Operations Management (OM) environment.

Full Answer Section These changes have been driven by a number of factors, including:

• The rise of e-commerce: E-commerce has made it easier for customers to shop around and compare prices. This has put pressure on businesses to lower their costs and improve their efficiency.
• The increasing importance of speed and agility: In today's fast-paced marketplace, businesses need to be able to respond quickly to changes in customer demand. This has led to a greater focus on agility in OM.
• The growing importance of sustainability: Customers are now more aware of the environmental impact of businesses. This has led to a greater focus on sustainability in OM.

Here are three specific features that characterize today's OM environment:

• The need for agility: Businesses need to be able to respond quickly to changes in customer demand. This requires a focus on flexibility and adaptability in OM.
• The importance of data analytics: Data analytics can be used to improve decision-making in OM. This includes using data to identify areas for improvement, track performance, and make predictions about future demand.
• The focus on sustainability: Businesses are under increasing pressure to reduce their environmental impact. This has led to a greater focus on sustainability in OM.

These are just some of the key features that characterize today's OM environment. As the business environment continues to evolve, OM will need to adapt to meet the changing needs of businesses.

Sample Answer Today's operations management (OM) environment is significantly different from that of a few years ago. The following are some of the key differences:

• Globalization: Businesses are now operating in a global marketplace, which means that they need to be able to compete with companies from all over the world. This has led to a greater focus on efficiency and cost-effectiveness in OM.
• Technology: The use of technology has had a major impact on OM. For example, the use of enterprise resource planning (ERP) systems has made it easier for businesses to track and manage their operations.
• Customer expectations: Customers are now more demanding than ever before. They expect businesses to provide high-quality products and services at a competitive price. This has led to a greater focus on customer satisfaction in OM.