Operations Management Assignment: Managing Operations Within An Organization

Question

Task: The main purpose of the individual reflection is to reflect on the ability of applying the appropriate knowledge, frameworks and techniques in Operations that we discuss in class, in your workplace. Write an operations management assignment addressing the following points:
1-Explain how you would use the concepts learned in the course to solve a real-world operational problem (strategically, tactically or operationally).

2-Explain how this course have changed you (if any) as a person and as a business-person and through which concepts these changes happened. (This is NOT an evaluation of the course)

Answer

Introduction
Only productivity is being identified as the ratio of source to destination, which may verify employee input. As seen in the current scenario of operations management assignment, OM ensures the management of supplies to gain the best business outcome. The use of advanced strategic management will have to make sure productivity is higher. Product servicing costs are reduced through increased productivity and customer satisfaction. As a result, an increase of revenue on OM helps to maintain operations when operational costs are reduced, and waste is eliminated. Effective OM ensures that the right amount and size of items are delivered. In this assignment, the researcher will discuss the concepts of managing operations.

Part 1
Value Proposition
The fundamental reason for a client to buy from a company is the value offer. The value that company brings to the world will help to maintain a market-based economy with the help of business model. A strong business model is consequently critical for an organization's growth.

A properly defined value proposition is necessary for whole company ecosystem to comprehend what benefit it should offer like product development, customer care and the value it should convey (Bernardon and Garcia, 2018). Every industry is becoming more competitive, and firms are progressively undercutting their rivals to remain ahead of the pack. When a rival steals their business by cutting their pricing is normal to become offended by their customers. One may be inclined to retaliate, but this is an unsustainable and maybe irreversible tactic.

Identify and evaluate the advantages of the organization and its services or products include expenses associated with delivering them. This is critical since the value of their product to business consumers is basically the difference between its advantages and prices. Determine all primary rivals' strengths and shortcomings. As per the rival’s weakness the company needs to set strategies to make their company performance different from them. (Besbes and Sauré, 2016).A convincing value proposition is ideal customer should purchase from business rather than from their competition to make them apart from the competitors. The operation management will assist businesses in making the most use of their resources, which include equipment, technology, materials, and personnel. To fulfil the needs of the clients, the operation manager would need to deliver and develop successfully.

Flow Time Management
The Flow time Management will assist commercial enterprises in initiating continual project development. Flow time Management may be used by the business firm to better understand their own processes. Throughout the Flowtime process, using the time-tracking tool will help to keep track of their time. This application provides a chronological view of the daily concentration periods and pauses are allowing everyone to quickly examine them. Users can simply measure their performance because it provides the entire chronology of the activities and timings (Bond et al., 2020). The Flow time Management will assist the company in identifying all of the difficulties that are interfering with its operations.

Operational Measure of Performance
The operations department faces a difficult task: enhancing firm efficiency in order to maximize operational profit. The business firm probably trailing behind their competition if they are counting the number of trucks departing their plant each day are hanging about. KPIs dashboards are used by leading firms to maintain their total productivity in real time. This enables management to make data-driven choices in a timely manner. The pace of output of a machine, line, or facility over time is measured by throughput. This aids organizations in determining their capacity to meet production deadlines. Managers who apply these principles to their operations will be able to better comprehend company processes. All of the things were delivered in a timely manner. The product or service will be checked for functioning and quality by the operation management.

Process Flows
One of the most crucial aspects of operation management is addressing the expectations of customers in order to keep their firm afloat. All final services or goods are created to fulfil the demands of the consumer in every situation (Canton, 2019). The company process might be improved by catering to all of the consumers' needs. The corporation will need to form long-term partnerships with non-profits and organisations that share its beliefs.

Inventory Management
One of the most important techniques for selling a comparable service or product to a similar consumer base is to employ competitive pricing. Business enterprises will be able to focus on price competitiveness rather than overheads and production expenses as a result of price competition. Consumers must do a complete market study and collect robust data to maintain track of rivals' pricing in order to choose the appropriate price. Some businesses utilise rival pricing tracking software to keep track of all the latest service and product developments (Choi et al., 2018).

Competitors will be able to respond more swiftly to market competition if modern technologies are used.
Inventory management is essential for improving product quality will be enhancing total competition. The present strategy will be cutting inventory which includes its total carrying costs. The cost will be limiting stockpiles, improve staff performance, and flexibility on operations. Inventory management uses techniques that are incorporated into all management controlling, planning, and processes are vital to management success. Every company's inventory requires a considerable lot of attention in order to keep it in good shape. In terms of stock purchases and sales, the list often comprises the most profitable cash in any firm to maintain their operations.

The ability to create common criteria is one of the most important features of a pharmaceutical product. Dissolution time, personal features, shelf life, and stability are all requirements for any goods (Carmo et al., 2017). When purchasing raw materials, all pharmaceutical companies must exercise extreme caution. Using the new product development, firm can maintain both packaging and raw materials. The batch that pharmaceutical companies will manufacture must be stored under certain conditions.

