"How do businesses optimize efficiency in production processes while maintaining quality standards? What role does capacity planning play in ensuring smooth operations? How do supply chain management strategies impact overall performance? Explain the principles behind inventory management and its significance in meeting customer demand. How do businesses balance cost$-$effectiveness with customer satisfaction in service operations? Discuss the importance of forecasting in operations management and its application in decision$-$making. How do lean management principles contribute to waste reduction and improved productivity?"