Unit 26 Principles of Operations Management
Unit 26 Principles of Operations Management
Assignment title Understanding of operations management to improve the effective contribution to achieve
objectives in complex and dynamic business environment.
Elizabeth Cronenburg
Student’sname
List which assessment Pass Merit Distinction
criteria the Assessor has
awarded.
INTERNAL VERIFIER CHECKLIST
• Constructive?
Y/N
• Linked to relevant assessment
criteria? Y/N
Give details:
Internal Verifier
Date
signature
Programme Leader
Date
signature (ifrequired)
Higher Nationals - Summative Assignment Feedback Form
Elizabeth Cronenburg
Student Name/ID
Unit Title Unit 26 : Principles of Operations Management
LO1 Analyse the effectiveness of operations management in contributing to organizational objectives across a
wide range of organisations and sectors.
Pass, Merit & Distinction P1 P2 M1 D1
Descripts
LO2 Apply a range of techniques and analysis frameworks used by operations manager to support decision
making and address problems.
Pass, Merit & Distinction P3 P4 M2 D2
Descripts
LO3 Apply the concept of continuous quality improvement in an operational context
ResubmissionFeedback:
* Please note that grade decisions are provisional. They are only confirmed once internal and external moderation has taken place and grades decisions
have been agreed at the assessment board.
Assignment Feedback
Formative Feedback: Assessor to Student
Action Plan
Summative feedback
Business
Unit 26: Principles of Operations Management
General Guidelines
1. A Cover page or title page – You should always attach a title page to your assignment. Use previous
page as your cover sheet and make sure all the details are accurately filled.
2. Attach this brief as the first section of your assignment.
3. All the assignments should be prepared using a word processing software.
4. All the assignments should be printed on A4 sized papers. Use single side printing.
5. Allow 1” for top, bottom , right margins and 1.25” for the left margin of each page.
1. The font size should be 12 point, and should be in the style of Time New Roman.
2. Use 1.5 line spacing. Justify all paragraphs.
3. Ensure that all the headings are consistent in terms of the font size and font style.
4. Use footer function in the word processor to insert Your Name, Subject, Assignment No, and
Page Number on each page. This is useful if individual sheets become detached for any reason.
5. Use word processing application spell check and grammar check function to help editing your
assignment.
Important Points:
1. Carefully check the hand in date and the instructions given in the assignment. Late submissions
will not be accepted.
2. Ensure that you give yourself enough time to complete the assignment by the due date.
3. Excuses of any nature will not be accepted for failure to hand in the work on time.
4. You must take responsibility for managing your own time effectively.
5. If you are unable to hand in your assignment on time and have valid reasons such as illness, you
may apply (in writing) for an extension.
6. Failure to achieve at least PASS criteria will result in a REFERRAL grade .
7. Non-submission of work without valid reasons will lead to an automatic RE FERRAL. You will
then be asked to complete an alternative assignment.
8. If you use other people’s work or ideas in your assignment, reference them properly using
HARVARD referencing system to avoid plagiarism. You have to provide both in-text citation and
a reference list.
9. If you are proven to be guilty of plagiarism or any academic misconduct, your grade could be
reduced to A REFERRAL or at worst you could be expelled from the course
Student Declaration
I hereby, declare that I know what plagiarism entails, namely to use another’s work and to present it as my
own without attributing the sources in the correct way. I further understand what it means to copy another’s
work.
E17778@esoft.acedemy
Higher National Certificate/Diploma in Business
Assignment Brief
Academic Year
Unit Tutor
Issue Date
Submission Date
Submission format
Section A
The submission should be in the form of an individual written report. This should be written in a concise, formal
business style using single spacing and font size 12. You are required to make use of headings, paragraphs and
subsections as appropriate and all work must be supported with research and referenced using Harvard referencing
system. The recommended word limit is 4000-4500 words, although you will not be penalised for exceeding the
total word limit.
Section B
The submission should be in the form of a 20-minute individual PowerPoint presentation (5 minutes allocated for
questions). The presentation slides and speaker notes should be attached together and submitted as one copy.
You are required to make effective use of PowerPoint headings, bullet points and subsections as appropriate. Your
research should be referenced using Harvard referencing system. The recommended word limit is 1,500 to 2,000
words, including speaker notes, although you will not be penalised for exceeding the total word limit.
LO1 Analyse the effectiveness of operations management in contributing to organizational objectives across a
wide range of organisations and sectors.
LO2 Apply a range of techniques and analysis frameworks used by operations manager to support decision
making and address problems.
LO4 Conduct a Strategic Risk Analysis (SRA) on the operations functions of an organisations.
P1 Analyse the role and M1 Critically analyse the D1 Justify the impact of effective
effectiveness of operations relationship between effective operations management and the use of
management across a range of operations management and operational techniques on achieving
sectors to meet different the achievement of tactical and objectives in complex and dynamic
organisational objectives. strategic business objectives trading environments, making valid
recommendations and solutions
P7 Discuss the role and M4 Assess a range of D4 Critically evaluate the significance of
importance of SRA for an contingency plans and strategic risk analysis for organisations
organisation. strategies available to the operating in diverse and complex
organisation as it seeks to environments.
P8 Undertake a SRA for an manage organisational and
organisation using risk stakeholder risk.
identification and mapping.
Assignment Brief and Guidance:
Section A
Learner is required to select a Sri Lankan manufacturing organization of choice to review, compare
and contrast the operations management principles. Learner now needs to produce a report to be
submitted to the top management of the chosen organization. The report should ideally cover, list of
external factors that impact business operations with the use of PESTEL and SWOT analysis and
proper evaluation on the factors identified also should be provided. Learner is required to figure out
operation constraints placed on business strategy, accessibility of human resources. The management
should be able to determine the budget allocated for resource management and financial positioning
of the organization by looking at the report. Apart from that, it is required to critically discusses the
impact of technological innovations on operational management and how it improves workflows,
company’s sustainability, and efficiency with the application of Enterprise Resource Planning
systems (ERP), Supply Chain Management (SCM), New-Product Development (NPD) and Customer
Relationship Management (CRM). Moreover, the report should indicate evaluation and importance
of the operations process of the organsataion and highlights performance variables including speed,
flexibility, cost, and dependability. Finally, the report may include critical analysis of Resource
management strategies that ensure proper allocations of the company’s assets, at the right time and
right place. Its implementation methods like Cost-Benefit analysis to coordinate business activities
with operations management.
