Final answer:
The statement is true as operations management focuses on the planning, coordination, and control of resources to efficiently produce a company's offerings.
Step-by-step explanation:
The statement is true: Operations management is indeed the business function that plans, coordinates, and controls the resources needed to produce a company's products and services. It involves ensuring that business operations are efficient, effective, and can meet customer demands.
Operations management is a broad area that encompasses various aspects of a business, from production planning and process management to supply chain management and quality control. This field of management ensures that all aspects of the production process are aligned and functioning optimally to avoid waste, delays, and unnecessary costs. It also adapts to the changing needs of the market and responds to customer feedback to improve products and services.
While the provided reference information about the Office of Management and Budget (OMB) is related to the broader field of management, it is more specifically concerned with the budgetary functions and oversight of federal agencies within the executive branch of the U.S. government, rather than operations management in the private sector.