StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Operations Management - Assignment Example

Comments (0) Cite this document
Summary
Therefore, inventory management should be done proficiently and professionally. Kotler (2000) has defined inventory management as activities that are involved in the…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.5% of users find it useful
Operations Management
Read TextPreview

Extract of sample "Operations Management"

Download file to see previous pages A business that has an effective management strategy is likely to have an upper hand in the market. There are diverse benefits associated with efficient operations management, including a reduction in the operational costs while enhancing customer satisfaction. Inventory management ensures that sales, customer service, and production are done effectively without interruptions, hence ensuring customer satisfaction and cost reduction. In addition, optimizations of inventory levels as well as helping in improving cash flows are major benefits derived from inventory management. Improper inventory management can lead a business to huge losses. In the modern context, several inventory management controls have been developed; some that are highly sophisticated while others are quite simplistic. Some of the available inventory management tools include ABC analysis, Economic Order Quantity (EOQ), Discounted EOQ, Vendor managed Inventory (VMI), LP, MRPII, TQM, ERP, KANBAN, and collaborative planning among others.
Inventory management tools are very well applied in organizations for diverse purposes. A number of company operations are associated with the inventory management tools. Firstly, in the process of developing the company accounts, the accuracy is tremendously improved hence enhanced reporting of the company profits and losses (Silver 2008, p.16; Hilton1994). This is done based on the asset value that is attached to every item that is purchased, those within the company and the ones sold. Secondly, the management is able to identify flaws and ensure they are rectified before they get out of hand. The inventory management tools help track all the items in the company, thereby ensuring that flaws do not accrue until the stock taking date. Fourthly, customers are very important people as far as the company is concerned. The inventory management tools are able to identify items that are in shortage hence customers are able to make their bookings without being ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Operations Management Assignment Example | Topics and Well Written Essays - 1250 words”, n.d.)
Operations Management Assignment Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/management/1656390-operations-management
(Operations Management Assignment Example | Topics and Well Written Essays - 1250 Words)
Operations Management Assignment Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/management/1656390-operations-management.
“Operations Management Assignment Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/management/1656390-operations-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Operations Management

Operations Management

...? The essence of Operations Management is the need to make rational decisions in difficult circumstances with limited, imperfect information Introduction Operations management is part of a distinct function in a production or service company. It is a significant issue particularly in the success of a project. If you are the ‘boss’ in the area of production, you have to consider yourself a mere employee or a worker. The scenario is this: a boss sits in a swivel chair, uses his phone and any means of communication to demand action from subordinates. But an operations manager does not take anything for granted. He works all day long, does...
6 Pages(1500 words)Essay

Operations Management

...be translated into quality products at low prices. ERP system is aimed at achieving operational excellence and hence its effective implementation will add to value to overall organization. The realisation of this by the whole organization will facilitate the change and hence result in success. Lewin’s 3 stage model: This model suggests a 3 stage process of unfreezing, changing and re-freezing to successfully implement organizational change. The unfreezing stage involves the creation of conditions that are right for the change to occur. Employees must be moved from the comfortable zone to a zone where they are ready for change and not attached to the previous model. In the transition or the changing stage,...
5 Pages(1250 words)Coursework

Operations management

...? Operations Management Tokundu Airport Case Operations ManagementOperations Management is the study of organizational processes that transform inputs into finished goods and services. The primary goals of this course are (1) To gain insight as to the nature of operational issues and problems; (2) To create guidelines for sound tactical and strategic operational decisions; (3) To provide a framework necessary for managing the operations of an organization; (4) To build good critical-thinking skills” (Eldersveld, 2006). The basic issue that operations...
6 Pages(1500 words)Essay

Operations management

...?Operations Management: Discuss three phases of a project as well as the responsibilities of project managers. Project Management can be seen to contain three distinct phases: Planning, Scheduling and Controlling. During the Planning phase, the requirements of the project are properly understood. The Project Manager (PM) fits the new project within the broader Project Organization, so that existing projects continue to run smoothly. The PM also interacts with the clientele and other stakeholders so that the scope of the project is fixed. It is the responsibility of the PM to temporarily assign members to the project, as well as to co-ordinate “activities...
2 Pages(500 words)Essay

Operations Management

...? A Report on Green Life Inc’s preparation for business during Christmas. An Operations Management Perspective Table of contents Introduction 4 1.1 About the business 4 1.2. Operations Management 4 2. Competitive elements in OM 5 2.1 Operations effectiveness 6 2.2 Customer management 7 2.3 Product innovation 8 3. Functions in operations management 9 3.1 Capacity planning 9 3.2 Supply chain management and inventory control 9 3.3 Quality 10 3.4 Human resources management 11 4. Gains and drawbacks in operations management 11 4.1...
10 Pages(2500 words)Essay

Operations Management

...? Operations Management ID The Main Objective Fiat Intends To Achieve By Building the New Production Plant in Melfi Throughout the 1980s, the plant experienced a number of issues that almost paralyzed the firm; ranging from low quality products, significant fall in productivity levels and unending industrial conflicts. Building the new firm in Melfi the firm seeks to correct the mention problems. Fiat management visualizes the project as a designed test backed up by agreements preventing the organization through the use of unions to educate employees. The project targets the main employees representing the backbone of the organization. The employees would be subjected to training in the...
8 Pages(2000 words)Essay

Operations management

...Operational Management 11/14 Table Of Contents Introduction to Operation management and its historical evolution; 3 2.Major Functional Areas of Organization; 4 i.Finance; 4 ii.Marketing; 4 iii.Operations; 4 3.Interrelation of major functional areas; 4 4.Management and its major aspects; 5 5.Function and nature and Key aspects of operations; 5 6.Current Trends in business’s operations management; 5 Hypothetical Analysis Report Of Operations Management: 6 Introduction: 6 Summary; 6 Analysis 7 K&N CORPORATION (Proposed) Mission; 9 Must win Battles to attain proposed...
10 Pages(2500 words)Essay

Operations Management

...The Central Evaluation Unit   Analyzing and Evaluating the Processing of New Applications at the CEUPU The process map for new applications revolves around determining the efficacy and impact of the activities of the firm with respect to their objectives. In that sense, a process map for new applications should be clearly structured in order to provide support to the assessment activities of offices and departments. The cycle time for the application process can be calculated in various ways. First and foremost, it can be calculated through considering the number of operations running in relation to the available personnel (Chopra, Anupindi, Deshmukh, Van Mieghem, & Zemel, 2005, p. 29). Through measuring the...
6 Pages(1500 words)Essay

Operations Management

...Operation Management Process Introduction Brookside Dairy Ltd is a private company that processes milk and milk related products. The company has grown over the years form a relatively small unit expanding exponentially, scaling heights and levels that could have been probably seemed impossible. It has received acclaim from various quarters and has been accredited for introducing new products intro the market greatly surpassing older and more experienced companies. One of its strengths is the recognition of the fact that its business is primarily driven by farmers –both small and large scale-and therefore dedicating resources into their well-being through various programs. It also recognizes the potential...
8 Pages(2000 words)Assignment

Operations Management

...Draft Operations Management s Submitted by s: What is it meant by “build to order” and how does it differ from more traditional approaches to the car business?  Build to order is a production method where the building of products does not take place until an order that confirms they should be build is received and it is the oldest style that is associated with order fulfillment. It is the most suitable method that is utilized for products that have a high level of customization while being produced in low volumes. A product that is built to order is uniquely made for a specific customer according to the specifications that the customer requests. The product will usually be above the standard specifications and are made to meet... ; the focus...
6 Pages(1500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Operations Management for FREE!

Contact Us