The way operational efficiencies can be improved to successfully meet business objectives using appropriate management and leadership approaches.

The ratio between an output which is gained from business and an input to run business operations is called as operational efficiencies (Paani,2009). Treacy and Fred Wiersma have been described that three generic competitive strategies, or value disciplines as operational excellence, customer intimacy and product leadership.

Figure 1: Competitive strategies for market leadership

Source: (Wiersma,1997)

Operational efficiencies can be improved through inventory control, quality control and supply chain management as below.

Inventory control

Inventory control is one of the most complex systems in all enterprises. It can determine what the company has, if the company is able to do so, and whether the funds and investments are on shelves that collect dust, or work for business. The management controls the inventory systems that determine how the enterprise's balance is managed (Gunasekaran,2003). The stock control of the company determines how the stock is to flow. Checks and controls whether an employee have products in his hand, or whether customers are obliged to wait for deposited items.

 Quality control

The fiscal element of quality is something more than a valid, reliable product that satisfies the customers. It is much greater than ensuring that the mark meets the expectations. The quality may involve the overall performance of all operations and guidelines of the undertaking as a whole. For example, it can be seen how employees can perceive the ability of the enterprise to provide and protect employees so that they can focus exclusively on customer satisfaction. The organization must be integrated in a way that is logistic, allowing for easier work flow and less distractions.

Supply Chain Management

The Supply Chain Management is the whole process from start to end, and shows how a customer receives the product or services of the enterprise (Sarkis,2005). This shall be included in the purchases and purchases, storage, transport and delivery. Supply Chain Management also includes the implementation of technologies to support staff in the process, the development and maintenance of professional relations with the suppliers and the relevant external employees of the process, which could create a significant malfunction in a company without thorough and sustainable coordination.

References

Saranga, H. and Phani, B.V., 2009. Determinants of operational efficiencies in the Indian pharmaceutical industry. International transactions in operational research, 16(1), pp.109-130.

Mandal, P. and Gunasekaran, A., 2003. Issues in implementing ERP: A case study. European Journal of Operational Research, 146(2), pp.274-283.

Baltuška, A., Wei, Z., Pshenichnikov, M.S. and Wiersma, D.A., 1997. Optical pulse compression to 5 fs at a 1-MHz repetition rate. Optics letters, 22(2), pp.102-104.

Hervani, A.A., Helms, M.M. and Sarkis, J., 2005. Performance measurement for green supply chain management. Benchmarking: An international journal, 12(4), pp.330-353.