Unit 1: Introduction – Consumer Needs‚ Motives and Values Operation Management (OM) is the science and art of ensuring that goods and services are created and delivered successfully to customers. Applying the principles of OM entails a solid understanding of people‚ processes‚ and technology and how they are integrated within business systems to create value. Nature of Operations Management The traditional management paradigm revolves around four basic functions – Planning‚ Organizing‚ Directing
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Table of Contents Executive Summary3 1.0 Introduction4 1.1 Company Background5 - 6 2.0 Target Market7 3.0 Operations Objectives & strategies8 - 10 Finexasia Operations Strategies10 - 12 4.0 Integration & Problems of Operations Objectives13 5.0 Recommendation & Conclusion14 References15 Executive summary The purpose of this report is to analyze the operations objectives and strategies in Finexasia.com Sdn. Bhd. Established in 2001; Finexasia.com Sdn. Bhd. operates the
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SUB: OPERATIONS MANAGEMENT 1. Production planning functions can be broadly identified as a) Estimating ‚ routing ‚ distribution b) Estimating‚ routing‚ scheduling c) Estimating‚ distribution‚ collection d) Distribution‚ collection‚ scheduling 2. For efficient process of order picking by personnel‚ communication plays a vital role in any Organization and the directives they need to have are ____‚ _____ and _______. a) Simple‚ clear and straight b) Straight‚ clear and easy
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Lean Management in the Construction Field Everywhere you look‚ there are new construction projects being started and built. Construction is one of the top industries in the world‚ and with that‚ the construction industry is one of the largest contributors of waste and pollution. According to the U.S. Environmental Protection Agency (2004)‚ “the U.S. building industry accounts for 39% of total energy use‚ 12% of total water consumption‚ 68% of total electricity consumption‚ and
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region‚ there are many new buildings to be constructed in coming years and it brings good prospects to our company. However the construction business is also becoming more challenging and competitive. In this respect‚ the way how a company manage its operation has become more important and crucial in order to increase company’s productivity and maintain its competitiveness and profit margins. 2.0 Products And Services Our company specialise in the design‚ supply‚ fabrications and installation of
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Without innovation organisations can lose their competitive edge to competitors in the market every operation department in any organisation need to develop innovative products‚ services‚ process‚ designs and manufacturing processes in order to respond to customer requirement and improve services delivery of an organisation. African organisation need to integrate operation strategy with innovation management in order to effectively compete with world-class organisation and improve their operational efficiencies
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Question 1 DEFINE OPERATIONS MANAGEMENT AND DISCUSS ITS ESSENTIAL FEATURES AND THE IMPORTANCE/BENEFITS OF OPERATION PRIORITIES Introduction: Every organization is in business because it has products‚ services and in some cases a combination of the two (i.e. product and service)‚ that it offers customers as a solution to a particular need or want they have. This implies that‚ the very core business of every organization is to get these products and services readily available to customers‚ through
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capital. The Trust was the managing organization of the dabbawallah meal delivery network. The dabbawallahs’ service‚ often referred to as tiffinwallahs outside of Mumbai‚ was cited internationally by management scholars and industry executives as an exemplar of supply chain and service management. The service had acquired a reputation for its delivery reliability in Mumbai. International interest in the dabbawallahs was largely due to a 1998 article published in Forbes: Mumbai’s "tiffinwallahs"
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Strategically‚ operations management involves the long-term planning and structuring of work. Indeed‚ the task of operations strategy is to design the operating system‚ which is the joint configuration of resources and processes‚ such that its resulting competencies are aligned with the organization’s desired competitive position. In other words‚ operations strategy focuses on how to best enable and implement the organization’s strategy. (For for-profit organizations‚ “best” can be measured as maximizing
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face-to-face customer service‚ and usually always has a building for their operations. A “brick and mortar” grocery has advantages and disadvantages compared to an online operation‚ like Theorganicgrocer.com. First of all‚ their major disadvantage is the overhead. The cost of property‚ insurance‚ taxes and staff is much higher for a “brick and mortar” operation than an online operation. The biggest advantage for a “brick and mortar” operation is customer security. To a customer‚ if a company has physical presence
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