Risk Management

Waiting Lines
The procedure might be started to examine the product's development to benefit the primary market system. The product must be tailored to the local climate and topography. In a finite population situation, the number of consumers visiting the service counter is limited. It also implies that after a client has been served, they will leave the queue, lowering the overall consumer population. The finite population model covers a situation in which a client (Choi et al.,2018). After being serviced always returns to the service counter for more service are resulting in a greater in the finite population. The general premise of queue theory is that a particular population of consumers has finite resources are adding a new service line would raise the cost of the company.

Quality Management
Quality management involves not only the productiveness of product and manufacturing of staff. Each and every corporate employee make sure that customers are given a wide range of alternatives on the marketplace with the help of digital marketing. They are considerably more aware of maintaining high quality standards. As a result, businesses must adhere to Quality Management on acquiring a loyal customer base. It will be keeping their cash registers active on the business.(Gupta and Rokade, 2016).

When all of the company's employees understand and follow the Elements of Quality Management. Allthe elements efficiency rises because they recognize the product they're are making and marketing is the best in the industry.

Understanding the complete process gives them more confidence and agility increases their efficiency by a factor of ten. The compliance quality determines whether or not the process provided the expected service to the clients (Dadu et al., 2017).

Part 2
Description
With the help of the Six Sigma method, I will construct a proper schedule for employees to complete work as per customer demands. The information will assist me in improving my personal and professional abilities. Currently, through six sigma types, I will concentrate on the benefits of a customer-focused strategy. As per the review, I have studied competency management that assisting managers and staff in identifying all critical abilities. All of the skills will provide help for the employee to achieve their individual objectives. I am able to detect all talents necessary for selecting the best candidate. Similarly, in the content of this publication, I hadanalyzed the parts and basic operations.

Feeling
I always feel that to build the client base because I believe it must be more comprehensive and methodical. I have seen quality policy will serve as a clear indication of the duties of consumers and workers. I' had reclaimed all of the opportunities I need to improve my loyalty, honesty, and abilities. It will improve my general participation in the workplace. Throughout my course, I had also witnessed how a strong competent leadership approach may assist me to grow the value for management and the company's image. I had noticed that the organization always has a set invoice payment term with its customers. I have learned that I had adequate flexibility and time to be paid under the agreements. The complete transaction procedure between the firm and the clients runs smoothly.

Evaluation
I saw that consumers may pay their bills beyond the deadline, making the firm extremely dangerous to operate. While at work, I discovered that most organizations’ payments are 20 days late from the agreed-upon conditions. It is a significant disadvantage for the firm because the majority of their payments are received after roughly two months. I believe that the firm's operation can be sustained if interest rates are imposed on consumers who do not pay by the given deadline. According to my information grabbed by the OM course, management will be a helpful and valuable element of the corporation in resolving any manner of issues and providing useful business analysis. The corporation lacks adequate communication, which will allow for an uninterrupted flow of information across the organization.

Action Plan
Analyzing trends and mining data, in my opinion, are among the overall tools and strategies associated to problem-solving skills. Furthermore, as the business's development process progresses, it will be my obligation to identify possible areas of concern. As a result, it will be critical for me to evaluate, solve, and discover difficulties during my time with the organisation.

Conclusion
Using the design, resource may be organized with the least waste and maximum labour efficiency. All of the goods are shifted from one raw material to the next based on their specific needs. Business businesses will benefit from a smart layout design since it will make it easier to coordinate all of their activities. The arrangement was created to facilitate the coordination of workers, departments, and equipment. The layout design should present a full image of the company. The new layout design will lower total manufacturing costs by reducing material, equipment, and people needs. ?

Reference
Bernardon, D.P. and Garcia, V.J. eds., 2018. Smart Operation for Power Distribution Systems: Concepts and Applications. Springer.’

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Canton, L.G., 2019. Emergency management: Concepts and strategies for effective programs. John Wiley & Sons.
Carmo, A.C.M.D., Piras, S.S., Rocha, N.F.M. and Gratieri, T., 2017. Main reasons for registration application refusal of generic and similar pharmaceutical drug products by the Brazilian Health Regulatory Agency (ANVISA). BioMed research international, 2017.
Choi, M., Dai, A.Y. and Kim, K., 2018. Consumer search and price competition. Econometrica, 86(4), pp.1257-1281.

Chowdhury, B. and Deb, S.K., 2017. Cause-Effect Diagram Versus System Dynamic Model–A Case Study of Manufacturing Defects Analysis. Cause-Effect.
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Goodarzi, M., Goodarzi, M., Sheikhi, M. and Shabani, M., 2017. Commercialization Process of Biopharmaceuticals Development. International Journal of Innovation, Management and Technology, 8(4).
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