How is Services Operations management different than Product Operations management? Explain with an example.
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Q1.How is
Services Operations management
Management of service operations focuses on satisfying the needs of service recipients. Accomplishing this calls for an in-depth familiarity with the service requirements of the intended audience, competent management of the procedures involved in providing those services, strict adherence to established goals, and a focus on ongoing service improvement. Because of its importance to the organization's success, operations management is a core responsibility for top executives.
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