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trading in europe

st budget. The cost of each element of expenditure/activity must be known for price and wage determination and profit/loss identification. Capital equipment has to be replaced, maintained and disposed of to the best tax advantage. PersonnelThis involves recruitment, training, the design of reward systems, health and safety and industrial relations.Work will be done by specialists brought together in task forces that cut across traditional departments. Coordination and control will depend largely on employees. Organizations pose their own management challenges: motivating and rewarding specialists; creating a vision to unify an organization of specialists; devising a management structure that works with task forces; and ensuring the supply, preparation, and testing of top management people. Product DesignProducts must be designed to function well with style. The range of products or degree of standardisation must be decided. Materials must be chosen. Such matters link innovation and marketing to production. The CAD (computer aided design) designer evaluates designs with fast computer graphics offering 3-D perspectives, with machine generated colour. Specifications are more accurate. CAD can store standard designs, names and dimensions of components (information needed for purchasing specifications, machine and tools set-up). Modular production is supported with products built up from families of stock items. Modular systems are a form of standardisation - a means of cost reduction. ConclusionOperations management have met with widespread acceptance as a means of expediting product development, making efficient use of resources, and stimulating cross-functional communication. Not only manufacturing firms, but also legal offices, hospitals, and local governments have accepted operations management as an indispensable part of their organizations....

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