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Perspectives on Operations Management - Essay Example

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Perspectives on Operations Management Date: Perspectives on operations management Outline: Introduction of Operations Strategy Operation Strategy for new Wal-Mart Store Key Factor of Operations Strategy Implied Performance Objectives Justifications and Recommendation Perspectives on Operations Management Operations management strategy is simply a tool which can help the organizations to carry out their business in efficient manner…
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Download file to see previous pages An efficient operations strategy can help the business entities to win the race and stand at top of the crowd in competitive environment. Operations Strategies for new Wal-Mart store X Company is the chain of independent retail outlets in Hartwell in Essex and opening a new Wal-Mart store at edge of the town. The advice is needed about the potential operation strategy in response to the recent opening of Wal-Mart store. I have prepared a plan for the future business operation strategy for the new Wal-Mart store. There are some extracts of my research are mentioned below Operational Strategy According to many successful financial advisors, Operations strategy for any business has a direct impact on the profitability levels and corporate strategy. Structural design is the main element of the operations strategy. As the Company X is running its business as a retail outlet and want to set the new business operation strategy for new Wal-Mart store. There are some key points for the structural design of new operations strategy. Meet the target demand: As the company is opening its new Wal-Mart store at the edge of Essex. So the target customers are the people of Essex. In addition, the company can take advantage form the new customers because of the location of new Wal-Mart store. It is clear that, the company is going to meet with the high level of customer demand. In this case, the company need to ensure first that it have the capability to meet with the high level of demands. For this purpose, company should access the target demand level and take certain steps to meet with the target demand. Cost of the products: If the company want to win the competitive race, then it should set the prices of their products that are unbeatable. Management should set the prices that provide the good value for their products. Services: The management of the new Wal-Mart store should ensure to provide the high quality services to potential customer. The management should provide the services according to the customers’ necessity. Use of Technology: In current modern trends, technology is referred as a primary toll for an efficient operations strategy. In the case of retail business technology can be used in effective manner to manage the day to day operations of the business. For example, use of security cameras to keep an eye on any unusual activity or use of bar code reader to track all the sales in efficient manner. Layout and design of new Wal-Mart store: The secret of efficient operations strategy for any retail business lies in the layout and design of retail outlet. That’s why the management of the new Wal-Mart store should set a catchy layout and design for its new store that will save the time of potential customers. The layout should be in such way that enables the customer to access all the necessary things easily. The management should set the service layout that can create an open shopping environment that helps the customers to find the things what they are looking for quickly. Selection of Employees: Selection of staff for new Wal-Mart store is one of the primary factors that can help to develop good operations strategy. Skilled and trained staff can help to manage the routine operations in more appropriate ...Download file to see next pages Read More
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