Discuss About The Management Principles Concepts Techniques?
Golden bridge foods manufacturing limited is the company of Singapore which manufactures the best quality food for its customers. This company offers the “Hallal meat” to the people of Singapore. This company offers the best meat in the country. Normally, this company makes the best dishes of the meat which could be consumed by the customers at the same time or lately. HACCP has provided the best dishes of the meat. This company manufactures the different variety of meat and chicken to the customers. Company takes the help of stem oven and microwave to cook the meat and the chicken (Home, 2017). The packaging of the meat and chicken is offered in such a manner that the food becomes always fresh and eatable all the time within the expiry date by the customers. Various other products are also provided by the company to the food lovers.
Golden bridge foods manufacturing limited’s key factors have been investigated and it has been found that the best quality of the food products is the competitive advantage of the company. The revenue and market base of the company has been enhanced rapidly from last few years. The main factors of the company are the taste of the food. Certificate of HACCP has also been received by the company which is also a competitive advantage of the company (Wisner, 2011). Numerous studies has been analyzed and it has been concluded that the company has made a promise with its clients to offer them the best of the products in terms of quality and taste to its customers and the variety of the products would also be offered after analyzing the choice and demand of the customer. Further, the food offered by this company is healthy and tasty so that the market base of the company has been enhanced.
Interface is a tem which is concerned to the technique which is helpful for a company to set an interaction among various related aspects, departments and the factors of the company. According to this report, logistic management of a company is concerned with entire activities of the company whether it is related to accounting department of the company, marketing department of the company or the production department of the company (Chopra & Meindl, 2013).
Production of a company must be done in such a manner that the entire activities of the production run smoothly and help the company to achieve the target. Production run of a company is more efficient in terms of cost and quantity of a company at the time of production of the units. At the time, a manger of the company makes the decision in regarding of number of units to manufacture the each production run. Managers are required to consider the cost related with the process of production and the inventory holding cost. Various techniques and tools are available for the managers to evaluate the techniques and the process of the company to manage the performance and cost of the production department of the company (Cetinkaya, 2011).
Production run of Golden bridge foods manufacturing limited has been investigated to analyze the process of the company and the run of production system of the company. Through investigation, it has been found that the production of the company is of short run as the production of the company completes in the short span of time and the product of the company could not be stay fresh for a longer period. Thus it has been found that ether is less chances in front of the company to make some changes into the procedure and cost of the production of the company. So it is recommended to the company to make the changes in cost by changing the production procedure of the company.
(Beske and Seuring, 2014)
Marketing department interface has been analyzed with the logistic system of the company to analyze that how the logistic department of a manufacturing company affects the marketing activities of a company. there are various perspective of the logistic department and the marketing activities which depict about the relationship of both the companies.
Mainly 4 perspectives are there in the interface of marketing with logistic which are Traditionalist, Re-labeling, Unionist and Intersections. These 4 perspectives describe about the different situation of marketing interface. With the time, various changes have taken place into the logistic and marketing activities which could be described through the above perspectives. Firstly, traditionalist view of the company has been analyzed. This perspective depicts that marketing activities and logistic activities are totally different from each and thus there is no interface among them (Assey, 2012). Further, Re-labelling perspective depict about the relationship of marketing and logistic, according to it, marketing is a large fraction of the logistic activities and the management which is requisite to administer the sales, customers etc. of the company. Lastly, the unionist approach express that activities of both department works jointly to administer the presentation of the firm.
A powerful structure and a few creative facets of logistic help a firm to guide about the various economic benefits. Golden bridge foods manufacturing limited too takes support of accounts and finance department in administrating the procedure of finance throughout the logistic activities so that bottom line perspective of the company could be improved. Corporation has finished it all the way through managing, cutting and exploring all the extra expenses and cost with the assistance of logistic section of the corporation. This cutting cost cannot make a collision over the firm’s operations as whole cutter rate was not at all helpful for the company (Wisner et al, 2012). This helps the company in investing its money into diverse other suggestions to progress the firm’s profitability condition. Golden bridge foods manufacturing limited is looking at the forefront to take only some more ladders to cut and administer the added cost.
When a firm order raw material from its suppliers than the total time period taken from placing the order to the time, the order is received by the company and produces further to offer the end inventory to the customer, the period is called as order cycle. Golden bridge foods manufacturing limited’s order cycle has been analyzed to investigate over the efficient and effective technique of order cycle. It has been found that company is using the best of the technology to manage the order cycle of the company. Following steps are used by the company for managing the best logistic activities of the firm:
At this level, order is shipped from the suppliers to the company to start the production process of the company (Wisner, 2011).
At this level, order is dent from the warehouse to the production department of the company to start the production process of the company.
Calculating the EOQ point
At this level, EOQ point and other evaluation technique of the company is analyzed to identify the minimum stock of the company.
Lastly, order is placed by the company according to the minimum inventory level and the production level of the Golden bridge foods manufacturing limited.
