During the 1970s-80s, developed countries of North America and Western Europe were suffering economically. This drawback was due to the stiff completion provided by Japan’s ability to produce high quality goods at low price. Hence, the developed countries reassessed their strategies while analysing the techniques that worked for the Japanese. Through this economic mayhem the concept of ‘Total Quality Management” (TQM) emerged.
TQM is defined as an approach in management that is designed for continuous improvement along with the ability to deliver high-quality products and services to customers. The TQM approach works across the organisation. It involves all departments, employee, suppliers, clients and customers.
Once, you have understood the central idea of TQM the next step is to know the elements that will help sustain the development and growth. The primary elements of TQM can be summarised as:
- Employee Involvement
- Focused on the Process
- Integrated system
- Strategic approach
- Non-stop improvement
- Decision based on facts
These eight primary elements when followed and implemented diligently have promising effects. One of the best examples of TQM is the Ford Motor Company’s slogan of “Quality Is Job 1”. This was used in 1980s, and it supported the implementation of this approach.
TQM is an old concept, but it holds relevance in today’s competitive business world. And, for you to have a firm grasp at concept, education is priority. TQM and all the major concepts are dealt in Welingkar’s Distance Education Programme in a way that will make you a better businessman.
Businesses are now undertaking Innovative Management to strength their position in today’s dynamic market. The tried and tested techniques and some clichés are now redesigned to meet the market’s demands. At present, innovation management takes place under four important classifications:
Product Innovation: In this classification, innovation takes place when creative ideas regarding goods and services are initiated. Here, the innovation can be conducted on technical aspects or by introducing different components and materials, otherwise embedding new software.
Process Innovation: This classification includes new and improved methods of production. For example, a company can bring in innovation in the manufacturing processes or introduce a creative change in the technological flow. A new method of delivery also comes under this classification. Process innovation will improve production quality, while reducing its overall cost. Process Innovation can be seen in the use of barcodes, scanners and Internet which allows customer to track their parcels.
Marketing Innovation: Innovative changes in product design or packaging, sales methods, product placement and promotion or even pricing comes under marketing innovation. There are various examples for marketing innovations. One of the most famous one is Coca-Cola sharing can. The can could be twisted into two smaller cans so that it could be shared.
Organisational Innovation: In this category, innovation takes place in the external and internal relation of the organisation. Innovation can occur in the strategy, structure, skills and cultural stimulation. The main aim here is to enhance business performance by reducing administrative and transaction costs, improving satisfaction at work and reducing supply cost.
Bringing innovations in these four categories will change the way your oragnisation is placed in the market. But, it is important to know which department requires what type of innovation. And, this is where education comes in. Thus, the first step towards this education can be earned at Welingkar’s Distance Education Programme. You can polish your skills and gain immense knowledge through the various courses.
Did you know every day approximately 83 million people around the wrold attend 11.5 million meetings? Yet, an overwhelming amount of people assume meetings are futile. It is also considered as an activity that requires no skills or preparation. But, if you look closely that is not the case! The ability to run an effective meeting says a lot about your management and leadership skills. Here are some tips that will enhance your skills:
- Set an Objective: As a leader, you need to be clear about the objective of the meeting. Laying down an outline for the meeting is helpful as it gives everyone an idea about the overall flow of the meeting. Do take your time and identify the agenda, whether it is a problem solving meeting or a meeting to generate ideas.
- Coherency: Communication is the key to all problems. So, be coherent in your speech as this will send your ideas across clearly. It will also establish the tone and the purpose of the meeting ahead.
- Time Management: Prioritising time wisely is one of the most important pointers. Thus, ensure you have an agenda laid out, where you tackle each issue on timely basis. Also, as a leader you should ensure that the discussion does not stray away from the main issue. The other key thing about time management is to ensure that the discussion does not run forever.
- Encourage Participation: This is an excellent way to increase interaction. Participation makes everyone feel an important part of the meeting, along with generating more ideas. As a leader, you can build confidence and trust in your team members through effective participation and interaction.
- Summarise: Always wrap up the meeting by summarising the points and discussion. This clears up responsibility of each attendee and helps to avoid future conflicts, if any.
- Keep a Record: This is the post-meeting stage. Always ensure that the minutes of meeting are recorded in an orderly manner for future references. Distribute the minutes of the meeting that specifies the ongoing and conclusion of the meeting. So, if anyone has any doubt they can always refresh their memory through the minutes.
These tips will help you enhanceyour meeting skills, resulting in a productive meeting. But don’t just stop at this; get as much knowledge about the subject as you can. For insightful details, look for Welingkar’s Distance Education Programme where they have courses and workshops that will boost your presentation and meeting skills.
