Mgmt20130 Operations Management And Technology Assessment Answers

Operations Management and the latest trends

In the latest era of technological development, there have been a huge amount of implementations to suggest productive ways of handling operations in the organization. In the global market, organizations have been competing with each other to implement management strategies to focus more on the path of getting ahead in the industry compared to the competitors in the market (Lasi et al., 2014). This has proven to be beneficial in most cases as per reports and following are the ways in which companies have been maximizing operations by adopting the latest trends given the technological development:

Internal communications: The first and foremost important feature of a successful management of the operations in a business is effective communication. It is more important to develop an internal communication system within the organization. Internal communication solves all the problems of addressing the concerns of employees who often complaint of their concerns to get overlooked (Schmidt et al., 2015). This issue cannot be solved by the open end communication programs alone but needs some amount of communicative mobile collaboration platforms implemented by the newest technologies.

Mobile accessibility: In whichever industry does an organization belong to, it is always necessary that to have an effective operation management that the production or services of the organization reaches a proper target market through mobile accessibility. It is right now being regarded as the future of operations management (Lee, Bagheri & Kao, 2015). Besides the reliability of most people on the mobile devices, it is also necessary that the communication devices of an individual, especially a Smartphone and other smart devices get utilized to run every operation in an organization. Therefore, in the latest era or business, outlets for mobile collaborations are being established via any application or the web for the employees to share information or individual feedback or concerns. This system enables a person to send out relevant information regarding the organization’s general needs, including bypassing of emails or sharing methods of information by hard copy. This also enables remote access to information, tools and connectivity irrespective of the role an individual holds within an organization. Mobile collaboration meets the requirements for addressing a number of concerns for operations management all at the same time.

Automatization: The latest technological evolution has enabled business processes to save money and increase business efficiency at the same time through automating business processes including all the areas of operations management (Liu & Xu, 2017). There have been introduction of various latest technologies that have enabled the users to do so and implement the same in their respective business processes which does not depend upon the type of industry the organization belongs to. The latest technology implements online reservation services, inline transaction functions, automated chatbots and mobile check in features to name a few. If a connecting device, specially a mobile one is dedicated to specific business, employee time gets freed up. It requires much more time and effort if an employee or a team is assigned to monitor and take regards of the same problems over time. However, the latest technology implementation suggests that the automatization is not just restricted to a company’s presence on the internet. It also focuses on the automatic delivery of media campaigns, calendar alerts and changes in schedule along with the read-receipt functions that happens to add automatic conveniences to the business processes taking place regularly within the organization.

Performance Analysis: A complete and detailed analytics of the entire organization provides a window for the company to have a baseline on which it can be looked after what changes are needed within the company to develop production and services. When a digital analytic solution provides a company with comprehensive measurements of the gaps that have been there in the organization, it becomes easier to mitigate the problems (Rüßmann et al., 2015). Business owners are thus able to make a proper decision regarding the implementation of proper practices to help the business move forward. This not only makes a company track their performance online or have a proper track of their onsite sales but also helps them have proper track of the productivity, communication and service providing capability of each employee over time. In addition to this, the collaborating applications helps this technology from an angle of the operational management team, providing insights about the employees, such as which employee is actively engaged in the rate of productivity and which of the employees might need a hand of assistance and encouragement.

Analytics of the employees: This technology enables help to the operations management beyond the probability of having analytics based on figures. Since, there are levels of improvement in an organization beyond sales analytics, feedback from the employees and other surveys, the employee analytics also have the ability to provide proper insights for the overall benefit of a business (Roblek, Meško, & Krapež, 2016). Operations management is often misunderstood to provide solutions only to materials and products utilized in a business process but this technology makes awareness of the fact that the personal level of employees also forms a major component of any business structure. A sense of community forms within an organization when employees are acknowledged on a personal level. The latest technology implementation in operational management is enabled by developing random surveys and acknowledging the automation of their delivery. This can be followed by asking for feedback from the employees in a simple format. Pre-scheduling the survey campaign enables the consistent revival of employee feedback needed at crucial times, which is an excellent way of tracking the team vitals. This eliminates the need of setting up one-on-one meetings with the employees from time to time for soliciting their input. Thus, the latest technology implementation saves a lot ore time to focus operational management in jotting out more productivity.

Outsourcing: Outsourcing is one of the top priorities of any organization’s operation management techniques when it comes to reduce costs. Contracting outside agencies or individuals often enables companies to save money by hiring additional staff at cheaper rates. This is only done when no internal staffs is available to take up extra jobs offered to an organization (Manogaran et al., 2017). However, carefully considering which projects and tasks to outsource helps avoid creating an overly competitive atmosphere among employees and contract workers. In many cases, specialists in an industry can offer insights and business guidance that no employee on a team could provide. If receiving this outside assistance will save a company from financial disaster, an up-front investment could prove invaluable.

