Managerial Systems and

Operations

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[1]

TABLE OF CONTENTS
PART1: PERSONAL LEARNING LOG..............................................3
1. Inventory Management........................................................................3
2. Improvements through projects...........................................................3
3. TQM and Lean......................................................................................4
4. Operation Management.......................................................................5
5. ICT System...........................................................................................5
PART 2: INVENTORY MANAGEMENT SYSTEM................................7
1. What is Inventory management system (IMS)?....................................7
2. Data flow diagrams: an approach for creating IMS..............................8
3. Case study: Marston Lodge..................................................................8
4. Conclusion (Part 2).............................................................................10
PART3: PLANNING FOR ICT SYSTEM DEVELOPMENT: THE CASE OF
MARSTON LODGE....................................................................11
1. Introduction........................................................................................11
2. Operations Management....................................................................12
2.1 Problems for Marston Lodge Operations.......................................12
3. Usability of ICT System for Managing Operations..............................14
3.1 Introduction to ICT System............................................................14
3.2 Importance of ICT System for Marston Lodge...............................14
4. Risk Matrix for ICT Development........................................................15
5. Work Break Down in Project...............................................................17
6. Project Team.......................................................................................18
7. Conclusion (Part 3).............................................................................18
REFERENCES...........................................................................20

[2]

PART1: PERSONAL LEARNING LOG

1. INVENTORY MANAGEMENT
Inventory management is a managerial process which is adopted by the
companies

to

monitor

the

manufacturing,

production,

supply

and

purchase of products. (Tempelmeier, 2011) It is an intra managerial system for

incorporating data through all locations. It involves the efficient usability
of units into and out of the inventory of an organisation hence controlling
the operations of the company (Slack and Johnston, 2007). However it is
not only documentation of raw materials but also operational processes.
Materials are tracked from their production houses to the point where
finished goods are created for identifying the needs and regulating the
ordering amounts and record keeping of finished goods (Muller, 2011).
From learning point of view from the lecture I learnt that inventory
managerial system takes in the concept of management structures which
are adopted by the organisations for directing their activities. These
activities are projected for achieving the goals and ambitions which are
affected by the activities of managers, resources, policies, people and
production. The system also utilises the best practices for executing
processes and productions. They are the step by step procedures for
operating businesses through appropriate implementation of policies.
They vary with respect to the type of data being managed. For example
the procedures can be used for meeting the health and safety
requirements of the company through a proper channel of management.
2. IMPROVEMENTS THROUGH PROJECTS
Business Process Improvement or BPI is a methodical approach for
business entities for optimising the management approach. This facilitates
the business entities for achieving more efficient results through
[3]

organising the cost and cycle times for product development while
recovering the quality. It is a division of organisational development for
accomplishing goals and objectives for increasing profit and performance
(Shtub, 2010). The organisations can accomplish its tasks through the help of
entrepreneurs and engaging people who own innovative thinking. Hence
the organisational culture is strong and is attained through integrity.
Presently the key challenge for all companies is to perk up the superiority
and quality of human life through improving the efficiency of its products
(Alder, 2003).
The working processes of organisations encapsulate projects or operations
which are possible through coordination among people, resources and the
method of execution of plans. Operations can repeat during working
processes while projects are provisional for achieving a target. Projects
include the development of innovative products, effecting or changing the
structural basis of organisation, creating a modified form of information
system and implementation of new business course of actions. Hence the
concept for appropriate management of conducting these operations,
projects and processes surrounds the concept of project management.
The outlines of the lecture helped me for clearing my concepts of
improving

project

management

in

organisations

for

my

future

employment.
3. TQM AND LEAN
Good quality products are said to have ground-breaking capabilities which
make them differ from the other products in the market. Quality
management is a methodology through which firms firstly understand the
needs of the customers and deliver them with the products that fulfil their
requirements while keeping the details of elements of quality. This in
return gives an evaluation about the organisational performance and
services. It also creates a stable worth in the eyes of stakeholders for
sustaining the operations of the firm. The efficient quality management

