A STUDY ON OPERATION MANAGEMENT AT FUTURE RETAIL

Synopsis submitted in partial fulfillment of the requirement for the award of the Degree of

MASTER OF COMMERCE

Of

BANGALORE UNIVERSITY

By

NAVEEN V

17BTCOM025

Under the guidance of

Mr. Swaroop

Assistant Professor

Seshadripuram College

Post Graduate Department of Commerce and Management

2018-2019
 Table of contents

SL.NO PARTICULARS PAGE NO

1 Introduction 1

2 Literature review 2

3 Objective of the study 2

4 Hypothesis testing 3

5 Need of the study 3

6 Scope of the study 3

7 Research Methodology 3

8 Plan of analysis 3

9 Chapter scheme 4
1. Introduction
Operations management is the administration of business practices to create the highest level of
efficiency possible within an organization. It is concerned with converting materials and labor into
goods and services as efficiently as possible to maximize the profit of an organization.
Operations management is chiefly concerned with planning, organizing and supervising in the
contexts of production, manufacturing or the provision of services. As such, it is delivery-focused,
ensuring that an organization successfully turns inputs to outputs in an efficient manner. The
inputs themselves could represent anything from materials, equipment and technology to human
resources such as staff or workers
Related activities include managing purchases, inventory control, quality control, storage, logistics
and evaluations of processes. A great deal of focus is on efficiency and effectiveness of processes.
Therefore, operations management often includes substantial measurement and analysis of internal
processes. Ultimately, the nature of how operations management is carried out in an organization
depends very much on the nature of the products or services in the organization, for example, on
retail, manufacturing or wholesale.

Definition of operation management

Operations management (OM) is the business function responsible for managing the process of
creation of goods and services. It involves planning, organizing, coordinating, and controlling all
the resources needed to produce a company’s goods and services. Because operations management
is a management function, it involves managing people, equipment, technology, information, and
all the other resources needed in the production of goods and services. Operations management is
the central core function of every company. This is true regardless of the size of the company, the
industry it is in, whether it is manufacturing or service, or is for-profit or not-for-profit.

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2. Literature review

Jay Heizer and Barry Render (2006)

Competing on Differentiation
Differentiation is concerned with providing uniqueness. A firm’s opportunity for creating
uniqueness are not located within a particular function or activity, but can arise in virtually
everything that the firm does. Moreover, because most products include some service, and most
services include any product, the opportunities for creating this uniqueness are limited only by
imagination.

Vermaa and Verter (2009)

A first endeavor for the advancement of an expository system for arranging rail-truck multi-purpose
transportation of perilous materials by building up a bio target improvement model to arrange and
oversee multi-purpose shipments to speak to the present practice; the steering choices in the model
are driven by the conveyance times determined by the client.

Chang (2008)

Investigates one of the multi-purpose operational issues: how to choose best courses for shipments
through the universal multi-purpose system. The issue is detailed as a multi objective multimodal
multi item stream issue with time windows and inward expenses, and a proficient heuristic is
proposed.

Huh and Janakiraman(2014)

study intermittent audit stock renewal issues with barters and different deals channels and
demonstrate that the optimality of (s, S) stock recharging strategies develops well past the
conventional deals situations concentrated so far in the stock writing.

Li and Zhang (2017)

study the preorder procedure that a merchant may use to offer a perishable item in a questionable
business sector with heterogeneous purchasers. They find that precise interest data may enhance the
accessibility of the item, which undermines the dealer's capacity to charge a high preorder cost. Thus,
propel request data may hurt the dealer's benefit because of its negative effect on the preorder season.

3. Objectives of study

 Producing the right kind of goods and services that satisfy customers’ needs.
 Maximizing output of goods and services with minimum resource inputs
 Ensuring that goods and services produced conform to pre-set quality specifications
 Minimizing throughput-time- the time that elapses in the conversion process- by reducing
delays, waiting time and idle time

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4. Hypothesis testing

Necessary condition statements are common in OM, but current formulations are not precise, and
methods used for building and testing them are not always adequate. The paper outlines the
methodology of necessary condition analysis consisting of two stepwise methodological
approaches, one for building and one for testing necessary conditions.

5. Need of the Study

It involves similar management for every industry or business irrespective of their nature of the
operation. Planning, organizing, staffing, monitoring controlling, directing and motivating are its
significant elements. Operation management is obligatory for organizations to manage the daily
activities seamlessly. With its help, an organization is able to make good use of its resources like labor,
raw material, money and other resources.

6. Scope of the study

Operations Management concern with the conversion of inputs into outputs, using physical resources,
so as to provide the desired utilities to the customer while meeting the other organizational objectives
of effectiveness, efficiency and adoptability. It distinguishes itself from other functions such as
personnel, marketing, finance, etc. by its primary concern for ‘conversion by using physical resources.

7. Research Methodology

Sources of data collection

Primary data:

It is collected through questionnaire, direct observation of Customer.

Secondary data:

The project report will be based on information collected from various secondary sources
articles, websites.

8. Plan of study

This study is deceptive in nature. The research will use descriptive statistics and quantitative
techniques to study the objectives.

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9. CHAPTER SCHEME

CHAPTER - 1 INTRODUCTION
Introduction, History, Meaning, Advantages of brand loyalty and its impact on sales.

CHAPTER - 2 RESEARCH DESIGN

The design consists of the title of the study, statement of the problem, objectives of the study, scope
of the study, need of the study, limitations, review of literature, sources of data, plan of analysis.

CHAPTER - 3 COMPANY PROFILE

This chapter contains the company profile and also the industry profile. The detail information about
the company and its industry will be stated here.

CHAPTER – 4 DATA ANALYSIS AND INTERPRETATION

The data collected will be explained in detail by using questionnaires, graphs and tables.

CHAPTER – 5 FINDINGS, CONCLUSION AND SUGGESTIONS

The summary of the findings, suggestions and the conclusion based on the study conducted will be
stated and the recommendations are drawn.

BIBLIOGRAPHY

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