BUSINESS FUNCTIONS & PROCESSES Assignment Example | Topics and Well Written Essays - 2500 words

BUSINESS FUNCTIONS & PROCESSES - Assignment Example These functions within an automotive industry based organisation include automobile design development, formulation of effective marketing and advertisement strategies and implementing them accordingly (Ing. Punzenberger COPA-DATA GmbH, 2010). In the similar context, operations management within the automotive industry can be described as all the functions and activities associated with effective utilisation of raw materials for carrying out the manufacturing and the maintenance processes. This includes keeping record of all the fixed cost and variable costs associated with the daily production process. Operations management is also at times referred as the parent process of production management. Within this parent process, all other management processes such as inventory management, human resource management, and production management exist (Slideshare Inc., 2014). The concept has gained importance due to the increasing competitiveness in the current marketing scenario. Adding to this, this concept has proved its effectiveness and values provision to the automotive industry. The value part can be described in relation to that of quality, quantity, time factor and profitability. As already described above, production management within the automotive industry is all about manufacturing the demanded quantity of cars with set quality standards within specified period of time to make its availability in the market certain. It also ensures that the manufacturing process gets carried out in a timely fashion and effective selling strategies get formulated through which high profitability can be attained by the companies (Ing. Punzenberger COPA-DATA GmbH, 2010). In contrast to production management, which focuses on profitability earning, the operations management provides value to the manufacturing companies in terms of cost cutting. As