Wednesday, July 24, 2019

Operation management Research Paper Example | Topics and Well Written Essays - 3000 words

Operation management - Research Paper Example It facilitates the setting of priorities, ensures that operations are maintained, assesses performance, involves the people, and ensures that the organization forecasts on the future (Sanyal 2012). An OMS acts as the framework that facilitates the execution of an organization’s processes and procedures in order to ensure that an organization is capable of meeting its objectives sustainably. In the 21st century, many businesses have adopted an OMS that is geared towards ensuring that the business is able to generate stakeholder value. In this paper, a focus on the OMS developed by BP Company will be put into perspective together with a consideration of the potential areas that the company can work on to improve the OMS. BP plc is one of the largest multinational companies in the energy sector in the world today. It deals with oil, gas, petrochemicals, and renewables. In order to execute its global objectives, BP had developed an OMS. The company has integrated functionality in the industry having operations in the exploration and production of petroleum, oil refining, distribution of petroleum products, renewable energy production, trading, generation of power and petrochemicals. Dealing with petroleum and its affiliate products is a lucrative yet precarious business (Portougal & Janczewski 1998). In the past, BP has spent heavily due to unprecedented occurrences such as oil spills. The company lost its oil besides having to pay huge fines in the 2010 Deepwater Horizon oil spill. To prevent such occurrences, the company has developed an OMS that is geared towards dealing with its operations in a manner that promotes sustainability and efficiency. The company’s OMS has been very influential t owards the milestones that have been made so far by the company. BP has a clear strategy that it endeavors to accomplish. This is captured in the company’s goal that is â€Å"to be a focused oil and gas company that delivers value over volume† (BP Website

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