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UpcomingTrendsinOperationsManagement|PardeepSinghAttri|LinkedIn
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Operationsmanagementismainlyconcernedwiththeeffectiveproductionof
resources,especiallyregardingtheprocessesanddesigns.Theresourcesare
transformedintomorefunctionalproducts.Withtheextensiveglobal
competition,thereareevolvingtrendswhichneedtobeappliedtowardsbusiness
development.
Thesearetheupcomingtrendsonemustconsider:
Inthefuture,varietyofhighqualityproductsforshorttime
productionisexpectedfromfirms.
Nowadays,everythingispossible.Eventheinventionofhightechmachineswill
totallyresulttofastproduction.Lesseningthespanoftimeformanufacturing
cyclewillcontributetothespeedandmoreproductionofgoods.Whenacertain
companyoffersproductsonsimilarqualityandprice,therewillbefast
distributionandpurchase.Asaresult,theindustrywillhaveanedgeoverother
firms.
Ifthereisanabundantsupply,therewillbeasmoothdistributionofgoods.When
itcomestoexportation,othercountrieswillcontinuetopurchasethevarietyof
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products.Havingavarietymeansthattherearealotofoptionsforthe
consumers.
EnvironmentalResponsibilitywillbeamajorconcerninbusiness
production.
Productionmanagersnowadaysmustalsobemoreconcernedwithenvironment
protection.Specifically,wastedisposalandpollutioncontrolmustbetakeninto
greatconsideration.Thispromotessocialresponsibilityamongconsumers.An
emphasisonwastereductionandrecyclingarealsoincludedonthe
environmentalconcerns.Powerplantsarealsoutilizedonproperway.
Torespondtotheenvironmentalissues,theenergysectorcontinuestodevise
helpfulwaysonhowtoattainanecofriendlyenvironment.Similarly,the
applicationofenhancedmechanicalengineeringconceptsgiveswaytoquality
production.
Therewillbeagreatneedforapplicationofmoreinnovative
strategies.
Abusinessindustryhasitsownsetofstrategieswhichareanchoredwiththe
availableresources.Fortheinputs,materials,facilities,information,and
customersareinvolved.Withinthestrategy,planninganddesignsaregiven
attention.Forthefinaloutput,goodproductsandservicesareintroducedtothe
market.Happycustomersaresatisfiedwithwhattheypurchase.
Versatilitywillbearequiredskillinordertosurviveinmarket
competition.
Thispertainstotheabilityofimmediatelyadaptingtowhateverchangesthatmay
occur.Specifically,amanufacturermustbeabletomeetthestandardsofthe
consumerswhenitcomestodemand.
Qualitymanagementmustbeobservedinthesucceedingyears.
Thisisacommonstrategyadaptedbymostbusinesses.Theultimategoalis
satisfactionofcustomeronthedistributedproducts.Unlimitedwaysmustbe
discoveredtoimprovequalityovertime.Leadersmustalwaysstrivefor
innovationsandimprovement.
EmployeeInvolvementwillresulttoabsorptionoffreshideas.
Withinanorganization,theopinionsofworkersalsomatter.Foraneffective
projectmanagement,theremustbeanactiveinvolvementamongtheemployees
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onthelowlevelofbusinessfirm.
WiththepriorknowledgefortheupcomingtrendsinOperationsmanagement,
evenasmallbusinessfirmcanbeatparwiththoselargecorporations.Success
willnotstayasameredreamaslongasabusinessowneradapttomodernization.
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Harihar T S
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SincelastMonday,Indianstockmarketshavebeenfallinglikeninepins.Every
riseismetwithmorevigorousselling.Itdoessoundsurprisingthataneconomy
thatisslatedtogrowfasterthantherestoftheworldisfallingsosharply.Scratch
thesurface,andthereisamethodandaninherentlogictothemadness.There
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areverystrongandcogentreasonswhytheIndianmarketsarefalling.Letuslook
atsomeofthekeyfactors...
TheGDPeffect...
WebegantheyearwithoptimisticGDPestimatesof7.8%forthefiscalyear2015
16.Thatlookslikeadistantdreamnow.Indianwouldbeextremelyhappytogrow
at6.8%,andthattoosoundsoptimisticnow.Remember,a1%downgradeinGDP
translatesintoawealthdestructiontothetuneof$20billion.Thatis
approximatelya15%downwardrevisioninthemarketcapitalization.SotheNifty
fallingfrom9100to7700canbeexplainedbythearithmeticoftheGDPeffect
itself.
Forgetprice,evenP/Eratiosmaybeunsustainable...
Anybullmarkethas3distinctphases.Firstmarketstrytocatchupwithcompany
growth.Thenmarketsmoveatparwithcompanygrowth.Andfinally,growthis
expectedtocatchupwithmarketexpectations.ThatisthepointwhenP/Eratios
entertherealmofcrazyvaluations.Asgrowthfalters(remember,wehavehad3
consecutivequartersofnegativetoplineandbottomlinegrowth),wemayseea
compressionofP/Eratios.WhilealotoftheP/Ecompressionwillbecapturedby
theerosionofmarketcap,italsotendstoexertadistinctpressureonmarkets.
Toomuchoftoxicbalancesheets...
ThatistherealchallengeforIndiancompanies.Banksaresittingonamountain
ofbaddebts.Witheconomicrevivalstillelusive,arestructuringofloansisatbest
atemporarysolution.Itjustaboutpostponestheinevitable.ThedayIndian
banksmakearealisticprovisionoftheirirrecoverabledues,wewillhavea
realisticpictureofbankbalancesheets.Corporatebalancesheetsarehardly
betteroff.Thereareatleast78majorbusinessgroupsinIndia,thataresaddled
withunsustainabledebt.Wealsoneedtofactorthehugedollardebtwhichmust
haveincreasedsubstantiallybynowtoadjustforastrongerdollar.Toxicbalance
sheetshavedrawnaveilovertherealcorporatepicture.
Abracadabra,ReformsAgendahasvanished...
Thisisprobablythemostimportantpointasfarasforeigninvestorsare
concerned.Thereisapremiumonacrediblereformsprocessandareforms
agenda.Theincumbentgovernmentcametopower15monthsbackwithalotof
promiseandpanache.Attheendof15months,thegovernmenthasnotevenbeen
abletomatchtheperformanceofitsBJPpredecessortheVajpayeegovernment
in1999.TheVajpayeegovernmentgaveabigpushtoreformsbyfacilitating
disinvestment,openinguptelecomandgivingabigthrusttoinfrastructure.
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DespiteathumpingmajorityintheLokSabha,thecurrentgovernmenthasnot
evenachievedafractionofwhattheVajpayeegovernmentmanageddespitebeing
theheadofafractiouscoalition.Whileinvestorsarestillputtingupabraveface,
thepatienceiswearingthin.IfyouarewonderingwhyFIIswithdrewRs.15,500
croreinAugust2015,hereistheanswer.
ThoseofwhokeepclingingtothegreatIndiagrowthstory,needtositbackand
reflect.ThetruthisthatthemarketsinIndiaarecorrectingforverycogent
reasons.Indiahadtheuniquebenefitofcheapoilandcheapcommodityprices,
whichcouldhavebeenagoldenopportunitytopushthereformsagendathrough.
Lookingattheequitymarkets,itlookslike"AcchheDin(HappyDays)"may
continuetobeelusive!
Stock Market
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Harihar T S
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