Coursework Header Sheet 234363-266 Course OPER1027: Operations Mngt: Proc/Value Ch Course School/Level B/UG Coursework Coursework 3 Assessment Weight 60.00% Tutor J Whiteley Submission Deadline 03/04/2017 Coursework is receipted on the understanding that it is the student's own work and that it has not, in whole or part, been presented elsewhere for assessment. Where material has been used from other sources it has been properly acknowledged in accordance with the University's Regulations regarding Cheating and Plagiarism. 000884420 Tutor's comments Grade Awarded___________ For Office Use Only__________ Final Grade_________ Moderation required: yes/no Tutor______________________ Date _______________Coursework 3 Individual Assignment PART A – PORTFOLIO Reflecting on our experience is a critical evaluation for all experts to grow better communications aptitudes, strife determination and improve future execution. To think back on our assignment, that was based on a group work, has permitted us to take interest understanding numerous skills in our manufacturing industry. This paper will reflect upon the parts which I have done and why I chose those suggestions and how they were used and why they were not used. The first and the foremost thing I did before starting the assignment was to read the instructions carefully and to choose the topics in which I was quite confident and had some previous knowledge. I chose two particular topics to work upon. i.e.- “risk management and mitigation” and “inventory management” as well as I have had my minimal contributions towards other topics. For “risk management and mitigation” I was required to talk about the risk factors effecting business environment along with solution of how to manage the situations to minimise the impact on both the customers as well as the organisation. We also given with some of the scenarios like- “if Heathrow Airport is closed by bad weather, will/how will you satisfy orders and how shall we deal with an unfriendly media”. While thinking of the various factors which can affect a floweriest business, the first thing which came in my mind was that the company can deal with external forces like- natural disasters which can destroy the farms, to overcome with this problem I suggested the farmers to use specialised detachable plastic shelters to protect the farms during heavy rainfall (Rakesh Belwal, 2008) . The shelter will also perform the function of rain water harvesting as it also collects the rain water which can be further used in the farm for watering the plants. Things like delay in flight due to bad weather can lead to delays in delivery which can disappoint the customers in return of which the customers can review negative feedbacks on our website or on any social media site. To minimise the criticism, I suggested the company to revert the clienteles with the reason of the failure and ensuring them with better services in future. In addition, gifts or discounts can also be distributed to the customers to minimise their disappointment. For instance, Sony PlayStation was hit by hackers andcustomers were greeted with the message that said “page not found”, in this case Sony kept their customers updated with the on-going problems and made sure that they would come up with the solution as soon as possible. Once they resolved the solution, they offered their customers special discounts and games points to win customers back (BBC, 2014). For delays in flight, initially, I had many thoughts going on my mind likeholding the stock for the time of crises but then I realised that we needed to provide fresh blooms to our customers and if we hold the stock for too long then it could result in the deliverance of poor quality which could further ruin the goodwill of the company in the market. So, I decided not to suggest this solution to the company. After completing this topic, I emailed this to my group mates so that they can review my work and after their approval I moved on to another topic i.e.- “inventory management” I had to think about strategies and other ways to manage the inventory in an efficient and effective way due to short shelf life of the flowers. So, to speed up the process I suggested “just in time” method. (K. van Donselaar, 2006), explained It is a method in supply chain management that produces necessary quantities at necessary time. Applying this kind of technique for “Ready Flowers” is effective as it allows the flowers to maintain its better quality as well as helps it to stay fresh. This is because flowers have a short shelf life and Just in Time method helps maintaining the quality of the flowers. In addition, it allows companies to stock right flowers at the right time in order to meet its demand. Another inventory management strategy which I suggested, includes material requirement planning (MRP), which arranges material deliveries based on sales forecasts. (Moustakis, 2000, p. 2), explains Material Requirements Planning is a time phased priority-planning technique that calculates material requirements and schedules supply to meet demand across all products and parts in one or more plants. (Deniz Balci, 2007), further suggested by balancing both JIT and MRP methods, Ready Flowers will enable to monitor the availability of resources on their end as well as customers demand on the retailer’s end. Also, it will allow the company to have accurate sales forecast to enable precise planning of inventory needs and to discuss those requirements with materials suppliers in a timely manner. For instance, it will allow Ready Flowers to estimate their demand in advance for peak seasons like valentine’s day and Mother’s Day, so that it doesn’t lead to excessive storage of stock and have inventory go to waste. Furthermore, (Tyson, 1998) stated, “Competition will turn out to be much more serious in the 21st century than it is today”. Indeed, competition has turned outto be much more intense and industries have changed radically. As we have pushed ahead from the Information Age to the Intelligence Age or technological age, success has reached to those organizations that construct a learning base about their competitive environment and a perpetual methodology procedure to keep it persistently updated. (Issam Moussaoui, 