Operations Management and Tesco Essay Example | Topics and Well Written Essays - 1250 words

Operations Management and Tesco - Essay Example Signboards with directional arrows were found to hang from the ceiling. Commodities were segregated on the basis of different parameters, each type being found at one place. The positioning of items was so done as to optimise space and also allow easy access to the customers. An interesting feature of the store is the open space that facilitates movement of products as well as customers. The entire arrangement has been designed in a way that ensures minimum collision between people moving inside the store. Surveillance cameras are installed at strategic points that keep an eagle eye on possible shop lifters. In operations management, the 4 V's are commonly defined as volume, variety, variation and visibility. In a large supermarket like that of Tesco's, all of them could be sensed, though in varying proportion. (Slack N., et al, 2007) The supermarket offers only one service that being providing commodities to customers. However, this is not the all. The uniqueness of the super market lies in the fact that it provides a plethora of goods and other necessary items for sale. It allows the customers the freedom to shop groceries, garments, accessories, cosmetic products, beverages and toiletries all at the same place. In addition to this, customers can also enjoy free home delivery services in case their purchase bills exceed certain pre determined limits. The volume of operations is thus, very high. Continuing from the volume analysis, the variety of services that a customer receives from the supermarket is high. It also needs to be mentioned that it depends on the customer whether she would like to enjoy the whole range of services provided. For example, many people were seen to visit the garments and electronics goods section but none of them purchased from there. In the strictest sense of the term the variety is very high. The store which was visited had maximum number of customers purchasing grocery and food items. Variation in sales happens depending on the product. Generally, food items have a moderate level of demand. Garments are in high demand only in certain seasons. However, variation in sales was also experienced throughout the day. Towards the evening, there was a rise in the number of customers purchasing hard drinks, beer and fruit shakes. Visibility, as defined in theories of operation management, is very low. Customers seldom can see how the shelves are getting filled up or the source from where frozen foods are obtained. Most of the rearrangement is done during the early morning or late night after the store gets closed for customers. The Layout, Flow and Use of Process Technologies In a supermarket, the layout and flow of various products are of paramount importance. It has to be borne in mind that placing of the products plays an important role both for the customers as well as the service provider. In the visited store, the layout was more like a process layout. Items of same kind were placed at one place. Among the items of same kind, the heavier ones were placed in a manner that would make it easy for the customer to carry it. Personal items and toiletries were found to be arranged in columns, the bigger packets forming the base and the smaller ones

October 2007 IMF-World Bank Annual Meeting Essay

October 2007 IMF-World Bank Annual Meeting - Essay Example housing market, adverse credit conditions, and the rapid appreciation of some currencies could be some of the areas of concern in the days to come. Djoudi confirmed that the World Bank is defining strategic directions to address this growing threat. The World Bank would focus on good governance and financial stability frameworks, knowledge transfer, and cohesive agreements on trade and aid to mitigate the impacts. Otohiko Endo (Temporary Alternate Governor of the Bank and the Fund for JAPAN) suggested that "IMF should establish a new crisis-resolution strategy built upon the responses to the movement of private capital across borders". He said that IMF must set up a user-friendly preventive instrument, taking into consideration the views of major emerging market economies. For surveillance, he recommended that "IMF should shift its emphasis from a static analysis of the current situation toward a dynamic analysis of the risk of financial crises over a medium-term horizon". Globalization was identified as one of the other primary challenges. Globalization has brought uneven benefits to the billions in middle income countries and the developed countries are also facing the opportunities and strains of globalization. A few steps, as suggested by the participants, to mitigate the risks of globalization include: Leveraging the strengths and synergies among the four principal entities that make up the World Bank Group - IBRD, IDA, IFC, and MIGA. IDA 15 replenishment with more contribution from the World Bank. Stronger growth strategy for IFC. Better cooperation between IDA and IFC to boost the private sector in poorer economies. Price simplification and reduction for loans from IBRD. World Bank President Bob Zoellick assured that the development committee would focus on strategic direction of the World Bank Group, IDA15 replenishment, and the role of the Bank in the fight against global climate change. Infratructure is also a basic necessity in the global economic environment, a lack of which is a definite threat to growth. It is serious concern, considering that the investment in infrastructure has declined significantly in developing countries. Corruption in governments is one of the key detriments to infrastructure development. A World Bank report says that Africa could have saved $45 billion in road reconstruction costs if had spent just around $12 billion [in the late 80s] towards maintenance of the roads. So, the issue in most of the developing countries is not only lack of infrastructure, but a lack of will to invest in it, coupled with corruption. Reforms or Changes in IMF Policy The Minister of Finance for Nigeria - Shamsuddeen Usman - emphasized that the developing countries need a greater voice and representation in the two institutions, and the greater voice would come only through the quota arrangements. He called for "at least a tripling of the basic votes for the developing countries, and the other quota and voice reforms, especially using