Contribution to the matter
Running Head: WEEK 5 INDIVIDUAL ASSESSMENT
Introduction
Exercise 1. Analyzing a current operations management technique.
1. What is the problem, opportunity, or challenge addressed in the article? The opportunity addressed in this paper state that business analytics (BA) is an important tool to improve businesses efficiency, competitiveness and profitability (Valadares de Oliveria, McCormick, & Trkman, 2012, p. 5488). An important area of BA use is in supply chain management (SCM). SCM can considerably improve business operations performance and supply chain (SC) as a whole (Valadares de Oliveria, et al, 2012, p.5488). This shows that a venture in BA is likely to develop a competitive improvement for the corporation.
The article explains that the investment in BA is likely to advance SC performance and bring a competitive edge. Even though an investment in BA is statistically proven to be favorable, it can be considerably undertaking for any corporation (Valadares de Oliveria, et al, 2012, p.5488).
2. What is the solution, idea, approach, etc., recommended/implemented in the article? The use of BA has a large influence on operational performance, tactical and strategic levels. Many business have mentioned BA as an approach and adopted by leading companies can achieve high flexibility, higher production cycle times and faster "metabolism" for processing significant information in the company (Valadares de Oliveria, et al, 2012, p.5488). This method also applies to SC with monitoring and improving work flow performance which has made SC an increasingly complex task. Having a multifaceted performance management structure includes several management processes, for example identifying measurements, production targets, development, communication, supervising and reporting feedback(Valadares de Oliveria, et al, 2012, p.5489). Accurately implemented and used correctly, BA can enhance performance in all of these
Introduction
Exercise 1. Analyzing a current operations management technique.
1. What is the problem, opportunity, or challenge addressed in the article? The opportunity addressed in this paper state that business analytics (BA) is an important tool to improve businesses efficiency, competitiveness and profitability (Valadares de Oliveria, McCormick, & Trkman, 2012, p. 5488). An important area of BA use is in supply chain management (SCM). SCM can considerably improve business operations performance and supply chain (SC) as a whole (Valadares de Oliveria, et al, 2012, p.5488). This shows that a venture in BA is likely to develop a competitive improvement for the corporation.
The article explains that the investment in BA is likely to advance SC performance and bring a competitive edge. Even though an investment in BA is statistically proven to be favorable, it can be considerably undertaking for any corporation (Valadares de Oliveria, et al, 2012, p.5488).
2. What is the solution, idea, approach, etc., recommended/implemented in the article? The use of BA has a large influence on operational performance, tactical and strategic levels. Many business have mentioned BA as an approach and adopted by leading companies can achieve high flexibility, higher production cycle times and faster "metabolism" for processing significant information in the company (Valadares de Oliveria, et al, 2012, p.5488). This method also applies to SC with monitoring and improving work flow performance which has made SC an increasingly complex task. Having a multifaceted performance management structure includes several management processes, for example identifying measurements, production targets, development, communication, supervising and reporting feedback(Valadares de Oliveria, et al, 2012, p.5489). Accurately implemented and used correctly, BA can enhance performance in all of these