Question: businesses optimize processes to maximize efficiency and minimize costs in Operations Management? Discuss key principles like lean manufacturing, Six Sigma, and Total Quality Management. Explain
businesses optimize processes to maximize efficiency and minimize costs in Operations Management? Discuss key principles like lean manufacturing, Six Sigma, and Total Quality Management. Explain the role of forecasting, capacity planning, and inventory management in ensuring smooth operations. Highlight strategies for improving productivity, such as process redesign and technology integration. Explore how businesses adapt to changes in demand, handle supply chain disruptions, and maintain quality standards. Provide examples illustrating these concepts in realworld business scenarios."
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