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Requirement
Critically examine the input–transformation–output model of operations function that you are familiar with and determine the extent of its strategic impact. Ideally you should select the operations function of the organisation where you are currently or were previously employed.
Solution
Introduction
Operations management is a field widely known for its multi-disciplinary nature. Operations management deals with planning, organizing and supervising the process of production, manufacturing, etc. Operation Management is delivery-focused and ensures that the organization turns the input into outputs successfully. The input involves materials, technology and equipment along with the staff or workers, etc. Further, the inputs are transformed into valuable assets and are processed to form an output. The consumer satisfaction plays a vital role in determining the quality of the whole input-transformation-output process.
Examples of these kind of duties are acquirement of goods, the raw material from external departments/sources, having good relations with those involved in the organization, and improving the sustainability of the company.
Considering the Input-Transformation-Output Process of an Operation system in a bank.
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Input
The input involves following criteria:
(a.) Materials: This operation is responsible for the processing of materials that are responsible for transforming the physical characteristics, like shape or elemental composition. Other processes involve change of locations which include parcel delivery firm or even store the raw materials like the warehouses. In the bank, the materials include the computer and the paper.
(b.) Information: This operational system processes information and transforms it to informational data. Some companies store the informational in libraries etc. Companies are dealing with telecommunication often find it easier to change their location. The information is provided to the bank by the market research companies so that they assist them in designing of product and the delivery.
(c.) Customer: This operation deals with transforming the physical characteristics of the customers. Examples in this operation include airlines, transportation systems, and bus and taxi companies. The physiological state of clients is also changed in hospitals, theaters, etc.
There are other inputs that do the process of transformation within the organization which involve:
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Facilities – these inputs include buildings, equipment, organizational plant and the technology involved in the operation.
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Staff – includes the people operating, maintaining, planning and managing the operation. (Slack et al., 2012)
In a bank, the capital equipment involved are security screens, computer systems, security safes, imaging scanners and the furniture provided to the employees. (Mueller and Mueller, n.d.)
The labor component involves the tellers, mobile lenders, the bank managers and the lawyers of the bank organization. The accounting section in the bank has some basic office supplies like the journal entries to record the unique items or items that are recurring like depreciation. Data involved with the journal entries are journaled entry number, batch number, dates, accounting period, etc. Further, it includes the bookkeeping process which includes recording the transactions occurring within the organization. Further the usage of general ledger for accounting the information and data transferred within the sub-ledger like accounts, cash management, projects, etc.
Often all the three component of the inputs i.e. the material, information and the consumers are usually transformed into a single organizational authority. The example in case of the banking system is the withdrawal of the money from the personal account of the customers involves the details or information of that customer like his account. Material like the cheque from his cheque book and the currency and finally the customer himself.
Operation
The transformation process includes taking of the one or more inputs and transforming the inputs by adding value to them; it further provides output to the clients. If an organization handles the raw materials as inputs, then it becomes easier for the organization to deal with the transformation/operations management. Thus, in simple words operations are the methods that take place with a set of input resources. These resources are then transformed, and outputs are provided in the form of the products or services required by the clients. (Understanding Operations Management”, 2011)
But the transformation process is different for manufacturing organizations and the service organization. The manufacturing will transform the inputs to the tangible output products whereas the service organizations are responsible for transforming the input to the intangible product. The manufacturers make use of machinery, robots, etc. for the production of output whereas the service providers' processes are more of worker-intensive and are dependent on the clients.
The operations taking place in the operation system of the bank department involve the investment advice for the customers. The bank ensures that the good customer services are being followed by the bank, and all the demands of the customer have been taken care of. The transformation process in the bank involves that the computer systems are working properly because all the critical data and information is stored in the computer system. If the computer systems are not working properly, then the data might get lost creating a hitch for the bank authorities. The transformation process further includes the establishment of the systems and procedures that make the procedure of baking efficient and effective.
Output
The outputs are primarily defined as the resulting product of the efforts made by the organization. The products are further provided to the customers or are in a way beneficial to the clients and the customers. The services are either directly given to the customers, or they are modified further so as to meet the needs of the customers. The nature of the outputs is extremely vital for the determination of the customer feedback, like if the customer is satisfied or not and also important for the maintenance of the income inside the organization. The method of production of the outputs like the efficiency in the production process which is responsible for determination of the incurred costs by the company or the firm or the extent to which the waste is produced is important factor for the profitability of the company. (Open.edu, n.d.)
The main output involved in the bank systems is the delivery of sound and efficient financial services to bank’s customers. The ultimate goal is to achieve the satisfaction among their customers to as to increase their reputation along with the profitability. Once the accounts and the financial services demanded by the customers are provided to him in the given period, the reputation and the profitability of the bank lies in the satisfaction of their clients. The customer satisfaction provides huge cost savings to the bank along with competitive advantage. Once the customer is satisfied with the organization, the banks gains over the other similar organizations and the customers are in turn benefitted by enjoying valuable offers like higher interest rates on their respective saving accounts and lower interest rates on the loan.
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Slack, N., Brandon-Jones, A., Johnston, R. and Betts, A. (2012). Operations and process management. Harlow, England: Prentice Hall/Financial Times, p.12.
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Understanding Operations Management”. (2011). 1st ed. [ebook] The Open University, p.3. Available at: http://www.saylor.org/site/wp-content/uploads/2013/04/BUS300-1.3_Understanding-Operations-Management-The-Transformation-Model.pdf [Accessed 20 Feb. 2016].
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Open.edu, (n.d.). Operations, technology and stakeholder value: View as single page. [online] Available at: http://www.open.edu/openlearn/ocw/mod/oucontent/view.php?id=3494&printable=1 [Accessed 20 Feb. 2016].
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Mueller, D. and Mueller, D. (n.d.). Input Devices Used in the Banking Industry | eHow. [online] eHow. Available at: http://www.ehow.com/info_8761776_input-devices-used-banking-industry.html [Accessed 20 Feb. 2016].
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