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Simply a strategy can be defined as performing different activities, from competitors or performing the same....

the leadership can be defined as a process that two or more people interconnect with each other, and one party influences the other's...

#management #leadeship #qualities #education #leader #business #business leaders

Controlling or control is an essential function in management. the meaning of controlling is comparing actual performance

#managememnt #controlling #process

The meaning of cloud computing is a pool of virtualized resources that deliver a wide variety of services over the internet

everything you need to know about Cloud Computing

#Cloudcomputing #informationsystems #information #cloud security #managememnt

what is management?

#management #efficiency #resources #managementprocess

Job Design is one of core function in Human Resource Management. the meaning of job design is the arrangement of tasks,duties, and...

#human resource management #hrm #jobdesign

Job analysis is plaiying a major role in Human Resource Management. as the primary function in HRM, it provides both information about...

#hrm #jobanalysis #management

Business organizations use many types of information systems to manage business processes, such as Transaction processing system, decision support system,..

#information systems #scm #tps #mis #dss #ess #kms

The industrial 4.0

The industrial 4.0 which means the fourth industrial revolution is the era of industrial practices that combined with the smart technology. This focuses on cyber physical systems, internet of things (IOT), cloud computing and the artificial intelligence. Because of industry 4.0 the manufactures can face to dynamic & changing market by becoming more flexible, and also the manufacturers will be able to connect factory floor with IOT (internet of things) and cyber-physical systems. With industry 4.0 the organizations can conduct operations with reduced wastage and effectiveness.

When considering impacts on supply chain management due to industry 4.0, there is a remarkable improvement. With industry 4.0 the organization has the ability to improve organizational success. It helps to operate operations functions with a lower cost, increases sales, and reduces inventory equipment. If an organization plan to process their supply changes management with digital, it require long-term investment. Some key impacts of supply change management due to industry 4.0 as follows

- With digital facilities the organization can operate their operations activities globally. The global supply chain connects with thousands of suppliers in many countries with greater transparency and accuracy.

- By using supply chain management systems the organization has the ability to process transactions with lower costs. Also it helpful for reduce unnecessary expenditures.

- With industry 4.0, organization will be able to manage their warehouses, office equipment and inventory.

- With digitalized and automated purchasing processes the organization able to do transactions instantly and enter real time data to the supply chain management systems. And also supply chain management systems are able to automatically setup operations activities with real time information.

- Collecting data, analyzing, and distributing to relevant parties is much easier with the systems

- The organization can expand their productivity and able to make new customers.

So the industry 4.0 is impact on supply chain management in many ways. Not only about the supply chain have management, but also it impacted on inventory management. With the automation the inventory process, inventory classification, inventory parameters and reviewing inventory is much easier. In a manufacturing organization there are three type of inventory, they are raw materials, work in progress inventory and finish goods inventory. With inventory management 4.0, the organization can manage its inventory easily.

- With automated and digitalized purchasing processes the organization can do transactions immediately and enter real time data to the inventory management systems. And also inventory management systems are able to automatically setup right amount of inventories at the right time

- Purchasing price, transporting cost, ordering cost, customer demand, supply lead time and selling price are the key variables in inventory management. But when considering about some variables like supply lead time, customer demand, and organizations face to some difficulties when estimating. Therefore firm need to take weak estimations due to lack of information. In this case, with industry 4.0 the all the entities and partners have the ability to share real time information. it is very important for manufacturing entity for planning the operations at the right time.

- Traditionally there are two methods for inventory reviewing. The methods are periodic method and continuous method. In periodic method the inventory is reviewed in regular basis and the inventory is reviewed over the time in continuous method. To review the inventories, the organization need to spent more time. But with industry 4.0 reviewing inventory is much easier with real time information.

With the fourth industrial revolution, there are so many improvements can be seen in both of manufacturing and service providing companies. With automated and digitalized business processes, the organizations are able to achieve goals and objectives effectively.