[4]

system makes certain customer loyalty for the organisation and it will be
at the forefront from its competitors (Womack, 1996).
I learnt from the slides that Achieving Competitiveness through Innovation
and Value Enhancement can be a strategy which can be adopted by firms
which is intended for recovering the performance of capital ventures in
the processes of industries through altering the adversarial behaviours.
There are eight main practices for every organisation to be followed
including:
Effectual project concept efficient team for project management
Effective supply chain interrelationship valuable communication and
management level undertaking the project risks efficient novelty and
continuous improvement project implementation efficient
measurement performance
These steps can be vital for me during my professional career as a project
manager.
4. OPERATION MANAGEMENT
The operation management refers to the utilisation of resources within an
organisation that are being utilised, combined and altered through a
controlled manner for adding up values in a management system. The
inputs are initiated by the operational managers to withdraw outputs.
Hence the managers have the liability for bringing out a proper plan that
makes an efficient use of possessions, facilities and knowledge available
in the production facility (Bales et al., 2004). Consequently the system
must be properly managed through scheduled updating for obtaining the
required services and controls must be implementing for quality control
parameters including inventory levels and expenditure.
From my prospective numerous multinational companies tend to operate
all week long. Hence for operations to be flourishing it is necessary for the
departments and management to cooperate and work as a team. Every
aspect which is behind the panorama should be invisible to the customers
[5]

and visitors for ensuring satisfaction and pleasant stay. This could increase
the competitive advantage in the businesses. Hence in the future if I have
the chance of managing operations of a multinational company I need to
certify all the necessities described in the lecture.
5. ICT SYSTEM
Information and Communication Technologies includes the usability if
devices that permits storage, retrieval, management, broadcasting and
receiving of digital data. The hardware for ICT includes computers, digital
cameras and scanners whereas the software includes standard offline
applications for data processing, specialist applications for computer aided
design and customer relations management. Hence the data obtained is
then processed through control systems, e commerce system and human
resources systems. The major key players for ICT include people, data,
procedures, hardware, software and information required for supplying
data, determine what needs to be done, administrative procedures
through physical components, applying software applications for retrieving
results from the processing data (Slack et al., 2007).
During the lectures I learnt that control over the inventory and supplies
are an integral part of companies as almost 90% of success depends upon
it. ICT system hence provides an easy solution for keeping away from
stock outs, preventing shrinkage and maintaining accounting systems.
Numerous companies have large sums of capitals tied to inventories
which can be old or outdated. These aspects can in return imbalance the
managerial processes of the organisation. Companies can benefit from
developing the inventory management system mentioned due to several
reasons

including

performing

daily

tasks

for

inventory expenditures and customer contentment.

[6]

transportation

costs,

PART 2: INVENTORY MANAGEMENT SYSTEM

1. WHAT IS INVENTORY MANAGEMENT SYSTEM (IMS)?
Inventory makes a significant part of the organisational assets. For large
companies large sums of money are paid for keeping and maintaining
them. Hence it is necessary for these organisations for properly manage
and control them for avoiding the expenditures for production rates,
overtime and sub-contracting (Tempelmeier, 2011). For these reasons
proper

management

of

inventories

is

necessary

for

running

the

organisation. It is also vital for controlling the goods and stock in hand and
for future use of manufacturing. The primary objectives for inventory
management include calculating the expenditures on with holding stocks,
analysing the order quantity which ultimately reduce the costs, for
deducing and deciding upon buying stock in bulk for getting a reduction in
price, avoiding stock outs and realising the limitations of Economic Order
Quantity or EOQ model (Guo, 2010).
For Marston Lodge Inventory management system can hold an utmost
importance as holding stock can be costly for business organisations due
to the high value of products. Even if the quantity of the stock is limited
the expenditure can be high. The Lodges manager, Thomas Cranford can
use the option of Just in Time policy for stock holding which takes the
stock only when it is needed (Stevenson, 2007). However such policies do
not handle the emergency cases due to large variations and uncertainties.
The expenditure for holding stocks can be upon warehouse, interest
charges, harm to the materials while in storage, ordering costs and
delivery costs. They also include the wages or rental charges. Hence the
handling of inventory can give rise to different problems and complexities
resulting in business failures. For instance if there is no withholding stock
or inventory item the production or manufacturing can be halted resulting
in loss of organisation. Hence these problems lead to the development of
an effective inventory management system which can play a significant
[7]

