Course: Level 7 MSc Operations Management
Operations and Information Management
Executive summary
Omegaco is a handmade fruit juice company in the UK. In the current times, the company is facing multiple issues regarding the high competition in the market and also the inflation rate. With the help of effective and efficient Quality, capacity, Suppliers and consumer management, the company can improve its performance. This report analysed numerous practises required for the OmegaCo firm to administer its services. The organisation and its emphasis on supplying fruit juice to different communities have been seen to be adversely harmed by the worldwide pandemic. As a result, both the management of its staff and the calibre of its services have drastically decreased. In this study, the BPM model for customer management was described, and examples of both the current and suggested numbers were provided. Therefore, the businesses needed corrective actions, including ERP models and theoretical frameworks, to restore services. Positive results have also been obtained via initiatives like partnerships with other businesses. The development of theoretical frameworks adds to our understanding of project and innovation management.
Also Read: Recruitment and Selection within the Arcadia Group
Table of Contents
- Introduction
- SWOT analysis of OmegaCo
- Effective and efficient management of capacity, quality and both suppliers and customers
- Business Process Model (BPM) Techniques
- Enterprise Resource Planning (ERP) software solution
- Industry 4.0 technology (AI) and benefits
- Conclusion
- Reference List
Introduction
According to the evaluation of today's dynamic business landscape, the organization's business landscape is facing tremendous challenges where organizations are not able to adapt to the market evaluation condition as per need. omegaCo is a medium-sized organization which produces high-quality handmade fruit juices under the support of ZetaCo, which is a large organization with strategic aims of global expansion (Dasenaki et al., 2019). This report is mainly evaluated with current operations and information management processes undertaken by a technical consultation sent by Zetco. The report majorly focuses on the multiple facts of OmegaCo's business operations while analyzing its strength and opportunities. Besides it, the report also evaluates the potential benefits of the implementation of 4.0 technologies for the evaluation of operational excellence and efficiency for enhancing the customer and supplier relationship. By evaluating the major aspects it aims to provide period recommendations for OmegaCo's transformation and ownership.
Expert Assistance with Volkswagen Group Strategic Management Assignments - Diploma in Strategic Management and Leadership
SWOT analysis of OmegaCo
According to OmegaCo's current situation based on the analysis of SWOT, it can be evaluated with the present scenario the opportunity, strengths, weaknesses and threats.
|
Strength
|
Weaknesses
|
|
• In terms of a solid well-established image, Omega Co has a brand reputation for high-quality handmade fruit juice.
• In terms of long-term customer relationships, the company has a loyal customer base of small retailers and cafes where it has used its products for years (Dey, 2021).
• Omega co-benefits from a small network of local suppliers which aids in maintaining all the major quality with raw materials.
|
• As a major weakness orders are mostly placed via telephone which leads to tulle visibility of future orders and as a result, it is determined with longer lead time and prior order cancellation due to fluctuation of most of customer demand.
• In the market diversification companies' primary focus is to evaluate the major domestic market levels with OmegaCo vulnerable to sudden shipments in the local market.
• Besides its supply chain is another issue where managing the supply chain and based on the demands of the suppliers and production the efficiency can be fluctuated (Stroiko et al., 2022).
|
|
Opportunity
|
Threats
|
|
• In terms of global expansion, the acquisition of the market by implementing the ZetaCo offers several opportunities towards entering the international market and tapping into a bigger customer base.
• Besides it, in terms of digital transformation and investment ZetaCo's investment in the digital transformation for streamlining operations for improving the supply chain and prior visibility for enhancing customer impression and supplier interactions (PENQUE, 2019).
• For the continuation of analysis, the demand and forecasting of the market demands depend on the quality products as well as allows it to maintain the quality products where it can elaborate OmegaCo to maximize its reputation for a better, market excellence.
|
• According to the analysis of the market evaluation, nearly 20% of the market has decreased because of the inflation of the global pandemic which also affects OmegaCo's revenue and overall probability.
• Besides it, according to the competition analysis, entering into the market mainly requires a competitive analysis of the pricing while meeting the overall food quality, and posing several challenges it can be evaluated by, maintaining the quality while analyzing the omegaCo' 's pricing strategy (Enssle, 2020).
• Besides it, based on the health and awareness analysis including some of the major sustainability concerns and the economic factors it can be dependent upon the demand where OmegaCo;'s products are not able to adapt to the potential aspects.
|
Table 1: SWOT Analysis of OmegaCo.