In order to accomplish the objectives listed above, the learner must concentrate on adhering to the
report's outline given below:
• An overview about the selected organization
• Describe how effective supply chains benefit the organization.
• Effectively make suggestions and recommendations after conducting a thorough analysis of
the effects of good operations management and the usage of operational techniques on
accomplishing goals in challenging and dynamic trade conditions.
• Examine critically the connection between successful operations management and the
accomplishment of tactical and strategic corporate goals.
• Use a variety of approaches and analysis frameworks to develop solutions to specified
operations management problems, and then evaluate the effectiveness of the various
techniques and frameworks.
• Examine and evaluate how digital technologies are used to achieve high operational
performance
• Examine critically and make recommendations based on evidence the many methods and
frameworks that operations managers employ to tackle challenging issues and boost
productivity.
• In order to accomplish organizational goals, evaluate a variety of total quality management
methodologies and strategies within the continuous improvement strategy.
• Create a plan for continuous quality improvement that is supported by theoretical ideas and
that justifies approaches and solutions in light of costs, advantages, and long-term
performance.
Section B
Assume that you are recently hired as the operation analyst of the organisation chosen in section A.
You have been asked to do an analysis on continuous quality improvement and strategic risk analysis
(SRA). You need to identify range of approaches for continuous quality improvement and prepare a
continuous improvement plan based on the operational activities in the organisation to achieve
organisational objectives. Furthermore, Identify the role and importance of SRA for the selected
organisation and undertake a SRA for the organization using risk identification and mapping. The
finding should be presented in front of the board of directors. This task should be completed in the
form of a 20-minute presentation based on the investigation conducted continuous quality
improvement and SRA. This investigation should focus on producing continuous quality
improvement plan and critically evaluating the significance of SRA for the organization.
Learner can focus on following areas to address the task mentioned above
Learner name:
Qualification: BTEC Level 4-HNC/HND Diploma (RQF)
Unit number & title: Unit 26 : Continuous Quality improvement and Strategic Risk Analysis
Description of activity undertaken
How the activity covers the requirements of the assessment criteria (this does not confirm achievement of
assessment criteria or confer an assessment decision)
Learner name:
Assessor name:
Learner name:
Qualification: BTEC Level 4-HNC/HND Diploma (RQF)
Unit number & title: Unit 26 : Continuous Quality improvement and Strategic Risk Analysis
Description of activity undertaken (please be as specific as possible)
How the activity covers the requirements of the assessment criteria, including how and where the activity took place
(this does not confirm achievement of assessment criteria or confer an assessment decision)
Introduction .......................................................................................................................... 22
Conclusion ....................................................................................................................... 25
Conclusion ....................................................................................................................... 28
Examine critically the connection between successful operations management and the
accomplishment of tactical and strategic corporate goals.................................................... 29
Conclusion ....................................................................................................................... 32
18
Use a variety of approaches and analysis frameworks to develop solutions to specified
operations management problems, and then evaluate the effectiveness of the various
techniques and frameworks.................................................................................................. 33
Examine and evaluate how digital technologies are used to achieve high operational
performance ......................................................................................................................... 36
Conclusion ....................................................................................................................... 38
Examine critically and make recommendations based on evidence the many methods and
frameworks that operations managers employ to tackle challenging issues and boost
productivity .......................................................................................................................... 39
Conclusion ....................................................................................................................... 43
19
Continuous Change Instruments and Strategies: Improving Operational Excellence ..... 45
Conclusion ....................................................................................................................... 45
Create a plan for continuous quality improvement that is supported by theoretical ideas and
that justifies approaches and solutions in light of costs, advantages, and long-term
performance ......................................................................................................................... 47
Conclusion ....................................................................................................................... 49
Section B .................................................................................................................................. 50
Introduction: Continuous Quality Improvement and Strategic Risk Analysis at Keells ..... 50
Explain about the function and significance of SRA for an organization ............................ 51
The Function and Significance of Strategic Risk Analysis (SRA) for Keells ................. 53
In order to manage organizational and stakeholder risk, the organization should evaluate a
variety of backup plans and tactics ...................................................................................... 55
Analyzing the Importance of Strategic Risk Analysis (SRA) for Keells in Complex
Situations.......................................................................................................................... 58
Conduct an SRA for a company using risk mapping and identification .............................. 60
Conclusion ....................................................................................................................... 62
Appendix .................................................................................................................................. 63
Presentation .......................................................................................................................... 63
20
References ................................................................................................................................ 69
21
Section A
Introduction
Keells, formally known as John Keells Property PLC, may be a conspicuous aggregate based
in Sri Lanka, eminent for its differing portfolio of businesses crossing different divisions
counting transportation, recreation, customer nourishments and retail, property advancement,
and budgetary administrations. Built up in 1870, Keells has developed to gotten to be one of
the biggest and most compelling enterprises in Sri Lanka, playing an essential part within the
country's financial landscape. Originally established as a ranch and rural administrations
company, Keells has experienced noteworthy change over its century and a half of existence.
The company's early a long time were stamped by its spearheading endeavors within the
development and trade of commodities such as tea, elastic, and coconut, which were urgent in
forming Sri Lanka's agrarian economy amid the colonial period. In the last mentioned half of
the 20th century, Keells broadened its operations into unused divisions, capitalizing on rising
openings in tourism, coordination’s, and retail. This vital extension was driven by the
company's vision to use its ability and capitalize on the advancing financial elements of Sri
Lanka and the broader South Asian region. Today, Keells works through a differentiated
commerce demonstrate organized into a few key divisions, each catering to unmistakable
showcase portions and buyer needs. The company's Shopper Nourishments and Retail segment,
for occasion, envelops a wide cluster of brands and items extending from dairy items and
refreshments to family basics, catering to both domestic and worldwide markets.
In expansion to its consumer-facing wanders, Keells keeps up a vigorous nearness within the
relaxation and tourism industry through its possession and administration of extravagance
resorts, inns, and travel administrations. This portion not as it were contributing essentially to
the company's income but moreover underscores its commitment to improving Sri Lanka's
offer as a chief visitor goal in South Asia. As a advertise pioneer in a few of its center
businesses, Keells proceeds to maintain a solid advertise position through key ventures in
framework, innovation, and human capital. The company's commitment to maintainable
development and corporate duty is prove by its activities in natural stewardship, community
advancement, and moral trade hones, adjusting its operations with worldwide measures of
corporate administration and social responsibility. In conclusion, Keells stands as a
confirmation to Sri Lanka's entrepreneurial soul and financial strength, epitomizing a bequest
of development, keenness, and greatness. With an immovable commitment to driving feasible
22
development and conveying esteem to its stakeholders, Keells remains balanced to explore the
complexities of an energetic worldwide economy whereas keeping up its administration
position within the Sri Lankan market.
