This analysis aims to demonstrate the critical fundamentals of OM; illustrate the current 'leading-edge’ of OM, in relation to the mainstream commercial operations retail supermarket; cite examples to evaluate and demonstrate the competitive advantages of Tesco plc viz-a-viz other supermarket competitors…
Operations management must be strategized to enable competitiveness. Such can be achieved if the entrepreneurs proficiently practice financial management, customer care satisfaction, operation risk management, innovation and creativity in business management, as well as regular monitoring or evaluation of performance using standard index of measure. Other than protecting capital and investments from foreign exchange losses, it is also essential to undertake strengthening activities to improve organizational performance and to critically understand the market trend using behavior-analysis for them to nurture change adaptability especially when foreign exchange rate in the market is reel to fluctuate. Slack et. al. pointed that performance is improved if an organization is adherent to total quality control to do what is right to maintain an effective and quality operation that is cost-efficient; do functions and roles efficiently to effectively deliver services; perform jobs timely to nurture reliance in the delivery of goods and services; and to practice flexibility in the production of goods or delivery of services based on supply and demand situation in the market.
2.2 Operations performance for efficiency and competitive advantage
Learn from experiences. Tardiness doesn’t favor business. Business must be dealt with efficiency thus, it is important for the organization to maintain effective operational technology to spare procedural dysfunction or breakdown; strengthen time utilitization as against absenteeism; and optimization of quality standards of job performance to develop a culture of efficiency in the workplaces. In so doing, entrepreneurs should produce goods with quality standards in accordance to policies and scale or context of economies. The organization must also prefer highly-skilled and well-trained human resources who are willing to out-perform other competitors in the market. As such, other than their inherent capacities, workers should be measured with their actual output as against goals and of key results as against the period of time allotted for the perfection of production or delivery of service. This is very significant in supply chain management of the retail industry. 2.3 Supply chain management in retailing Supply chain management (SCM) refers to the mechanism adopted by retailers in the performance of their business operation which specifically deal with the transport of goods and services from its production or site to its consumers (Kavcic, 2006). Retailing is the significant last step in this system where entrepreneurs match goods with consumers needs within the context of supply and demand relocations. SCM enhances organization’s performance to enable the integration and interaction of internal and external relations between suppliers, retailers, customers, or buyers. ...
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(Operation Management Essay Example | Topics and Well Written Essays - 2750 Words)
“Operation Management Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.net/management/1278-operation-management.
This was reached due to the shortcomings that arose from the IPO in analysis vital information in project management. It represents how the C20 works out its operations to reach peak performance dimensions. The input sort by the organization is acquired from funds of equity from the management body, labor infused by its employees and the resources obtained, local or foreign.
The paper aims to espouse on the overall concept of operation management and describes the operational management activities utilized to realize success, in terms of capacity management in hospitality in this particular hotel.
Thus the main of the operations management is the optimization of all processes in an organization. Operations and processes Operations and processes management Operations function is basically a section of an organization responsible for producing both products and services.
United States of America (US) is a booming market in the telecom industry and it offers an excellent position for competing in a rigorous manner in the overseas markets. The knowledge, skills as well as advanced services provided by the firms of US telecommunication industry are regarded as vital assets which help in boosting up the country’s exports to the overseas markets with opening up of foreign investment and participation.
The two companies selected for the discussion in this paper are the multinational fast-food chains Mcdonald’s and KFC (Kentucky Fried Chicken). It is obvious that it is not possible for any company to focus on all the five performance objectives together, hence the paper examines performance objectives preferred by the above companies in their operations strategies.
Operation management rely more practical and scientific execution of theories and calculations rather than putting more on theoretical aspects. According to Slack (2004), any operation is concerned about production of products or processing of services. In such context, manufacturing of products raw materials, parts, practice of workers, subassemblies etc while service is pretty much intangible in nature but it needs involvement of employees who would process the service to customers.
One thing we never want to do is to spend much money for the services or for the goods either. Take for example, when one visits a restaurant; they require good quality food served to them quickly and at a cheaper price. Same to when we visit a hospital, we expect the doctor or nurse to attend to us quickly and give to us the best care.
But recently the company has started facing major operational issues that are likely to affect the business if the managers do not find effective solutions for these problems in the near future. The company should pay critical attention to improve on the operations management processes and deal with the critical factors underlying the issues in the operations management of Wal-Mart.