BUSI 411 GROUP CASE Sections 1-3.docx

BUSI 411 GROUP CASE Sections 1-3.docx - Running Head GROUP...

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Running Head: GROUP CASE STUDY 1 BUSI 411 – D09 Liberty University Online Wegmans Food Markets Operations Tour Franchon Brown Travis Butler Yolonda Chapman Brittany Nations Caleb Simpson 12/18/17 Respectfully Submitted to Professor Jim Wagner
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GROUP CASE STUDY 2 Introduction Wegmans Food Market is a large grocery chain located in the United States, with operations of approximately 100 stores. There are stores located in New York state, New Jersey, North Carolina, Pennsylvania, and Virginia. The company sales total over $3 Billion annually and they employee over 45,000 people (Stevenson, 2018). Wegmans offer both superstores, as well as smaller stores. The superstores are extremely large compared to other super markets. Wegmans stores vary in their products and services offerings. The stores include a bakery, meat counter, deli, and produce section; however, many stores offer a larger variety of things. Some of these items include, a pharmacy, video rentals, flower shop, film development, dry cleaning, food courts, etc. The company appears to have a great employee base. Wegmans typically spends around $7000 for new employee training and only has about a 6% turnover rating (Stevenson, 2018). This show that the grocery chain really cares about their employees and the success of their employees. Wegmans also exhibits good quality and customer satisfaction. They have a wonderful return policy which includes either item replacement or refund, if the customer is dissatisfied with the product. They also offer new technology, such as online recipes, product information, and the ability to order online for delivery or pick up. This is a great convenience to its many customers. Operations Management Concepts As described in an article in the Management Science journal, operations management is the administration of business practices that concerns the design, production, and delivery of
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GROUP CASE STUDY 3 goods and services in the most efficient and least costly way possible. This concerns the design, production, and delivery of goods and services [Avi09]. This kind of management is about efficiently managing the production of goods and services, all while bringing down the cost of the production. There are numerous concepts in operations management that are utilized by a wide range of organizations around the globe with a specific end goal to create and convey their goods and services. Wegmans Food Markets Inc., one of the best staple chains in the United States, utilizes a few of these ideas in their everyday business operations, and have at last added to the organization's victories. Inventory Management Inventory management is one of the most crucial management activities achieved in the operations of a business. The textbook author, Stevenson, states that inventories are not only a necessity for operations, but they also contribute to customer satisfaction. Poor inventory management can obstruct company operations while reducing customer satisfaction and also increasing operating costs [Ste18]. With regard to inventory, an organization should attempt to
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