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Business Competitiveness, Efficiency and Effectiveness (pg.176 - 179) -…
Business Competitiveness, Efficiency and Effectiveness (pg.176 - 179)
Quality
Multifaceted and addresses the quality of the design of the product and/or the quality of service and the process used to produce it
Production standards are based on the quality expectations of the consumer, with characteristics such as performance, reliability and aesthetics deemed important
Quality of conformance is the degree to which a product, service or process meets its design specifications
Speed
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Doing things fast, to minimise custoemr wait times and shortern lead times
Can be acheived through technology such as computer-aided desoign (CAD), computer-aided manufacturing (CAM) and robotics
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Flexibility
Is the ability of a business to change what it does quickly and be able to adapt to internal and external influences
How quickly a business can change its operations system to respond to the market and adapt to changing consumer needs it terms of product range and varying demand
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Cost
The operatins function is largely an expenditure area for a busiess and refers to the cost involved in producing goods and services at a level which will neable them to be priced appropriately and reflect marketing strategies
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As a business matures, it shoudl become more efficent and this manage expenses more productively
Strategic operations management invvolves cost leadership, which means having the lower costs within the industry
Costs will be care analysed, with a view to achieving cost savings and increasing efficiency
If a business is competing on price then cost control is critical, or cost leadership may not be achieved.
Procurement of new technoploges can help a business lower costs, maximise use of resources and minimise waste, thereby reducing operational costs
