Operation Management of Ikea - 2136 Words

Executive Summary: This report is about operational aspects. We have selected Hannan Prints, the manufacturing firm to analyse the supply chain. This paper scrutinize the crucial aspects of Hannan prints supply chain network, its plans and the implementation of strategy. By putting into practice different supply chain approaches, the firm will increase the benefits of supply chain network. In this report we have focused on supply chain inventory management and technology selection practices and how it is beneficial for the firm. In the firm operations are linked with different strategies. For example the change in supply chain has an effect on inventory management as well as technology selections. At the end we have given some†¦show more content†¦Flexibility saves time, maintains dependability and it accelerate responses. The low cost is attractive as no one likes to pay more. Hannan print always tries to reduce costs by proving quality of products or services, by speedy work, dependability and flexibility. They manage inventory and use proper resources that save time and money. Theoretical Framework: First of all, Hannan Print makes sure that all the staffs are encouraged and they contribute to the process. Secondly, it examines and improves operations practices on a regular basis. Further more, they monitor and improve service quality which they provide to customers. Not only that, but they are also working hard to replace the product as per customer’s requirements in order to save time and cost. Lastly with a view to provide faster and safer service the company working very hard to keep the premises clean and tidy all the time particularly the storage area as it is the part form where the goods are delivered. The company has good arrangement of working departments. For example they have packing and despatching department so close that they can transfer the goods in between those department very easily. This is the time saving and cost saving approach adopted by the company. Supply chain management and inventory management are also important parts of operation management. Supply chian management is the management that assists in finding solutions, grabbingShow MoreRelatedOperation Management--Ikea1925 Words   |  8 PagesIKEA History and Company Information IKEA retailing with its Sweedish roots, is based on a franchise system. Inter Ikea system BV is located in Delft, the Netherland being the owner and franchiser of the concept IKEA. (www.ikea.com) The company aims to sell furnitures for 10 to 30 percent less then other stores ( source - stevension ). Every Ikea employee still follows the vision quotes of Ingvar Kampard to create a better everyday life for many people. During 2010 global sales as reportedRead MoreOperation Management on Ikea1851 Words   |  8 Pagesobjective of writing this report is to identity and analyzes operation system applied in IKEA, the well-known low cost yet high quality home of furnishing. Function, process and strategy of IKEA operation system will be accessed to identity the core competency that lead to the successfulness of IKEA in the world. Besides, other purpose in complete this report is to analyze the strength and weakness of operation system in IKEA. Operation management is procedure where processes of production or deliver goodsRead MoreOperation Management Ikea6167 Words   |  25 Pagesfollowing assignment is based on operations managements within IKAE. The aim of this unit is to analyse the operations functions within the organisation by understanding strategic operations management, the operations process and planning and control. â€Å"Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. 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Introduction At the outset, it may be useful to characterise IKEA in terms of the characteristics of demand (also known as the four Vs, see Slack et al. p 20). First, IKEA is clearly a high volume operation – as indeed most international retailers are – which lendsRead MoreIkea Operations Management3070 Words   |  13 Pageshttp://fp05-527.web.dircon.net/ikea_company_profile.html Profile: ikea IKEA is the world’s most successful mass-market retailer, selling Scandinavian-style home furnishings and other house goods in 230 stores in 33 countries and hosting 410 million shoppers per year. An acronym for founder Ingvar Kamprad and his boyhood home of Elmtaryd, Agunnaryd, IKEA began operating in Sweden in 1943 and continues its original ethos based upon cost obsession fused with design culture. 