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OPERATIONS MANAGEMENT

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OPERATIONS MANAGEMENT

 OPERATIONS MANAGEMENT

 

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.  

1.0 Operation plan and process map of Wesfarmers group for marketing a new product

The marketing of green solar energy products is the focused area of Wesfarmers to promote the utilization of solar energy instead of non-renewable sources to enhance their sustainability in the future. The main aim of the company is to attract the customers by promoting the eco-friendly products for earning extra profit. This can help to enhance their annual profit from the selling of different solar energy products (Fuentes, 2014). The use of ampoules per unit is lesser than traditional electrical goods (Ottman, 2017). The accurate planning of solar projects can reduce the electricity cost thereby can help the company in earning more profit as before.

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.  

 

References

Annarelli, A., & Nonino, F. (2016). Strategic and operational management of organizational resilience: Current state of research and future directions. Omega, 62, 1-18 Retrieved on: 6th March 2018 From:

            https://www.sciencedirect.com/science/article/pii/S0305048315001590

Brandenburg, M., Govindan, K., Sarkis, J., & Seuring, S. (2014). Quantitative models for sustainable supply chain management: Developments and directions. European Journal of Operational Research, 233(2), 299-312. Retrieved on: 6th March 2018 From :https://www.sciencedirect.com/science/article/abs/pii/S037722171300787X

Donovan, J., Franzel, S., Cunha, M., Gyau, A., & Mithöfer, D. (2015). Guides for value chain development: a comparative review. Journal of Agribusiness in Developing and Emerging Economies5(1), 2-23. Retrieved on: 6th March 2018 From https://www.emeraldinsight.com/doi/pdfplus/10.1108/JADEE-07-2013-0025

Fredendall, L. D., & Hill, E. (2016). Basics of supply chain management. Boca Raton: CRC Press. Retrieved on: 6th March 2018 From:

        https://www.taylorfrancis.com/books/e/9781420025767

Fuentes, C. (2014). Green materialities: Marketing and the sociomaterial construction of green products. Business Strategy and the Environment23(2), 105-116. Retrieved on: 6th March 2018 from :                                                                           https://lucris.lub.lu.se/ws/files/1267643/5153124.pdf

Geisler, E., & Wickramasinghe, N. (2015). Principles of Knowledge Management: Theory, Practice, and Cases: Theory, Practice, and Cases. Abingdon: Routledge.  Retrieved on: 6th March 2018 From:             https://www.taylorfrancis.com/books/9781317415169

Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach. Abingdon: Routledge. Retrieved on: 6th March 2018 From:

            https://www.taylorfrancis.com/books/9781351960717

healthknowledge.org.uk (2018), The impact of political, economic, socio-cultural, environmental and other external influences Retrieved on 6th March 2018 From https://www.healthknowledge.org.uk/public-health-textbook/organisation-management/5b-understanding-ofs/assessing-impact-external-influences

Ho, W., Zheng, T., Yildiz, H., & Talluri, S. (2015). Supply chain risk management: a literature review. International Journal of Production Research, 53(16), 5031-5069.

             Retrieved on: 6th March 2018 From : https://www.tandfonline.com/doi/abs/10.1080/00207543.2015.1030467

Molina-Azorín, J. F., Tarí, J. J., Pereira-Moliner, J., López-Gamero, M. D., & Pertusa-Ortega, E. M. (2015). The effects of quality and environmental management on competitive advantage: A mixed methods study in the hotel industry. Tourism Management, 50, 41-54. Retrieved on: 6th March 2018 From: https://www.sciencedirect.com/science/article/pii/S0261517715000114

Ottman, J. (2017). The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Abingdon: Routledge. Retrieved on: 6th March 2018 From https://www.bkconnection.com/static/The_New_Rules_of_Green_Marketing_EXCERPT.pdf

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. UK: Pearson. Retrieved on: 6th March 2018 From:

            https://testbank24.com/pdf/Solutions-Manual-Strategic-Management-and-Business-Policy-Globalization-Innovation-and-Sustainability-14th-Edition-Wheelen.pdf



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