1. INTRODUCTION This report comprises of the explanation of two different companies working in different market fields, the two companies I’ve chosen are Primark and Samsung I am going to write about the influence of the 4vs which are the volume of output, variation in demand for output, visibility of production, and variety of output. I am also going to look at the performance objectives in each of the companies. Example, for a given year and how they are able to reach their objectives, and also the effect on the cost efficiency of the operations. 1.1 The 4vs The volume of out The volume of their operation is important to how their business is organised. Essential to their operation is the repeatability of the tasks their employees are doing as well as the systemisation of the work, where standards and procedures drive the way in which each part of the job is carried out. This combination provides a low cost base. For example McDonalds; are well-known for high volume low cost hamburger and fast food production. The variety of output How many different types of products or services are made by the operation? A very good example to describe the variety of output is the contrast between a taxi and a bus services. Both of this offers appointed transportation services but a taxi services has a v higher variety of output, as that of a taxi that stop to pick and drop you wherever you needed to go. Than that of a bus services that has tameable of where to go and what way is needed to followed. The variety of output and flexibility is high for a taxi and very low for a bus. The visibility of production This refers to the customer’s ability to see and track their experience or the order through the operation’s process. A very high... ... middle of paper ... ...with a return policy’s. Guarantee to their customers. However customers trust both companies.to support the need for high value, operations must be ensure that their production are high of quality and usually undamaged. Flexibility Flexibility is important of firms an operation that enables it to react to their customers quickly and efficiently. Some companies use they two types of flexibility: the customization or the volume flexibility. Customization is usually the ability to satisfy the unique needs of each customer by changing products or services design, with different features, or making them look unique. Primark’s uses both operations. To satisfy their customers need. While volume flexibility is the ability to quicken the rate of their productions to handle large variations in demand.it is usually important for operations. Both companies use both operations.
Nordstrom and Nordstrom Rack are different retail operations in terms of their choice, pricing, store service, and store atmosphere customer intimate firms, which excel in serving the specific needs of the individual customer well. There is less emphasis on efficiency, which is sacrificed for giving more precisely what is wanted by the customer. Reliability is also stressed. Nordstrom is an example of this discipline. Nordstrom must meet some standards of cost-effectiveness. When customers evaluate the quality of a product, they commonly measure it against two kinds of attributes: those related to quality as excellence and those related to the quality of reliability. From a quality as excellence perspective, the important qualities are things such as a product’s design and styling, its aesthetic appeal, its features and functions, the level of service associated with the delivery of the product,
Having prior knowledge of a customers needs, habits, and questions before or during every interaction and transaction can boost customer satisfaction. (Zueschner, Raymond. (1997). Communicating Today. Boston: Allyn and Bacon.
A service firm performance is usually measured in terms of quality. Nevertheless, these performance measurements can also be measured in terms of time, flexibility and cost, and they can also be used by a manufacturing company. In order to analyze the measures, I will divide them to the three main parts of operations, input – process – output:
After a 4 P analysis of the company one found that it found itself in a luxury market where product quality and constant innovation are key points for the success. That is why the production process and its design can take even months. Product line is extensive however it is only conformed of high priced products. Price in this case is a guarantee of the quality present in the product. Moreover, high pricing represent an element of differentiation that the customer appreciates. However this is not a setback, LVMH has managed to have world wide presence and success. To accomplish it its selective retailing division is of high importance. Nevertheless, promotion posses the major challenge since its through this that the image of the product its transmitted that is why the company poses a major part of its budget in this section. It is Important to note that the percentage allocated is higher than those of most competitors.
Inseparability characteristic of a service refers to the fact that services are produced and consumed at the same time. They cannot be separated from their providers, whether the providers are people or machines. The employees of McDonald’s are a part of the service and so are the customers. The two together both influence the service that is being offered. In a restaurant, all customers are present while an individual customer is getting the service and the behaviour of the other customers can determine the satisfaction of the service delivered to that individual customer. The management of McDonald’s make sure that the customers involved in the service do not interfere with each other’s satisfaction. Services are variable and very difficult to control. This is because they greatly depend on who provides the service as well as when, where and how the service is provided. McDonald’s make sure to use quality control in order to provide its customers with consistently good service. McDonald’s hires the right people at the right time to deliver an excellent service to their customers. McDonald’s have a standardised
*Quality is determined by the customer, the customer wants products and services that stand throughout their life, meet his or her own needs and expectations at a cost that represents value.
In today’s marketplace the experience that a customer encounters whilst purchasing a product can be as important as the functionality of that product. Modern consumers are more savvy about products, marketing and required levels of customer service. It would be assumed that the product is functionally sound and has the appropriate desirability. Therefore, the critical factor in satisfying a consumer is the purchase and post purchase experience.
The second way is to achieve low direct and indirect operating costs is gained by offering high volumes of standard products and offering basic no-frills products. Production costs are kept low by using less parts and using standard components. Limiting the number of models produced to ensure larger producti...
Atkinson and Meager’s model of ‘flexible firm’ identifies four types of flexibility that companies seek:
Visual merchandising is a concept of presenting your retail space in an elegant way. It’s a channel for the retail house to create their own distinctive identity to develop a sense of their product’s character and define the themes of their range from its physical contours redefined by visual merchandising.
According to Slack et. al. (2001) the best mechanism for running a business is to match level of demand (goods, services that customers need) with supply of capacity (recourses, labor force that the business inputs in the production process). They also define capacity as “the maximum level of value –added activity over a period of time”. Thus three main factors come into force here – the capacity of resources and labor force, the process operation which itself leads to satisfying customers through matching demand. It is very important to plan and coordinate all 3 factors very effectively because a difference in capacity and performance easily affects: costs, revenues, working capital, flexibility, quality of goods, speed of response and others.
She began to suffer from hair and weight loss as well as the color change of her skin. My mind began to intersect with thoughts of her dying from cancer. I decided negativity would no longer control my thoughts; I had a grandmother who needed me to be strong and think positive about her condition, regardless of the situation and her physical changes. During the time of my grandmother chemotherapy treatments, I would miss school to attend her appointments. As a sophomore in high school, I could only miss a small amount of days before any negative effects displayed toward my grades. Therefore, I would miss school every Tuesday and Thursday for the next four months of my first semester of tenth grade. I didn’t mind because my grandmother meant the world to me and I would have done it a thousand times, if I was given the
Globalization and economic slowdown has made businesses subject to a great deal of uncertainty. In this time of rapid change, economies worldwide change rapidly, new markets open up and old ones change, and demand for products is often uncertain. As such, businesses must be flexible and adaptable in the types of methods that they use...
People are always going to go shopping. A lot of our effort is just: 'How do we make the retail experience a great one? '” - Philip Green
It is more focuses on the process instead of the individual. It acknowledges both internal and external customers, It helps to improve the need for objective data to analyze and the processes.