Introducing 

Prezi AI.

Your new presentation assistant.

Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.

Loading content…
Loading…
Transcript

Managing Inventory

Techniques to increase productivity

small and large businesses must find better ways to reduce their utility bills and costs without sacrificing growth.

2. Improving Production.

HOW?

- Inventory:

Raw materials, work-in-process goods, and complete goods that are considered part of a business’s assets that the business holds for the purpose of selling.

by taking time to understand which activities drive value ,and which activities do or could make the organization competitively distinctive.

Organizations should invest in value-creating activities and cut costs in others while meeting clear financial goals in a set time frame

To increase profitability of organization, you have to improve productivity within the workplace of the business.

important ways to reduce costs without decreasing efficiency that business owners should consider :

Five suggested steps of inventory management:

Cutting cost where possible without decreasing efficiency

1. Use an inventory program for accounting.

2. Keep less inventory on hand.

3. Back up the program.

4. Accurately track inventory.

5. Identify priorities.

- Inventory management:

“Activities employed in maintaining the optimum number or amount of each inventory item”. It is the process of efficiently supervising the constant flow of goods and raw materials into and out of a company’s existing inventory.

Productivity and production management is the art of conducting and directing, through the application of frameworks and techniques, all aspects and operations of developing, creating, and innovating products.

1-Utility bills.

2-Small places and steps that save a lot of money

3- Meetings with employees:.

4-Standardization

5-Borrow From the Big Guys

6-Outsource technology

7-Hiring Right the First Time:

8-Training Employees in Essential Skills: .

9-Try Telecommuting

* Technology:

The use of technology is required in the production process

* Labor aspect:

Human labor or capital has huge contribution in the improvement of an organization's productivity

* Training, skills, and education:

Continues training, good levels of education and skill of workers may also be a solution on how to improve productivity

* Motivation and Working conditions:

When an employee is motivated and happy in his work, chances for him being productive is essentially high.

*Forecasting:

To improve productivity and production management, organizations should use forecasts on demand to prepare production plans.

* Standardization:

A necessary foundation on which innovations can be focused.

* Collaboration:

Another way to improve productivity and production management is keeping managers with workers awake to the factors that constitute problems regarding quality, cost and time in the production area

Productivity and production management ultimate goal is to enhance the organization efficiency and to maximize the quality and quantity of goods and services produced.

reducing the cost of delivering service is often the main driver for improving operational efficiency !

The basic principle of business is essentially quite simple, if you deliver services or products which meet your customer’s needs at an acceptable cost.

Conclusion

Trends In Operation Management

Cutting cost where possible without decreasing efficiency

THANK YOU

Efficiency isn’t just about reducing costs; other business objectives, including service quality, still have to be achieved in order to keep existing customers and revenue.

1. Choosing Your Vendors Wisely.

Vendor Management Best Practices

WHY ?

Shatha ALBassam

Shaima ALDughaishem

Sultana AlJunaidel

Aljoharah Alesheikh

Alazouf ALSubaie

a. Analyze the Business Requirements.

b.Vendor Search.

c.Request for Proposal (RFP) and Request for Quotation (RFQ).

1. Vendor Selection.

2.Scrutinize the Prospects.

3.Remain Flexible.

4.Monitor Performance.

5.Communicate Constantly.

TRENDS IN MODERN OPERATION MANAGEMENT

Learn more about creating dynamic, engaging presentations with Prezi