For this assignment, please choose a publicly-traded company that you are interested in learning more about. It will be important that you are able to gather some information and data about your ‘chosen’ company in order to be able to develop a more-realistic analysis. Please note that this assignment is on a first-come, first-serve basis. Therefore, no two students may choose the same company. Thus, it would be best to make your decision as to which company you would like to report on as soon as possible.
Scenario: Assume that you are an employee in this company and your supervisor asks you to prepare a condensed operations management manual that can be used to better analyze the company’s operations. In addition to communicating and sharing key operations management concepts in this short-written report, your supervisor also wants you to discuss some items using real-life data from the company you selected.
Your supervisor specifically asks you to do the following:
A. Explain the overall goals of operations management.
B. Explain the lean operations approach and how it can be used in the company’s current production of its goods (or services).
C. Discuss key concepts surrounding how to manage, control, and measure ‘quality’ within the organization.
D. Considering the company’s impact on society, discuss why ethics is important in operations management.
E. Discuss one technology that the company can use in order to improve its operations.
F. Using the 3 most recent income statements (e.g. FY 2016, FY2017, FY2018) from the selected company please do the following:
For each of the 3 most recent years, divide COGS (Cost of Goods Sold) by Total Sales Revenue.
Analyze the relationship between COGS and Total Sales Revenue. Does it appear that this company is trying to implement a lean operations approach? Does it appear that the company is succeeding in its efforts?
Using the 3 calculations of [COGS / Total Sales Revenue], please apply the moving average technique to forecast the next 2 years.
What do you predict will happen to the [COGS / Total Sales Revenue] ratio in the next two years? Please explain