23rd September 2014

An incredibly interesting section of business and its fundamental concepts is the idea of operations management, which Mahesh kindly talked to us about today. Learning about the process of Input > Operations Management > Output has allowed me to realize the importance of this process. One of the most important concepts is the Days of Inventory, which can be defined as the no. of days that it takes for the product to be created. Because today’s world is all about substitutes and consumer behavior, getting a product out to the consumers as quickly as possible has become a top priority for many companies.

For example, on the 23rd of September (the date of the lecture), the news reported that SMA Solar Technology AG had taken over the OPERATIONS MANAGEMENT of Canada’s largest photovoltaic plant in Ontario. The president of Kingston Solar addressed the fact that the company was looking to select an O & M provider, and believed that SMA had technological and management expertise in this area.

Possible consequences in the future would be lower energy costs due to higher efficiency, as well as more efficient services during power outages (if there are any).

Source:
PV Magazine