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4VS Analysis and it application On McDonald - Report

   

Added on  2020-04-15

8 Pages1589 Words374 Views
Running head: 4VS ANALYSIS ON MCDONALDS 14Vs Analysis on McDonaldsName:Institutional Affiliation:
4VS Analysis and it application On McDonald - Report_1
4VS ANALYSIS ON MCDONALDS 2Table of Contents1.0 Importance of 4Vs Analysis......................................................................................................32.0 Application of 4Vs to McDonalds.............................................................................................42.1 Volume...................................................................................................................................42.2 Variety....................................................................................................................................52.3 Variation.................................................................................................................................62.4 Visibility.................................................................................................................................63.0 Recommendations......................................................................................................................64.0 References..................................................................................................................................7
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4VS ANALYSIS ON MCDONALDS 34Vs Analysis on McDonaldsAny organization aims to make full and effective use of operations to ensure that customers are satisfied with quality, availability, cost and quantity. To achieve this an organization must efficiently produce goods through business processes that are effective. The production functions of the company and controls that have been put in place must be effective (Slack, 2015). The measures of optimization that can be used are degree of operational visibility, output volumes, demand variations and demand of products and services.1.0 Importance of 4Vs AnalysisThe 4v analysis looks at volume, variation in demand, visibility and variety. All these factors are of importance in the operations of a company. Volume is the amount of products, which are required to satisfy customer demand. It is important that companies control volumes based on demand so that they do not over produce or under produce. Lack of volume management can lead to an organization not being able to deliver or wastingresources in terms of finances and labor (Shepherd & Patzelt, 2017). It is important that when organizations are managing lead times, they need to control and adjust volumes. Variation refers to the way in which demand levels change over periods. Organizations mostly like to have low variation though some high but predictable variations. It is important for organizations to understand variations so that they are able to adjust accordingly to customer demands. Variation in demand can apply for businesses that are seasonal for example those that sell air conditioning or ice cream. Some businesses however might
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