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Operations & Project Management Assignment - XYZ company

   

Added on  2020-11-12

17 Pages3907 Words376 Views
Operations and projectmanagement

Table of Contents1INTRODUCTION.........................................................................................................................1TASK 1............................................................................................................................................1LO1 Implementation of the operation management principles and the importance of sixsigma and lean principle.........................................................................................................12TASK 2 .........................................................................................................................................2LO2 Defining continuous improvement and its plan based on the review ..........................2TASK 3............................................................................................................................................4L03 making of the project life cycle for development of the product with all the documentswhich are required in every stage...........................................................................................4A Business case....................................................................................................................4B project plan .......................................................................................................................5C work break down structure ...............................................................................................7D Gantt chart ........................................................................................................................8E theoretical and the conceptual idea for the use of the methodologies.............................11TASK 4..........................................................................................................................................11A effectiveness of project life cycle ...................................................................................11B importance of the designing of the implementation of the PLC......................................12C. Cost saving techniques....................................................................................................12D Quality assurance techniques ..........................................................................................12E theories and models .........................................................................................................13F review of PLC in the context of theoretical frameworks................................................133REFERENCES ...........................................................................................................................14

1INTRODUCTIONOperation management refers to daily activities of business properly. Projectmanagement includes the management principles which are made to achieve the goals of theenterprise. This report will study operation management principles in context of the XYZcompany which are dealing in manufacturing of electronic items. It will also discuss theimportance of six-sigma and lean principles. It will study continuous improvement and makingbetterment plan. It will discuss different strategies which are developed for the implementationof plan. Furthermore, it will also tell about the making of the project life cycle for developingnew product. It will also discuss importance of the project life cycle plan by applying conceptsand models. TASK 1LO1 Implementation of the operation management principles and the importance of six sigmaand lean principleOperation management principles which is to be followed in the business. Theseprinciples are:Principles of inventory management- this refers to controlling of the stock or material.This principle tells about understanding of duties to look after stock and its effect onbusiness. These are applied because resources are limited and must be used in an efficientway.Principle of operational planning – planning is necessary before every course of action.In this before manufacturing planning is must. This is the basic knowledge which is usedin the process. Under this strategic planning with techniques are used to make workeasier(Cserhati and Szabo, 2014.). Principles of manufacturing management – Here all modern techniques ofmanufacturing are used. Topics which are covered under this is as follows:manufacturing environment, process layout, bills of material and routing, executivemanufacturing planning and control activities, working with the material requirementplanning.

Principles of distribution and logistics – under this, various topics are discussed suchas logistics management, activities and principles of warehousing, transportationactivities, fulfilment, distribution channel design and many more. Principles of managing operation – this principle provides basic knowledge, toolsneeded for daily operations. It focus on the designing systems which are able to producegoods and services. Advantages of Operation Management - there are many benefits and some of them are:profitability management - this refers to the starting of the new business with new ideas andimplement in organisation. The new product founds interesting to the client and after that ifconsumer like the product then sales will increase(Zareei, 2018.). Manager always focus on theimprovement in existing product which is presentable in market. Competitive Advantages - itrefers to the moving ahead from the contenders. It may be in technological advancement, price,strategy and many more. Importance of Six Sigma and Lean Principle- Lean principle refers to one of the methods for reducing waste in an organisation. This is used tominimise wastage of resources which is limited in company as well as in nature. It willemphasise on the waste without compromising on quality. Through waste, unnecessary there isthe increase in the workload and it will create the tension in working environment. Only byvalue of product client will consume it. XYZ company is using this method because resourcesare scarce in the environment and if these are finished then there is no new resources in thenature. Six Sigma is principle which encourages employee to do minimum mistakes withinregular improvement in product. It is necessary for company to make changes in process ofmanufacturing. XYZ is also following principles and make worth in the eyes of world.2TASK 2 LO2 Defining continuous improvement and its plan based on the review Continuous improvement process refers regular improvement is done in the product orthe services. Resultant is the increase in the efficiency of working(Yap and et.al. 2018.). Thismakes the work best in the organisation because there is something new in the existing product2

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