Operational Management: Approaches to Achieve Business Objectives

This report delves into the main approaches to operational management, focusing on Six Sigma and Lean Manufacturing, and examines their significance and value in attaining business objectives. It highlights how Six Sigma assists companies in increasing the quality of goods and services, leading to maximum user satisfaction and long-term benefits. The report also discusses how Lean Manufacturing helps managers eliminate waste in the production process. For organizations like Aldi, these approaches are crucial for providing maximum customer satisfaction, competing with rivals, and decreasing unwanted costs. The effective use of Six Sigma can lead to high revenues and financial stability, enabling the launch of new products and providing a competitive edge. Furthermore, the adoption of these approaches enhances staff productivity and helps firms achieve their desired market position, ultimately leading to greater financial stability and customer satisfaction.

Task 3
Management and
Operations

Covered Content
• Introduction
• Main approaches to operational management
• Significance and value of operation management in attain
ing business objectives
• References

Introduction
An association has to achieve their targets and goals
within specific period of time and for this, it is requir
ed for them to manage their entire assets in an effecti
ve manner. If manager concentrate on their operation
al activities then, they can easily maximize their profi
ts.

Main approaches to operational management
There are many approches which can be utilized an
organisation, this is stated as baneath:
 Six Sigma
 Lean manufacturing

Cont...
Six Sigma: This idea assist compa
ny to increase quality of goods an
d services effectively. It needs too
much information and in addition
estimation framework; thus, it can
cater long term benefits to Aldi. A
part from this, it will assist to cate
r maximum satisfaction to users
which is much significant in toda
y's time.

Cont...
Lean Manufacturing: The fund
amental issue which is connecte
d with operational administratio
n is wastage in their production
procedure. With assistance of thi
s method, manager of company
can easily remove distinctive so
rt of wastage which are present i
nto their manufacturing process.

Significance and value of operations manage
ment in attaining business objectives
 For an association such as Aldi, has to provide ma
ximum satisfaction to their clients in an effective
way; so that, they can compete their rivals at comp
etitive world.
 It is fundamental for them to decrease unwanted c
ost as well as wastage from their production proce
ss; hence, they will provide goods and services to t
heir users at affordable prices.

Cont...
 As they are using method of six sigma into their bus
iness; thus, this will help to gain high revenues in th
e year of 2014.
 If they are having proper fund then they will becom
e financially stable. Therefore, they can easily launc
h new goods for their buyers.
 This will provide more satisfaction to them and firm
will able to take benefits from their competitors at c
ompetitive world.

Cont...
 At prior time, it was not easy for manager to adopt six
sigma approach into their business but after some time
s this aids staff members to enhance their productivity.
 It is most significant benefit of utilizing this method in
firm.

Cont...
 Aldi wants to hold an adequate position at market; thus,
by utilizing six sigma they are able to achieve their desi
red targets within a specific period of time.
 Many of firms are not aware from this tool but manager
of mentioned firm use it and this will help them to prov
ide maximum satisfaction to their buyers and in additio
n they are become more financial stable.

References
Peng, C. and et. al., 2015. Uncertainty management i
n power system operation. CSEE Journal of Po
wer and Energy Systems. 1(1). pp.28-35.
Talari, S., Yazdaninejad, M. and Haghifam, M. R., 2
015. Stochastic-based scheduling of the microgri
d operation including wind turbines, photovoltai
c cells, energy storages and responsive loads. IE
T Generation, Transmission & Distribution. 9(1
2). pp.1498-1509.

Thank You!!