Innovations and Continuous Improvement - Assignment Example

Innovations and Continuous Improvement Name Date Course Task 1 Question 1 In the supply chain of the company, the key system and processes that are used by the company involves direct contact with the suppliers. The system used is simple as the raw materials are purchased directly once the need has been established. The operational system of the company is also simple as it has few procedures. The processes are few which have positive impacts on the operations of the company. The use of simple operational procedures is important in ensuring that efficiency is enhanced. The products and service delivery at the company is effective as a lot of planning is usually made before the design of the toys is carried out. Question 2 Supply chain Key results areas Effective coordination of supply chain activities. Effective communication with suppliers. Timely delivery of raw materials. Customer focused processes. Key performance areas Development of the supplier’s profile. Development of the suppliers networking. Increasing the flow of raw materials. Reducing to cost of purchase. Operational system Key results areas Proper planning of the core products. Demand planning for the critical items. Proper flow and coordination of activities. Key performance areas Improve on the customer satisfaction process. Proper coordination of activities. Improved efficiency and effectiveness in carrying out operations. Product/service delivery Key results areas Quality of the products and services. Avoiding errors and wastages. Using the high quality materials for the products. Key performance indicators Improved quality of the products. Reduction on in the time required for production. Reduced rates of errors. Increased customer satisfaction The performance review processes requires the review of the process after every six months (Corbett, et al, 2012). The performance of the employees would have been reviewed twice a year for the purposes of determining their ability to meet the goals that have been set. The results of the performance review would have been used for continuous improvements. A service level agreement would have been signed with the suppliers so as to ensure that the raw materials are of high quality and are delivered on time. Question 3 The flowchart is the main assessment and evaluation tool that would have been used to monitor performance. The flowcharts are commonly used for the purposes of investigating the current situation depending on the feedback (Wisner, et al, 2015). In the supply chain department, the flowcharts would have been used for the purposes of obtaining feedback from the suppliers. It will alos be used to determine the effectiveness and efficiency of the supply chain. In the operational systems, the flowcharts would have been used to obtain information from the customers and the employees with regards to the quality of the services. The information from the customers would have impacted positively embracing change which is a factor that led to the collapse of the organization. In the products and service delivery, the flowcharts would have been used to obtain information on how the products and services would have been improved. Such information could have been used to come up with new quality and innovative toys. Question 4 The company was unable to improve on the quality of its products and services. The number of new products was increased by the company but the quality of the toys was still poor. This is can be attributed to the lack of experience designers. The sales did not perform well for some years although some improvements were noted in some years. The failure of a company to improve on the sales operations can be attributed to poor strategies as well as the poor quality of the products (Wu & Pagell, 2011). The profitability of the company was alos on the decline due to poor sales. The company made several losses and it finally collapsed after the collapsed after making millions of losses. The level of variance from the plan was quite high for the company in terms of profitability. The supply chain of the company however faced little variance and it continued to remain steady. This can be attributed to the good relationship that the company had developed with its suppliers. The business growth faced a lot of challenges with high levels of employee turnover. Some of the employees were alos sacked leaving the company vulnerable. The company was unable to carry out some of the activities as it did not have enough employees. Question 5 The company failed to notice some of the crucial changes in the market towards the end of 1950s. The preferences of both the boys and girls were changing with regards to the toys. The company however continues manufacturing the same toys and it failed to come up with the new products that were required in the market. The company failed to notice the changes in the methods of advertising which was alos taking place at the organization. The packaging methods as well as the methods used for carrying out the sales were changing as retail shops were increasingly becoming popular. The process variables could have been changed at the company in order to deal with the missed opportunity in terms of the development of new products. Such a process could have been conducted on a step by step basis for a period of two years. Strategies are required by an organization to ensure that its products are innovative and satisfy the customers (Agus & Shukri Hajinoor, 2012) Prior to the 1960s, the market share of the company was huge and the company had a strong brand image. The reputation of the company was alos good due to its ability to satisfy the customers. It was alos stable and influential in the market. The company was profitable as it was collecting annual revenue of $ 17 million every year. The sales of the company were alos high although the company has a poor record in terms of adapting to change. The customers of the company were satisfied due to the high customer standards. Although the levels of employee performance was high, the company did not have a good record in terms of innovations as it developed a similar products for a long period of time. The production and manufacturing process of the company was alos effective. Question 6 If the company could have continued operating to data, it would have been required to consult the engineers, HR personnel and sales personnel. The engineers play an important role in coming up with new and innovative designs that are able to meet the needs of the customers in the market (Krajewski, et al, 2012). The HR personnel play an important role in providing support to the other employees. The HR professionals can alos be useful in guiding the employees on the change management process. The sales personnel in the current business environment plays an important role in collecting data about the business trends as well as the creating