Most growing companies will benefit from developing an actionable operations plan. This is a document, updated frequently, that details the company’s goals, strategies and processes. Another way to think about an operations plan: It’s the how-to book for fulfilling company objectives.
An operations plan may cover strategy and processes for technology, people, capital/finance, sales and marketing, and, if applicable, supply chains, logistics and R&D. At a minimum, a company should document all support processes, such as human resources, payroll and accounting, to protect a business in case of a leadership change or acquisition.
The term “Operations” is a small word that refers to your total business process. The three main types of operations planning are start up operations creation, ongoing operations planning and business continuity operations planning. A good way to start your operations plan is to visualize in detail the procedures involved in development of your product, purchase of raw materials, manufacturing process, warehousing, marketing, sales process, purchase transaction, order fulfilment, accounting, human resources and cash management. This is the scope of your operations.
To outline your businesses’ operational processes, you’ll need to detail the day-to-day operations. To do so, make sure you list the required items (where applicable to your business).
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