Executive Summary
The Purpose of this report is to analyze the current situation of Purchasing & Inventory Management, and identify the operational problems within the organization and to develop the set of recommendations that would help organization to have effective and efficient process for the purchasing of material and inventory management by applying the relevant principles of Operational management theories and models.
The company Brisbane Outdoor was established by Mr. Donald Saxon and expanded the business with the help of acquisition of other outlets, he has developed the independent structure of management within all three outlets, that has been run by the experienced staff, his one of the staff named Belinda Green decided to buy the
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2. Advantages and Disadvantages of Current Process
Advantages
The laissez-faire leadership style is also known as "Discretional style of leadership.
It is one in which the senior management provides little and or no direction and gives employees as much independence and freedom. All authority with power is given to the subordinates and employees and they must determine goals, objectives and make decisions, and resolve problems on their own and as on basis.
• This is an effective style to use when employees are high skilled, with experience, and education.
• Employees feel great pride in their work and the drive to do it best on their own.
• Outside experts, such as staff specialists or consultants are being used
• Employees are trustworthy and experienced
• Motivation to the employees, as they feel more part of the business and operational process to take decision and make the operation flexible with the demand of the market.
The other advantages of the current process includes the following:
• Freedom to choose any sort of item feel appropriate with the
Inventory management has traditionally been considered as a necessary resource that every company needed. Its primary purpose was to evaluate and control inventory from the raw material level, through the production process and control stage, to the final out-door delivery. These older models of inventory management had several issues, such as inefficient control system, long cycle time, and bureaucratic process. Beginning in the late 1980s, many corporate businesses became deeply interested in developing new inventory management system that will reduce operation cost and expand market chare. Today, the business world is still improving its inventory system. The most effective systems are now not just count products and manage production schedule, but obtain lower prices by making large purchases, and increase inventory turnover. Today, forward-looking corporations build their serious efforts at inventory management systems through implementing new technologies, involved digitization, Internet, high-speed data network, and other e-sources that became available after business outsourcing and globalization.
This study will also identify the theories that will help answer these and other questions. In addition, this research will determine methods in which these theories can motivate the employees.
... succeed and will guide and build their followers to acceptable levels while striving to improve and achieve the highest quality of workers to maximize work productivity.
...s about issues of consequence, shift them to higher level needs, influences them to transcend their own self-interests for the good of the company, and inspires them to work harder than they had originally expected.
The company’s approach to motivate employees has been working in a positive way. The employees are satisfied with the family style community, and the productivity has increased as well. The company’s style of treating employees as important partners has been successful in other manufacturing companies too. For example, when Honda opened its first factory in the U.S., the CEO and employees shared the same cafeteria, just like Lincoln.
What motivates employees today? This is an increasing concern to managers today because the definition of motivation is a very complex. One cannot actually define motivation but can give theories to better explain it. In this paper, I am going to talk about some of the major theories and factors that affect motivation at the job.
Launched by Jeff Bezos, the Amazon.com website started in 1995 and is today considered as one of the most prominent retail website on the internet with a record turnover of US$ 14.87 billion in 2007. Jeff Bezos’s intention was to create an internet based company with the most dedicated product portfolio on the internet where customers could find anything they might want. Amazon’s success is based on technology, services and products (Jens et al., 2003).
The performance of employees will make or break a company; this is why it is important to find a variety of methods of motivating employees. The most obvious form of motivation for an employee is money; however, there are other motivation factors that must be considered. Every employee within a company is different and, therefore, is motivated to perform well for different reasons. Conversely, due to the differences within an organization, it is important for a manger to get to know their employees and understand what motivates their performance.
There are many factors that can affect the overall success of a business. Yet, few are as important to understand and master as employee motivation. This is because a highly motivated workforce translates into increased productivity which helps ensure that the business reach its goals. Business owners who are smart make sure that a well thought out and tested motivation strategy is firmly embedded into the business model. Further, they are sure to consider how major decisions could affect their staff. In order to gain a better understanding of what drives the motivation of an employee, we must examine where motivation comes from both from a physical and psychological perspective, review the various theories of motivation, the importance
Many business managers today are not aware to the response that motivation can have on their business. The size of the business is not a factor when considering motivation: whether you’re trying to get full potential from one hundred or an individual everyone is in need of some form of motivation. It is something that is tackled differently by different organisations and the reasonability of its integration lies with all the supervisors of staff. However, it is the owner who must introduce motivation as a way to attain the businesses goals. It is key to understand the various tactics that managers and supervisors will use to motivate there working staff also why it’s important to initiate extrinsic and intrinsic motivation into the work place. “There is only one way…to get anybody to do anything. And that is by making the other person want to do it” Dale Carnegie.
• This could motivate performance and results and lead to an increase in employee satisfaction and engagement over all.
Inventory management is a method through, which a business handles tangible resources and materials to ensure availability of resources for use. It is a collection of interdisciplinary processes including a full circle from the demand forecasting, supply chain management, inventory control and reverse logistics. Inventory management is the optimization of inventories of manufactured goods, work in progress, and raw materials. According to Doucette (2001) inventory management can be challenging at times; however, the need for effective inventory management is largely seeing more as a necessity than a mere trend when customer satisfaction and service have become a prime reason for a business to stand apart from its competition. For example, Wal-Mart’s inventory management is one of the biggest contributors to the success of the company;
In today's complex business environment; traditional approaches like monetary incentives are not the only prime motivators. In addition to expecting financial incentives for their performance, employee's expectations are much more. Appreciation, recognition and opportunities for personal growth; must be catered for to harness maximum productivity. Furthermore in an era where change is imperative for the organisation's survival, highly motivated employees, represent flexibility and show willing to change; a vital component for the success of any organisation.
...ll benefit when the employees are well equip with the excellent oral communication, critical thinking, strong work ethic, teamwork, competence and setting the goal which requires a lot of thinking process.
Inventory management involves planning, coordinating, and controlling the acquisition, storage, handling, movement, distribution, and possible sale of raw materials, component parts and subassemblies, supplies and tools, replacement parts, and other assets that are needed to meet customer wants and needs (Collier & Evans, 2009). In order for business and supply chains to run smoothly, they must meet all the listed requirements for effective inventory management. Thus, inventory management must be managed wisely in order to be a successful an...