Operations definition – So you want to extend your product line? Open a branch in an up-and-coming neighborhood? Resolve a purchasing inefficiency? Improve customer loyalty? Definition: Operations are the business activities that a firm engages in to convert materials into finished products or services, sell them to customers, and earn a profit. If you answered yes to any of these, or have any specific goal in mind for your business, you should look to your company’s operations – the internal engine that powers your business. Well-run operations are a critical, and often overlooked source of a business’ success.
What does operations mean?
Let’s look at an example.
- Processing: Bill purchases materials and parts and produces electronics.
- Inspecting: After production, the finished electronics are inspected for flaws and tested.
- Transporting: If the goods pass inspection, they are transported to retailers and Bill warehouse.
- Storing: The finished goods are stored until sold to customers.
What is operations definition?
If You’re a Retail Business
If You’re a Restaurant
If You’re a Service Company
If You Make Products
If You’re a Digital Company
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