2016), defines perpetual inventory as a method of accounting for inventory that records purchases and sales of stock instantly through the use of computerised sales system and EAM (Enterprise Asset Management) software. Correspondingly, I suggested that a company like Ready Flowers should install this type of software to have access to highly detailed sight of variations in inventory with instance reporting of quantity of inventory in stock, and precisely study the level of stock in hand. A perpetual inventory framework would be better to use than the older periodic stock frameworks since it considers quick following of offers and stock levels for individual things, which anticipates stock-outs. Thus, giving Ready Flowers a competitive advantage over other manufacturers who manually balance the endless inventory records. However, most competitors in today’s world would have the computerised system to look after their stock recordings. So ‘Ready Flowers’ should also consider installing the following software to be in control of their competition. I suggested the organisation to practise computerized stock management system. The system holds data of our clients, the kind of flowers they want, the number of flowers, price and the location of the stock in the warehouse. Whenever any client goes onto our website or app, the computerised system instantly sends the data to the control room which is affirmed to the client. Then the client just need to select the quantity and the type of flowers, the framework then connects to the distribution centre to get and dispatch the request. The system even computes the location of stock in the warehouse which makes it easier for the warehouse workers to locate or shelfing the stock. I also suggested the organisation to use “two bin system”. In which, the warehouse will be divided into two sections. In one section, there are items which are currently in use and ready to leave. And in the other section of the warehouse we keep those goods which are being replaced or re-ordered. And the details of reordered products (quantity, type of flower, price, customers’ details etc.) is updated to the system automatically as soon as the customer click on replacement of order. The customers can also contact to our 24-hour helpline service for any queries which they may have, also they will keep records of our stock and customers. Before suggesting two bin system, I wanted the company to practice three bin system in which the ware house will be divided into three sections. In onesection, there are items which are currently in use and ready to leave. In section two, the company will keep reordered goods and in section three the company will hold the stock for the time of crisis. But it won’t be possible in the flower business to hold the stock as the customers’ demands fresh flowers. Because of this reason, I suggested two bin system. By accomplishing these tasks, I got to learn about various risks factors effecting business environment and how to deal with different situations or factors. And at the same time, I also learned about managing stock or inventory effectively and efficiently. and I am thankful to my tutor who encouraged me to do this and let us practice working in groups. PART -B REFLECTIVE REPORT This report is an intellectual outcome of our group’s strategies for success for " ready flowers". The aim behind this reflective report is to express how we as a group functioned while undertaking the venture. The purpose of composing this report is to incorporate my considerations and responses to the experience. The reflective report is an individual record of my learning encounters. I have been made a request to compose an individual reflective report on my task that ought to comprise of my basic state of mind in an investigative way. It has been composed to ponder my work which will permit the readers to comprehend my accomplishment being an individual from a group and my part as a specialist, analyser, columnist and so on.. I attempted to be as particular as conceivable as this report is an influential exposition contending in the interest of myself. It incorporates where my motivation originates from, how I made utilization of my thoughts to build up my work and my attention to the setting in which I prefer to work. This intelligent exposition is an individual report that has depicted my work in light of the strategies for success and arrangements that I have taken an interest in. I was supposed to perform in a group of four individuals to assemble a marketable strategy with respect to a floweriest company "Ready Flowers". My colleagues for this task were Tom, Sharuf and Abdi. In this report, we highlighted and broke down each and every element fundamental for assembling business. We considered operation strategy, designing of operations production and service network, capacity planning, inventory management, forecasting and demand planning, logistics and transport, quality, risk management and mitigation, sustainability, business ethics and international market entry strategy. In thisreport, I have unbiasedly portrayed what happened, I attempted to Interpret the occasions clarifying what I saw and listened, my bits of knowledge, my associations with other taking in, my theories and my decisions. I additionally assessed the adequacy and effectiveness of what was examined. In this report, I have portrayed how I handled group issues, translated my part as a colleague, what did I learn being a colleague and how I dealt with the difficulties. Other than critical thinking I have recorded and shared information and conception of applicable hypotheses, mix of what might I do any other way next time, thinking how the workshops/group-meetings built up my review? I have been made a request to mirror an investigation, considering parts of my technique detailing and clarifying how I based upon and connected learning from instructed modules. I performed in a group of four individuals to fabricate a strategy for success with respect to ‘Ready Flowers". My colleagues for this task were Tom, Sharuf and Abdi. In spite of the fact that I needed to be in a group of my close companions, the tutor designated groups haphazardly and place me in a group of four. Fortunately, I