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Operations Management in Business: A Case Study of Toyota Company
Added on -2019-09-23
This case study analyzes the importance of operation management in Toyota Company. It covers key functions of operation management, analysis of operational functions, evaluation of operation management, and more.
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TOYOTA COMPANYOperations Management in Business
Table of ContentsLO1..................................................................................................................................................41.1 Importance of Toyota business..............................................................................................4Operation management.............................................................................................................4Key function of Operation management..................................................................................4Importance of operation management......................................................................................4Operation management in Toyota............................................................................................41.2Analysis of operational functions...........................................................................................5Functions of Operation management.......................................................................................51.Planning............................................................................................................................52.Designing..........................................................................................................................53.Managing..........................................................................................................................54.Coordination......................................................................................................................5Application of function towards Toyota..................................................................................51.3 Operation management evaluation.........................................................................................6Process model in operation management.....................................................................................6Application of model towards Toyota.........................................................................................7LO2..................................................................................................................................................72.1 Significant of economy efficiency evolution.........................................................................73E’s & its importance...............................................................................................................72.2 Impact of cost & quality maximization with Toyota experience...........................................8Cost minimization....................................................................................................................8Quality maximization...............................................................................................................8PESTLE analysis......................................................................................................................8Target consumer & Production cost.........................................................................................92.3 Evaluation of operation management....................................................................................9Operation management performance objective........................................................................9M1..............................................................................................................................................10Effective judgment & approach.............................................................................................10Relationship with strategic planning......................................................................................10
D1...............................................................................................................................................10LO3................................................................................................................................................113.1 Increment of linear programming........................................................................................11Linear programming...............................................................................................................11Add value by linear programming..........................................................................................11Example..................................................................................................................................113.2 Evaluation............................................................................................................................11Critical path analysis..............................................................................................................11Network planning...................................................................................................................11Theories to improve production line......................................................................................123.3 Justification..........................................................................................................................12Importance of operational planning in production process....................................................12Capacity planning...................................................................................................................12Inventory planning.................................................................................................................12Project management...............................................................................................................12Quality assurance...................................................................................................................12Efficient production................................................................................................................12M2..............................................................................................................................................13Theory to design product process...........................................................................................13Technique for operational plan...............................................................................................13D2...............................................................................................................................................13References......................................................................................................................................14
LO11.1 Importance of Toyota businessOperation managementOperation management is defined as the area of management in which the designing andcontrolling of a production process, and it also includes the business operation redesigning in theproduction of goods and services. It is concerned with the management of resources in order tomeet the requirement of consumers (Mohammadi et al., 2014). Key function of Operation managementIt is a multidisciplinary field in which the operations of the company are managed in an efficientand effective manner. The activities of the company are segmented into functional categories.The production process includes various functions such as marketing function, accountingfunction, administrative function and others. The key functions include designing,implementation, planning, and forecasting, managing the system, and developing of success withoperations.Importance of operation management The operation management is used to manage the production of tangible goods in order to boostthe sales volume of the company. The technologies are applied by the operational manager forthe efficient production process which helps to reduce the cost of goods and services. It alsohelps to improve the flexibility in order to meet the consumer needs, ensuring a high-qualityproduct, and assure safe working environment for the employees. It is very important for themanufacturing industry because it involves converting of input into output with the requisitelevel of quality. Operation management in ToyotaThe Toyota is using Kaizen technology which is a cross-sectional strategy for the improvement,management and continues business activities with the quality, productivity and competitivenessparameters with the direct involvement of management team (TOYOTA MOTORCORPORATION GLOBAL WEBSITE et al., 2016). The company is using product strategy inorder to
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