What is operations management and why is it important?

Abstract

Woolworths Limited is the largest retailer in Australia, collecting about 18 cents in every dollar spent in the retail industry. With a nominal capital of 25,000 pounds (approximately $A70,000 today), Woolworths opened its first store in Sydney in 1924. The company posted annual revenue of close to $38 billion, and net operating profit of over $1 billion in 2006. Along with its flagship Woolworths and Safeway supermarkets (which has close to 40 per cent market share in that industry sub-sector), it also owns Dick Smith Electronics, Tandy Electronics, Big W discount store chain, and Dan Murphy's liquor stores, among others. It has also formed alliances with companies such as Calte..