Overall, according to the analysis of the acquisition by Zeta Co in terms of global expansion and digital transformation and prior opportunities, it must navigate with market decline as well as customer changing preferences where by analyzing the potential SWOT OmegaCo can help itself for its potential success.
Effective and efficient management of capacity, quality and both suppliers and customers
By analysing the case study, it has been understood that Omegaco is a handmade fruit juice company in the UK. In the current times, the company is facing multiple issues regarding the high competition in the market and also the inflation rate. The Covid pandemic is also a big reason for decreasing the performance of the company in the market. The sales of the company have decreased by almost 20% compared to last year. For the strong brand image, the Omegaco company has been brought by Zetaco. The competition is really high in this industry. Various big juice companies are already set their feet in this industry. The shelf life is very short for the fruits. So, the company needs innovative technology to improve its shelf life. The company has to maintain the quality of the juice every time. The demand for the products is changing based on the season. As a result, it will develop an impact on the performance of the business. The Omegaco Company is also facing various issues with local suppliers (Mohapatra, et al., 2021). As a result, the relationship with the buyers is becoming worse. So, to mitigate the issues the company has to deliver the products to the consumers on time. As a result, the consumers will trust the Omegaco Company and not cancel the order at the last minute. By managing the capacity the company can improve the performance and gain the trust of the consumers.
Assignment Help on Security Issues for SMEs Moving to the Cloud - Professional Secure Networks, MSc Computer Science (Cyber Security)
Capacity Management: Capacity management aids the organisation to utilise all the resources effectively to maximize the profit of the Zetaco Company and improve productivity. With the help of effective capacity management, the organisation can improve the satisfaction of the consumers by supplying the products in time to mitigate the requirements of the consumers (Goziev, 2022). By improving the efficiency of production capacity management can manage the medium and short-term demand of the consumers and the supply chain very well. Capability management aids the Zetaco Company to manage productivity very well and can adequate various methods of productivity. Capacity Management assists the organisation to identify the utilities of the resources and also the cost of the resources. The management assists to reduce waste by minimising the overall cost of production and using the older stock for productivity at first (Rao, et al., 2022). The Zetaco Company can modify the infrastructure network and boost performance by utilising capacity management more effectively. Capacity Management is very helpful to identify the actual issue in the business. By identifying the issues in the business the organisation can improve the management of the employees and prevent the issues which have been arrived in the business. For improving capacity management the organisation can issue multiple strategies to improve the performance. By using the lag strategy, the manager can hold the production until the demand of the consumers increase. And after increasing the demand the company arise the capability of the production to mitigate the demand (Narayanan, et al., 2020). The Zetaco Company can implement the lead strategy by increasing production before increasing the demand. The strategy has various risks but it will aid the company to mitigate the objectives.
Quality Management: Quality management is one of the most essential parts of the organisation to increase efficiency and improve the performance of the business. Quality Management is the most effective tool for the organisation to increase efficiency and production (Abbas, 2020). The primary objective of quality management is to focus on the consumers to improve their satisfaction and experience. The Zetaco company gathers the feedback of the consumers and on the basis of that the company is developing the strategies. By improving quality management the Zetaco company can increase the trust of the consumers and also improve the quality of the fruit juice (Kobets, et al., 2020). With the help of this management, the company can involve more consumers and increase the efficiency of the consumers and increase the overall productivity of the company. With the help of this management, the company can focus on the requirements of the consumers and understand the condition of the market very well. In every activity, the Zetaco Company can focus on all the employees and understand the issues of the employees to mitigate the strategy. Quality management is very grateful for increasing the competition in the market (Sun, et al., 2021). With the help of quality management, the company can successfully mitigate the objectives and also improve the condition of the business.
Suppliers and Customer Management: Managing the relationship with the customer and suppliers is one of the most effective things for the organisation to increase the business and improve the performance in the market. In the current situation, the Zetaco Company is supplying a very small quantity of products to local suppliers (Henninger, Bürklin, and Niinimäki, 2019). The company has to manage the supplier very well for increasing sales in the local market and regain its reputation. The Zetaco Company has to manage the suppliers for collecting the resources in time and continue production very effectively. With the help of that, the Zetaco Company can deliver the products on time to the consumers and develop the satisfaction of the consumers. As a result, the trust of the consumers will be increased in the organisation (Kuokkanen, and Sun 2020). By managing the suppliers the company can reduce the volatility of the price and increase the profit of the organisation. The consumers and suppliers are both very important for the organisation. The Zetaco Company has to manage both parties so well to improve the business. With the help of effective supplier management, the Zetaco Company can improve the efficiency of the supply chain and delivery the products to the consumers in time. By developing a long-term relationship with the consumers and suppliers the Zetaco Company can continuously improve the operations in the organisation (Nabella, 2021). As a result, the consumers and suppliers both will be benefited.
