Operations Management Techniques (Essay Sample)
1. Propose and implement operational management techniques to maintain and improve core business processes
2. Critically evaluate the contribution made to business effectiveness through quality management practices & supply chain procedures.
1. PROPOSE AND IMPLEMENT OPERATIONAL MANAGEMENT TECHNIQUES TO MAINTAIN AND IMPROVE CORE BUSINESS PROCESSES
2. CRITICALLY EVALUATE THE CONTRIBUTION MADE TO BUSINESS EFFECTIVENESS THROUGH QUALITY MANAGEMENT PRACTICES & SUPPLY CHAIN PROCEDURES.
CRITICAL ANALYSIS ON OPERATIONS MANAGEMENT TECHNIQUES
1 Supply Chain Management (SCM)
2 Quality Management Process (QMP)
3 Ceylon Cold Store PLC (CCSP)
Table of Contents TOC \o "1-3" \h \z \u List of Figures PAGEREF _Toc88464548 \h 4List of Tables PAGEREF _Toc88464549 \h 4Acknowledgment PAGEREF _Toc88464550 \h 4Introduction PAGEREF _Toc88464551 \h 51.1 Brief overview PAGEREF _Toc88464552 \h 61.2 Value Chain PAGEREF _Toc88464553 \h 71.3 Supply Chain Management PAGEREF _Toc88464554 \h 91.4 Supply Chain of Ceylon Cold Store PLC PAGEREF _Toc88464555 \h 101.5 Quality Management process PAGEREF _Toc88464556 \h 101.6 Critical analysis of value chain segments PAGEREF _Toc88464557 \h 111.6.1 Inbound Logistics PAGEREF _Toc88464558 \h 220.127.116.11 Strength and weakness of quality Management Processes PAGEREF _Toc88464559 \h 18.104.22.168 Suggestion to improve Business Profit PAGEREF _Toc88464560 \h 131.6.2 PAGEREF _Toc88464561 \h 22.214.171.124 Strength and Weaknesses of Supply Chain Procedures PAGEREF _Toc88464562 \h 126.96.36.199 Strength and Weakness of quality Management Processes PAGEREF _Toc88464563 \h 188.8.131.52 Suggestion to improve business profit PAGEREF _Toc88464564 \h 141.6.2: PAGEREF _Toc88464565 \h 184.108.40.206 Strength and weaknesses of supply chain procedures PAGEREF _Toc88464566 \h 220.127.116.11 Strength and weaknesses of quality management process PAGEREF _Toc88464567 \h 18.104.22.168 Suggestion to improve business profit PAGEREF _Toc88464568 \h 151.6.3: PAGEREF _Toc88464569 \h 22.214.171.124 Strength and weaknesses of supply chain procedures PAGEREF _Toc88464570 \h 126.96.36.199 Strength and weaknesses of quality management process PAGEREF _Toc88464571 \h 188.8.131.52 Suggestion to improve business profit PAGEREF _Toc88464572 \h 15
List of Figures
TOC \h \z \c "Figure" Figure 1 PAGEREF _Toc88460152 \h 8
Figure 2 PAGEREF _Toc88460153 \h 9
List of Tables
TOC \h \z \c "Table" Table 1 CCSP Business Model and Value creation. PAGEREF _Toc88459589 \h 9
Table 2 PAGEREF _Toc88459590 \h 10
First and foremost, I would like to express my gratitude to my professor (name of the professor) not forgetting the principal (name of the principal) who has continuously given me support in my line of study; I would like to thank them for providing me with this golden chance. I have come to learn many things during this research that I didn’t know before.
Secondly, I would like to thank my fellow students who have helped me do this paper; your Assistance was highly appreciated. Last but not least, I would like to thank my parents for their continued support by providing all the materials that I needed, and I was able to finish in time.
Ceylon Cold Store PLC (CCSP) has an attractive heritage of serving excellent Sri Lankans for 152 years. They have been able to offer value and quality in beverages, cold confectionery, and retail. They have expanded within the years by improving manufacturing capabilities, product improvement, and creating value for the customers, communities, supplies, partners, and shareholders. This critical thinking analysis will look at how Ceylon Cold Store Company has used Operations Management Techniques to record the success and challenges encountered and how they have implemented Supply Chain Management systems(SCM) in this company.