as of now have close friendship with one of the group member and I knew him as he was in one of my groups earlier for a different coursework. At first I had complaints with the tutors' choice of distribution, however, slowly I got along with my groupmates well. I started feeling friendly and eager being in this group. Representing different societies and backgrounds, as a student, we came across few issues yet we figured out the ways to manage all these issues graciously. Each of the differences were settled and we cooperated congruously. I assembled everybody for a conference to know each other and examine tasks closely. According to me, working casually and in a friendly environment will help us to perform the tasks easily. In the meetings, the plans were talked about and thoughts were rotated. I additionally set forward my considerations and arrangements. We characterized our parts as indicated by our qualities in branches of knowledge, the topics were divided individually. My group set its norms of morals and practices to accomplish positive cooperative energy and to make powerful condition. I additionally persuaded them to work intently and remain in steady contact. Despite the fact that we needed to work exclusively on our tasks yet I teamed up to help other people in their work and the other way around. I have learnt that group is more fruitful when individuals inside it can make cooperative energy. Since our objectives were bigger than any individual, cooperation was required. At the point when we knew how to be more compelling together, collaboration happened and more prominent hierarchical achievement was accomplished. I have additionally comprehended thesignificance of collaboration. I considered each colleague critical as every individual brought special aptitudes, learning, and experience. Colleagues likewise brought vitality, enthusiasm, and assurance. Since, not everybody brings diverse measures of these things, that is why colleagues required each other. Expanding the quality of each team mate created more noteworthy group achievement and results. I alongside my colleagues moved toward every issues unquestionably as I was already aware of our aggregate qualities could handle any issue we confronted. By leading an assignment as a group, I felt that there is undoubtedly group suggestion is relevant to each other. I was sure to relate the examination and the hypothesis I have contemplated amid my course. The most essential thing I have picked up by learning is working in a group. In the further phases of the project, coordination among colleagues expanded significantly. This aided in enhancing and cleaning of our relational abilities. We discovered that everybody can perform their own tasks to work on a shared objective. However, diverse tasks were allocated to team mates and I stayed in consistent contact with each other and counselled on each possible event. This additionally helped me learn and comprehend their approach also. It helped me in research approach, how to check diverse sources and how to inquire about. I have figured out how to examine the market and potential clients before entering the market. I comprehended the market examination for business is to check the practicality and the absorbance of item in the market and to comprehend the patterns and conduct of the customers in market and to apply methodologies appropriately. This gave significant and solid data. I contemplated to complete market examination; found out about market size and estimate; its patterns environment. This strategy for success likewise helped me in anticipating financial position and reports alongside learning of staffing and resourcing for business. APPENDIX Copy of the work I didRISK MANAGEMENT(Dey, 2016), defined business environment as a sum total of all individuals or institutions and other forces that are outside the control of a business enterprise but that may affect its performance. (Jay van Wyk, 2004), further described its relation with risk management which involves tracking market and non-market long range risks, recognising their adverse impact on the business environment, and managerial responses to minimise these risks. A floral supplier today is a risky business, depending highly on seasonal sales. In the United Kingdom, alone valentine’s day generates 35 percent of seasonal revenues, with sales condensed into a few days, supplier must have a plan of action to survive. Flexibility is needed from these suppliers to scale up their business to accommodate seasonal sales, while still keeping themselves above the surface in off seasons. Still, even with the most appropriate plans, there is a possibility of failure. Ready Flowers can also deal with some external forces like bad weather or natural disasters. In case of heavy rain fall the farmers use a specialised detachable plastic shelters to protect the flowers from destroying (Rakesh Belwal, 2008) . The shelters also collects the rain water which can be further used in the farms. However, bad weather could also result in delays, for example- if Heathrow airport is closed due to bad weather conditions, then to satisfy the orders, the company could contact the local farmers, distributors or flower exhibitions. Though it is an expensive procedure to follow, however, it will save the company from losing customers. Things like delays in delivery, bad quality of product, inaccurate products or any other service problems can make the customers disappointed in return of which we may receive some negative feedbacks on our website or consumers can complaint on social media which can affect our brand image. To minimise the criticism, Ready Flowers can revert back to customers with the reason of the failure and ensuring them with better services in future. In addition, gifts or discounts can also be distributed to the customers to minimise their disappointment. For instance, Sony PlayStation was hit by hackers and customers were greeted with the message that said “page not found”, in this case Sony kept their customers updated with the on-going problems and made sure that they would come up with the solution as soon as possible. Once they resolved the solution, they offered their customers special discounts and games points