Business Process Model (BPM) Techniques
According to the topic interpretation of OmegaCo company, it has demonstrated the currently existing business procedure in terms of the overall customer management by which it can be evaluated for understanding and optimizing companies workflow by creating data-driven in terms of the visual representation with the key business process. In terms of analysis of the customer relationship, there are some steps that can be taken as per Figure 1. In terms of order initiation and tracking, customers mainly evaluate intimate orders through the user-friendly approach of the online platform (Zuhaira et al., 2021). The system captures the essentiality of several order details with product type, delivery date and some of the special deliverables. An automated tracking system can be generated by tracking numbers for inquiries. After the real-time order and visibility, the system mainly integrates with the customer with real-time provides and major updates of the delivery including the production system and the package delivery stages. Besides automatic notifications are mostly sent by the use of emails for reducing the risk and at the same time enhance transparency. In demand and forecasting and inventory analysis with the help of the historical trends which are used for the demand and forecasting it mainly allows OmegA for better anticipation with customer needs. Inventory levels can be optimized with fluctuations and demanding processes for reducing the risk (König et al., 2020).
After that, for customized customer engagement, omegaCo's team engagement and performance proactively evaluate sales and engagement while offering personalized products and recommendations for the time specification with regular communication where it can evaluate differently for approaching new products and promotional offerings by the company (Badakhshan et al., 2020). Besides in terms of analysis of the multiple delivery options and payment methods multiple delivery options including standard express based on the customer requirements diver payment method like a credit card, and online payment involves diversifying the customer preference. According to the analysis of feedback and the improvement after customer satisfaction for analysis the feedback from where it is identified several important ensuring while enhancing customer service. Besides it, with the help of loyalty and rewarding customer discounts for analysis of exclusive offerings (Ahmad et al., 2020). By implementing the overall customer management with the process where OmegaCo can enhance its relationship with the customers it could be helpful for analyzing the insights for gathering valuable insights for decision making in terms of the initial challenges.
Also read: Unit 7 Business Strategy Assignment Help - Pearson BTEC Level 5 HND Diploma in Business. Achieve top results with our expert Unit 7 Business Strategy Assignment Help Service!
Enterprise Resource Planning (ERP) software solution
ERP (Enterprise Resource Planning) software solutions are a subset of software technologies that allow businesses to automate and manage their operational procedures and activities in their daily business procedures (Yosevine et al., 2021). As per the report analysis of Hanum, Haekal and Adi Praseti (2020), ERP software solutions streamline the data flow between a company's business processes by creating a single source of truth and streamlining operations throughout the organisation (SAP, 2023). It can link the financials, operations, supply chain management, trade, reporting, analytics, manufacturing, production, sales, human resources, and other organisational activities on a single platform. They stand to gain enormous benefits from an ERP system that manages the standard of the services provided by the OmegaCo company. By focusing on the foundations of positioning products and other services on the market, the OmegaCo company may be able to strengthen communications with their employees, as is further explored in the study. As the product's versatility of applications that consumers can research through the user defined testings (Microsoft Corporation, 2022). As the aforementioned operation is done through the emplpyment of techniques like parameter testings, tolerance percentage analysis and more, these arehelpful in figuring out and analysing the ways efficiently companies and their services run. In order to maintain the dependability of services, businesses are advised to maintain comprehensive records of their business operations in accordance with the advice given in the second metric of quality measurement. Client information and other infographics that are crucial to the corporate matrix can be found in sensitive papers of a business (Khan, 2020). It can be seen that an essential inventory of the companies, like the OmegaCo firm, is the proper administration of papers, including contractual agreements and other critical information.
