Explore the integration of operations strategies, such as lean manufacturing, Six Sigma, and Total Quality Management TQM to streamline production processes and minimize waste. Discuss the role of technology, automation, and data analytics in improving decisionmaking and performance monitoring within operational frameworks. Additionally, investigate the challenges of global supply chain management, including risk mitigation, sustainability, and agility in response to market fluctuations. How do companies balance cost reduction initiatives with the pursuit of innovation and continuous improvement to maintain competitiveness in today\'s dynamic business landscape?