role in companys economy and profit margin. The inventory management

control involves the proper planning and organisation of quantity of items
to order, periodicity of stock coordination and planning the above aspects.
Hence for any organisational development of Marston Lodge there is a
need for using suitable approach to design inventory levels while
enhancing the coordination among every department of organisation
(Zanoni et al., 2004).
2. DATA FLOW DIAGRAMS: AN APPROACH FOR CREATING IMS
Data Flow Diagrams or DFDs are the means of representing the progress
of data among internal and external entities through processes which
stores data within a system (Sun et al., 2006). For organisational
development of Marston Lodge there is need to organise processes which
include the actions which are performed against a data contained a
system. It can have more than one data flow among entities and are used
to interconnect the processing units of the system. Additionally data flow
is the path through which data progresses from one part to another and
show the flow of data. Entities are the destination of data within the
organisation which can be managers or any department. For Marston
Lodge the entities include warehouse and supplier, customer, processing
unit, manager and accounts. The processes of Marston Lodges DFD can
be divided among several other processes for any management system.
The business models can also be taken as system for which DFDs can play
a vital role for solving several strategic issues especially inventory
management (Golab, 2003).
3. CASE STUDY: MARSTON LODGE
The case study of Marston Lodge raises an issue of developing a DFD for
inventory management system due to the lack of coordination among
organisation. For increasing large amounts of profits within a short period
it is necessary to organise each entity of the organisation. The current
UKs Hotel industry is facing a downfall as it is highly dependent upon
[8]

external suppliers for fulfilling the internal needs. In addition people are
required to pay for non-required and non-business items due to the
change in legislations. For creating an impression on people and brand
image there is a necessity to create cost efficient techniques for the
maximisation of profits. The market of hotel management is becoming
fierce as hotels are promoting their names through marketing. This also
requires large investments. Being a four star hotel Marston Lodge needs
to focus upon its internal organisation including the development of
valuable inventory management system.
The inventory management system can be represented as follows:

Inventory Management

The data flows are shown with arrowheads through which data is
transferred from one entity to another. When Warehouse and supplier
[9]

entity is given order of purchase the delivery details along with invoice is
transferred through the inventory system of Marston Lodge the payments
are received back. When the customer gives demand or an order an
invoice is given back through coordinating among different entities. Hotel
Manager, Thomas Cranford is given feedback regarding stocks is given
with updated data. This data is returned along with feedback is returned
to the system. The processing unit includes the kitchen of Marston Lodge
which gives the demands of providing stock for preparation of meals.
Kathryn Hughes can then encounter the demand through coordinating
warehouse and supplier entity for fulfilling the demand by giving a
feedback of providing goods. David Johnson who is the bar manager and
Simon Ormroyd responsible for managing the wine cellar can take help
through the system for keeping a check. Sonia Prenterhgrass the head of
facilities management can take feedback from the response of processing
unit of the Lodge if there is demand from the customer for any
requirement. As ZaynorPolowski is the head for financing, he can take
advantage of the accounting system for updating the Accounts entity.
Hence the demand of any customer can be fulfilled through proper
maintenance of inventory management system.
4. CONCLUSION (PART 2)
Control over the inventory is an integral part of companies as almost 90%
of success depends upon it. Inventory management system hence
provides an easy solution for keeping away from stock outs, preventing
shrinkage and maintaining accounting systems. Numerous companies
have large sums of capitals tied to inventories which can be old or
outdated. These aspects can in return imbalance the managerial
processes of the organisation. Marston Lodge can benefit from developing
the inventory management system mentioned due to several reasons
including performing daily tasks for transportation costs, inventory
expenditures and customer contentment. The logistic system can also be
improved and there can be remarkable reduction in importing materials
which can save large amounts of money. Hence adopting this business
[10]

trend can also synchronise the supply chain of products which are
manufactured locally. Consequently the whole scenario can give an
assistance to raise profit margin within a short period for Marston Lodge.

[11]

PART3: PLANNING FOR ICT SYSTEM DEVELOPMENT: THE

CASE OF MARSTON LODGE
1. INTRODUCTION
Located by the side of hillside at North Hill, Minehead Marston Lodge is
one of the exquisite motels which provide an overview of Exmoor. It offers
guests with spacious and refurbished rooms. Encompassed with natural
beauty it provides people with all kinds of facilities. From a financial
management perspective Marston Lodge holds a strong position with well
established organisational structure. However the owner still demands an
increase in profit margin. This issue needs to be addressed and can be
achieved through proper inventory control management. There are
numerous theoretical and practical backgrounds which can resolve this
issue including data flow diagrams and context diagrams. There are also
tools and techniques supporting inventory and supply chain management
systems

including

dynamic

simulations,

linear

and

mixed

integer

optimisation, inventory analytic methods and simulation techniques.

