Operation management deals with the design and management of products, processes, services, and supply chains. It turns inputs (e.g. materials, labor, and energy) into outputs (e.g. goods and services).
For example, a company that manufactures automobiles will have to design the production process, procure the required inputs, manage the production process, and then finally distribute the finished product. The goal of operation management is to maximize efficiency while ensuring that quality standards are met.
There are various approaches to operation management, such as the lean approach, just-in-time (JIT) production, and Six Sigma. The choice of approach depends on the specific organization and the products or services it produces.