operation management assignment Operations management also deals with assessing the performance measures of the business processes for an organisation.
The three most significant performance measures identified for a business organisation are: Throughput The number of customers, goods, services or money that goes through a business process per unit time is identified as its throughput.
An example could be assessing an organisation could be the number of customers served in an hour or the number of units of a product produced in a minute.
Flow time The total time taken by a business unit to complete a process from the beginning till it end is called the flow time.
In the case where the organisations have more than one path through which the processes are flowing, the flow time is calculated as the longest path taken by the product or the service.
Inventory The Inventory of a business in operations management is the number of flow units that are handled by a single business process at any given time.