How can operations management theory optimize organizational efficiency and effectiveness? Explore how principles like lean manufacturing, Six Sigma, and Total Quality Management enhance production processes. Discuss the role of technology, such as automation and data analytics, in streamlining operations. Analyze strategies for inventory management, supply chain coordination, and resource allocation to minimize costs and maximize output. Consider how operational decisions impact overall business performance and competitiveness in dynamic markets. Additionally, examine contemporary challenges like sustainability, globalization, and risk management, and propose innovative solutions rooted in operations management theory to address them effectively.