Operation Management Contents

Operational and Project Management

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Operation management is a process of managing overall activities which comes under production
process and redesign on a continuous basis with the aim of attaining highest efficiency and high
utilisation of available resources (Xu, 2018). Primary objective of operation management is to
conduct business operations which will be align with company’s vision and mission in the
market. On the other hand, project management refers to a set of principles, procedures and
activities which company must run their operation process. For this report, Walmart Inc is taken
for consideration which is one of the largest retail market chain in United states of America as
well as in the world. Company was founded in 1962 and have been managing more than 2.2
million people worldwide with the revenue of 524 billion dollars approximately. Different issues
which are faced by company in terms of operations will be discussed and how it could be
eliminated in the first place.
MAIN BODY
Main objective of operation department is to improve company’s productivity and
efficiency by reducing overall operational cost so that profit margin would be improved without
compromising with the quality of goods. But due to ever changing external and internal
environment, it becomes complex for companies to conduct their operations with the same
strategies. Different issues which are faced by Walmart and how they cope up with that is
explained below with functional example,
Globalisation: Globalisation refers to a process of conducting business in foreign companies
with the aim of getting higher profitability and market share in the competitive market. This
concept assist companies to increase their productivity worldwide but it also affects their
business negatively (Farr & Bailey, 2019). For instance, Walmart started their business from
America with the small store but due to increase in needs and demands of customers, company
start expanding their operations in various areas. After satisfying local demands, company starts
selling their product in different countries which considers as globalisation. Entering into other
market helps company to capture more market share which automatically increases company’s
profitability and productivity. Like nearly each week, Walmart caters products and services to
265 million customers from their 11,500 stores due to which company has been able to attain
higher profit as compare to different companies (Zerjav, Edkins & Davies, 2018). But on the