Key performance indicators (KPIs) of Golden bridge foods manufacturing limited has been investigated and it has been found that various KPIs are there in the business functioning of the company to manage the performance and system of the company. Company has used the best measurement techniques to identify the cost and manage the activities of the company. Through the study, it has been found that the main KPI of the company is its competitive price and the better activities of the company. the logistic process of the company is also compatible which helps the other department of the company to manage their activity and reduce the cost at a great level (Toomey, 2012).
Some recommendation has been given to the top level management of the company to manage the order cycle to make it more competitive for the company:
Firm must process the order in such a manner that the controlling over the activities and the cost of the company could be done. This depict that firm must place the order and process the order further while keeping various aspect in the mind of better management and cost reduction.
The shipping method of dispense the ending products of the corporation to customer ought to be very powerful to pull the customer towards company to enhance the revenue.
Customer services depict that the product must be delivered to the customers on time so that the satisfaction level of customers could be enhanced. Customer support service is supposed to be dynamic and ought to sort out whole queries of customers. If the goods would be accessible to the customers on instance than clientele would be gratify (Lysons and Farrington, 2012).
Corporation must control over the inventory stage in a successful way to engrave the whole cost and diminish all the extra charges of company.
The management of inventory is crucial for every business. It is a method to estimate the level of inventory of the firm in order that the production and the level of inventory of the corporation could be administered in a successful approach to augment the company’s profit level and subtract the total cost which could be occurred in the company. The inventory management methods express that the company must look over the needs and demands of the company and must work accordingly to manage the performance, profit and customer loyalty level of the company. the effectual management system of this firm is viable for the company which helps the firm to manage entire activities (Arndt , 2008).
Golden bridge foods manufacturing limited is calculating the stock through a variety of manners to identify and administer the stock level. The process of managing the inventory of Golden bridge foods manufacturing limited is viable and assists the other activities to take place easily (Wu &. Xu, 2013). According to a study over this company, it has been evaluated that the various new changes are quite helpful for the company to enhance its activities and administer the level of inventory of the company. The inventory management methods express that this company is looking over the needs and demands of the company and working accordingly to manage the performance, profit and customer loyalty level of the company. Even through, few more changes into the inventory level of the company would help the company more in managing the entire activities.
Some recommendation has been given to the top level management of the company to manage the inventory management to make it more competitive for the company:
EOQ stands for economic order quantity. This technique of inventory management depict that the inventory must be ordered by the company at the point where the minimum level of inventory has been reached in the warehouse of the company. This evaluation technique helps the company to measure that point. Through this the inventory level, order cost and the carrying cost of the company is viable (Hussey, 2007).
FOP stands for fixed order point. This technique depict that the company is required to manage the fixed units of stock in the company to manage the inventory level and cost of the company. Through reducing the warehouse charges of the company and other production cost of the company, inventory level of the company could be done (Yu et al, 2013).
FOT stands for fixed order time. This technique depict that the company is required to order the fixed units of stock in the given time period of the company to manage the inventory level and cost of the company. Through reducing the warehouse charges of the company and other production cost of the company, inventory level of the company could be done.
Conclusion:
The above study over the logistics management concludes that the Golden Bridge foods manufacturing limited is administrating the tools and methods of the company in an effective manner. This study concludes that the above given recommendation could help the company to enjoy more growth and deduct the cost efficiently
References:
Arndt , H., (2008), Supply Chain Management, Germany: Gabler Verlag
Assey, J.J.M. (2012). A New Introduction to Supply Chains and Supply Chain Management: Definitions and Theories Perspective, Journal of Business and Economic. 5 (1). pp. 194-207
Beske, P. and Seuring, S. (2014). Putting sustainability into supply chain management, Supply Chain Management: An International Journal. 19 (3). pp. 324-333.
Cetinkaya, B. (2011). Sustainable Supply Chain Management: Practical Ideas for Moving Towards Best Practice. Springer Science & Business Media
Chopra, S. & Meindl, P. (2013). Supply Chain Management: Strategy, Planning, and Operation (5th ed.). US: Pearson, Global Edition
Home. (2017). Golden bridge foods manufacturing limited. Retrieved from https://www.golden-bridge.com.sg/ on 23rd Sept 2017.
Hussey, D.E., (2007), Strategic Management: From Theory to Implementation, UK: Taylor & Francis
Lysons, K. and Farrington, B. (2012), Purchasing and supply chain management, Harlow, Essex: Pearson Financial Times
Toomey, J., (2012), Inventory Management: Principles, Concepts and Techniques, Germany: Springer Science & Business Media
Wisner, J D (2011), Principles of Supply Chain Management: A Balanced Approach, Cengage Learning
Wisner, J. D., (2011), Principles of Supply Chain Management: A Balanced Approach, Cengage Learning
Wisner, J.D., Tan, K., & Leong, G.K., (2012), Principles of Supply Chain Management: A Balanced Approach, (3rd)South-Western Cengage Learning, 572
Wu, J., Li, L., &. Xu, L. D., (2013), A Randomized Pricing Decision Support System in Electronic Commerce: Decision Support Systems
Yu, Y, Hong, Z F, Zhang, L Liang, L & Chu,C B (2013), Optimal selection of retailers for a manufacturing vendor in a vendor managed inventory system: European Journal of Operational Research, 225(2), pp 273–284
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