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Operations Management function
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Operation Management Module: Discuss how the Operations Management function(operation& productivity, forecasting, project management, inventory management, operation scheduling, statistical process control & managing operation layout) can contribute to the success of the organization. The discussion should be supported by examples....Solution Preview:
Operation management is the business function mainly responsible to manage the process of producing products and services. It consists of planning, coordinating, organizing and controlling the resources required for the production of the company's products and services. The management of all the operations enables an organization to increase its productivity and efficiency. Operation management involves managing equipment, information, technology, people and other resources. Productivity is considered to be a major concern for managers because high productivity is necessary in order to survive in the current market environment. Productivity can be of two types that are partial and total productivity.This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.
This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.
