Which strategy aims to reduce waste and improve productivity in operations?

Lean Operations is a strategy specifically designed to enhance efficiency by minimizing waste while maximizing productivity within business operations. This approach focuses on identifying and eliminating non-value-adding activities to streamline processes, thereby achieving higher efficiency and improved output.

Lean Operations incorporates principles such as continuous improvement and respect for people, emphasizing the need for ongoing assessment and refinement of processes. By applying techniques like value stream mapping, organizations can pinpoint areas of excess and implement systematic changes, resulting in reduced costs, improved quality, and faster delivery times.

In contrast, Resource Management focuses on the effective allocation and utilization of organizational resources, including human, financial, and physical assets, but does not primarily aim at waste reduction or productivity. Product Development pertains to the creation and improvement of products, concentrating on innovation rather than operational efficiency. Cost-Benefit Analysis is a financial assessment tool used to evaluate the economic viability of projects or decisions, rather than a strategy geared towards operational efficiency or waste reduction. Thus, Lean Operations is the most appropriate choice for the goal of reducing waste and enhancing productivity in operations.