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This results in increased operations efficiency, which is discussed within this business report. Strategic role of management - Cost leadership Cost leadership: Cost leadershipRead MoreIkea s Market Tool For The Retail Giant Essay970 Words   |  4 PagesIntroduction: IKEA is a multinational group of companies, specialized in designs and sells home furniture (ready to assemble). They also sell accessories, bathroom kitchen items and lately they have offered food market in their retail stores around the world. It was founded by Ingvar Kamprad who born in southern Sweden in 1926 and who was listed as one of the world s richest people in 2013. The company is known by its modern (simplicity) design, cost control, operation details and continues productRead MoreCase Study : Global Enterprise Ikea1392 Words   |  6 Pagesenterprise IKEA has expanded from its humble beginning in Älmhult, Sweden to become the world’s largest home furnishings retailer with 393 stores worldwide and 915 million visitors annually. IKEA’s simplistic vision inspired by its Swedishness aims to provide as many people as possible with affordable, well designed, high quality, functional home furnishings that impress consumers, competitors and companies alike. T his philosophy has resulted in very effective and efficient operations due to IKEA’s

Happiness Is A Feeling Or Feeling Of Accomplishment

What is happiness? A feeling or euphoria or a feeling of accomplishment, perhaps both? Is happiness something we can create or something that appears to us when we need it most? I feel that happiness is something that is unique to each person. What fills me with inner joy might not for others and vice versa. Happiness is subjective, but one thing I think everyone will find is that a part of their happiness is found in growing as a person. Life begins at the end of your comfort zone and maybe happiness is found there too! For me, happiness is best achieved when I am growing as a person. Working through obstacles that have come up in my path, expanding my horizons through meeting new people, or learning something new in a class. I have come to see that when I push myself out of my comfort zone (physically or emotionally), this is where I find happiness. Reaching the edge of your comfort zone can be done through many things. One example of when I have felt truly happy is during travels. 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Rebirth of Art, Religion and Education in Europe Free Essays

The â€Å"rebirth† of art, religion, and education in Europe is known as the Renaissance. During this time of rebirth, Renaissance thinkers dismissed the medieval period as a dark age of worthlessness. Instead, a style of classical age inspired a respect for order, perspective, proportion, and principles to the artist’s work. We will write a custom essay sample on Rebirth of Art, Religion and Education in Europe or any similar topic only for you Order Now The Renaissance also had a time of rebirth in people’s religion and beliefs. The people became closer to God and began to worship Him in their own ways. There was a drastic change in education during this time also. A push for the citizen to become ducated became a big deal. Books were given out, any many libraries were developed in an attempt to educate their people(Bowman 325-330). The Renaissance truly changed the art work, religion, and education throughout Europe. The European art emerged from its medieval precedents during the course of the thirteenth century. Before this time European art work were based on fixed, conventional forms art. This showed figures as stiff and flat; it showed the objects as unrealistic and lifeless. The artwork did not show great detail. Landscapes were decorative but unrealistic. The artist no longer worked only on small paintings but broadened his work to masterpieces. Masterpieces would be a piece of art that sometime would take an artist his whole life to complete. Their masterpieces would be placed in cathedrals, on buildings and would cover entire walls and ceilings. Many of the paintings would tell a story, often from the Bible. The artist would spend years working to finish his masterpieces. Often he would die before completing the paintings all the The status of artists rose as they began to work more for nobility and the wealthy. No longer anonymous, artists developed personal styles and experimented adventurously with new techniques(â€Å"Renaissance† 1989). The use of color also was changed through the Renaissance. Europe was going through a time of dark colors and lifeless paintings. Scholars of this time knew that the color and paintings had to be changed. They knew that the painting had to liven up. They chose to develop new colors, colors that were brighter and full of life. The artist chose colors that would draw attention to their They also knew that they should adopt techniques to ake their work more realistic looking. Techniques such as perspective, proportion, and size was adopted. They would make their paintings appear as you would see them in real life, as if you were looking at the object not a The artwork that was produced took massive amounts of time. The artist would complete very few amounts of large jobs in his life time. Often a job would be to paint a cathedral. This included the ceilings, altar, walls, and the floor. The artist would spend countless years completing his job to perfection(Murray and Murray 12-14). The artwork was spread throughout Europe by paintings, sculptures and buildings. Artist would be well-known for