Essay on Operations Management Gap Analysis Of Contemporary Organizations

Essay on Operations Management Gap Analysis Of Contemporary Organizations

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Operations Management Gap Analysis of Contemporary Organizations
Introduction
The paper carries out gap analysis of operations management in contemporary organizations. The objective is to apply the concepts learned during the course on real-life situations. Both qualitative and quantitative methods have been used in this analysis to assess the shortcomings in current operations of several organizations. The sources for secondary research on the subject are journal articles and published books; while primary research has been carried out through interviews with key management figures in organizations.
Discussion
Inventory Management – Ehrenthal, Honhon, & Woensel (2014) has discussed problems of inventory management within the online retail industry of US and cites examples of several organizations including Blue Nile. The authors mention that the online jewelry retailers face the dilemma of choosing the stocking option. The drive to maximize sales pushes the company to increase its production volume in order to maximize its profit through the sale of its products while it also needs to minimize inventory carrying costs to remain competitive. Faced with these dual conflicting objectives, there arises a problem of matching supply to demand (Ehrenthal, Honhon, & Woensel, 2014). This gives rise to the major problem for Blue Nile for adequate management of stocks.
This issue stems from the fact that Blue Nile also has a higher average production time than industry average and during high demand of jewelry, the company needs mobilization of large financial resources. Blue Nile does not implement just-in-time inventory management system, and analysis of the various costs associated with stocks show that finished products comprise of th...


... middle of paper ...


...Goodman Global, Blue Nile and Orange Leap Frozen Yogurt. The objective of the paper was to apply operations management concepts on real-life situations. It is concluded that these three companies lack in implementation of essential operations management principles in their production process. Recommendations are suggested for each one of the businesses and the benefits associated with the approaches are also discussed.



References
Ehrenthal, J., Honhon, D., & Woensel, T. (2014). Demand seasonality in retail inventory management. European Journal of Operational Research, 238(2), 527-539.
Lewis, M., & Slack, N. (2011). Operations Management: Critical Perspectives on Business. Ohio: Taylor and Francis.
Reynolds, D., Rahman, I., & Balinbin, W. (2013). Econometric modeling of the U.S. restaurant industry. International Journal of Hospitality Management, 3(4), 317-323.

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