Operation Management Terms – Part II

Operation Management Terms – Part II

This guide delves into advanced operations management terms, covering critical areas such as supply chain optimization, resource management, cost control, and production efficiency. These terms are essential for professionals aiming to enhance operational performance...
Cost leadership

Cost leadership

Cost leadership is a competitive strategy focused on achieving the lowest production and operational costs in an industry, allowing businesses to offer lower prices or maintain higher margins. Key elements include economies of scale, efficient operations, and strict...