Compelling supply chain administration is vital for Keells, a broadened aggregate working
over numerous divisions counting shopper nourishments, retail, relaxation, and property
advancement. This paper investigates how optimized supply chains contribute to Keells'
operational proficiency, client fulfillment, hazard administration, key development, and
competitive advantage.
At the heart of Keells' victory lies its capacity to productively oversee operations and control
costs through successful supply chain methodologies. By optimizing the stream of merchandise
and administrations from providers to customers, Keells minimizes wasteful aspects and
maximizes efficiency all through its operations. This optimization is basic in diminishing stock
holding costs, minimizing lead times, and moving forward in general asset utilization.
Keells benefits altogether from streamlined obtainment forms and successful coordination’s
administration, guaranteeing that items are accessible when and where they are required. For
occurrence, within the buyer nourishments segment, productive supply chains empower Keells
to preserve satisfactory stock levels of perishable merchandise whereas minimizing squander
through exact request determining and stock administration practices.
Effective supply chains play a significant part in upgrading client fulfillment and cultivating
dependability towards Keells. By guaranteeing solid conveyance plans and reliable item
accessibility, Keells meets the desires of its differing client base. Whether it's through its retail
outlets, inns, or buyer nourishment items, Keells endeavors to provide remarkable client
encounters by leveraging its well-managed supply chains.
In the retail sector, for case, productive supply chains empower Keells to reply quickly to
advertise patterns and customer inclinations. This dexterity permits Keells to present modern
items expeditiously and alter stock levels based on real-time deals information, in this manner
improving client fulfillment and keeping up competitive estimating strategies.
23
Risk Relief and Resilience
For occasion, within the wake of global supply chain disturbances caused by the COVID-19
widespread, Keells' proactive chance administration methodologies empowered it to preserve
operational progression and meet client requests successfully. This versatility not as it were
shields Keells' notoriety but too upgrades its capacity to resist outside stuns and explore
turbulent financial conditions.
Beyond operational efficiencies and hazard administration, viable supply chains back Keells'
vital destinations for development and showcase extension. By optimizing coordination’s
systems and obtainment forms, Keells accomplishes taken a toll efficiencies and versatility,
encouraging passage into unused markets and item lines.
For illustration, in its relaxation and property advancement segments, streamlined supply
chains empower Keells to oversee large-scale ventures proficiently and provide prevalent value
to partners. By collaborating closely with development accomplices and providers, Keells
quickens extend timelines and minimizes development costs, in this manner upgrading benefit
and competitiveness within the genuine bequest market.
In today's competitive scene, supply chain brilliance may be a foundation of feasible trade
hones. Keells leverages its productive supply chains to pick up a competitive edge by
advertising prevalent items and administrations whereas keeping up fetched administration.
This competitive advantage empowers Keells to draw in and hold clients, drive income
development, and maintain benefit over the long term.
Moreover, successful supply chains back Keells' supportability activities by optimizing asset
utilization, lessening carbon impression, and advancing moral sourcing hones. By
24
collaborating with ecologically cognizant providers and embracing green coordination’s
techniques, Keells illustrates its commitment to corporate social duty and natural stewardship.
Conclusion
In conclusion, viable supply chain administration is necessarily to Keells' victory over its
assorted trade operations. By improving operational effectiveness, moving forward client
fulfillment, relieving dangers, supporting vital development activities, and cultivating
competitive advantage, Keells proceeds to fortify its position as a showcase pioneer in Sri
Lanka and beyond.
Looking ahead, Keells remains committed to progressing supply chain development, grasping
computerized innovations, and cultivating collaborative associations to drive nonstop
enhancement and sustainable development. Through these endeavors, Keells points to not only
meet but surpass the advancing desires of its partners whereas conveying long-term esteem and
strength in an energetic worldwide commercial center.
25
Effectively make suggestions and recommendations after conducting a thorough analysis
of the effects of good operations management and the usage of operational techniques on
accomplishing goals in challenging and dynamic trade conditions
In energetic exchange conditions, deftness is vital. Keells ought to receive dexterous operations
methodologies that permit for quick adjustment to changing advertise requests and outside
weights. This incorporates executing adaptable fabricating forms, responsive supply chain
administration, and fast decision-making frameworks.
26
3. Cultivate Advancement in Item Development
Effective provider connections are basic in relieving dangers and guaranteeing supply chain
strength. Keells ought to reinforce collaboration with vital providers, prioritize provider
differences, and execute strong chance administration procedures to expect and moderate
disruptions.
Human capital may be a foundation of operational victory. Keells ought to contribute in ability
advancement programs, authority preparing, and ability upgrade activities to develop a high-
performing workforce able of driving operational fabulousness and innovation.
27
6. Screen and Adjust to Administrative and Showcase Changes
Conclusion
In conclusion, by actualizing these recommendations and proposals, Keells can reinforce its
operations administration capabilities, improve nimbleness and versatility in challenging
exchange conditions, and accomplish maintainable development and competitive advantage in
its different commerce divisions. By leveraging innovation, cultivating advancement,
improving provider collaboration, contributing in ability improvement, and remaining watchful
of administrative and advertise changes, Keells can explore energetic exchange conditions
viably whereas accomplishing its strategic objectives.
28
Examine critically the connection between successful operations management and the
accomplishment of tactical and strategic corporate goals
Tactical Goals:
Strategic Goals:
29
Customer Fulfillment and Showcase Differentiation
Tactical Goals:
Strategic Goals:
30
Innovation and Adaptability
Tactical Goals:
Strategic Goals:
31
Risk Administration and Trade Continuity
Operations administration plays a basic part in moderating dangers and guaranteeing trade
coherence for Keells. By actualizing strong supply chain flexibility methodologies, calamity
recuperation plans, and possibility measures, Keells minimizes disturbances caused by outside
dangers such as normal calamities, geopolitical flimsiness, or supply chain disruptions.