their paintings. A patron would hire an artist and ask him to create a series of paintings or sculptures. The artist would be paid a great deal if he was loyal and worked hard for his patron(Murray and Murray 14). Artwork went trough a great change, but this wouldn’t be the only perspective that would be changed during the Renaissance. Religion also changed a great deal during the Renaissance. During the Dark Ages, which was the time eriod directly before the Renaissance, people began to drift away from Christianity. The Dark Ages sent many people into a time of depression. Artists sought ways to help people in their religious quest. They often would center their work around a religious theme. Their works would tell of Bible stories or pictures from the Bible. Religion became popular throughout Europe, and people began to worship on a regular basis. They would often visit the cathedrals many times a day to pray. People began to have a new respect for religion through artwork, writing, and song(â€Å"Renaissance† 1999). The cathedrals were really important to the people of Europe. The cathedrals were a magnificent sight to the people, and they thought that they cathedrals were a main part of worship. They often had lectures based on the stories that were told on the walls, floors, and ceilings of the cathedrals. The cathedrals were kept open by donations from families, similar to the offertory given in today’s society. Many of the families had a pew in the cathedrals dedicated to their families. The cathedrals were a main part of the worship of the people during this time(â€Å"Renaissance† 1999). Education also changed a great deal during the Renaissance. Books were written by authors during the Dark Ages, but to publish them one had to write the entire book over and over again because there was not a way in which to make copies easily. The Renaissance would change this forever. The scholars knew that to educate people, one had to come up with a way to distribute books. To write them over took too much time, and they needed a quicker and more effective way. The printing press was soon adopted by the people. In printing press, the letters in the book were laced on wooden blocks and a page was laid on the table. After all the letters formed all the words and were in place, the next occurred. Printers would then pour ink onto the blocks and stamp the pages. The words would be printed out on the page. After this was repeated for all the pages, they were gathered and bound together in a book. This made books become more popular and affordable by common people. Through this, libraries were formed, and people could obtain books easier. This allowed people to become more educated and literate(â€Å"Renaissance† 1999). The Renaissance was indeed a remarkable time period throughout Europe. It changed Europe a great deal and will be remembered throughout the future. Europe was suffering before this period and was in desperate need of a reformation. The Renaissance gave Europe just what it needed, a rebirth. Art work, religion, and education thrived through this period. The paintings and sculptures, in particular, were remarkable and illustrate great talent, â€Å"Renaissance is a word which is generally understood, but which few people would care to define very closely† (Murray 7). How to cite Rebirth of Art, Religion and Education in Europe, Papers

Current Factors and Risks Affecting Wallis Drilling

Question: Discuss about the Current Factors and Risks Affecting Wallis Drilling. Answer: Introduction Wallis Drilling Company is among the top companies in the world that have been providing drilling services for mining of minerals. Wallis Drilling has been operating for 52 years. Wallis Drilling is a private company that has the most efficient and advanced machines that can work on any terrain in Australia and other international countries (Wallis Company 2015, par. 1). With a sufficient number of competent employees, the services offered are world class. Even though returns are promising, there are some risks that are associated with Wallis Drilling that is significant for the survival of the company. Wallis Drilling company is affected by some international risks; the risks include; commercial risk, cross-cultural risk, country risk and the currency risk. Application of the theory to Wallis Drilling Commercial risk revolves around operational problems that are the issues that are associated with the day to day activities of the company. The operational problems may be the lack of liquid cash or the inability to settle the creditors. The other issue associated with commercial risk is the aspect of timing. A business may enter into an international trade at a time that the economic conditions are straining and thus little profits are earned at the end. In addition, the competition may be very stiff from the already progressed competitors thus making it extremely hard for the company that has not adopted some specific procedures (Burgess-Limerick 2010, p. 53).Lastly, a company may have adopted a strategy that is imperative for its for