How to Control the Dreaded Loss of Circulation

Talk to any individual who works at management level in an oil company and they’ll all tell you the same thing; the biggest problems usually arrive from a loss of circulation. They may have found the perfect drilling location, got all of the parts delivered on time, but once the process has started there is nothing to determine whether or not problems will occur in relation to circulation. Continue reading “How to Control the Dreaded Loss of Circulation”

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China Sourcing Agent: Ways To Hire The Best One

If you are looking for a reliable and trustworthy company who can help you import products from China, then you can get to choose from a huge list of companies. Look for a reliable and trustworthy agent who has huge years of experience, excellent professionalism to ensure you with safe and smooth shipping process. One of the best ways to run a business smoothly is with the help of a china sourcing agent. To put it simply, most of the business entrepreneurs rely on this kind of agent to get the work done. It’s mainly because hiring a sourcing agent can offer you with a lot of benefits. Now, keep reading this post to learn a lot more. Continue reading “China Sourcing Agent: Ways To Hire The Best One”

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Setting Up a Courier Service Business

If you love to drive, then a courier job is for you. You can set yourself up as a courier without a big investment and you don’t even have to quit your job. There are over 1,000 courier companies across the UK, with some companies having multiple offices in the big cities across the country. Couriers are self employed, but they often hold contracts with courier companies. This means that it is easy to pick and choose when you work, so you can work it around your current job. Continue reading “Setting Up a Courier Service Business”

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Ensuring wellbore integrity

Wellbore integrity focuses on the pressure limits found in the upper and lower wellbore as well as the optimum mud weight window. Without the proper drilling fluid, the wellbore integrity can be comprised.   Drilling fluids often referred to as mud is essential and it performs various functions to ensure all works properly. The fluid aids in helping maintain the pressure in the borehole, allows the ability to stop drilling with causing damage to the tricones, and aids in drill cuttings. Drilling muds offer various functions according to the chemicals that were used in the creation of the mud. Continue reading “Ensuring wellbore integrity”

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Saving Money On Fleet Vehicles

Depending on your business, your fleet vehicles might be a small but valuable asset or an absolute cornerstone of your operations. Whichever applies to your company, it’s important to make sure you’re making the most of your fleet – and getting the best value for money, too. Continue reading “Saving Money On Fleet Vehicles”

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How To Start A Hairdressing Business

Hairdressing businesses have always been a very popular choice amongst young entrepreneurs, as a sound, and bankable investment. Being that haircuts, much like food, are an essential aspect of modern life, there will always be a market for new hairdressers and hairdressing businesses. Below is a list of some of the essentials you must know before considering a venture in this field.

Continue reading “How To Start A Hairdressing Business”

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Protect your Business with a Courier Insurance Policy

 Couriers are responsible for the safe delivery of clients’ goods during transit, and they are also out on the roads more frequently than other motorists making them higher risk. This means that ordinary vehicle insurance will not cover you if you were to ever encounter any problems during transit. There is always risk of damage or loss of items that you are carrying, and this is why you need an insurance type called courier insurance. This varies in terms of price and cover, which will depend on the type of motorcycle or van that you use. Continue reading “Protect your Business with a Courier Insurance Policy”

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Why your Business Needs High Quality Fleet Management

For many businesses their biggest investment will be a fleet of vehicles, and the upkeep on this can be both expensive and complex. When you own and regularly use a fleet of vehicles for business you will have to consider vehicle financing, tracking and diagnostics, driver management, fuel management, health and safety and vehicle maintenance amongst other functions. As you can see this can cause a real headache if there is not a proper system in place to manage every aspect of your fleet. Seeing as this is such a large part of your operation and key to your success, it means that it is essential that you look for ways to ensure the smooth running of your entire fleet of vehicles. Continue reading “Why your Business Needs High Quality Fleet Management”

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Improve your Efficiency with a New Storage Solution

 A business that runs efficiently is a successful business. When your operation is running efficiently it makes everything much simpler, faster and better for both you and your customers. This is true of all businesses in all different industries. One of the more common issues that many businesses face which stops them from running efficiently is their storage system. If your business owns a warehouse for storage then this will be the hub of your operation, and you will need it to be easily accessible and well organised. Too many organisations warehouses are poorly managed and arranged, and this makes it hard for them to succeed as it is difficult to locate and move items in and out of the warehouse. Continue reading “Improve your Efficiency with a New Storage Solution”

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Green Shipping: Putting the Pressure On

Maersk. That one word is the name of a company, one which affects your life a great deal considering it’s likely you’ve never heard of it. The giant Danish conglomerate (also known as A.P. Møller – Maersk Group) is involved in a wide variety of different sectors of business. The one we’re going to focus on is its shipping arm, known as Maersk Line. Since 1996, Maersk has been the largest container ship operator on the planet. The multi-billion dollar operation is slowly but surely changing how it works, and these changes could have pretty major effects on the shipping industry as a whole. Continue reading “Green Shipping: Putting the Pressure On”

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Supplier selection criteria and models

Purchasing is among the most important activities in supply chain management, since it is the primary point of contact with most supply-chain partners. A major area in purchasing management is that of Supplier Selection Problem (sometimes called the Vendor Selection Problem). Research in this domain started in the early 1960s and over 175 studies have attempted to address this highly critical issue of procurement management. “Vendor selection criteria and methods” have reportedly been the highest area of interest in operations management research.