Tactical Goals:
Strategic Goals:
Conclusion
In conclusion, the association between effective operations administration and the achievement
of strategic and vital corporate objectives is essential for Keells' maintainable development,
competitiveness, and versatility in energetic advertise situations. By centering on operational
effectiveness, client fulfillment, advancement, and hazard administration, Keells can adjust its
operations with corporate goals, drive execution fabulousness, and accomplish long-term
victory in its assorted trade divisions.
32
Use a variety of approaches and analysis frameworks to develop solutions to specified
operations management problems, and then evaluate the effectiveness of the various
techniques and frameworks
Effective supply chain administration is basic for Keells to streamline operations, diminish
costs, and improve responsiveness. Embracing incline fabricating standards is fundamental to
dispose of squander and progress proficiency over fabricating forms. This approach not as it
were decreases generation costs but moreover upgrades operational dexterity by empowering
Keells to reply rapidly to changing advertise requests. Moreover, actualizing Just-in-Time (JIT)
stock frameworks makes a difference minimize stock holding costs whereas guaranteeing
convenient accessibility of items, hence optimizing working capital utilization.
Furthermore, strong Provider Relationship Administration (SRM) hones are pivotal for
reinforcing collaboration with key providers. By sustaining key organizations, Keells can
upgrade supply chain unwavering quality and adaptability, moderating dangers related with
provider conditions and disturbances. These procedures not as it were move forward
operational efficiencies but moreover back Keells in accomplishing strategic objectives related
to taken a toll diminishment and supply chain optimization.
33
Innovation Management
Technology appropriation, counting Endeavor Asset Arranging (ERP) frameworks and Client
Relationship Administration (CRM) stages, upgrades decision-making capabilities and
operational straightforwardness. These innovations empower Keells to streamline development
forms, quicken time-to-market for modern items, and progress client engagement. By
contributing in development administration, Keells not as it were fortifying its advertise
position but moreover accomplishes key destinations related to showcase development and
income diversification.
Navigating erratic advertise flow requires strong chance administration methodologies and
trade versatility. Conducting comprehensive hazard evaluations permits Keells to recognize
potential dangers to its operations, extending from supply chain disturbances to administrative
changes and geopolitical instabilities. Creating possibility plans and situation examinations
empowers Keells to moderate dangers proactively, guaranteeing trade coherence and
minimizing money related impacts.
Supply chain expansion plays a basic part in upgrading flexibility by decreasing reliance on
single providers and geographic locales inclined to insecurity. By broadening provider bases
and setting up elective sourcing procedures, Keells reinforces its supply chain adaptability and
responsiveness to outside stuns. Besides, executing thorough trade coherence arranging (BCP)
and calamity recuperation procedures guarantees that Keells can quickly recuperate from
disturbances and keep up operational continuity.
34
Performance Estimation and Nonstop Improvement
Total Quality Administration (TQM) standards and ISO guidelines play a vital part in keeping
up consistency in item quality and prepare brilliance over Keells ‘operations. By actualizing
quality administration frameworks and nonstop change activities, Keells upgrades operational
productivity, decreases squander, and improves client fulfillment. Enabling workers through
Kaizen occasions and progressing preparing cultivates a culture of advancement and
operational fabulousness, situating Keells as a pioneer in its industry.
35
Examine and evaluate how digital technologies are used to achieve high operational
performance
In today's advanced age, the vital integration of innovation plays a essential part in upgrading
operational execution over businesses. Keells, a expanded aggregate working in energetic
showcase conditions, leverages different computerized innovations to optimize productivity,
make strides decision-making, improve client fulfillment, and drive maintainable development.
This exposition investigates the basic part of computerized advances in accomplishing tall
operational execution at Keells, assessing their affect and effectiveness.
Evaluation:
36
Supply Chain Administration (SCM) Solutions
Supply Chain Administration (SCM) arrangements play a pivotal part in Keells' supply chain
optimization and coordination’s administration. These advances empower end-to-end
perceivability of supply chain operations, from sourcing crude materials to conveying wrapped
up items to clients. Keells utilizes SCM arrangements to figure request precisely, optimize
stock levels, track shipments in real-time, and relieve supply chain risks.
Evaluation:
SCM arrangements have moved forward Keells' supply chain responsiveness and operational
adaptability by upgrading collaboration with providers and wholesalers. By leveraging SCM
analytics and prescient modeling, Keells can expect advertise patterns, optimize transportation
courses, and decrease lead times. Be that as it may, challenges such as information integration
over dissimilar frameworks and cybersecurity dangers require vigorous administration systems
and ceaseless checking to protect touchy supply chain information.
CRM stages are instrumental in Keells' endeavors to upgrade client fulfillment and devotion
through personalized engagement and focused on showcasing procedures. These stages
centralize client information, inclinations, and intelligent, empowering Keells to provide
custom fitted items and administrations that meet client desires. CRM frameworks enable
Keells' deals and showcasing groups with significant bits of knowledge to sustain client
connections and drive income growth.
Evaluation:
CRM stages have empowered Keells to realize a more profound understanding of client
inclinations and behaviors, encouraging focused on showcasing campaigns and personalized
client benefit. By analyzing client information patterns and acquiring designs, Keells can
expect advertise request and adjust its item offerings appropriately. Be that as it may,
guaranteeing information security compliance and joining CRM frameworks with other
operational stages stay basic challenges that require proactive measures and adherence to
administrative standards.
37
Digital Change in Operations Management
Beyond person advances, Keells grasps computerized change as a vital basic to improve
operational dexterity, development, and effectiveness. By contributing in computerized
capabilities such as cloud computing, huge information analytics, Web of Things (IoT), and
counterfeit insights (AI), Keells upgrades its operational capabilities and responsiveness to
showcase dynamics.
Evaluation:
Digital change activities at Keells have revolutionized operational forms by empowering real-
time information analytics, prescient modeling, and robotization of monotonous errands. Cloud
computing framework underpins adaptable operations over geographies, whereas AI-driven
bits of knowledge optimize decision-making and asset assignment. In any case, social
resistance to alter and aptitude holes among representatives may obstruct the complete
realization of advanced change benefits, requiring ceaseless preparing and organizational
alignment.
Conclusion
38
Examine critically and make recommendations based on evidence the many methods and
frameworks that operations managers employ to tackle challenging issues and boost
productivity
Operations directors at Keells utilize different strategies and systems to address challenging
issues and improve efficiency over its expanded commerce divisions. This basic examination
investigates these approaches and gives evidence-based suggestions for optimizing operational
performance.
