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Operations Management in Business - IKEA

   

Added on  2020-06-04

18 Pages5125 Words223 Views
OPERATION MNG IN BUSINESS

Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1 ..........................................................................................................................................11.1Operations management is important for IKEA’s business success......................................11.2 The operation analysis of IKEA............................................................................................21.3 Process model of operation management of IKEA ..............................................................3TASK 2 ...........................................................................................................................................52.1 Importance of three Es within IKESA..................................................................................52.2 Cost minimisation and quality maximisation inorganisations..............................................................................................................................62.3 Significance of performance objectives...............................................................................6TASK 3............................................................................................................................................73.1 Linear programming give value to production process ........................................................73.2 Critical path analysis and network planning.........................................................................73.3 Need for operational planning and control ...........................................................................8TASK 4............................................................................................................................................94.1 A defined operational outcome for IKEA.............................................................................94.2 A network plan and indicate the resultant critical path.........................................................94.3 Management techniques are applied to improve operations in IKEA ...............................11CONCLUSION..............................................................................................................................12REFRENCES ..............................................................................................................................13.......................................................................................................................................................14.......................................................................................................................................................14

INTRODUCTION Operation management is a process of designing, executing and controlling of businessoperations as well as productions. The major purpose of operation management is to keep an eyeon business practices to make highest level of profit and growth which is possible for anorganisation. Its basic objective is to collect raw material and human resource for convertinglabour and material into finished goods and services (Baziar and Kavousi-Fard, 2013).Operation management is widely used by every business organisation in order to manage theiroperation and production function in effective manner. The major work of operationmanagement department is to balance and control cost or revenue to attain possible high level ofnet operating profit. IKEA is big furniture organisation, which is founded by Ingvar Kamprad in1943. its focuses towards providing best and quality services to their customers for better everyday life. They offers variety of well designed furnishing goods at very minimum and affordableprice. TASK 1 1.1Operations management is important for IKEA’s business success.The every business organisation including small, medium and big firms are widely usedoperation management for controlling and managing their business operations. It is afundamental part of any firm. People have a common belief that operation management isimportant only in production industry. This norm has concern with the fact that productionindustry had to considered more than one processes and operations. Operation management isrefers to the process of collection of raw material and convert them into final goods and serviceswith the use of production function. Operation is starts from obtaining material for goods andservices and sold them at right place with right and reasonable price. Along with it is consideredthat operation management is important for manufacturing industry. IKEA is a service industrywhich is focuses rendering quality services to their buyers. In service industry various elementsare involve that are starting from identifying the needs and wants of customers. After renderingservices they get feedback form customers and work on some points which are needed to bechanged for better growth and success. The service industry tells identified changes tomanufacturing industry (Brandimarte and Villa, 2013). Marketing team of IKEA play a vitalrole in understanding needs and wants of customers. The team of marketing put their all affords1

for collecting more and relevant information from customers and apply those data as an input ofdesigning goods and services for buyers. IKEA is a well established company which sells readyto finished furnitures home decorum accessories and appliances. Operation management is play asignificant role in manufacturing and production process of firm. IKEA is most popular andbiggest furniture business across the globe. 1.2 The operation analysis of IKEA(Source: Operation management, 2017)IKEA is a well established furniture company which render high quality furnished goodsand services to their potential customers. The company is mainly focuses to design a store which2Illustration 1: Operation management

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