Operations management principles and practices

Corporate Operations Management

Corporate strategy provides long-range guidance for the whole organization. It is often expressed as a statement of its mission that defines key stakeholders and describes the overall strategy to meet objectives. Business strategy is concerned with products and services offered in the market defined at the corporate level. It defines the competitive advantage of the products and services. Functional strategy, termed operational, is where business functions make long-range plans that support the competitive advantage and incorporate corporate goals (Greasley).

The performance objectives allow the organization to measure performance in achieving strategic goals. Quality is measured by the cost of quality, speed measures time delay between customer request and receipt of product, dependability measures the consistency of promised delivery, flexibility measures ability to quickly change what it does, and cost measures profits and competitor deterrence.

3. 4. Product or service needs to flexibility to quickly meet changing customer demands. Mix needs flexibility to change continually to meet demands of a wide range of customer needs. Volume needs flexibility in meeting demand changes, such as seasonal. Delivery needs flexibility to change delivery priorities between orders.

4. 7. Advantages of focused manufacturing is cutting inventory to free cash for other areas, such as flexibility in products, cut waste in operations, and keeping work methods simple, as well as reducing system complexity. The disadvantages include supplier problems that can delay needed materials, difficulty in flexibility in meeting changing customer demands, and imbalance between areas because of bottlenecks in the processes (Moore, 2014).