Methods:
Lean fabricating and Six Sigma strategies are broadly embraced by operations supervisors at
Keells to kill squander, move forward prepare effectiveness, and upgrade item quality. Incline
standards center on minimizing non-value-added exercises, optimizing asset utilization, and
improving workflow proficiency. Six Sigma techniques point to diminish inconstancy and
absconds through thorough data-driven examination and ceaseless improvement.
Critique:
While incline fabricating and Six Sigma have demonstrated compelling in optimizing particular
forms and decreasing costs at Keells, their execution may confront challenges in complex and
exceedingly customized operations. Accomplishing economical comes about requires a social
move towards nonstop change and vigorous authority bolster. Besides, the starting speculation
in preparing and foundation for these techniques can be significant.
Recommendations:
39
Total Quality Administration (TQM)
Methods:
Critique:
While TQM cultivates a culture of quality and client fulfillment at Keells, maintaining TQM
activities requires continuous commitment from best administration and dynamic support from
all levels of the organization. Challenges may emerge in adjusting short-term quality
enhancements with long-term vital objectives.
Recommendations:
40
Agile and Adaptable Manufacturing
Methods:
Agile manufacturing strategies empower Keells to reply rapidly to changing client requests and
showcase conditions. Adaptable fabricating frameworks permit for fast generation alterations,
customization of items, and proficient asset assignment based on real-time data.
Critique:
While dexterous and adaptable fabricating improve responsiveness and client fulfillment, their
execution requires strong supply chain integration and versatile organizational structures.
Challenges may incorporate adjusting deftness with cost-effectiveness and keeping up quality
benchmarks in energetic generation environments.
Recommendations:
41
Continuous Change and Kaizen
Methods:
Kaizen standards advocate for ceaseless incremental advancements in forms, items, and worker
abilities. By engaging representatives to recognize and execute small-scale enhancements,
Keells cultivates a culture of nonstop learning and operational excellence.
Critique:
Recommendations:
42
Strategic Outsourcing and Partnerships
Methods:
Strategic outsourcing permits Keells to use outside ability and assets to optimize non-core
capacities and center on center competencies. Associations with specialized benefit suppliers
and coordination’s accomplices upgrade operational proficiency and flexibility.
Critique:
Recommendations:
Conclusion
43
In order to accomplish organizational goals, evaluate a variety of total quality
management methodologies and strategies within the continuous improvement strategy
Kaizen, known for its center on nonstop change, engages Keells' workers to distinguish and
address wasteful aspects methodically. Through customary Kaizen workshops and activities,
Keells cultivates a culture of development and operational fabulousness. Representatives are
empowered to propose incremental changes in forms, driving to upgraded efficiency and
quality over the organization.
Kaizens iterative approach adjusts with Keells commitment to ceaseless learning and
adjustment to advertise changes. Be that as it may, supporting force in Kaizen activities
requires vigorous administration bolster and satisfactory assets. Compelling execution includes
coordination Kaizen accomplishments into execution measurements, incentivizing
cooperation, and cultivating cross-functional collaboration to maximize its impact.
Six Sigma techniques, utilizing the DMAIC (Characterize, Degree, Analyze, make strides,
Control) system, empower Keells to diminish absconds and changeability in basic forms. By
utilizing measurable instruments and thorough information investigation, Keells upgrades
operational proficiency and item quality. Six Sigma’s organized approach guarantees that
advancement activities are data-driven, quantifiable, and adjusted with organizational
objectives.
While Six Sigma improves quality and operational proficiency, its fruitful sending at Keells
requires specialized preparing and devoted extend groups. By certifying faculty in Six Sigma
techniques, such as Green Belts and Dark Belts, Keells can maintain quality changes and drive
ceaseless handle upgrades. Cross-functional collaboration is pivotal to use different viewpoints
and aptitudes in distinguishing enhancement openings and actualizing compelling solutions.
44
Quality Work Arrangement (QFD): Coordination Client Insights
Quality Work Arrangement (QFD) interprets client needs and desires into particular item or
benefit necessities. By adjusting plan, designing, and generation forms with client input, Keells
improves item development and advertise competitiveness. QFD techniques, utilizing lattices
and prioritization strategies, guarantee that item improvement endeavors are customer-centric
and responsive to advertise demands.
Continuous Advancement (CI) apparatuses such as PDCA (Arrange, Do, Check, Act), 5S (Sort,
set in arrange, Sparkle, Standardize, Maintain), and TPM (Add up to Beneficial Upkeep)
empower Keells to streamline operations, diminish squander, and optimize asset utilization.
PDCA cycles encourage iterative problem-solving and decision-making, guaranteeing
ceaseless handle advancement and adjustment to changing advertise dynamics.
Conclusion
In conclusion, add up to Quality Administration (TQM) techniques and techniques give Keells
with an organized approach to accomplishing persistent enhancement and operational
brilliance. By leveraging Kaizens culture of ceaseless enhancement, Six Sigma’s data-driven
handle optimization, QFDs customer-centric development, and CI tools operational
proficiency improvements, Keells can upgrade efficiency, streamline operations, and keep up
competitive advantage.
45
Successful usage of TQM requires solid authority commitment, cross-functional collaboration,
and progressing venture in worker improvement and innovation framework. By grasping TQM
standards, Keells can drive economic development, meet advancing showcase requests, and
accomplish organizational objectives in an energetic trade environment.
46
Create a plan for continuous quality improvement that is supported by theoretical ideas
and that justifies approaches and solutions in light of costs, advantages, and long-term
performance
Ceaseless Quality Advancement (CQI) is basic for Keells to upgrade operational effectiveness,
keep up tall item and benefit guidelines, and maintain competitiveness in energetic advertise
conditions. This arrange coordinating hypothetical thoughts with viable approaches,
legitimized by their costs, preferences, and long-term execution benefits.
Total Quality Administration (TQM) serves as the hypothetical establishment for this CQI
arrange at Keells. TQM emphasizes persistent advancement, client center, and representative
association in improving organizational forms and results. By receiving TQM standards, Keells
points to cultivate a culture of quality, advancement, and responsiveness to client needs.
