The History of Operations Management


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In episode 116 of Financially Simple, Justin looks at the history of Operations Management.

Business and Industry has come a long way since the Industrial Revolution in the early 20th Century, with advancements in technology as well as the Operational Processes that manage them. Justin gives a brief history of the development of Operations Management over the last 100 years - looking at the key points of the evolution of Operations, and where it’s headed next.


00:43 - The History of Operations Management

01:32 - The Principles of Scientific Management

02:34 - Assembly Line/Parts Standardisation

03:41 - Method-Time Measurement

05:52 - Toyota Production System

06:58 - Six Sigma

08:10 - ISO 9000

08:39 - Lean Operations

10:03 - The 5 Key Principles of Lean

10;46 - 8 Waste Obstacles of the Lean Process

13:26 - Business Process Re-Engineering

13:49 - 7 Components of Business Process Re-Engineering

18:44 - Next Generation Risk Management

22:08 - Summary


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Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.

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