Managerial system takes in the concept of management structures which
are adopted by the organisations for directing their activities. These
activities are projected for achieving the goals and ambitions which are
affected by the activities of managers, resources, policies, people and
production. The system also utilises the best practices for executing
processes and productions (Tiwana, 2000). They are the step by step
procedures for operating businesses through appropriate implementation
of policies. They vary with respect to the type of data being managed. For
example the procedures can be used for meeting the health and safety
requirements of the company through a proper channel of management.
Management system is also a managerial process which is adopted by the
companies

to

monitor

the

manufacturing,

production,

supply

and

purchase of product. It is an intra managerial system for incorporating

[12]

data through all locations (Motwani et al., 2003). It involves the efficient
usability of units into and out of the inventory of an organisation hence
controlling the operations of the company. However it is not only
documentation of raw materials but also takes in the operational
processes which undergo numerous stages. Materials are tracked from
their production houses to the point where finished goods are created for
identifying the needs and regulating the ordering amounts. It also involves
the record keeping of finished goods which are prepared for shipment.
Risk matrix gives an idea about risk assessment and level of risk in which
firms are through assigning them categories (Hellsten, 2000). Hence this
approach provides a mechanism through which decision making for asset
management can be done for Marston Lodge case study.
2. OPERATIONS MANAGEMENT
The operation management refers to the utilisation of resources within an
organisation that are being utilised, combined and altered through a
controlled manner for adding up values in a management system. The
inputs are initiated by the operational managers to withdraw outputs.
Hence the managers have the liability for bringing out a proper plan that
makes an efficient use of possessions, facilities and knowledge available
in the production facility. Consequently the system must be properly
managed through scheduled updating for obtaining the required services
and controls must be implementing for quality control parameters
including inventory levels and expenditure (Stevenson, 2007).
2.1 PROBLEMS FOR MARSTON LODGE OPERATIONS
Hotels including Marston Lodge tend to operate all week long. Hence for
operations to be flourishing it is necessary for the departments and
management to cooperate and work as a team. Every aspect which is
behind the panorama should be invisible to the customers and visitors for
ensuring

satisfaction

and

pleasant

stay.

This

could

increase

the

competitive advantage in the hotel business (Krajewski, 1999). However

[13]

there are numerous factors in Marston Lodge that needs attention and
improvement, mentioned below:
Resources
For Marston Lodge the resources include materials, inventory and capital
or fund inputs to the production processes. The Human resources are
considered to be the vital component for organisation including Marston
Lodge. With the technology advancements on the rise an extreme
quantity of human input can aid in planning and controlling activities.
Through the usability of intellectual abilities of people of Marston Lodge,
managers can reproduce the value of their employees three folds.
Material resources including inventories, supplies are the major assets of
Marston Lodge which can be regulated with the capital including stocks,
taxes and bonds for regulating the flow of the resources. Hence there is a
need for properly organising the resources of Marston Lodge which needs
to be fulfilled by the management.
Front desk
The front desk services are considered as the major helping hand for hotel
management. The front desk officers needs to have an increased potential
for greeting the guests and should be present 24 hours. Hence for
effectual performance there is a need for Marston Lodge to develop
competent and resourceful checking systems which can readily provide
the information for checking in and out, making reservations, coordination
with the housekeeping staff and managing inventories and supplies for
rooms and kitchen. Additionally financial reviews are also carried out by
the front desk officers. Hence there is an urgent necessitation for the
management of Marston Lodge to adopt new strategic way for managing.
Food and Beverages
Marston Lodge endow the customers or guests with full service or
continental breakfast. It the responsibility of kitchen manager to generate
daily menus keeping in mind the preparatory time and delivery of food
[14]

while maintaining the quality. The staffs of Marston Lodge include head
chef and prep cooks. However the inventory management for kitchen
supplies is not efficient with respect to the demands. Hence the operation
managers should consider this aspect for better performance in future.
Maintenance and Housekeeping
In Marston Lodge the housekeeping department is considered to be the
fundamental part of hotel management operations. Cleanliness and
hygiene is the most fundamental aspect which should be considered for
the guests experience. The linen and bedding should be changed
regularly along with the maintenance of common areas and lounges.
Heavy duty cleaning should be performed every month for washing
windows, polishing furniture and carpets. However the guests are very
disappointed

from

the

performance

of

staff

with

respect

to

the

maintenance of cleanliness and hygiene. This negative feedback from the

guests can thus disapprovingly harm the fame of Marston Lodge with
affecting the managerial operations. Hence a proper system needs to be
developed for the lodge in order to be successful.
3. USABILITY OF ICT SYSTEM FOR MANAGING OPERATIONS
3.1 INTRODUCTION TO ICT SYSTEM
Information and Communication Technologies includes the usability if
devices that permits storage, retrieval, management, broadcasting and
receiving of digital data. The hardware for ICT includes computers, digital
cameras and scanners whereas the software includes standard offline
applications for data processing, specialist applications for computer aided
design and customer relations management. Hence the data obtained is
then processed through control systems, e commerce system and human
resources systems. The major key players for ICT include people, data,
procedures, hardware, software and information. These players are
required for supplying data, determine what needs to be done,
administrative

