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Wednesday, July 9, Operations Management Problems at Nike Operations management is a vital business function that remains a very important field of study in both academia and the corporate world.
Operations is concerned with the transformation of inputs into outputs, and how this transformational process is managed determines the efficiency and profitability of a company.
Operations can be viewed as the central core of an organization through which all other functional areas interface.
In a global market, managing operations is no small task.
With factories, offices, stores, and distribution centers dispersed throughout the world, multinational organizations are responsible for coordinating operations across a global supply chain. Supply chain management is a field of operations management that is concerned with the flow of information, products, and services across a network of customers, enterprises, and supply chain partners.
While coordinating this web of operations, organizations must minimize costs, maintain and improve quality, manage processes and human resources, and continuously seek innovative ways to compete in a highly dynamic global marketplace.
Nike Inc For the purpose of exploring concepts and tools used to effectively manage operations, let us consider an organization that has encountered problems with the management of their global supply chain in the past.
Nike currently has factories, employingworkers in 44 countries around the world. The supply chain was initially built through the outsourcing of manufacturing directly to suppliers. This project proved to be a disaster for Nike.
Nike officials claimed that the software resulted in shortages of some stock and excess of others. Nike was forced to quickly fill back orders and dispose of excess inventory through discount distribution channels. The primary issues outlined are inventory management, scheduling, and demand forecasting.
Additionally, we will need to consider ways that Nike can improve their operations as originally intended back in with the Future Program. We will explore strategies, tools, and software that Nike can implement to effectively reverse its growing problems through the realization of an objective global operations strategy.
Demand Forecasting One of the most important components of efficient supply chain management is accurate demand forecasting. This is because procurement, production, distribution, ordering, scheduling, and inventory are all determined based on predictions of what demand will be.
While forecasts are never completely accurate, there are a variety of tools and techniques that Nike can use to improve the accuracy of their predictions.
One common and useful method of forecasting demand is linear regression. By relating demand to time and studying the linear trend line, the company can project the slope into the future and make predictions based on past behavior.
Seasonal adjustments should be made and forecast error calculated to improve accuracy. Forecast error can be calculated using techniques such as mean absolute deviation MAD. By monitoring forecast error over time, Nike can implement forecast control and calculate a tracking signal to determine if predictions are consistently high or low.
This will allow the progressive refinement of their predictions from one period to the next. The first step to efficiently managing inventory is generating accurate demand forecasts. Next, Nike should utilize their recently implemented ERP software and coordinate this with their suppliers.
The combination of these two strategies could have a significant positive impact on both Nike and its suppliers; improving the entire supply chain starting farthest upstream at the procurement of raw materials.Download-Theses Mercredi 10 juin Advantages And Disadvantages Of FedEx And UPS Essay Sample.
This essay critically analyses two giant competitors in the package delivery industry: Federal Express Corporation (FedEx) and United Parcel Service, Inc. (UPS).
Challenges of a global business include different approaches, standards and political and social realities of various countries and jurisdictions that may not have consistent levels of oversight or enforcement of human rights protections. Marketing Ethics Prepared and written by Dr.
Linda Ferrell, Ethical issues are usually resolved through the legal system. But the negative role of individuals and their values is one of the most difficult challenges in under-Marketing Ethics.
Marketing Ethics. Marketing Ethics. When a contract factory wishes to do business with Nike or one its many subsidiaries, it is critical that the owners and/or managers in the supply chain understand the cultural differences across the globe.
A master jazz musician reaches for unexpected notes and makes it look easy, natural. Likewise the CEO responding to crisis needs a degree of comfort with the material at hand. To respond well to ethical challenges requires that the CEO be comfortable talking about ethics and about moral responsibilities.