Recent Trends and Developments in Operations Management

Abstract

Today operations management is used to characterize the management of the daily activities of all business units, which ultimately lead to the final product or service. The purpose of operations management is to streamline the production process and general operations within the business to maximize profit and ensure business growth. After going through three industrial revolutions, manufacturing technology and management are currently facing the fourth leap (and some researchers say we are in the fifth industrial revolution), industrial revolutions being driven by rapid change, achieved through innovation. The purpose of this article is to highlight the trends in operations management based on the analysis of this concept evolution. In this sense, we mention the contribution of each revolution in the development of operations management. We note that today's main feature is the use of new technologies to provide prosperity beyond job creation while respecting the planet's production limits. Recent trends in production/operations management relate to global competition and its impact on companies, especially manufacturing companies. Following the research carried out, we highlight and characterize some trends in operations management. A special place belongs to the study of the influence of artificial intelligence on the development of operations management. We argue that artificial intelligence can significantly influence the management of production operations, but also in the service sector by providing significant advantages and improvements. The key question that appears in this order of ideas concerns finding the optimum between decisions made by humans and those determined by machines. DOI: https://doi.org/10.53486/cike2023.15; UDC: 005.5:005.332.2; JEL: M10, M11