survival, but poor implementation of the strategy due to factors such as an incapable management can pose a great threat to companies such as Wallis Drilling. Currency risk is another problem that affects Drilling Company. The fact that most of such companies operate internationally is a major factor. Companies need to import or export machinery and equipment for their operations (Tenfelde 2016, p. 5). The prices of the drilling rigs are affected by the currency exchange rate in the international market. There are times that a company may fetch more or less in the same market. The fluctuation in prices of the commodities leads to losses. Currency risks are uncontrollable for they are influenced by externalities or economic conditions. Losses are the greatest worry for Wallis Drilling because of the instances of inflation and international taxation. Country risk majorly revolves around the current situations in the operating country. Companies that are operating internationally face the problems of unstable countries. When there is war in a country, there is no way that a company can be able to carry out its activities normally. The employees will fear for their lives, and thus the operations must be ceased until peace is restored (Tenfelde 2016, p. 7). Economic conditions in a country are also a factor of concern. A country that the company has got a contract in is influenced by factors such as inflation and the ability of the company to honor the terms of the contract like payment of the fee required. Country risk affects some profits and the efficiency of operations. Lastly, a cross-cultural risk is depicted by the factors that are associated with interacting with new people. Most of the time, they interact with individuals that have different approaches to their way of living and decision making. The cultural differences greatly affect the rate at which employees are operating internationally get to adapt to the environment that they are operating in. Negotiation styles may also be different, and thus it may take some time before a contract is fully settled. Conversely, the disparities in the ethical standards may be a factor of concern. If the ethical standards are different, then disagreements may be experienced, and this could reduce the number of contracts attained. Justification of the risks affecting Wallis Drilling Wallis Drilling is a victim of the risks that are associated with international trade. To begin with, Wallis Company employees have experienced difficulties in mingling with different cultures, sometimes the employees have been received with hostility or failed to blend their culture with that of the host country (Boomhower 2014, p.12). It becomes difficult to work in a condition that you are not conversant with. Most of the employees have left the company because of the unconducive working environment. Losing skilled employees to the rival company creates a very stiff competition that most of the time puts a strain on the limited resources available in the company. Also, Wallis Drilling Company has experienced losses due to the low prices of iron in the market. Since the decline of the iron prices due to economic conditions, the operation costs have not been compensated by the expected profits. When the prices for the minerals reduce, most of the mining sites have to be closed by the managing companies. Wallis Drilling has to wait until the prices of the minerals appreciate. Operating internationally has called for sensitiveness when it comes to the foreign exchange rates. For Wallis drilling, they have the threat of experiencing losses when they export or import their drilling rigs (Burgess-Limerick 2010, p. 51).The prices of the equipment are affected by the international economic factors that are beyond the control of the company. Lastly, the inability to pay its creditors the amount they owe them when time elapses. It is certain that Wallis Company being a large company it has various needs that must be allocated to enough resources. To fund its activities, most of the time, the company has to borrow from lenders. In the case that a mine is closed down because of reasons such as low prices in the international market, it becomes tough to honor the promises that were made to the creditors. Wallis Drilling Company thus has the risk of being bankrupt or liquidated by the creditors in case it is unable to honor its creditors (Boomhower 2014, p.78). References Boomhower, J 2014, Drilling like there's no tomorrow: Bankruptcy, insurance, and Environmental risk. EI@ Haas Working Paper, 254. Burgess-Limerick, R, Krupenia, V, Zupanc, C, Wallis, G Steiner, L 2010. Reducing Control selection errors associated with underground bolting equipment, Applied Ergonomics, vol. 41, no.3 pp.549-555. Tenfelde, AM., Esquivel, AO, Cracchiolo, AM, and Lemos, SE, 2016,Temperature change when drilling near the distal femoral physis in a skeletally immature ovine model, Journal of Pediatric Orthopaedics, vol. 36, no.7, pp.762-767. Wallis Drilling. A Deeper Understanding, viewed 16 March 2017, https://www.wallisdrilling.com.au/