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  • May 17, 2024
  • Last Update May 7, 2023 10:40 am
  • Hannover

Transactions Management

Operations Management organizes and activates efficient systems, the systems needed to get the job done. The food you eat, the movie you watch, the shops you shop, and the book you read are presented to you by the people who use the transactions.

There are operations managers in banks, hospitals, factories, and governments.

Those people; plans systems, ensures quality, produces products and provides services. They work with customers and suppliers, cutting-edge technology and global partners. Solves problems, rebuilds processes

they organize, innovate and integrate. Transactions; It is more than planning and control. Whether transactions are of superior quality, rapid market penetration, customization or low cost, and transactional excellence are essential to a successful business.

Transactions are often described as a transformation process.

Inputs such as materials, machinery, labor, management and capital are converted into outputs such as goods and services. Transformation that transforms customer needs and feedback from inputs to outputs changes the factors in the process. In operations management, we try to ensure that the transformation process is carried out effectively and that the output becomes more valuable than the sum of the inputs. The role of transactions will therefore be to create value. The transformation process itself can be seen as a series of activities in a value chain from supplier to customer.

Any activity that does not add value is unnecessary and should be eliminated.

The Input to Output Process is characteristic of a diverse business system. a steel sheet; shaped, painted, finished and worked in different ways in an automobile factory.

It is combined with hundreds of different components to produce an automobile. In an aluminum mill, different grades of bauxite are mixed, heated and divided into ingots of different sizes.

In a hospital, patients are supported to be healthy individuals through special care, medication, laboratory work and surgical interventions. Clearly, “transactions” are may occur differently.

Transformation process;

physical, As in production processes;

as in regional, Transportation and warehouse operations;

barter, as in Retail transactions;

physiological, as in health services;

psychological, As in entertainment; or

informative, as in communication.

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