Operations Management Processes and Supply Chain
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Please assist in part 4 of the OIP - Measurement Strategy Li and Fung case study
1. Identify quantitative and qualitative measures that may be used to measure improvement of the process
2. Assess measurement strategies to select one that measures improvements of the selected process. How often will the improvement results be measured?
3. Explain the potential negative or positive impact of process improvement. (Your measurement strategy should help you determine if the improvement results are actually positive - that they do not have a negative impact elsewhere.)
Thank you.
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Solution Summary
The expert examines operations management processes and supply chain for Li and Fund case study.
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Li & Fung: 4
1. Quantitative measures
• Status of existing customers
• Turnover generated by existing and new customers
• Cost savings
• Advanced workflow processes to ensure consistent processes
• Scorecard measures
Qualitative measures
• Customer satisfaction
• Quality improvement
• Return on service
2. The measurement strategy for identifying which improvement measure would be most suitable for the organization, has to consider the organization's goals. The most important measurement strategy is to align measurement processes used by the organization to support its business strategy. The strategy includes a vision for what is required from the measure and a plan to get there. ...
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