A wide variety of selection criteria have been used in different studies for the evaluation of suppliers which have varied due to the differences in requirements in different industries and also often had been purely firm specific. Typically the variety of supplier selection criteria that has been used has exceeded 50 criteria in over 65 research papers working on finding new criteria for evaluation of suppliers. These criteria have been enlisted in the matrix shown below.

Some of the most popular criteria in supplier selection which has been used in over 10 research papers and have also been widely cited are relative price, compliance with the delivery schedule, quality of the delivered goods to specifications, production capabilities of the supplier, geographic distance (of the warehouse), technical capability of the supplier, management capability of the supplier  and financial position of the supplier. All these supplier evaluation criteria have found massive application in the studies in this domain and are marked by subtle differences in terms of relative importance, as perceived by senior procurement practitioners.

Similarly another area of keen interest is the models which has been used to provide decision support to the supplier selection problem. Over 35 different mathematical models have been used for providing decision support to this extremely critical issue of procurement management. A study by Ho, Xu and Dey (2010) reveals that the Analytic Hierarchy Process, Mathematical Programming and Data Envelopment Analysis are the top 3 modeling paradigms used to provide decision support in supplier selection problems. Many other novel techniques like multi-attribute-deterministic models; mixed mathematical programming, outranking techniques; weighted sum of products; interpretive structural modeling; fuzzy set theory, neural networks; intelligent agent based techniques; TOPSIS, fuzzy multi-attribute frameworks; rule based reasoning models and multi-objective programming models have also been used. Typically the evolution of supplier selection models have been as described pictorially below, due to the evolution of the nature of selection criteria, from quantitative to a mix of quantitative and qualitative criteria.

As the trend highlights, there is a paradigm shift in the nature of the mathematical models used for supplier selection with a change in the requirements in the nature of business, mostly in the manufacturing industries and the maturity of the discipline. No wonder the area has attracted so much of attention to the consulting practitioners and theory developers in academia alike.

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The content in this article is an original piece of research made to further the purpose of education only. You may NOT copy, distribute and transmit the work for any purpose without the express written permission of the author. Neither you may alter, transform, or build upon this work without express written permission from the author (arpan.kumar.kar@gmail.com).

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Business Process Re-engineering

Business process re-engineering is the analysis and re-designing of workflows and business processes within a firm. Business process re-engineering is also known as business process redesign, business process change management, or business transformation. Typically Business process re-engineering happens in 4 sequential steps , in a firm, as described below.

  1. Typically, the first step for a BPR is planning for the same. First of all the deliverable of the process under scanner needs to be clarified. Then it is important to define the scope of the project. Often it is seen that projects fail to have a well defined deliverable and scope, and this creates major management problems. Then within the project, identifying the critical mini-projects and their major drivers is crucial for success of a business process re-engineering operation. After the major drivers are identified, then the focus should be to identify the slack resources, which are less utilized and possible bottle-necks in existing processes.
  2. In the next step, a deeper study of the existing business processes is required. In this stage, normally the focus remains on gathering internal information about the processes, map existing capabilities with resources and more important map processes with under-utilized resources and slack variables. This often helps to determine the bottle neck in the operation of the macro process. Then a mapping needs to be done of the IT capabilities of the process with the process stages and internal capabilities (of the work force)
  3. In the third step, major process issues need to be identified. Often it may appear that there are multiple optimal solutions. Process gaps need to be identified and areas of major restructuring needs to be identified. Also focus should be to identify and nullify slack resources at every stage.
  4. Then a cost benefit analysis of all the possible optimal solutions needs to be conducted thoroughly. While analyzing optimal solutions, it is extremely crucial to investigate inter-process and intra-process linkages which may get disrupted during the implementation of the business process re-engineering plan. Finally a road-map or a blue-print for the implementation of the best business process re-engineering plan needs to be chalked out. Then a case study is developed in the last stage to set tangible targets during the business process re-engineering process implementation.

The processes for a successful BPR has been described thoroughly pictorially in the diagram below.

After a business process re-engineering project is completed, a major challenge that the management faces is that of change management. Organizations have a culture and an identity of their own. After major changes happen through the implementation of a business process re-engineering plan,major disruption of the culture and organizational harmony is likely to happen if substantial measures are not taken for managing the change. Substantial effort has to be taken by the top management to drive home the change, without coercion. Extra efforts on training the work-force and regular intervention of the top management to facilitate the process will create a major impact on the success of a business process re-engineering process. Efficient change management is the biggest factor which causes a business process re-engineering exercise to be significantly successful.

Finally, it is important not to forget the main goals for which the business process re-engineering was conducted in the first place. The project needs to be managed and metrics should be driven in place to ensure the proper management of the project post re-engineering. Also it is important to remember that performing BPR as a one-off exercise with limited strategy alignment and long-term perspective is unlikely to deliver any real benefits for the firm.

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Have you read this article : 4 Cs of Marketing – The Advanced Marketing Mix

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