awareness with regards to the products of the company. The external consultants such as the IT consultants may also be required for developing the information technology infrastructure of the company. Task 2 Performance Improvement Strategy The performance of the organization will be improved by putting in place measures to ensure that it is a learning organization. The organizational culture of the company will have to be improved in order to ensure that the company embraces change from time to time. Creativity with the organization must also be promoted for the purposes of developing new products (Goetsch, et al, 2014). The change of the organizational culture will require the development of the values that embraces innovations and change within the organization. In order for the company to become a learning organization, training and development has to be carried out by the company. Training equips the employees with new knowledge and skills that can be applied for the development of new innovative products and services. The new organizational culture will play an important role in ensuring that the organization is able to embrace change. This is considering that the performance of the organization was impacted negatively by its inability to embrace change. The competitiveness of the company will also be improved when the employees are innovative. This is an indication that the training and development of the employees will have positive influence on the company. The key results areas fort the company will involve production of new toys that meets the needs of the customers. Embracing change will alos be part of the key results area. The performance indicators for the company will involve customer satisfaction as a result of developing the new toys. An increase in the rate of innovations will also be an indication of good performance by the company. Risk Analysis Strategy The strategic risk analysis concepts will be used for the purposes of managing the risks within the organization. This method of risk management will ensure that it has a larger and wide spread impacts on the organization (Zwikael & Ahn, 2011). The concepts of technology and innovations are alos covered in the strategic risk management. The budget for monitoring and managing the strategic risks will have to be increased from time to time in order to ensure that the risks are fully managed. The number of senior executives responsible for managing the risks will also be increased by the company to ensure that the process is efficient. Detection and prediction of future risks will be carried out for the purposes of ensuring that the process is successful. Detecting the risks enables the organization to put in place the strategies needed to prevent the risk. New technologies will be put in place at the company for the purposes of enhancing the process of managing the risks.The strategic management of the risks will see the company carrying about a risk assessment audit for any opportunity. The process of risk management will therefore be useful in ensuring that the company is able to prevent huge losses that may lead to the collapse of the company. Coast Benefit Analysis Strategy Cost benefit analysis is a method that is used to compare the total cost of a project and the benefits that it may have on the organization (Bazargan, et al, 2013). The monetary units will be used for the purposes of making the comparisons. All the projects of the company have to be subjected to a cost benefit analysis. This process will have to be carried out at the start of each project. This will ensure that several options are considered before any of the projects is implements. The concepts of costs benefit analysis will be useful to the company in preventing loses from engaging in unproductive projects. The Net Present Value of the projects will be compared to the Net present Value of its benefits. This will play an important role in ensuring that the actual value of the project is determined. The future costs or benefits of the project have to be compared for the purposes of ensuring that future implications of the project are considered. The discounted benefits as well as discounted costs will have to be considered during the process. A complex economic analysis will therefore be required during the process in order to ensure that the best choice is made. Task 3 Activities Objectives Measures Timeframe Transition Reduce errors Reduce employee turnover. Increase productivity. Incorporate change. Promote sustainability. To enhance the efficiency and effectiveness of the organization. Improvement in the customer employee satisfaction 6 months Communication Improve the abilities of the employee to use English language. Improve on communication with the employees. Ability of the employees to fully communicate with the English language 16 weeks Contingency Plans The contingency plan for the transitional process will involve hiring new experienced employees who are innovative and able to implement the strategies of the company. The hiring process can take place within a period of 4 weeks. In terms of communication, the contingency plan involves developing a compulsory English language class for the employees which will be run for four weeks for one hour daily. Evaluation for Continuous Improvements The evaluation for the continuous improvements will be carried out through the use of a total quality management system. The system can identify any changes and ensure that improvements are made on a continuous basis where necessary (Kim, et al, 2012). List of References Agus, A, & Shukri Hajinoor, M, 2012, Lean production supply chain management as driver towards enhancing product quality and business performance: Case study of manufacturing companies in Malaysia, International Journal of Quality & Reliability Management, 29(1), 92-121. Bazargan, M, et al, 2013, A Simulation Approach to Airline Cost Benefit Analysis, Journal of Management Policy and Practice, 14(2), 54-61. Corbett, C, et al, 2012, Partnerships to improve supply chains, Sloan Management. Wisner, J, et al, 2015, Principles of supply chain management: a balanced approach, Cengage Learning. Krajewski, L, et al, 2012, Operations management, Pearson Education Limited. Goetsch, D, et al, 2014, Quality management for organizational excellence, pearson. Kim, D, et al, 2012, Relationship between quality management practices and innovation, Journal of Operations Management, 30(4), 295-315. Reijers, H. A., Mendling, J., & Recker, J. (2015). Business process quality management. In Handbook on Business Process Management 1 (pp. 167-185). Springer Berlin Heidelberg. Wu, Z, & Pagell, M, 2011, Balancing priorities: Decision-making in sustainable supply chain management, Journal of Operations Management, 29(6), 577-590. Zwikael, O, & Ahn, M, 2011, The effectiveness of risk management: an analysis of project risk planning across industries and countries, Risk analysis, 31(1), 25-37. Read More