Top 10 important words and phrases for Operations Management Analyst

Top 10 important words and phrases for Operations Management Analyst Introduction: The Language of Operations Management Hello everyone! Today, we're diving into the world of Operations Management. As an analyst in this field, understanding the terminology is key. Let's get started! 1. Supply Chain The network of organizations, people, activities, information, and resources involved in the production and delivery of a product or service to the end customer. It encompasses everything from sourcing raw materials to delivering the final product. 2. Inventory Management The process of overseeing and controlling the ordering, storage, and usage of materials or finished products. It aims to strike a balance between having enough inventory to meet demand and minimizing holding costs. 3. Lean Manufacturing A systematic approach to eliminating waste and improving efficiency in production processes. It focuses on continuous improvement, just-in-time production, and reducing non-value-added activities. 4. Six Sigma