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Research Project Starbucks Assignment

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Operations Management

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Introduction

Operational planning is the management of different strategies and goals that when combined within stipulated time bound period and expected budget can ensure long-term success in the organisation. These planning are important so that the company can figure out the amount of annual profit or loss, which is an indicator of the company's economic growth. The organisations usually formulate a five-year operation plan or process map about their pricing and marketing strategies with an aim to achieve maximum profit into their planned budget. In the present assignment, an operation plan for the Wesfarmers retailing group of Australia would be discussed to make a critical evaluation of the effectiveness of the different planning strategies

 

2 Identification of the critical components of operations management function of Wesfarmers to understand their relationship for decision making and value chain

2.1 Factors affecting the decision making and long-lasting stability in the operational plan of the company

The critical components in the business influencing the decision making and evaluation of value chain can be explained by the analysis of different influencing factors (healthknowledge.org.uk, 2018).

Political factors: The political factors can influence the marketing and promotion of the green solar products of the company. The operation plan of the company has focused to replace the utilization of the traditional electronics goods with the green solar products. The negotiation of the government by using green products for street lights can help to enhance the sale of green products even by the households. This negotiation can help to bring new investments to the company. 

Social factors and environmental factors: The concept of the business is covering a social issue of reducing the pollution and related health hazards by using green products. Moreover, this idea can help to save the future of this society by minimizing the use of green products instead of non-renewable products. This can be an important promotional strategy to influence the society in such a way so that the company can get their economic growth by inspiring the customers. Customer attraction and extra influence by them due to safeguarding the social obligation can help in deciding the number of the products that could be produced or sold during the year. In the case of international marketing, the company may face an external competitive environment, which could be overcome with the help of collaboration with the international organizations working for reducing pollution.

Financial factors: The new product has to be more cost-effective than the existing products to attract the customers. The positive balance in product cost in the context of service and maintenance cost can make the consumers attracted towards the buying of that product. This can be a positive asset for the company to enhance the business of green products.

2.2 Value chain analysis

 

In order to get a competitive advantage with the help of value chain analysis, the primary and secondary activities have to be implemented in such a manner so that it can get an advantage in the business. The selection of the products and involvement of the target investors might be strength of the company to beat the competitors in the market (Donovan et al. 2015). The pricing strategy regarding the marketing of green products and the amount of power can be saved with the help of this replacement can help the company to achieve the superior position in the competitive market.  

3.1 Evaluating principles which assists decision making in operations planning, scheduling and inventory management

The main principle, which affects the decision making under operations planning, scheduling and inventory management can be summed up under the following heads.

1)      Fundamentals:  The maintenance of disciplines and records with strict adherence results in gaining an 80% of the success of the decisions. The scheduling gets appropriate and the inventories management related to costs becomes easy due to the history of records maintained.

2)      Variance: The principle of variance results out to be a source of creativity (Harrison et al. 2017). The variability in maintaining the inventories and the process of scheduling becomes flexible which helps the other managing activities such as strategy management works smoothly.

3)      Management Passion: This principle helps the manager to bring the best out of the employees. The scheduling and inventory management becomes effective when this principle is adopted in the operation plan. The decision regarding the productivity becomes accurate.

4)      Maintain Equipment: The appropriate equipment availability would increase the efficiency of the decision making which would increase the productivity of the organisation (Fredendall et al. 2016). The inventory would be managed in the proper way as the availability of new technologies would improve the ability of the workers and the scheduling would be accurate if followed this principle.

3.2 Application of principles which assists decision making in operations planning, scheduling and inventory management

The principles of operation plans help in attending the accuracy of the plan and the principles mentioned above is advisable to be followed in the operational plan of the Green Solar Product map. The fundamentals and the variance principle when applied helps in enhancing creativity and the success percentage due to a reduction in cost (Annarelli et al. 2016). The other two principles would add on to the effectiveness of the product, which would be in favour of the Company, as the developed technologies saves time and make workers more efficient.

3.3 Articulating the principles, which assist decision-making in operations process planning, scheduling and inventory management

The application of the four principles mentioned above in the Green Solar Energy product would result in about 80% of the operational success of the product. As the principle of fundamentals would be maintaining the regulations and the principle of variance would add to the effectiveness to inventory planning, scheduling and operational planning (Geisler et al. 2015). The other two principles would add to the effectiveness of the product and this may increase the popularity of the product among the customers too. The reduced cost and increased productivity would be the two results of following the above principles.

3.4 Evaluating Quantitative Methodologies which assists decision making in operations planning, scheduling and inventory management

The quantitative methods, which help in scheduling, are the production level method, under which the productions are managed as per the schedules of the organisation. The next method for managing the inventories is the Demand Chase method helps in managing the flow of the inventories as per the demand. The last one is the Mixed Method, which includes both the production and demand methods that influences the decisions to be taken under operational planning (Wheelen et al. 2017).

3.5 Application of Quantitative Methodologies which assists decision making in operations planning, scheduling and inventory management

In the present case of the Green Solar Product, the mixed Quantitative Methodology would be applicable. As it includes both the aspects of the Company, it would provide a proper and exact number, which would increase the efficiency of the decision made (Brandenburgn et al. 2014). The mixed method provides the details of the production levels and the demand prevailing in the market. This therefore, influences the scheduling of the productions and the management of inventories.

3.6 Articulating the Quantitative Methodologies to assist decision-making in   operations process planning, scheduling and inventory management

 

The application of the mixed methodology would provide accurate and justified results. This justified result would help the company to accelerate the other functions, which would help the company to grow gradually. The correct choice of quantitative methodology would help the company to reach their targets on or before time and hence enhancing the productivity of each employee.

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