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Stratergies (Operations (Quality management (Assurance, Improvement,…
Stratergies
Operations
Performance objectives- quality, speed, dependability, flexibility, customisation, cost
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Supply chain management- logistics, e-commerce, global sourcing
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Technology- leading edge, establishment
Inventory management- advantages and disadvantages of holding stock, LIFO (last-in-first-out), FIFO (first-in-first-out), JIT (just-in-time)
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Overcoming resistance to change- financial costs, purchasing new equipment, redundancy payments, retraining, reorganising plant layout, inertia
Global factors- global sourcing, economies of scale, scanning and learning, research and development
Marketing
Market segmentation, product/ service differentiation and positioning
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Price including pricing methods- cost, market, competition- based
Pricing strategies- skimming, penetration, loss leaders, price points
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Promotion
Elements of the promotion mix- advertising, personal selling and relationship marketing, sales promotions, publicity and public relations
The communication process- opinion leaders, word of mouth
Place/ distribution
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Channel choice- intensive, selective, exclusive
Physical distribution issues- transport, warehousing, inventory
People, processes and physical evidence
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Human Resources
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Recruitment- internal or external, general or specific skills
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Rewards- monetary and non monetary, individual or group, performance pay
Global- costs, skills, supply
Workplace disputes
Resolution- negotiation, mediation, grievance procedures, involvement of courts and tribunals
Finance
Cash flow management
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Distribution of payments, discounts for early payment, factoring
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Profitability management
Cost controls- fixed and variable, cost centres, expenses minimisation
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