Inventory Management and Design Process - Essay Example

1. Design holds an important place in every business as a proper design of a product or services helps to determine the amount of success that the product will achieve. The importance of design magnifies in case of hotel as the business entirely works in a service sector where customers give increased importance to design and the business has to ensure that the design of their product or service is such that it ensures easy acceptability from the customers. Having a proper design in case of hotels helps to multiply the pleasure or fun that the customer has as properly design the services and products helps the customer achieve what they are looking for. A good design finds easy acceptability within the customers as it gives them mental satisfaction and helps the customer achieve the basic facilities which they are looking to have. A good design helps the customer to me mentally satisfied and is even willing to pay slightly higher because of the additional mental satisfaction that they will receive This makes it important that while designing a service or product in a hotel industry special care and efforts are being laid to ensure that it matches the customer expectations. This makes it important that the design follows the steps that the business has determined and based on it look towards achieving mental satisfaction. The design process should start with a generation of concept which will help to identify the purpose which the design looks towards achieving. Then the screening should take place which will help to judge and look into different factors of the concept through which the design will be accepted or rejected. The business then has to look towards selecting one alternative and have a preliminary design based on which the business will look towards determining the future course of action. The next step is to evaluate and look into the manner in which the improvements are to be made so that better facilities and services are provided so that customer acceptability becomes easy. Finally, the business has to look towards developing a prototype and a final design which will help to make the design for the product or services and will ensure that the purpose is achieved. This makes it important that the business looks towards developing a proper design for the product or services as any fault in the design will result in unacceptance from the customer and might lead towards failure of the products or services. Since, customers looks towards a product or services which helps them to derive a mental satisfaction and assures them that they are getting a better return for the money invested by them it becomes important that the business looks towards developing a service in such a manner that customer acceptance is high. Businesses thereby have to look towards ensuring that while designing the product or services utmost care is taken and facilities developed which will help to enhance customer satisfaction. This will help the business in ensuring easy acceptability of the product or services and will ensure that the business is able to benefit over a longer period of time. 2. Inventory management is an important aspect for every business and every business has to look towards ensuring that the inventory holding is adequate as having more inventory than required increases the cost of holding and results in more investment to be put in inventories which could otherwise have been used else where. Investing less in inventories is also a problem as it might result in shortages and bottlenecks which will further have an effect on the performance of the organization. This thereby becomes important that businesses look towards identifying the optimum inventory holding so that the business is able to function smoothly. The importance of inventory holding magnifies in case of Event Management Company as the type of business warrants proper inventory to ensure that the program is executed properly. Since, event management companies look towards ensuring that the program held by them are according to the customer requirements and the customer agrees to pay the company a sum of money based on the program and event they are going to provide. Since, the business is into service sector where the event management companies look towards providing the customers with the best possible manner to manage an event. This might result in a situation where the company will require some more inventories as the nature of the business might result in more guest and the company has the ensure that the requirements are met. This has made the event management companies develop a strategy where they hold the required number of inventory so that the requirements of the customers can be met. The fact that event management company also look towards conducting two or more than two simultaneous events at a time it makes it imperative that the inventory is decided accordingly. The company also has to look towards having certain type of inventories which will be hardly required but since a requirement might crop up during the course of the event and the company might require it so that event management companies has to plan accordingly Further, the fact that the event management companies look towards customer satisfaction and this is the corner stone based on which future events will be assigned to them. This makes it important that the event management companies are able to perform the event in the best possible manner for which they might even require certain type of inventories in increased quantity. The nature of the business and the manner in which the importance of inventory has grown for event management companies it has become imperative that event management companies looks towards identifying the optimum inventories required. This has also resulted in companies having more inventories than required so that the customer needs can be met at any moment. Thus, inventory holding has an important aspect in case of event management companies and event management companies need to ensure that they are able to hold the required inventories which help them to provide proper services and ensure maximum customer satisfaction so that the business can look towards the same customer in the future. Read More