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Most successful organizations recognize the importance of operation management as an important driver of profitability. Such organizations are strategically adept, and they know to focus on acquiring necessary capabilities to thrive. When a business’s operation management capabilities are aligned its business strategies, the enterprise enjoys a coherence premium in the form of an extremely strong market position and superior performance. However, the coherence is not common among all organizations. More often, organization’s business strategies are divorced from their operation management strategies. Lean principles and techniques have been successfully integrated in the retail sector to improve operational flows. The concept has encouraged retailers to produce standard products to meet the demands of their consumers. Characteristics of the retail market are shorter product life cycle, strong competition, the high sensitivity of demand and longer product development time. In order to profitable or more competitive, retailers must operate strategically in order to maximize the operating efficiency. Wal-Mart is one such organization that uses key strategies of operations management. It details a clear sequence of steps that evaluate the cost benefit of operational components. On the other hand, a business strategy entails leveraging the core competencies of the business to realize a defined objective or high-level goal. A business strategy also includes decision-making processes related to the product or service offered the market and timing. While the business strategy guides an organization on the direction it wishes to take, the operation management strategy details the actual operations of that business and the comprehensive supply chain to meet a particular supply chain objective. Thus, operation management strategy supports the business strategy. This paper discusses key strategies of operations management and how they are managed. Key strategies will then be identified to allow the application of Lean Principles to these critical strategies to create quality improvement.
Wal-Mart is well-known for its grocery stores, discount warehouse clubs, general merchandise store and other operating retail stores. The company sells electronic items, video games, baby & kids clothing, toys, fitness and jewelry, sports instruments, groceries and other variety of general merchandise. Over the one decade, the retail has become the world’s largest and a powerful retailer with the highest inventory turnover, sales per square foot and operating profit of any discount retailer. In its transition from a regional retailer to a global powerhouse, the firm has become synonymous with the concept of successful supply chain management. Its key success factors include operation efficiency, supply chain with integrated technology, superior logistics systems, low prices, economies of scale in sales, decentralized operations and a strong, unique culture.
Key strategies of operations management
Design of goods and services strategies
The organization has implemented various strategies that result in consistency quality, costs, and resources across different business divisions. Manufacturers often produce goods but rarely see the end customer. Some collect demographic data to identify customer behavior. Most manufacturing organizations are however not as directly affected by the unique, inconsistent and constantly changing behavior of customers. The intense customer interaction and response to ever-changing customer needs are met by retailers. The impact on customer service within retail stores due to expected process changes cannot be overlooked. Retail consumers have unique sets of needs and requirements. Hence, different consumers may place different customer value on the same product or service. In this sense, a high-quality service or product is necessary if it has to provide the same level of customer value provided that the benefit derived is measured against the cost.
Wal-Mart provides Customer service prior, during and following a transaction. The provision of customer service is a reactive strategy where Wal-Mart offers technical guidance and support in solving issues in use of product or services. The provision of customer service allows the organization to help the customers troubleshoot unique issues that relate to use of products and services. This is used as one of the ways through which Wal-Mart increases customer value. This is because customer support reduces the cost associated with repairs and installation.
Carolyn Morgan is the author of this paper. A senior editor at Melda Research in Reliable Essay Writing Service if you need a similar paper you can place your order for a custom research paper from Trustworthy Custom Essay Writing Service.
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