Table of Contents INTRODUCTION...........................................................................................................................1 SUMMATIVE ASSESSMENT.......................................................................................................1 .........................................................................................................................................................6 REFERENCES................................................................................................................................7
INTRODUCTION Operation management is considered as the main function of a company that deals with planning, developing, monitoring as well as controlling overall process of production. In order to bring improvement in business performance, companies adopt a numerous methodologies to deal with necessary with new trends in market and technology(Banks and Stanton, 2016). Firm which has been chosen under this report i.e. Jaguar Land Rover (JLR), which is a British multinational automotive company and was found in the year of 2008. Company has its headquarter in Whitley, Coventry. Along with this, report will cover new product development, failure modes, target costing, effect analysis (FMEA) and logistic mix. Lastly, assignment will also show some recommendations as well. SUMMATIVE ASSESSMENT New Product Developmentcan be defined as a process which helps in developing a product which specifically aid in meeting customer's needs. This is basically be done by a business organisation when it comes to attaining competitive advantages so that satisfaction can be built among consumers. This helps in building customer loyalty as well and along with this, whole process starts from launching a brand new product within an existing business market, it can be said that a company could easily expand its business at international level(Christopher and Peck, 2012). In the same way. Jaguar Land Rover has decided to launch a whole new product (car), named as JLR XZ which is an electronic car and consist with a range of features like high security, intelligence and many more other unique features like it can turn park itself in slopes or at curvy roads as well. Along with this, just with a push button, car can itself pull out all the luggage out of it (Artificial Intelligence). JLR XZ also has voice recognition which helps in starting the engine without pushing any keys. Away with this, in order to design and execute all the features within JLR XZ, Jaguar Land Rover (JLR) adopted Product Development Toolkit Model which helps in reaching to the details. This consist of a range of factors and these are, Quality Function Deploymentwhich could be considered as one of a crucial andpowerful tool that can be utilised for planning all the features within Jaguar Land Rover (JLR)'s XZ. Away with this, unauthorised individual with bad intention if somehow open up the car, it will directly notify the owner through giving proper ringing alert in owner's phone. Another factor i.e.Target Costingcouldbe utilised isa strategy developed by companies keeping in consideration the market situations and then deciding upon the price of product such that desired sales volume can 1
be achieved. Jaguar Land Rover decides a fixed price (non-negotiable) for the car. The target audience of company while launching this car is mainly middle and elite class individuals who will be able to afford the car easily. Cost of the car is decided by JLR after taking into account all the factors like security, features and quality. Furthermore, JLR prepares a cost sheet while designing and developing the car and includes finance utilised in relation to material cost, manufacturing cost, overheads, fixed cost and scrap(Clegg and et. al, 2013). Away with this,Design for Manufacturability/Assemblyisanotherprinciple which can be considered as a factor which consist of an effectivedesign and an assembly as well. This basically aid a business organisation like JLR in improving its manufacturing unit. Through this type of factor, it can easily be said that JLR could reduce the cost as well of manufacturing unit from cost of fabrication and assembly and so on. New product named as JLR XZ, consist with a range of sensors which helps in building an effective image in front of society. Away with this, all the parts of car like JLR XZ are going to be assembled at a fixed place and that will aid JLR in decreasing all the costs that are linked with transportation and this helps in taking right decisions in specified time frame. Away with this, JLR's XZ has improvised its image and this is regularly helping the company in expanding business at international level. On the other hand, there are a range of factors like political, environmental, social challenges and legal are some of continuous threats which could bring revolution within the automotive industry. Including this, developing a whole new way of design and development of cars, XZ could effectively gain its reputation in specified time frame. Failure Modes and Effect Analysis (FMEA)can be considered as one of a crucial tool which can be used to pull out all the issues based on probability and it can also be used to improvisereliability of product development cycle. This will aid JLR in taking effective decisions regarding all the actions which can be taken to combat them. It can be said that, Jaguar Land Rover basically uses a range of effective Artificial intelligence based tool. With the help of this, it can easily be said that XZ which is a brand new car will directly grab a good position in specified time frame within United Kingdom's business market(Earley, 2015). Away with this, company is bringing reflection of Artificial Intelligence and high-tech practices so as to provide the security feature and removing all the luggage from the car. Also, using this analysis, company can ascertain failure modes and then ascertain such actions that can reduce chances of failure while introducing the product in marketplace. 2