The Latest business implementation of Industry 4.0

The world of technology is ever changing since the time of its inception. Changes in technology affect all the aspects of human life in every way. Similarly, the changes in technology affect the business world as well. There has been a rise in the digital world about a new industrial technology, known as the Latest business implementation of Industry 4.0 that has managed to bring about sustainable and revolutionary changes in the world of business (Wang et al., 2016). The transformation has made business organizations attain a possible goal of gathering and analyzing data across devices. This has made it possible to maximize production to a greater level improving faster, flexible and efficient processes. The effect of Latest business implementation of Industry 4.0 has spread faster in the organizations and the following report would analyze this effect on the Operations Management of organizations. The latest business implementation of Industry 4.0 has offered to modify the structure of a workplace increasing productivity, shifting the economics and foster the growth of industry.

Latest business implementation of Industry 4.0 has been transforming the face of business in the latest time irrespective of the industry an organization is belonging to. This leads a business to greater efficiencies in terms of proactively improving the production and services to the clients (Theorin et al., 2017). It was analysed before that Latest business implementation of Industry 4.0 will be able to transform the face of business in later times in accordance to the relationships a business has amongst its consumers as well as with their suppliers and producers. Not only has this, but latest business implementation of Industry 4.0 also been merging the gaps between human and machine. The latest technology of Industry 4.0 depends generally on nine major factors, which forms the base of development of any business process adapting to the latest technologies for the betterment of the organization. The following are the major zones of factors that are enhanced with the implementation of Industry 4.0:

• Big Data and Analytics
• Horizontal and Vertical System Integration
• Autonomous Robots
• Simulation
• The Industrial Internet of things
• The cloud
• Cyber security
• Augmented reality
• Additive Manufacturing

Influence of Big Data on firms to improve the effectiveness and efficiency of production and services

Big Data and Analytics are considered as the major tools that are applied to a huge set of disperse data sets to locate impactful and meaningful insights for a major business organization. It has received much attention in the latest times for Information Systems research and currently the Big data and Analytics have proven to improve and organizational performance. The Big data and Analytics help the organizations in understanding the target market better than the competitors for leveraging opportunities with the help of accessing abundant data (Sanders, Elangeswaran, & Wulfsberg, 2016). It has thus been found that major industries in the contemporary times have been utilizing the advantages of Big Data and Analytics frequently. This has in fact, proven to enhance organizational performance as a whole. There have been ongoing researches about the utilization of Big Data in industries in implementing them with more proficiency and utilizing them for other performance based analysis as well (Lu, 2017). It is now being researched about how Big Data and Analytics could create value for an industry, increase the business process agility and ultimately improve the entire business organization as a whole.

Big Data and Industry 4.0

Taking the context of Industry 4.0, the entire process of collecting data from different resources and evaluating it comprehensively is slowly becoming an integral standard in supporting the real time decision making process, for the overall Operational Management team as well as the enterprise and customer management systems. Every day, different organizations face formidable challenges and adopting the new technologies thus are able to mitigate them for the advantages they possess (Shrouf, Ordieres & Miragliotta, 2014). If an organization fails to adapt to a latest technology with time, it can soon be found that the lack of evolving has made the organization come to bite the dust. For building a lead and sustaining it after adapting to a full implementation, an organization needs to deepen and broaden the practical knowledge they possess about the different technologies and the evolution of latest technologies along with relatable used cases (Lee, Kao & Yang, 2014). Only then can a development and implementation plan of adapting to latest technologies in this era of Industry 4.0 be declared as successful. Integrating a resource based view on the matter of implementation of Big Data and Analytics in the latest technology of Industry 4.0 is an important process and this possesses a much bigger impact on any organization which focuses primarily to surpass their competitors in the long run (Obitko & Jirkovský, 2015). From the perspective of the functionalities of Operational Management, this feature of the development of latest technology is feasible and effective to use. 

Conclusion

Thus, it can be concluded from the above report that the effect of Latest business implementation of Industry 4.0 has only made positive changes in the business environment managing the promise of better production levels efficiently and effectively. The technology has spread faster in the organizations and the report has successfully analyzed this effect on the Operations Management of organizations. The latest business implementation of Industry 4.0 has offered to modify the structure of a workplace increasing productivity, shifting the economics and foster the growth of industry. This has further promised to change the competitiveness of companies over different regions all around the world. These has been analysed by describing in details about the latest trends that have been implemented in the Operations Management and Technology Development. Further, the latest business implementation of Industry 4.0 has been described in details with the influence of Big Data on organizations for the improvement in effectiveness and efficiency of production and services following next. Finally a comparative analysis has been presented on the Latest business implementation of Industry 4.0 and influence of Big Data on the current technological development era in the business world. With all these analyses done on the Latest business implementation of Industry 4.0 and its effects on the Operations Management and technology development, it was also found that the Latest business implementation of Industry 4.0 also has minor vices added to all the benefits it offers. The production level increases but the first implementation requires monetary additions to it and also the employees need to be trained enough for adopting into a new business practise. Thus, it can be said that the technological development has been beneficial to the Operations Management as a whole.

References

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