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Assignment on Operations Management

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An essay on Operations Management
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    Assignment on “Operations Management in Business”    1 | Page   Table of Contents  Sl No. Particulars Page no. 1.1 Explain the importance of operational management to WH Smith. 2 1.2 Explain the need to produce safely; on time; to cost; to quality and within the law in WH Smith 3 1.3 Explain the link between Operations Management and Strategic Planning as it concerns WH Smith. 4 1.4 Produce a system diagram to illustrate a typical business of WH Smith 5 2.1 Explain the ‘Three Es’ in WH Sm ith 6 2.2 Explain the tension between cost minimization and quality maximization at WH Smith. 6 2.3 Evaluate the significance of the five performance objectives that underpin operations 7 3.1 Explain Linear Programming using any WH Smith operation.   8 3.2 Evaluate critical path analysis and network planning using any WH Smith operation   8 3.3 Explain the need for operational planning and control using any WH Smith operations. 9 4.1 Produce a clearly defined set of operational outcomes using any WH Smith operation 9 4.2 Produce a network plan and and indicate the resultant critical path using any WH Smith operation. 10 4.3 Explain how quality could be defined and maintained using any WH Smith operations. 14 Reference 15  2 | Page   Task 1: Produce a document explaining the nature and importance of operation management and its key elements 1.1 Explain the importance of operational management to WH Smith. Answer: To be able produce professional managers capable of fulfilling strategic roles within business and government enterprises the need for the practice of operations management cannot be forgone. Operations management is very important in business operations since it forms the heart of the organisation by controlling the system of operation. Operations management deals with the design, operation, and improvement of the systems that crea te and deliver a firm’s primary  products and services. Like marketing and finance, operations management is a functional field of business with clear management responsibilities. WH Smith is a well known book retailer and news agent in the UK. In a business entity like WH Smith the use of operations management is very necessary in every fabric of the company’s activities. WH Smith uses operat ions management to ensure and sustain efficiency and effectiveness in the organisation. Efficiency in WH Smith is concerned with how well resources such as human expertise and inputs are put in use irrespective of the purpose for which they were deployed in the company. The company through its activities ensures that the  primary objective for its establishment to make profits and maximize shareholders value is realized. The company reduces its cost by cutting down the less profitable projects. This is a situation where the company carries out effectively its objectives to be the market leader using minimum resources to achieve maximum output. The measures of effectiveness and efficiency in WH Smith leads to productivity, yield, capacity fill working capital utilization and the efficiency of production systems. Management Control and Coordinating Function cannot be forgone in operations management especially in a company like WH Smith. Management control and coordination includes a broad range of activities to ensure that the company’s goals are consistently being met in an effective and efficient fashion. Basically, organizational coordination and control is what the company uses to take a systematic approach to figuring out if it is actually doing what it wanted to be doing or not. Some of the major approaches to the company’s organizational control and  3 | Page   coordination include product evaluation, product distribution, advertising and promotion, sales and service and product development. 1.2 Explain the need to produce safely; on time; to cost; to quality and within the law in WH Smith Answer:   Need to produce safely: The safety of the personnel should be given maximum priority. The efforts of the employees play the most important role behind the success of an organization. So, ensuring their safety in order to safeguard their right. It is also needed to be ensured that with the business operation nobody else is affected. Need to produce on time: WH Smith has earned reputation in own field throughout a decade. The customers want a good service from them. To serve the customer efficiently and retain loyalty, WH Smith should adopt measures to serve the customers on time. Need to produce to cost: The key to success of WH Smith is its cost effectiveness. It helps to save money by not investing less profitable areas and creates opportunities to invest them in more resourceful projects. Need to produce to quality: Quality of service is another factor behind the success of WH Smith. In order to retain the image and customer loyalty, WH Smith has made no compromise with the quality and as long as this  practice continues the company will get going. Need to produce within the law: Any unlawful act by the company may cost incredible loss. This may make the company financially looser and its goodwill will be ruined as well. That is why WH Smith should operate within the law.

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Jul 24, 2017

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