How Uk Manufacturers Can Effectively Create And Capture Value

To what extent is embracing technological change the most significant factor in the future success of UK manufacturing businesses? Justify your answer with reference to your own research and the item above. (40 marks)

Operations Management is responsible for designing, operating and improving productive systems or in layman’s terms, systems for getting work done. Operations Managers are found in all walks of life. In anything you basically do or have done there are operations managers. When you go to the store, when you buy gas, in factories, in hospitals, banks even in your government there are operation managers. They are the ones who design systems, who ensure the quality of your

A company’s success in developing and sustaining its competitive advantage does not depend on its own value chain but on its ability to manage the value system on which it is a part. An example would be an automobile manufacturer that may have its suppliers set up facilities in close proximity in order to minimize transport costs and reduce parts inventories.

Operations Management in an organisation is repsonsible for managing and in making decisions concerning the activities that convert inputs into outputs , that is goods and services. This covers both short term actvities as well as longer term activities to meet strategic goals. Inputs can be the raw materaials need to manufacture goods such as furniture or the computers needed to create a service like online shopping site. Operation management’s role is to make decisions to improve how operation activities function, for example, to improve the final quality of the output or to change production methods to be more efficient in terms of cost and in time.

Supply chains must be managed to coordinate the inputs with the outputs in a firm to achieve the appropriate competitive priorities of the firm’s enterprise processes. The Internet offers firms an alternative to traditional methods for managing supply chains. A supply chain strategy is essential

Whether selling a product or producing a service, companies have to find and establish a set of competitive advantages (Gertner, 2013). These advantages should be advantageous to the customer and also be sustainable to the company (Gertner, 2013). The value chain is a tool that companies can use to analyze the steps they need to take to provide the highest level of service to its customers and create a competitive advantage (Blocher, Stout, Juras, & Cokins, 2016). The value chain analysis tool can be taken to the next level when companies utilize it to help them assess where they can reduce costs, which processes are not competitive or productive, and if there are any steps that can be outsourced (Blocher, et

Riordan is comparable to many other manufacturing firms in that they have grown through a product-centric approach to selling. The Intranet site illustrates how companies grow when they compete on product features, price and availability, which over time can drive a company into having commodity-like business models. This needs to be avoided, as selling on benefits and value will ensure higher gross margins over time and a high chance of being relevant to customers as they also change. One of the most effective strategies Riordan can immediately do is implement a CRM system that captures customer preferences, including what they like most and least about the products that are being sold. Having insights into the most and leas

Operation management is the practice of business to create the highest level of efficiency possible within an organization (Investopedia.com, 2010). Through operation management, managers can identify, measure, and improve the efficiency of the operation. To maximize the Bedside Delivery Program, managers can utilize techniques and methodology such a decision tree and Six Sigma to make informed decision.

Operations management refers to all levels of an organisation and how best to efficiently convene, fund, maintain and maximise its services and/or operations, both internal and external. The core goal/objective of operations management it to maximise outputs while reducing and minimising the inputs required to achieve the desired results.

- M&S rewards complying suppliers who promote continual improvement with the opportunity of co-development and long-term relationship advantages (training, share expertise and information...)

As the birthplace of the world industrial revolution, UK has been a traditional and global manufacturing power. The value of output in UK every year is more than￡150 billion, which accounts to 13% of GDP. Furthermore, UK manufacturing ranks first in Europe in attracting foreign direct investment, which is next only to the United States in western countries (He, 2011).

Organizations having supply chain world-wide face more risks such as supply disruptions, longer lead times etc. caused by global customs, foreign policy regulations, port delays, political instability, recession in a specific region’s economy etc.

In a globalised world, the need to maintain some distinguishing edge is all the more essential, not only to grow or protect market share, but also to provide anchors to defend appropriation of value by adjacent players in the supply chain.

Operations management is generally described as the planning, arrangement, and control of activities that change raw materials or an organization's input into finished products and services. The overall activities covered by operations management include the creation, development, manufacture, and distribution of products. The concept also relates to various activities such as inventory control, controlling purchases, quality control, logistics, storage, and evaluation ("Operations Management in McDonalds", n.d.). Since operations management covers the entire operations in an organization, it mainly focuses on the efficiency and effectiveness of the firm's processes.

Operations Management is defined as how we deal with the design and management of products, processes, services and supply chains. It considers the acquisition, development, and utilization of resources that organizations need to deliver the goods and services their clients want.