• Approach: Embrace Incline Six Sigma strategies to streamline forms, kill squander, and
optimize asset utilization. Conduct normal Kaizen occasions to engage representatives
in recognizing and actualizing incremental improvements.
• Justification: Incline Six Sigma decreases operational costs, improves efficiency, and
quickens decision-making through data-driven bits of knowledge. Kaizen cultivates a
culture of persistent learning and advancement, leveraging cutting edge skill to drive
operational excellence.
47
Implementation of Quality Control Instruments and Techniques
• Approach: Use Industry 4.0 advances such as IoT sensors, AI-driven analytics, and
mechanical handle computerization (RPA) to screen forms in real-time, anticipate
disappointments, and optimize generation efficiency.
• Justification: Innovation integration improves information exactness, operational
perceivability, and decision-making capabilities. Computerization decreases human
blunder, speeds up forms, and encourages proactive support, in this manner progressing
in general operational productivity and cost-effectiveness.
48
Cost-Benefit Investigation and Long-Term Performance
Conclusion
49
Section B
In today's competitive and energetic commerce scene, organizations must persistently improve,
optimize operations, and moderate dangers to support development and accomplish vital
destinations. As the recently named Operations Investigator at Keells, I have attempted a
comprehensive examination of two basic features of organizational administration: persistent
quality advancement (CQI) and key hazard examination (SRA). This introduction points to
illustrate the noteworthiness of these hones inside Keells, laying out down to earth approaches
and key experiences to improve operational effectiveness and resilience.
Through this introduction, I point to supply the Board of Chiefs with significant bits of
knowledge and vital proposals based on an intensive examination of CQI and SRA,
guaranteeing Keells remains spry, versatile, and balanced for future development.
50
Explain about the function and significance of SRA for an organization
Key Chance Examination (SRA) could be a precise handle through which organizations
recognize, evaluate, prioritize, and relieve dangers that seem possibly affect their key goals,
operational exercises, and generally execution. It plays a pivotal part in empowering
organizations to navigate uncertainties successfully and make educated choices to attain
maintainable development and resilience.
• Risk Distinguishing proof: The essential work of SRA is to distinguish dangers that
seem influence an organization's capacity to attain its key objectives. These dangers
can emerge from different sources, counting advertise instability, mechanical
disturbances, administrative changes, economic shifts, and operational vulnerabilities.
By comprehensively distinguishing dangers, organizations can expect potential dangers
and openings that will affect their trade environment.
• Risk Appraisal: Once distinguished, SRA includes evaluating dangers based on their
probability of event and potential effect on the organization. This step incorporates
subjective and quantitative investigation to prioritize dangers concurring to their
seriousness and the organization's presentation. By measuring dangers, organizations
can distribute assets more successfully and prioritize hazard administration efforts.
• Risk Relief and Administration: SRA encourages the improvement and execution of
chance moderation methodologies and possibility plans. These methodologies point to
diminish the probability of dangers happening or minimize their affect in the event that
they materialize. Moderation measures may include diversifying operations, upgrading
cybersecurity measures, securing protections scope, and building up emergency
administration conventions. Successful hazard administration guarantees that
organizations are arranged to reply quickly and viably to unforeseen events.
• Monitoring and Adjustment: Past beginning hazard evaluation and relief, SRA includes
progressing checking of recognized dangers and reassessment as showcase conditions
advance. Persistent observing permits organizations to distinguish rising dangers early
and adjust their methodologies in like manner. This versatile approach guarantees that
organizations stay dexterous and versatile in an energetic trade environment.
51
Significance of Key Hazard Analysis
52
effectively, capitalize on openings, and accomplish economic development in an energetic and
challenging trade environment.
The Function and Significance of Strategic Risk Analysis (SRA) for Keells
Key Hazard Investigation (SRA) may be an imperative handle for Keells, empowering the
organization to explore instabilities viably whereas accomplishing its key goals. For an
expanded aggregate like Keells, which ranges retail, coordination’s, and nourishment
administrations, the capacity to expect, evaluate, and relieve dangers is significant for keeping
up operational progression and improving long-term development. The work of SRA at Keells
starts with the comprehensive recognizable proof of dangers over all features of its operations.
This incorporates showcase elements, administrative changes, innovative headways, and inside
operational vulnerabilities. By methodically cataloging these dangers, Keells can create a
nuanced understanding of potential dangers and openings that may affect its trade environment.
Once dangers are distinguished, SRA at Keells includes a careful appraisal of their probability
and potential effect on the organization. This handle employments both subjective experiences
and quantitative data to prioritize dangers, guaranteeing that the foremost noteworthy dangers
are tended to with suitable criticalness. For illustration, Keells presentation to supply chain
disturbances, administrative changes, and innovative dangers are surveyed to decide their
potential effect on operations and vital objectives. By evaluating these dangers, Keells can
distribute assets viably, prioritize moderation endeavors, and upgrade its decision-making
framework.
The hazard moderation and administration work of SRA is equally critical for Keells. This
includes creating and executing procedures to play down the probability of dangers happening
or to diminish their effect on the off chance that they do materialize. Keells can improve its
strength by receiving measures such as differentiating its supply chain, contributing in
progressed cybersecurity foundation, securing comprehensive insurance coverage, and
building up vigorous emergency administration conventions. These proactive measures
guarantee that Keells remains arranged to reply quickly and successfully to any disturbances,
in this manner defending its commerce progression and operational stability.
53
alter its hazard administration techniques expeditiously, keeping up its deftness and strength in
an energetic advertise environment. For occasion, Keells seem utilize progressed analytics and
real-time observing devices to track potential dangers and alter its methodologies in like
manner, guaranteeing that it remains ahead of potential disruptions.
The centrality of SRA for Keells amplifies past chance relief; it also enhances decision-making,
trade flexibility, and vital arranging. By giving basic experiences into the chance scene, SRA
engages Keells administration to form educated choices that adjust with its chance craving and
key objectives. This proactive approach minimizes instabilities, improving the probability of
fruitful results and feasible development. Moreover, compelling hazard administration fortifies
Keells trade flexibility, guaranteeing that the organization can withstand and recoup from
different disturbances, subsequently shielding its notoriety and partner trust.
Moreover, SRA is basic for guaranteeing compliance with administrative necessities and
industry measures. By recognizing and tending to compliance dangers proactively, Keells
mitigates potential legitimate liabilities, dodges punishments, and keeps up its validity with
administrative specialists and partners. This compliance confirmation is vital for maintaining
Keells showcase position and cultivating long-term connections with accomplices and
customers.
