I need examples of the following and i'll do them over.
1.Assume you are employed at a manufacturing firm in a country district.
a.List the business activities that would be carried on by the firm
and
2.Describe the role of the office in relation to any One of the activities.
3.State one method of control you would use.
Thank-You!
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Do you really think that 20 minutes is too long to wait for volunteers to help you with your assignment?
1. If you are employed at a manufacturing firm in a country district, here are some examples of business activities that would typically be carried out by the firm:
- Production: Manufacturing the products or goods that the firm is responsible for.
- Supply chain management: Ensuring the raw materials required for production are sourced and delivered on time.
- Quality control: Inspecting and testing the finished products to ensure they meet the required quality standards.
- Inventory management: Keeping track of the stock levels and managing the storage and distribution of products.
- Marketing and sales: Promoting and selling the products to customers through various channels.
- Customer service: Providing assistance and support to customers before and after they have purchased the products.
- Financial management: Monitoring and managing the firm's financial activities, including budgeting, forecasting, and financial analysis.
2. Now, let's focus on describing the role of the office in relation to one of the activities. For this example, let's consider the role of the office in inventory management.
Inventory management involves keeping track of the stock levels and ensuring the right products are available when needed. The role of the office in inventory management includes:
- Recording and tracking inventory: The office maintains a record of all the products in stock, including their quantity, location, and various other details. This information is crucial for effectively managing inventory and facilitating the fulfillment of orders.
- Inventory planning and forecasting: The office analyzes historical data, market trends, and customer demands to forecast the future demand for products. Based on these forecasts, they plan the procurement and production of inventory to meet customer needs.
- Replenishment and ordering: The office is responsible for placing orders with suppliers or initiating the production of new products to replenish stock when it falls below a certain threshold. They ensure that the stock levels are always maintained to avoid any disruptions in the manufacturing process or delay in fulfilling customer orders.
- Communication and coordination: The office communicates with different departments, such as production, procurement, and sales, to ascertain their inventory requirements and coordinate the timely delivery of products. This ensures smooth operations and minimizes the risk of stockouts or excess inventory.
3. Now, let's discuss a method of control you could use in your role. One effective method of control in inventory management is implementing a Just-in-Time (JIT) system.
Just-in-Time (JIT) is a method that aims to minimize inventory levels while ensuring timely availability of products. Here's how you can implement JIT in inventory management:
- Streamline the supply chain: Identify and establish strong relationships with reliable suppliers who can quickly deliver the required materials for production. This reduces the need for excessive inventory storage.
- Forecast demand accurately: Utilize historical data, market trends, and customer demand patterns to forecast the future demand for products as accurately as possible. This helps avoid overproduction or stockouts.
- Optimize production processes: Implement efficient production techniques such as lean manufacturing to reduce or eliminate waste, decrease lead times, and improve overall production efficiency.
- Collaborate with suppliers: Foster collaboration with suppliers by sharing demand forecasts and production plans. This helps suppliers align their production with your requirements, ensuring timely delivery and reduced reliance on excess inventory.
By implementing JIT, you can control inventory levels more effectively, reduce carrying costs, avoid wastage, and improve overall efficiency in your manufacturing firm's operations.