In relation to the quality management module integration, it must be concentrate on taking into account the many socioeconomic factors that may have an impact on the organisational business initiatives. Additionally, the program's integrated submodules must be followed by the enterprise, therefore the module integration must make sure of this as well. Relatin to the case scenario of OmegaCo, it can be comprehedned that one of most significant tasks for a handmade fruit juice manufacturing company is to maintain the product quality by quality certification. The quality of the product that is annually commercialised must fulfil the same standards to maintain fairness in business practises. It is certain that the financial benefits of the commercial sectors will result from the quality evaluation methods' reduction of inspection expenses. It will allow OmegaCo for data access for customer interaction programmes, e-commerce platforms, and corporate efficiency programmes in addition to the ERP system (Langenwalter, 2020). Integration enables the acquisition of better insights that will aid in streamlining company procedures (Pandey et al., 2022).
|
Evaluation characteristics
|
Open Source Software alternatives
|
Commercial/off-the-shelf products
|
|
Account Management
|
• GnuCash
• KMyMoney (Watkins, 2023)
|
• Details of the customer base for OmegaCo
• ERP devices and gadgets
|
|
Bank Reconciliation
|
• Zoho Books
• GnuCash (Forbes, 2023)
|
• Invoice of bank statement
• Ledger accounts
|
|
Customer Relationship
|
• DoliCloud
• EspoCRM (Open source alternative. 2023).
|
• Leads management
• Sales management
|
Table 2: Enterprise Resource Planning software solution for OmegaCo.
Industry 4.0 technology (AI) and benefits
One of the most crucial tasks required for OmegaCo to operate on a food secoor's commercial scale is the adoption of Industry 4.0 and its countermeasures. The use of artificial intelligence is one of the most cutting-edge strategies that can be indicated to improve the performance of the commercial sector. One of the most cutting-edge technological advancements that have the potential to completely alter the nature of economic performance is artificial intelligence (Elsayed et al., 2021). Analysing consumer trends is one use for artificial intelligence and using digital applications can enhances OmegaCo's workflow.
Noting from Sahni, Srivastava and Khan (2021), businesses , like OmegaCo that deals with selling fruit juice obbver telephone orders and gets payment in cash mode, can better understand what customers want in the future trends, their consumption behaviourals and taste preferences. To keep track of user preferences, the AI component makes use of digital tracking software that depends on cookies and other electronic elements. OmegaCo can evaluate consumer digital behaviours, including their wishlists, data traffic on particular websites, and other inventory, to identify the goods that are in higher demand. As a result, a more rapid pace of regulation can be applied to the pricing structure of the fruits and juices sold by the company (Olan et al., 2022). Using AI, OmegaCo can also monitor customer wants by using the reviews and feedback that users post on online forums. Following that, AI can be employed to curate numerous personalised adverts and promotions on online social networks like Facebook, Instagram, and others that can be indicated to further increase client retention.
Additionally, as OmegaCo operates in a market wherein the shelf life of fruits are low (as it can get rotten in a few days), AI can significantly benefit OmegaCo to check thre quality of fruits, and potentially avoid the scope fo fruits contamination (Sharma, Singh and Kumar, 2022).
Also read: Business Environmental Analysis Assignment Help - Unit 1 Business and the Business Environment (L/508/0485), Higher National Diploma in Business
Conclusion
Concluding the above report, this study offers a brief insight of the different procedures required for the OmegaCo firm to administer its services. This study haveevalauted that the global pandemic has had a significant negative influence on the organisation and its mission of supplying fruit juice to various communities. Its workforce management and service quality have since declined dramatically. The BPM paradigm for customer management was discussed in this study, and examples of both the current and suggested numbers were provided. Therefore, in order to restore services, the companies needed corrective actions like ERP models and theoretical frameworks. Positive results have also come from efforts like collaborations with other businesses. Additional knowledge about project and innovation management is gained by the development of theoretical frameworks. Additionally, an evaluation table detailing the Open Source Software alternatives and Commercial/off-the-shelf products for OmegaCo was discussed along with the benefits of "AI" in OmegaCo to enhance its profit in future.
FAQ
- Q: What is Operations and Information Management (OIM)?
- Q: What are the career opportunities in OIM?
- Q: What topics are covered in OIM programs?
- Q: What is the difference between Operations Management (OM) and OIM?
- Q: What are some of the key challenges in operations management?
- Q: What are some of the information systems used in OIM?
Obtain Solutions for Operations and Information Management Assignments in the UK
Still searching for HND assignment help? Your search ends here. Our business assignment experts excel at handling this type of homework and will complete any assignment quickly and affordably.
We offer academic writing assistance at a reasonable cost. Our professional BTEC assignment experts can handle any type of assignment and will deliver it to your email within the specified time frame.