Introduction to Operation Management Essay
Introduction to Operation Management
If you would like to choose an organization that is NOT from the above list, please consult your professor. For SLP 1, identify the following by writing a paper (with paragraphs, including an introductory, body, and concluding section): 1) The organization’s name and main line of business,
2) A specific type of operations process that takes place there (either service or product), 3) Describe the nature of the operations given your newfound understanding of operations management and productivity. 4) You may identify the strategy or global strategy of that organization. Feel free to consult background readings, browse our library to find more articles, and check the relevant websites to support your argument.
An organization efficiency and effectiveness are necessary to surface in this new era of business where maintaining a competitive edge is the difference between succeeding and faltering. In this paper I will describe and analyze the operation management by describing and analyzing the different operations management perspectives and its productivity.
The organization I have chosen to study and analyze is Wal-Mart Stores, Inc., their line of business is retail. Since Wal-Mart is one of the top supermarket chains in the country exporting to 27 countries and sells a large number of products, the company runs on multiple levels and since some products have different regulations than other obviously the operation management has tuned to the specific needs of the product. Not only has the operation management pertained not only for goods but also for services. Since 2009, The Sustainability Consortium (TSC) and Wal-Mart have worked together to create a system that measure and report the sustainability of products by developing tools to enhance the capacity to comprehend and state the environmental, social, and economic effects of products.
This process of researching product sustainability is used to expand knowledge of top grossing products and find out how to improve the quality of the products. By improving the quality they can manufacture better products at a lower cost and sell it the same of higher price increasing profits. On the other hand, by testing product sustainability new eco-friendly products can be produce and lower the environmental impact while still satisfying consumer demand. The second step is researching the consumer, what they think about the product and how the product is used. This enables manufacturing companies to meet the consumer needs. After all the researcher is done, new found data is combined with new tools to produce better product quality and transparency creating a stronger trust between Wal-Mart and its customer.
The nature of this operation is based on the idea of lowering costs while maintaining profits. By researching the products they learn the ins and outs of how it is made, the costs of production, and the sustainability of the product. This allows them to look into cheaper methods and materials while still maintain same safety, health and environmental standards. Furthermore when they research the consumer, they find out what the consumer really needs and provide more to fill that need.
Whatever profits are saved they can invest into better tools, production equipment, or anything used to further advance the company. The global strategy (as well as general strategy) is to invest in lower prices. By expanding the types of products sold and bringing back assortments the customer base is expanded, since now the convenience of finding everything you need in one place is available. When this convenience is combined with lower prices, it makes Wal-Mart a retail juggernaut that will be nearly impossible to top.
In conclusion, operations management is a key tool in controlling all aspects of a business. By managing operations you can cut costs, accidents, or even increase profits. An example would be Wal-Mart’s product sustainability management. By investing in this process they have advanced their company in many aspects, giving them an advantage in their business.
Plenert, Gerhard J. (2002). International Operations Management. Retrieved January 17, 2013 at: http://site.ebrary.com/lib/tourou/search.action?p00=International +Operations+Management&fromSearch=fromSearch&search=Search Wal-Mart Stores, Inc. (2012) 2012 Annual Report. Retrieved on January 17, 2013 at: http://www.walmartstores.com/sites/annual-report/2012/CEOletter.aspx Wal-Mart Stores, Inc. (2012) Global Responsibility. Sustainability Index. Retrieved on January 17, 2013 at: http://corporate.walmart.com/global-responsibility/environment-sustainability/sustainability-index
University/College: University of Chicago
Type of paper: Thesis/Dissertation Chapter
Date: 7 November 2016
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