Finally, through robust risk administration hones, Keells picks up a noteworthy competitive
advantage. By relieving dangers that competitors may ignore, Keells positions itself as a
dependable and flexible player within the advertise. This competitive edge upgrades its
advertise situating, client certainty, and in general brand quality, thereby reinforcing its
administration within the industry.
In conclusion, Key Hazard Examination (SRA) is irreplaceable for Keells, supporting its
capacity to realize vital goals, improve operational flexibility, and support long-term
development. By joining SRA into its center procedures, Keells guarantees that it remains spry,
responsive, and well-prepared to handle future challenges, securing its put as a pioneer within
the industry.
54
In order to manage organizational and stakeholder risk, the organization should
evaluate a variety of backup plans and tactics
Firstly, assessing reinforcement plans includes distinguishing and prioritizing basic capacities
and resources that are powerless to dangers. For illustration, Keells may prioritize its supply
chain operations, guaranteeing elective sourcing methodologies and stock administration hones
are in put to relieve supply disturbances. By differentiating providers and keeping up buffer
stocks, Keells can minimize the effect of unanticipated occasions such as characteristic
calamities or geopolitical changes.
Secondly, creating possibility plans custom-made to specific risks empowers Keells to reply
quickly and successfully when disturbances happen. These plans diagram clear conventions
and methods for actuating reinforcement assets, reallocating workforce, and keeping up basic
operations amid emergencies. For occurrence, Keells seem build up cross-functional
emergency administration groups entrusted with decision-making specialist and
communication procedures to guarantee facilitated reactions in emergencies.
Moreover, surveying the achievability and viability of reinforcement plans requires situation
arranging and stretch testing. By recreating potential disturbances and assessing the strength of
possibility measures, Keells can recognize holes and refine its procedures proactively. This
iterative handle guarantees that reinforcement plans are versatile and flexible, competent of
relieving dangers over different operational and showcase conditions.
55
Furthermore, successful communication and partner engagement are necessarily to fruitful
hazard administration. Keells ought to keep up straightforward communication channels with
partners, giving convenient upgrades on hazard appraisals, moderation endeavors, and the
execution of reinforcement plans. This proactive approach cultivates believe and collaboration,
guaranteeing partners are educated and sure in Keells' capacity to explore challenges.
Ultimately, the evaluation of reinforcement plans and strategies at Keells isn't just a receptive
degree but a proactive technique to improve organizational flexibility and partner certainty. By
persistently checking on and refining reinforcement methodologies based on developing
dangers and showcase elements, Keells reinforces its position as a strong and forward-thinking
organization able of supporting long-term victory in the midst of instabilities.
56
Analyze strategic risk analysis' importance for organizations that operate in a variety of
complicated situations
Strategic risk analysis' (SRA) holds gigantic centrality for organizations working in
multifaceted and challenging situations. These organizations, frequently uncovered to differing
dangers stemming from advertise instability, administrative changes, mechanical progressions,
and worldwide financial shifts, depend on SRA to explore instabilities viably and support long-
term success.
Firstly, SRA empowers organizations to expect and relieve dangers that may possibly disturb
their operations and vital activities. In complex circumstances, where outside components can
altogether affect commerce results, SRA gives an organized approach to distinguishing,
evaluating, and prioritizing dangers based on their potential affect and probability of event.
This proactive position permits organizations to actualize preemptive measures, such as
possibility plans and hazard relief methodologies, to play down vulnerabilities and upgrade
resilience.
Furthermore, the vital experiences gained from SRA engage organizations to form educated
choices in the midst of vulnerability. By understanding the interconnecting of dangers and their
potential cascading impacts, decision-makers can prioritize asset allotment, key speculations,
and operational alterations that adjust with hazard resistance and commerce targets. This vital
arrangement not as it were upgrades operational proficiency but moreover cultivates
nimbleness in reacting to rising openings and challenges.
57
moderating execution dangers. This forward-thinking approach guarantees that organizations
stay competitive and versatile in a fast-evolving landscape.
Ultimately, the significance of SRA for organizations in complex circumstances lies in its
capacity to cultivate versatility, empower educated decision-making, and maintain long-term
development in the midst of energetic and interconnected dangers. By coordination SRA into
key arranging forms and operational systems, organizations can explore vulnerabilities viably,
capitalize on openings, and accomplish economical victory in a unstable worldwide
commercial center.
Analyzing the Importance of Strategic Risk Analysis (SRA) for Keells in Complex
Situations
Strategic risk analysis' (SRA) holds significant significance for Keells, especially because it
works inside Sri Lanka's energetic retail, coordination’s, and nourishment administrations
divisions. Keells, a differentiated combination with broad advertise reach and operational
complexities, faces a range of dangers extending from supply chain disturbances to
administrative compliance and showcase instability. In such a multifaceted environment, SRA
serves as a vital instrument for expecting, assessing, and moderating dangers that seem affect
its vital destinations and operational continuity.
Firstly, SRA empowers Keells to methodically recognize and survey dangers over its differing
commerce fragments. By conducting comprehensive chance evaluations, Keells picks up
experiences into potential dangers such as fluctuating customer request, geopolitical
vulnerabilities, and competitive weights. This proactive approach permits Keells to prioritize
dangers based on their seriousness and probability, directing vital decision-making and asset
allotment to relieve vulnerabilities effectively.
58
Moreover, for a company like Keells, which works over different geographic areas and
divisions, SRA bolsters custom fitted hazard administration techniques. Each advertise
presents special administrative systems, social subtleties, and financial challenges that impact
commerce operations. By coordination localized chance appraisals into its SRA system, Keells
can adjust its procedures to adjust with particular showcase conditions whereas keeping up
worldwide operational benchmarks. This localized approach not as it were upgrades
compliance but moreover minimizes operational disturbances and upgrades showcase
resilience.
Furthermore, the key bits of knowledge inferred from SRA enable Keells to explore
complexities and seize openings in the midst of instability. By understanding the
interconnecting of dangers and their potential impacts on diverse trade units, Keells can
proactively enhance and contribute in developing markets or advances. This vital nimbleness
empowers Keells to capitalize on showcase patterns, optimize supply chain efficiencies, and
improve client fulfillment, subsequently keeping up its competitive edge in a quickly advancing
industry landscape.
