OPERATION MANAGEMENT ABLE EBOOK
Operations Management is about how organisations produce or deliver the goods and services . supply and ability to meet fluctuating demand respectively. 1. 'Operations Management' is an accessible introduction to the subject that will help readers to extend their understanding of key concepts and enhance their. presents an introduction and overview of operations management. Among success or failure of companies' operations functions has an impact on the ability of.
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Editorial Reviews. About the Author. Philip Moscoso, PhD is Full Professor in the Department of Operations Management for Executives reviews all that managers should know to be able to turn the operations of their companies into a source. Introduction to Operations Management-1 - Kindle edition by B. Mahadevan, B. Mahadevan. Download it once and read it on your Kindle device, PC, phones or . 5 th EDITION Operations Management An Integrated Approach R. Dan Reid . of homework practice, feed- back for students, an e-book, and much more. .. At the end of each chapter, there is a list of activities avail- able on the Web site.
Well, in practical application, strategy can refer to both of those things and more.
To help you understand strategy in business, this article is going to look at the three levels of strategy that are typically used by organizations. Only when all three of these levels are carefully considered will your business be able to get on the right path toward a prosperous future.
Before you dive into deeper, more specific strategy, you need to outline a general strategy that is going to oversee everything else that you do.
At a most basic level, corporate strategy will outline exactly what businesses you are going to engage in, and how you plan to enter and win in those markets. It is easy to overlook this planning stage when getting started with a new business, but you will pay the price in the long run for skipping this step.
It is crucially important that you have an overall corporate strategy in place, as that strategy is going to direct all of the smaller decisions that you make.
For some companies, outlining a corporate strategy will be a quick and easy process.
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For example, smaller businesses who are only going to enter one or two specific markets with their products or services are going to have an easy time identifying what it is that makes up the overall corporate strategy. If you are running an organization that bakes and sells cookies, for instance, you already know exactly what the corporate strategy is going to look like — you are going to sell as many cookies as possible.
However, for a larger business, things quickly become more complicated. Carrying that example forward to a larger company, imagine you run an organization that is going to sell cookies but is also going to sell equipment that is used while making cookies. Entering into the kitchen equipment market is a completely different challenge from selling the cookies themselves, so the complexity of your corporate strategy will need to rapidly increase.
Before you get any farther into the strategic planning of your business, be sure you have your corporate strategy clearly defined. In other words, the strategies that you outline at this level are slightly more specific and they usually relate to the smaller businesses within the larger organization.
Carrying over our previous example, you would be outlining separate strategies for selling cookies and selling cookie-making equipment at this level.
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You may be going after convenience stores and grocery stores to sell your cookies, while you may be looking at department stores and the internet to sell your equipment. Those are dramatically different strategies, so they will be broken out at this level. Even in smaller businesses, it is a good idea to pay attention to the business strategy level so you can decide on how you are going to handle each various part of your operation.
The strategy that you highlighted at the corporate level should be broad in scope, so now is the time to boil it down into smaller parts which will enable you to take action.
Functional Strategy This is the day-to-day strategy that is going to keep your organization moving in the right direction. The system allows for more functionality to increase productivity, leaving room for your property to grow. Budgeting software should adapt to your specific market type and account for expenses unique to that particular market.
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The budgeting tool should be easy to configure, distribute budgets to the appropriate personnel and be able to track projects through to completion. It should offer flexible reporting with detailed real-time or summary-level information for period or long-term forecasts. Purchasing With the right spend management tools, you can improve efficiency, reduce expenses and create healthier purchasing habits.
These tools ensure that purchases are being made through a system of approved vendors. You can also set up a system of discounts and standardized products to increase control and reduce spending.
Facilities Even with the healthiest of properties, accidents happen. A customizable mobile inspection app can accommodate your maintenance team and allow them to quickly document findings at move-in and move-out.
It can create and respond to work orders in the field, ensuring that your property operates in peak condition. Document Management Bulky, expensive, risky and time consuming are not words you want to think of when envisioning your healthy property. These words, however, are all associated with using paper document management systems.
A document management system should be virtually paperless. An electronic document management system needs to be cost effective, able to meet compliance regulations and improve workflows.
This system helps increase efficiency, reduce printing and paper storage costs and secures documents in a digital format. Reporting A healthy property depends on the strength of your reporting tools. The more accurate and up to date the information, the healthier the property.
Full visibility into business operations provide more secure, stable, fast and reliable transactions.As you work on putting together your functional strategies, remember to keep in mind your higher level goals so that everything is coordinated and working toward the same end. Log In Sign Up.
Rectangular shapes facilitate expansion on any side.
Identification of region: Avoiding areas where competitors are already well established often pays. Since the products of one plant feed into the other plant, this strategy requires much centralized coordination of the manufacturing activities from the corporate office that are expected to understand the various technological aspects of all the plants.
A customizable mobile inspection app can accommodate your maintenance team and allow them to quickly document findings at move-in and move-out. Depending on the industry, a load may be shipments from suppliers, between plants, or to customers, or it may be customers or employees travelling to or from the facility.