to win customers back (BBC, 2014).Inventory Management (Koumanakos, 2008), defines inventory management, a practice that oversees and control the ordering, storage and use of components that a firm utilize in the production of the items it sells. (K. van Donselaar, 2006), further explained that inventory management is a route in which businesses utilizes creative thinking in order to achieve its target, which is in most cases is to maximise space as well as utilize its capacity to the maximum potential. The author further stated that “Just in Time” is one of the best ways to achieve its inventory targets. It is a method in supply chain management that produces necessary quantities at necessary time. Applying this kind of technique for “Ready Flowers” is effective as it allows the flowers to maintain its better quality as well as helps it to stay fresh. This is because flowers have a short shelf life and Just in Time method helps maintaining the quality of the flowers. In addition, it allows companies to stock right flowers at the right time in order to meet its demand. Another inventory management strategy includes material requirement planning (MRP), which arranges material deliveries based on sales forecasts. (Moustakis, 2000, p. 2), explains Material Requirements Planning is a time phased priority-planning technique that calculates material requirements and schedules supply to meet demand across all products and parts in one or more plants. (Deniz Balci, 2007), further suggested by balancing both JIT and MRP methods, Ready Flowers will enable to monitor the availability of resources on their end as well as customers demand on the retailer’s end. Also, it will allow the company to have accurate sales forecast to enable precise planning of inventory needs and to discuss those requirements with materials suppliers in a timely manner. For instance, it will allow Ready Flowers to estimate their demand in advance for peak seasons like valentine’s day and Mother’s Day, so that it doesn’t lead to excessive storage of stock and have inventory go to waste. Furthermore, (Tyson, 1998) stated, “Competition will turn out to be much more serious in the 21st century than it is today”. Indeed, competition has turned out to be much more intense and industries have changed radically. As we have pushed ahead from the Information Age to the Intelligence Age or technological age, success has reached to those organizations that construct a learning base about their competitive environment and a perpetual methodology procedure to keep it persistently updated. (Issam Moussaoui, 2016), defines perpetual inventory as a method of accounting for inventory that records purchases and sales of stock instantly through the use of computerised sales system and EAM (Enterprise Asset Management) software. Correspondingly, a company like Ready Flowers should install this type of software to have access to highlydetailed sight of variations in inventory with instance reporting of quantity of inventory in stock, and precisely study the level of stock in hand. A perpetual inventory framework is better than the older periodic stock frameworks since it considers quick following of offers and stock levels for individual things, which anticipates stock-outs. Thus giving Ready Flowers a competitive advantage over other manufacturers who manually balance the endless inventory records. However, most competitors in today’s world would have the computerised system to look after their stock recordings. So ‘Ready Flowers’ should also consider installing the following software to be in control of their competition. The organization practice computerized stock management system. The system holds data of our clients, the kind of flowers they want, the number of flowers, price and the location of the stock in the warehouse. Whenever any client goes onto our website or app, the computerised system instantly sends the data to the control room which is affirmed to the client. Then the client just need to select the quantity and the type of flowers, the framework then connects to the distribution centre to get and dispatch the request. The system even computes the location of stock in the warehouse which makes it easier for the warehouse workers to locate or shelfing the stock. Figure 9 - Two-Bin System We will be using the two bin system (see figure 9). The warehouse is divided into two sections. In one section there are items which are currently in use andready to leave. And in the other section of the warehouse we keep those goods which are being replaced or re-ordered. And the details of reordered products (quantity, type of flower, price, customers’ details etc.) is updated to the system automatically as soon as the customer click on replacement of order. The customers can also contact to our 24-hour helpline service for any queries which they may have, also they will keep records of our stock and customers. SCREENSHORTS OF CONVERSATIONS AND SHARED DOCUMENTS VIA EMAIL -SCREENSHORTS OF SOME WHATSAPP GROUP CONVERSATIONSBibliography BBC. (2014). Sony's PlayStation hit by hack attack. BBC. Dey, S. (2016). Business Studies . New Delhi: Geeta Publisher Ltd. Jay van Wyk, W. D. (2004). Risk management and the business enviroment in South Africa. Elsevier: Research Gate, 259-276. Rakesh Belwal, M. C. (2008). Catalysts and barriers to cut flower exportA case study of Ethiopian floriculture industry. Emerald: International Journal of Emerging Markets, 216-235. Deniz Balci, S. E. (2007). Adaptability of Just-in-time (JIT) Philosophy to Service Systems: A Case Study . Sage Journals, 631-642. Issam Moussaoui, B. D. (2016). Drivers of retail on-shelf availability: Systematic review, critical assessment, and reflections on the road ahead. Emerald: International Journal of Physical Distribution & Logistics Management, 516-535. K. van Donselaar, ,. T. (2006). Inventory control of perishables in supermarkets. International Journal of Production Economics: Elsevier, 462-472. Koumanakos, D. P. (2008). The effect of inventory management on firm performance. Emerald, 355-369. Moustakis, V. (2000). MATERIAL REQUIRMENT PLANNING. INNOREGIO project. Tyson, K. W. (1998). Perpetual strategy a 21st century essential. Emerald: Strategy & Leadership, 14-18. .