Additionally, in divisions where notoriety and partner believe are foremost, such as retail and
buyer merchandise, SRA plays a basic part in shielding Keells' brand judgment. By
distinguishing and moderating reputational dangers, moral contemplations, and compliance
challenges, Keells illustrates its commitment to moral trade hones and corporate social
obligation. This proactive hazard administration approach not as it were upgrades partner
certainty but moreover mitigates potential lawful liabilities and administrative sanctions,
guaranteeing long-term supportability and growth.
Ultimately, the significance of SRA for Keells lies in its capacity to cultivate flexibility,
empower vital decision-making, and support long-term development in the midst of complex
and interconnected dangers. By implanting SRA into its organizational culture and vital
arranging forms, Keells strengthens its commitment to operational brilliance, administrative
compliance, and partner esteem creation. This proactive chance administration approach not as
it were fortifying Keells' advertise position but moreover improves its capacity to explore
instabilities and capitalize on vital openings in a competitive commercial center.
59
Conduct an SRA for a company using risk mapping and identification
Key Chance Investigation (SRA) could be an orderly prepare that makes a difference
organizations like Keells recognize, survey, and moderate dangers that seem affect key goals
and operational coherence. By utilizing hazard mapping and distinguishing proof strategies,
Keells can proactively oversee dangers over its differing commerce units and operational
landscapes.
The to begin with step in conducting an SRA for Keells includes recognizing potential dangers
over different features of its operations:
60
Step 2: Hazard Mapping
After distinguishing dangers, another step is to outline them based on their probability of event
and potential effect on Keells:
Once dangers are recognized and mapped, Keells assesses and prioritizes them employing a
chance framework or scoring system:
• Risk Lattice: Setting recognized dangers on a network based on their probability and
affect scores. High-impact, high-likelihood dangers are prioritized for quick relief
activities, whereas low-impact dangers with lower probability may be observed or
accepted.
• Risk Scoring Framework: Relegating numerical scores to dangers based on predefined
criteria such as monetary affect, operational disturbance, administrative suggestions,
and reputational harm. This scoring framework encourages objective decision-making
and asset assignment for hazard administration strategies.
61
Step 4: Relief Procedures and Activity Plans
Based on the prioritized dangers, Keells creates and executes relief procedures and activity
plans:
Continuous observing and audit of chance administration methodologies are basic to adjust to
advancing dangers and advertise conditions:
Conclusion
In conclusion, conducting a Key Hazard Investigation (SRA) utilizing chance mapping and
distinguishing proof strategies empowers Keells to expect, survey, and relieve dangers
successfully over its expanded commerce operations. By joining SRA into its vital arranging
and operational systems, Keells reinforces its strength, improves decision-making, and
supports long-term development in the midst of energetic and complex advertise conditions.
62
Appendix
Presentation
63
64
65
66
67
68
References
Al-Fuqaha, A., Guizani, M., Mohammadi, M., Aledhari, M. and Ayyash, M. (2015) “Internet
Baines, T. S., Lightfoot, H. W., Benedettini, O. and Kay, J. M. (2009) “The servitization of
Bhamra, R., Dani, S. and Burnard, K. (2011) “Resilience: the concept, a literature review and
Enterprises,” ˜ the œ Journal of Law & Economics/˜ the œ Journal of Law &
69
Distribution & Logistics Management, 38(5), pp. 360–387. doi:
10.1108/09600030810882816.
Choi, T., Wallace, S. W. and Wang, Y. (2018) “Big Data Analytics in Operations
10.1111/poms.12838.
Choi, T.-M., Chan, H. K. and Yue, X. (2017) “Recent Development in Big Data Analytics for
Christopher, M. and Peck, H. (2004) “Building the Resilient Supply Chain,” International
doi: 10.1287/mnsc.36.2.123.
Da Xu, L., Xu, E. L. and Li, L. (2018) “Industry 4.0: state of the art and future trends,”
10.1080/00207543.2018.1444806.
Han, B., Liu, C. L. and Zhang, W. J. (2016) “A Method to Measure The Resilience of
doi: 10.1016/j.ifacol.2016.07.774.
Hazen, B. T., Skipper, J. B., Boone, C. A. and Hill, R. R. (2016) “Back in business:
operations research in support of big data analytics for operations and supply chain
70
Hein, A., Schreieck, M., Riasanow, T., Setzke, D. S., Wiesche, M., Böhm, M. and Krcmar,
H. (2019) “Digital platform ecosystems,” EM, 30(1), pp. 87–98. doi: 10.1007/s12525-
019-00377-4.
doi: 10.2307/259266.
Rents, and the Competitive Contracting Process,” ˜ the œ Journal of Law &
Economics/˜ the œ Journal of Law & Economics, 21(2), pp. 297–326. doi:
10.1086/466922.
5956.2005.tb00009.x.
Kozjek, D., Vrabič, R., Rihtaršič, B. and Butala, P. (2018) “Big data analytics for operations
doi: 10.1016/j.procir.2018.03.098.
10.1016/j.indmarman.2016.04.008.
McManus, S., Seville, E., Vargo, J. and Brunsdon, D. (2008) “Facilitated Process for
Improving Organizational Resilience,” Natural Hazards Review, 9(2), pp. 81–90. doi:
10.1061/(asce)1527-6988(2008)9:2(81.
71
Ostrom, A. L., Parasuraman, A., Bowen, D. E., Patrício, L. and Voss, C. A. (2015) “Service
10.1108/09574090910954873.
Scholten, K., Scott, P. S. and Fynes, B. (2014) “Mitigation processes – antecedents for
building supply chain resilience,” Supply Chain Management, 19(2), pp. 211–228.
doi: 10.1108/scm-06-2013-0191.
Stigler, G. (1939) “Production and Distribution in the Short Run,” Journal of Political
Teece, D. J. (2018) “Business models and dynamic capabilities,” Long Range Planning,
Van Der Vegt, G. S., Essens, P., Wahlström, M. and George, G. (2015) “Managing Risk and
Relations,” ˜ the œ Journal of Law & Economics/˜ the œ Journal of Law &
72
Williamson, O. E. (1979b) “Transaction-Cost Economics: The Governance of Contractual
Relations,” ˜ the œ Journal of Law & Economics/˜ the œ Journal of Law &
Sterman, J., Oliva, R., Linderman, K. and Bendoly, E. (2015) “System dynamics perspectives
73