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Including this,Control Planconsist with a rangeof actions which are specifically important steps that are needed to be taken so that company's goals could easily be attained in specified time frame. Control is one of a crucial thing which impacts upon overall performance level of a company's products which means, XZ would directly raise reputation through removing all the risks that are present in today's business environment. Along with this, if plan is developed in much more specified and with concentration, it can easily be said that, it will reduce or remove all the uncertainties in specific time. Jaguar Land Rover develops control plan to present in a written form and communicating the plan for developing JLR's XZ. Through this, it can easily be said that Jaguar Land Rover will grab a good position in specified time frame. Another essential element which is linked to supply chain management named asLogistic mix as this consist with a range ofcomponents which might impact upon there performance level in a positive manner. It has been analysed, inventory management, production planning, forecasting demand, storage, transportation, distribution, material handling, packaging, just after sales activities and customer services are some of crucial factors which helps in building favourable outcomes in specified time frame(Ganescu, 2012). While carrying out the production and supply chain management, Jaguar Land Rover faces a number of issues. These are overstocked inventories, cost and location issues along with environmental and ethical concerns. In case ofoverstocked inventory, the issue is that company, at times, keeps stock more than needed which gives rise to the this problem. It is required by JLR to keep its inventory well stocked and not overstocked. With fluctuations in demand for customers, firm will produce cars accordingly and aim at maintaining and enhancing the quality. In case ofcost and locationissues, firms need to ascertain that cost for the car that is affordable by majority of people yet maintains the quality quotient of the parts of car. Normally, the cars manufactured and distributed by company has a high cost associated to it. Also, to overcome the location issues, company can consider various alternatives like relocation, maintaining large customer base, etc. Vehicle parts from a range of suppliers like who assure about the delivery of high quality components. Also, Jaguar Land Rover uses Direct Distributors as a medium of distribution. These dealers directly come in contact with customers so as to communicate the features and components of car in an effective manner such that more people can be influenced to purchase the new car launched by enterprise. Along with this, Jaguar Land Rover is going to use a 3
transportation system which consist of all the mediums and these are sea ports, road and air as well which company will directly improve supply chain management. Through this, JLR will directly distribute its product XZ at different geographic areas to targeted customers. On the other hand, improvisation related to high-tech features like voice recognition, pulling out all the luggage, intelligence and high security will help in grabbing a good position at marketplace for a longer period of time(Jacobs, Chase and Lummus, 2014). It can also be said that inventory or stock could easily be managed if Jaguar Land Rover, will directly grab a good range of techniques, like Lean production and Just in Time which might aid in pulling out favourable outcomes in specified time. If it is analysed with an in-depth approach, than it can be said that JLR could easily reduce all the costs using Just in Time concept. If it is talked about, Jaguar Land Rover basically keep its focus on value added services in order to improvise overall production level and here JLR can also improve through focusing upon a range of elements like holding back of stock, faulty components and etc. All of the above specified issues are faced by jaguar Land Rover at the time of managing withsupplychainmanagement,operationsandlogistics.Therefore,itisessentialfor management team of Jaguar Land Rover to consider all of the stated issues before launching XZ. Moreover, it can be said that if management team of Jaguar Land Rover takes effective measures during their product launch then it will easier for them to take preventive measure so that any mismanagement does not occurs at the launch of new car. Along with this, it will also handle supply chain management and production of new car effectively without indulging into measure issue(Kumar, 2017). As per evaluation, it can be said top management team of Jaguar Land Rover are required to go for TQM (Total Quality Management) approach that helps business organisation to ensure that quality will going to be considered at each and every stage of operations, production and supply chain activity. Further, it can be said that management team of Jaguar Land Roveris also required to consider ethical and environmental related concerns during their manufacturing and selling activities of XZ. Inclusion of these activities are waste reduction, sustainable development, footprints, recycling of waste, chemical toxic and other related substances during production of XZ. In addition to this, it can be said that it is essential for companies to adopt different methodologies and technologies so that technological changes can be attained in order to take competitive advantage within the industry. On the basis of this, it can be said that HR manager of Jaguar Land Rover emphasis on hiring skilled employees who 4