In the recent past, Quality Analysts have gained importance across businesses. In fact, there are a number of fields that a quality analyst can pursue, viz. Software development, Manufacturing or Customer Service.
Irrespective of the chosen field, a quality analyst has a number of important responsibilities. One of them is to focus on developing plans, while ensuring that all quality requirements are in compliance with company’s pre-defined norms. For instance, in manufacturing it would be to determine the types of tests that need to be performed or the number of samples to take per lot. In software development, the analyst develops plans and writes test cases to ensure that computer applications meet the specified requirements. And, in the customer service organisation a quality analyst does audit and surveys sample customer service transaction.
In a nutshell, the role of an analyst extends to frequently reviewing product and service stipulations. Additionally, improvising these stipulations also becomes a part of their job. Another vital task of a quality analyst is to analyse and report the testing results. Further, the quality analyst has to collect extensive statistics, while being aware of the root cause analysis technique to find the source of defects.
Moreover, the responsibilities get more specific depending on the field and organisation you choose. However, one thing that remains common is the basic background. That is, a quality analyst requires higher education, strong analytic skills and most importantly an eye for details. These qualities and much more can be achieved through Welingkar’s Distance Education. Here, you can refine your skills and explore new possibilities in the world of business.
Supply Chain Management or SCM includes movement and storage from the point of origin, that is, from the raw material to the point of consumption and everything in between. The process is interconnected and involves planning, execution, controlling and monitoring. However, with such a vast and interlinked process the risk involved in SCM is also high. Irrespective of the size of the business, there are various risks involved in SCM. But, the good news is that risks can be addressed by a well-planned SCM strategy.
There are two primary kinds of risks in Supply Chain Management: External and Internal Risks
External Risks include:
- Supply Risk
- Demand Risk
- Business Risk
- Environmental Risk
Internal Risks include:
- Manufacturing Risk
- Planning and Controlling Risk
- Process Risk
- Cultural Risk
To address these risks, businesses have introduced a specialised area called ‘Supply Chain Risk Management (SCRM)’. For the uninitiated, SCRM is the ability of an organisation to understand and manage its environmental, economic and social risks in the supply chain. It has to be executed in a manner that it will reduce the supply chain vulnerability. For this, a holistic approach is required. This requires multiple aspects such as logistics, finance and risk management disciplines to work together in order to mitigate the overall risk.
Some possibilities of managing risks are:
- Managing stock
- Planning alternative sourcing arrangements
- Business interruption/ Contingency insurance
A smooth running SCM has various benefits. It can help you lower operational expenses, while keeping a track of the manufacturing and execution process.
But, to ensure that SCM and SCRM are executed properly, one needs to employ a highly skilled individual to maintain the right flow. After all, to identify and manage risks, knowledge is key. And, you can acquire this specialised skill with Welingkar’s Distance Education Programme — Post-Graduation Diploma in Supply Chain Management. The course will develop your professional skills and guide you to increase profitability of an organisation by managing the supply chain efficiently.
In the world of business, concepts or philosophies are tried, tested and developed decades ago. One such concept is ‘Just In Time’. The philosophy has reaped benefits before and fits modern business scenario perfectly. The JIT concept talks about production strategy which strives to improve business returns. This is achieved by reducing in-process inventory and associated carrying costs.
The JIT philosophy gained prominence in the 70s through Taiichi Ohno at the Toyota Motor Company. The main objective of JIT is getting the right quantity of goods at the right place and at the right time. The philosophy is based on removing waste from business processes to achieve an efficient system. The end result is that quality products are provided to cater the customers. JIT process comprises of three main interconnected elements. The first one is respecting people; the second is JLT manufacturing, and lastly is total quality management.
Just In Time Concept
JIT plays an important role in inventory management. A high volume of inventory, disguises the problems faced by manufacturers. Handling these problems one at a time requires the proper application of JIT. To apply the concept successfully, one needs to be aware of the key components. Besides, eliminating the waste, broad view of operations is another important component. Other components are simplicity, continuous improvement, visibility and flexibility.
An important tool through which JIT operates is the pull system (Kanban) as opposed to the push system, where products are pushed into the system and stored in anticipation of the unexpected demands. The pull system, on the other hand, is controlling the flow of resources by replacing only what was consumed. The pull system is a customer centric system which if executed smoothly is capable of delivering high benefits.
A well operated JIT will yield many benefits like:
- Reduction in inventory.
- An improvement in quality
- Reduced space requirement.
- Shorter lead time.
- Lower production cost.
- Increased productivity.
- Greater flexibility.