Attached.Running Head: OPERATION MANAGEMENTOperation ManagementInstitutional AffiliationStudent’s NameDate12OPERATION MANAGEMENTIntroductionAll businesses naturally share one common feature; they produce a package of goods andservices. Manufacturing firms and service providers both sell a product/service, whether it istangible or not. Both of these businesses also share the same goal, to meet consumer demand fortheir product. They aim to produce a quality product to ensure customer satisfaction(“Manufacturing and Service,” 2020). The manufacturing and service industries run similaroperations; both have inputs, processes, and outputs.Plastic ManufacturingAccording to Burkhardt et al. (2000), plastics manufacturing is inexpensive because itinvolves little post-processing, casting, joining, and forming operations. The inputs are energy,labor, raw materials, and natural constituents: pellets, granules, and powders. There are numerousprocesses of transforming raw materials into finished goods, with the most common one being theextrusion process because of its low cost. Furtherly, injection molding is used to make complexshapes because of its dimensional accuracy and to develop beverage bottles. It is used to createhollow objects like straws. Additionally, structural foam molding is used to create stiff and heavyplastics. Blow molding is used to create a wide range of objects, from corrugated tubes and pipesto cosmetics. Rational molding is used to create large hollow containers like buckets. Finally,thermoforming compression molding is used to create complex parts like shower stalls and smallintricate objects.The supply chain of plastic manufacturing begins with suppliers. The procurement of rawmaterials officially kicks off the process. According to Keagle (2013), the quality assessmentprocess starts with the raw materials. The production phase; involves molding, joining, and castingOPERATION MANAGEMENT3procedures. Quality testing is conducted to ensure quality control. After quality assurance, theinventory of the stock is taken. The next step is warehousing. The final step is distribution, whichinvolves transportation and sales.External Accounting OfficeAn Accounting firm contacts accounting services to other companies or individuals at afee. The inputs are journal entries, general ledgers, and receipts. The transformation of theinformation to the finished product is done in the accounting cycle process. The first step is theanalysis of business transaction documents to make sure they are complete. The journal entriesand ledger values are summarized and totaled to produce financial data. The outputs are financialstatements and reports. Financial statements are balance sheets, trial balance, and incomestatements (Gitman, 2018).Lyle (2008) discussed the areas of the financial accounting supply chain. It involves theprocedures of accounting: bookkeeping, accounting, and auditing. It is vital to comprehend thatbookkeeping is the documentation of business transactions in journals and ledgers. Accounting isthe general process of tracking, analyzing, and reporting business transactions. Auditing isexamining financial records to ensure that they adhere to the principles of accounting and the law(“Accounting vs. Auditing,” n.d). The last area is the use of financial statements by the client tomake financial decisions. The government uses audits for taxation.Woodart Facto…
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