owns capability of working effectively. It can be said that these hired skilled employees are more professional, talented, competent etc(Mangan, Lalwani and Lalwani, 2016). All of these skills helps company in attaining its targeted goals and objectives through which company can gain advantage. If in case company evaluates or analyses actual demand of product at market place then it would be easier for them to identify actual requirements of raw material so that targeted products could be manufactured. In addition to this, this evaluation also helps company in identifying work in progress inventory, which ultimately guides them existing stock is sufficient for them and will not create situation of deficit in company. It also ensures that none of resources will going to be wasted in company and used in effective manner. On the other hand, it is required by management team of Jaguar Land Rover to focus development of new car by considering techniques and tools like diesel emissions, wastage, pollutions in order to make sure that updated technology and innovative ideas will going to be used by companies. At further, Jaguar Land Rover is also required to focus on following each and every norms, laws, values and regulations that are set by governmental bodies. On the other hand, it has been further seen that management team of Jaguar Land Rover could also adopt another strategic tool named as Six Sigma in order to develop new product development process. At next, service delivery system refers to the configuration of companies network designing as well as technology in order to provide high level of satisfaction to customers so that their re1quirements can be met effectively. On the basis of overall discussion it can be said that all of the provided measures can be used by management team of Jaguar Land Rover for handling vast variety of issues that are being faced by them at time of creating new product development process, supply chain and logistics (Rebolledo-Mendez and et. al, 2014). In order to develop a much more stronger and longer existence, it will be required for Jaguar Land Rover, to focus on all the theories and approaches that are linked with supply chain management, logistics and other departments as well. With the help of this, Jaguar Land Rover may easily sell its products like XZ at different targeted geographical areas. It is also required for a business organisation like JLR to keep on looking into all the areas like social which basically stays enclosed with traditions, attitude, lifestyle of consumers, norms, behaviour and values. Along with this, it is necessary for a business organisation like Jaguar Land Rover to analyse all the uncertainties at the time of business expansion considering its products like XZ. Here, it can be said that economical factor is one of crucial one where inflation, interest rates and other rates. 5
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It is being analysed that, Brexit has been one of a crucial element which affected the most among business organisations like Jaguar Land Rover in both the manner (positive and in negative sense). New car i.e. XZ and its team would require to take decisions and it will also be required for them to keep on looking into all the different areas through which maximum benefits can easily be gained in specified time frame. Away with this, environment could be considered as one of a crucial factor which impact upon overall performance level of a business organisation. With the help of above mentioned report, it is being summarised that logistics along with the new product development are specifically two basic issues which impacts upon overall performance level of a company. On the other hand, entity that need to be timely combated so as to ensure the sustainability of business in the long run. Also, it has been analysed that adopting tools and techniques like Total Quality Management (TQM), Just in time, Lean production, Six Sigma, and other measures, a company can easily bring innovation and they may also maintain overall quality of products as well. Away with this, importance of environmental, economic and social factors are some of crucial elements which requires proper analysis before pulling out favourable outcomes in specified time frame(Ziebart and Rover, 2014). Then only a business organisation might grab a good position in specified time frame. 6
REFERENCES Books and Journals Banks, V. A. and Stanton, N. A., 2016. Keep the driver in control: Automating automobiles of the future.Applied ergonomics.53. pp.389-395. Christopher, M. and Peck, H., 2012.Marketing logistics. Routledge. Clegg, B. and et. al., 2013. Governing inter-organisational R&D supplier collaborations: a study at Jaguar Land Rover.Production Planning & Control.24(8-9). pp.818-836. Earley, S., 2015. Analytics, machine learning, and the internet of things.IT Professional.17(1). pp.10-13. Ganescu, M. C., 2012. Corporate social responsibility, a strategy to create and consolidate sustainable businesses.Theoretical & Applied Economics.19(11). Jacobs,F.R.,Chase,R.B.andLummus,R.R.,2014.Operationsandsupplychain management(pp. 533-535). New York, NY: McGraw-Hill/Irwin. Kumar, N., 2017. Milestones in Business Ethics.Journal of Industrial Relationship, Corporate Governance & Management Explorer (e ISSN 2456-9461).1(1). pp.26-32. Mangan,J.,Lalwani,C.andLalwani,C.L.,2016.Globallogisticsandsupplychain management. John Wiley & Sons. Rebolledo-Mendez, G. and et. al., 2014. Developing a body sensor network to detect emotions during driving.IEEE transactions on intelligent transportation systems.15(4). pp.1850- 1854. Ziebart, W. and Rover, J. L., 2014. The customer expects the latest technology-challenges for a premium car manufacturer. InConference on Future Automotive Technology Focus Elektromobilltät, Veranstaltungsforum Furstenfeld. 7