Operations Management and Decision Making: Woolworths Limited
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This presentation provides an overview of Woolworths Limited, including its history, operations strategy, decision-making processes, product and service design, value chain, planning and control, quality management, and action plan. It also includes references for further reading.
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ο Operation management and Decision making: Woolworths limited Scholar id:
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ο οWoolworths limited was founded in the year of 1909. οIt operates in 995 stores in across the countries. οIt has employed 201,000 team members οBusiness strategy of company is to deliver the best in convenience, quality and value for customers. Description of the organization
ο οWoolworths uses transparent and obvious operation strategy οOperation strategy is changed due to modernization οExisting strategy of Woolworths is not more efficient hence company should emphasize on total quality management (TQM) system Operations Strategy
ο οWoolworths emphasize on speed of delivery of product οInnovation is encouraged throughout launching the new production as per the need of customers οWoolworths consider the corporate social responsibility into decision-making such as providing fresh and quality foods Decision-making processes and innovation
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ο οDifferent products and services of Woolworths are clothing, foods, and entertainment, and books as well as, home delivery services. οResearch and development function of Woolworths is properly resourced Product and Service Design
ο οManufacturing and retail facility is being used adequately to support the business procedures. οIn marketing field, company needs to make enhancement. οCompany should use modern marketing in business procedure to make improvement. Process Design
ο Value Chain (Supply Chain)
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ο οWoolworths forecasted the demand on the basis of survey and previous facts and figures related to products and services. οThere is linkage between decision making procedure and short and long-term planning. Planning and Control
ο οShort-term planning helps in decision-making in terms of making planning regarding dealing with type of tasks. οLong-term planning helps in attaining the goals of company like increasing demand and sales of Woolworths. Contβd
ο οWoolworths uses six sigma quality tools in their organization in order to manage the quality. οThere is required to make improvement in quality system. οIt should use total quality management (TQM) system for improving the production process. Quality Management
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ο Action plan Action to be takenTimeline Identification ofneeds through conducting market research 3months Developing product as per the requirement of market 2months Creatingcompeting priceby competitor analysis 1 months Using digital technology to promote the products and services 2months Considering effective quality management tool in operation process such as TQM and inventory controlmanagementsystem 5months Review the plan3months Implementation2months
οοBali, S. and Amin, S.S., 2017. An analytical framework for supplier evaluation and selection: a multi-criteria decision making approach.International Journal of Advanced Operations Management,9(1), pp.57-72. οGovindan, K., Rajendran, S., Sarkis, J. and Murugesan, P., 2015. Multi criteria decision making approaches for green supplier evaluation and selection: a literature review.Journal of Cleaner Production,98, pp.66-83. οIngram, T.N., LaForge, R.W., Williams, M.R. and Schwepker Jr, C.H., 2015.Sales management: Analysis and decision making. Routledge. οMontabon, F., Pagell, M. and Wu, Z., 2016. Making sustainability sustainable.Journal of Supply Chain Management,52(2), pp.11-27. οPoff, N.L., Brown, C.M., Grantham, T.E., Matthews, J.H., Palmer, M.A., Spence, C.M., Wilby, R.L., Haasnoot, M., Mendoza, G.F., Dominique, K.C. and Baeza, A., 2016. Sustainable water management under future uncertainty with eco-engineering decision scaling.Nature Climate Change,6(1), p.25. οWoolworths. 2018.About us.[Online]. Available at: https://www.woolworthsgroup.com.au/page/about-us/our-approach/strategy-and-o bjectives (Accessed: 6 May 2019). References