#industry 4.0 #management #information systems

TOTAL QUALITY MANAGEMENT (TQM) PRACTICES AND ORGANISATIONAL PERFORMANCE

The Total Quality Management (TQM) can be defined as a management approach that helps to improve quality of products and services in the organizations. Also this method is connected with other business functions and improve the effectiveness and efficiency. By using this framework, the organization will be able to make a long term organizational improvement. Basically TQM focuses on improving quality and make a value for the customers.

TQM in manufacturing organizations

When it comes to manufacturing industry, the total quality management approach can be use to improve the quality of products and increase the effectiveness and efficiency. This is a management ideology that combined all organizational functions (Marketing, finance, research and development, HRM). And also total quality management has the ability to detect and reduce the errors in manufacturing process.

So basically the TQM framework can be recognized as a customer focused process and it plays a major role for the improvement of business operation. This approach is a consist of leadership, strategy, planning, customer focus, people management and process management. Therefore this management approach is so important for the organization improvement in many ways.

- Total quality management plays a vital role for increasing the organizational revenue

- This can be used for increase productivity by minimizing inputs and maximizing output

- Basically TQM process is focused on customers, this is a good method for increase the customer satisfaction and give a value for the customers.

- The organization has the ability to produce products with a good quality

- Reduces the wastages and improve the effectiveness and efficiency.

TQM in service providing organizations

Not only in manufacturing industry but also the quality management approach is used in service providing industry.

When considering about service providing organizations, they also use the TQM approach for the organizational improvement. This Total quality management is mainly focused on achieving the quality in everything. It includes customer focus, decision making, quality organizational culture, people oriented technology, governance and leadership. When an organization providing a service their service must be quality service and also it needs to be improved continuously. By using Total Quality Management (TQM) approach the organization will be able to

- Make a good position in the competitive market

- The ability to increase customer focus and customer satisfaction,

- Reduce the wastage of utilizing organizational resources.

- Ensures the employees are trained and qualified for providing service.

- Develop the quality of service with effectiveness and efficiency

- Make a good value for the customers and increase customer reliability.

- Review all of business functions, detect errors and improve its effectiveness

Therefore service providing organizations use Total Quality Management practices as well as manufacturing organizations. The main aim is to provide quality goods and services for their customers.

#tqm #management

JUST IN TIME (JIT) PRACTICES AND ORGANIZATIONAL PERFORMANCE

Just in time (JIT) is a famous inventory management strategy among the both manufacturing and service providing organizations. This strategy system line up raw material orders from their suppliers directly with schedules. Most of the companies use this strategy as a way of increasing organizational performance. Basically this method is used for reduce the wastage of the organization.

Just in time strategy in manufacturing businesses

When it comes to manufacturing organizations, companies use this strategy to reduce wastage and increase effectiveness and efficiency. Basically the objective of this method is to decrease the amount of equipment, space, material and a great value for the product.

With the usage of Just in Time strategy, manufacturing companies acquired remarkable improvement in production processes. The impacts of this strategy for the organizational performance can be represented as follows.

- This method reduces the cost by decreasing warehouse needs. So the organization doesn’t need to pay a cost for storing their products.

- Because of just in time strategy the organization will be able to minimize waiting time and the transporting cost

- This method increases the effectiveness and efficiency in production process

- If there is a breakdown in the supply chain, the organization cannot deliver the products on time

- When the organization proceeding JIT strategy there should be a well planned operation process.

- There is no need for inventory management

- Able to provide products at the right time.

· Just in time strategy in service providing businesses

When considering about service industry, they also use Just In Time (JIT) strategy as well as the manufacturing organizations. In this case JIT focuses on the process and is applicable for every process in the operations. Usually more waiting time and queuing are the common issues in service sector. By using Just in Time strategy, the organization will be able to do these processes quickly and it will help for reducing the waiting time and queuing in the organization. In service providing industry the JIT strategy can be used in many ways, it can be helpful for flexible workforce, purchasing systems, layout, standardization, and for scheduling.

The product may be a good or service, the JIT strategy is applicable for both industries. It helps o increase the effectiveness and efficient to improve the organizational performance.

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