Technological changes have to be factored in. Other factors (internal or external that might affect the company conditions, including external factors such as economic, political, legal environment, technology, competition, as well as markets. Internal conditions that affect operations include human resources, facilities and equipment, financial resources, customers, products and services, technology, suppliers and some other reasons. The chapter also lists other strategies including modification of the supply chain strategy, sustainability strategies that lower the impact upon the environment, etc. And global strategies that take into account the international nature of the present economy (ibid., 51).
Chapter 2 goes on in the discussion about operations strategy (narrow in scope, internal to the company), with its being distinct form organizational strategy which is broader in scope. For the operations strategy has to be linked to the organizational strategy. Unfortunately, this is often neglected by companies in favor of marketing and financial strategies. However, by the 190s and 1990s, business failures caused many companies to change tack and to focus on operations strategy. A key element of both operations strategy and organization strategy is strategy formulation. If its well designed and executed, these strategies can have a major improvement in operations. The strategies depend heavily upon quality and time strategies and not just upon efficiency and cost minimization (ibid., 52-54). Productivity and the factors that improve makes up most of the rest of the chapter. These include multi-factor productivity issues such as labor and material costs and overhead. This leads into the mathematics of forecasting, upon which strategies can be based ibid., 55-71).
Chapter 3 of the text expands upon the mathematics of forecasting and way that it ties together HR, marketing, MIS, operations and product service and design. Once put together however, good forecasting can not do the job alone. It also has to be carefully managed in detail. One can not just assume that computers and forecasting models will do the job on their own. Features common to all forecasts include timeliness, accuracy, reliability, expressed in meaningful financial units, forecasts need to be in writing, should be simple to understand and use and also be cost-effective. Forecasts drive the supply chain. The approaches to forecasting can be either qualitative...
Operations Management Tools Headquartered in Las Vegas, Nevada, Harrah's Entertainment is the world's largest gaming company (Harrah's Entertainment, Inc., Hoover's) with revenue of more than $4.5 billion in 2004 and a one year sales growth of over ten percent. Harrah's owns, operates, and/or manages more than forty casinos (under such names as Bally's, Caesars, Harrah's, Harveys, Horseshoe, Showboat, and Rio) in four countries. Its operations include casino hotels, dockside and riverboat
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airlines operating in and out of the UK. It has 12 sources in Harvard Style. Company Overview British Airways (BA) has come a long way by expansion of their services and fleet. Currently the airline is operating from Harmondsworth in the United Kingdom. British Airways is the biggest airline providing airline facilities all over Europe. The airline has strength of more than 365 planes. British Airways offers its clients access to
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