Operations management is the design and control of the processes in organisations providing the product or service. Along with Marketing and Product Development, Operations forms one of the core functions which can be found in all organisations. The operations of an organisation usually represent a large proportion of total costs, a significant source of potential competitive advantage and pose dangers of organisational failure. Increasingly the day-to-day success of a process is embedded in the design of the process, so the design of processes is strategically important. Operations success may be measured against a range of performance objectives: cost, quality, flexibility and sustainability.
BS1 Vol. 1, pp 445-476.