Influences on operations management
by Akshita Verma
1. Technology
1.1. the design, construction and/or application of innovative devices, methods and machinery upon operations processes.
2. Government policies
2.1. Cost based competition recognises that prices cannot keep increasing, and reducing costs is a way to maximise profits when revenues are fixed.
3. Legal Regulations
3.1. The regulations that control business practices and procedures must be followed at the risk of penalty (legal compliance).
4. Environment Sustainability
4.1. Environmental sustainability means that business operations should be shaped around practices that consume resources today without compromising access to those resources for future generations.
5. Quality Expectations
5.1. Quality may be understood to be a specific reference to how well designed, made and functional goods are, and the degree of competence with which services are delivered and organised.
6. Cost-based competition
6.1. Cost based competition recognises that prices cannot keep increasing, and reducing costs is a way to maximise profits when revenues are fixed.
