Business and Management
In 5 written pages, please respond to the following:
Scenario: Assume that you are an employee in this publicly-traded company (Nike), and your supervisor asks that you prepare a condensed operations management manual that can be used to better analyze the company’s operations. In addition to communicating and sharing key operations management concepts in this short-written report, your supervisor also wants you to discuss some items below using real-life data from the company you selected.
Your supervisor specifically asks you to do the following:
(a) Explain the overall goals of operations management.
(b) Explain the lean operations approach and how it can be used in the company’s current production of its goods (or services).
(c) Discuss key concepts surrounding how to manage, control, and measure ‘quality’ within the organization.
(d) Considering the company’s impact on society, discuss why ethics and social responsibility are important in operations management.
(e) Discuss one technology that the company can use in order to improve its operations.
(f) Using the three most recent income statements (e.g., FY2019, FY2020, and FY2021) from the selected company, please do the following:
- For each of the three most recent years, divide COGS (Cost of Goods Sold) by Total Sales Revenue.
- Analyze the relationship between COGS and Total Sales Revenue. Does it appear that this company is trying to implement a lean operations approach? Does it appear that the company is succeeding in its efforts? Please explain.
- Using the three calculations of the [COGS / Total Sales Revenue] ratio, please apply the moving average technique to forecast the ratios for the next two years.
- What do you predict will happen to the [COGS / Total Sales Revenue] ratio in the next two years? Please explain.
- There should be Introduction and Conclusion sections.
- Papers need to be formatted in proper APA 7th Edition style.
- It requires at least 5 peer-reviewed sources for your references.