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  • April 21, 2024
  • Last Update May 7, 2023 10:40 am
  • Hannover

Transactions Function

Activities in operations management; It consists of organizing, selection processes, planning, finding opportunities, designing the work to be done, measuring performance, quality control, programming, managing inventory, and product planning. Operations managers deal with people, technology, and deadlines. These managers should have advanced technical, conceptual and behavioral abilities.
The activities of these managers are closely related to the other functional areas of the business.
The four core functional areas of a business are marketing, finance, operations and human resources. For most firms, operations are technical and organizational “centres” that interact with other functional areas that produce goods and provide services for customers. For example, marketing; sales forecasts, customer demands, customer feedback, promotion and product development and transactions. Transactions also provide product information or service availability, delivery time estimates, order status and delivery schedule and marketing, respectively. operations to provide financial resources for production; provides financial, production and inventory databased accounting, capital budgeting requests, capacity expansion and technological plans. Finance covers personnel and supplier expenses, performs cost analysis, approves capital investments, and deals with shareholder and financial market requirements. Transactions; It consists of human resources such as recruiting, training, appraising and reserving personnel needs, and also supports legal issues, job designs and union activities. Transactions outside the organization; interacts with suppliers to order goods and services, deal with product and delivery terms, confirm quality, negotiate and finalize design specifications.

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