1.1 Brief overview
Propose and implement operational management techniques to maintain and improve core areas in( CCSP)business operations, this will include quality management process(QMP), supply chain management, and also critically evaluate the contribution made to business effectiveness through (QMP) practice and supply chain procedures (1.4.2. Value Chain Analysis - Overview | Marketlinks, 2021). We will also look at critical analysis of value chain segments which include:
1 inbound Logistics
2 outbound logistics
4 sales and service
We will also look at the Strengths and weaknesses of SCM, the Strengths and disadvantages of quality management processes, and suggestions to improve business profit. Operational management techniques have improved many businesses by implementing the right way.
1.2 Value Chain
The value chain is a business model illustrating all the procedures to create a service or product (What Is a Value Chain Analysis? 3 Steps | HBS Online, 2020). When it comes to companies that manufacture a product, Value Chain involves the creation of the product for distribution. Also, it includes all the things involved in-between that provide for marketing activities, manufacturing, and procurement of raw materials(1.4.2. Value Chain Analysis - Overview | Marketlinks, 2021). A company conducts a value Chain Analysis to assess the procedures involved in each business step. The value chain analysis increases productivity and effectiveness. To discern areas of business that are less reproductive value chain can help by implementing strategies that will maximize competence and profitability (Hart, 2021).
Figure SEQ Figure \* ARABIC 1
Porters' Value Chain divides a business activity into two categories: primary and secondary (2021). CCSP has well-structured infrastructure inputs: property plants and types of equipment, thus producing an attractive and diverse range of beverages and frozen confectionery(1.4.2. Value Chain Analysis - Overview | Marketlinks, 2021). When it comes to procurement, CCSP could procure ingredients, equipment, and other raw materials. When it comes to financing, they have 13,683 Rs Million. Human resource management also plays a good role by ensuring that employees get rewarded for their excellent work. The company made sure to input human capital worth 5,542 Rs to improve skills. Attitude also works ethic for the employees. A company needs to develop its technology by automating processes by designing manufacturing techniques. After establishing a thriving structure technology, the company will be able to maximize its profit. This structure helps to increase Profit margins and competitiveness.
Table SEQ Table \* ARABIC 1. CCSP Business Model and Value creation.
12,869 Rs Million
A diverse range of beverages
1.3 Supply Chain Management
Figure SEQ Figure \* ARABIC 2
SCM is the process whereby goods and services flow from the manufacturer to the consumer(1.4.2. Value Chain Analysis - Overview | Marketlinks, 2021). For a company to achieve all that, it must have a network of supplies for each level. There are three components of SCM:
1 Production ensures that the products are of high quality and quantity.
2 Demand/Inventory ensures that the consumer demand is met by managing inventory and manufacturing.
3 Return of goods makes sure that the customer can return goods o meet customer satisfaction.
4 Sourcing ensures that there is a relationship built with the suppliers.
5 Planning entails the making of decisions whether to make or buy locally or internationally.
1.4 Supply Chain of Ceylon Cold Store PLC
CCSP demonstrates that it uses SCM, whereby it uses Sourcing as a component to ensure that they have a well-maintained relationship with the suppliers (Skills and Management, 2021). The connection will be achieved by:
1 The process where they select the supplier.
2 Ongoing dialogue through phone call emails etc.
3 Supplier convention annually.
4 Audits and site visits
5 Ongoing training programs.
1.5 Quality Management process
Table SEQ Table \* ARABIC 2
QMP is when various actions and tasks are taking place to ensure that products and services are consistent. It focuses on long-term goals by focusing on short-term goals. QMP consists of four concepts which include:
1 Quality planning provides the stakeholders with an outline of standards to follow.
2 The quality assurance concept ensures the project continues until it's complete and the agreed plan is effective. Reviews structures are two formal and informal, including reviewing a product or the processes.
3 Quality control measures and tests the project to confirm it meets the specifications and stakeholders' specifications.
4 The continuous improvement concept makes sure it supports them and improves the quality of a project.
1.6 Critical analysis of value chain segments.
Value chain analysis is where a company comes up with structures to achieve a value chain, which can achieve success (1.4.2. Value Chain Analysis - Overview | Marketlinks, 2021). Value chain segments include:
1 Inbound includes inventory, warehousing.
2 Operations are the process where you convert raw materials to a finished product.
3 Outbound logistics is the distribution of a product to the consumer.
4 Marketing and sales this where promotions and advertising target customers
5 Service is where maintenance, repair, exchange are refunded.
1.6.1 Inbound Logistics
Inbound logistics refers to the network that involves bringing goods and services t...
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