procedures

through
[15]

physical

components,

applying

software applications to these components and retrieving results from the

processing data (Iskanius, 2006).
3.2 IMPORTANCE OF ICT SYSTEM FOR MARSTON LODGE
The usability of ICT for Marston Lodge includes the integration of
telephonic networks with the computerised system through a linking
system. This can bring about financial savings for the lodge. For the front
desk information handling this system can be proven helpful through
making reservations directly rather than manually (Auinger, et al., 2008). The
manual system includes the writing of texts into catalogues which
increase the time efficiency and loss. Additionally the approach of travel
agents by the guests can also be a disadvantage and can result in a
communication breakdown. The front desk of the Marston Lodge can take
advantage through making direct reservations and the protection of
lodges personal information. Guests can easily reserve their rooms prior
to their arrival and without passing the financial data. This can
consequently be advantageous for the management for accommodating
certain numbers of people. The ratings of the resort can also be increased
through proving the level of hospitality (Auinger, 2009).
Control over the inventory and supplies are an integral part of companies
as almost 90% of success depends upon it. ICT system hence provides an
easy solution for keeping away from stock outs, preventing shrinkage and
maintaining accounting systems. Numerous companies have large sums
of capitals tied to inventories which can be old or outdated. These aspects
can in return imbalance the managerial processes of the organisation.
Marston Lodge can benefit from developing the inventory management
system mentioned due to several reasons including performing daily tasks
for

transportation

costs,

inventory

expenditures

and

customer

contentment (Konig, 2009). The logistic system can also be improved and
there can be remarkable reduction in importing materials which can save
large amounts of money. Hence adopting this business trend can also
synchronise the supply chain of products which are manufactured locally.
[16]

Consequently the whole scenario can give an assistance to raise profit

margin within a short period for Marston Lodge.
People tend to visit Marston Lodge for relaxation and hire the location for
organising events. Despite of its natural beauty there are few drawbacks
for which the management is held accountable. Feedback from customers
shows lack of cleanliness and food items. In addition employees also
complain lack of managerial system. The top chef, Kathryn Hughes intakes
the meat and vegetables in the vicinity of lodge. The organic farms are
located at Wales in addition to dairy products. The fresh fruit is exported
from other countries. Hence through looking at the overall picture it is
observed

that

currently

Marston

Lodges

management

lacks

the

corporation among departments for maintaining stocks. The employees

also state that often demands of specific food items by the customers
have to be declined due to unavailability of stock. The profit margin
cannot be increased without the presence of proper management system.
Hence appropriate ICT system for organising the managerial tasks can
help the Lodge to increase profits (Korpelainen, 2010).
4. RISK MATRIX FOR ICT DEVELOPMENT
Risk refers to the quantity of damage that is expected to occur during a
period due to a mishap. The risk can be statistically calculated for the
probability through the extent of harm caused multiplied by the severity.
Hence the quantity if risk is classified into smaller numbers of levels as
the calculation of probability is not estimated with full accurateness and
precision (Garvey, 1998).
The Risk Matrix can be developed for Marston Lodge for the development
of ICT system (Rebonato, 2011). It can be utilised for risk assessment for
defining the numerous levels of risks as the product of harm probability
groupings and harm severity groupings.
Risk
ID
R1

Type
Risk
Financial

of

Description
ITC projects are erroneously

[17]

Impa
ct
0.6

Likeliho
od
0.8

Result
23

Risk
Level
High

Risk
R2

Financial
Risk

R3

Technology
Risk
Security Risk

R4
R5

Information
Risk

R6

Security risk

R7

Shareholder
risk

R8

Retailer Risk

evaluated through the usage

of ROI
ROI should not be a single
factor for assessing ITC
system
High costs with the providers
taking advantage of lock-in
Direct intervention of data
while
dealing
with
technology
ERP
systems
and
ecommerce can be wrongly
managed and handled while
dealing with inventories and
suppliers
Hacking and interference in
data for password securities
The changes are not done
until
approved
by
all
shareholders hence negating
up gradation
Additional contracts while
dealing with software and
hardware
suppliers
for
implementation
of
networking
and
security
system
Al
5 1
m
os
0
t
(R
Ce
7)
rta
in
>8
0
%
(5)
Likely
50 80%
(4)
Possible
30 50%
(3)
Unlikely
10 30%
(2)
Rare
<10%
(1)

Risk
Criteria

1
5

2
2

0.2

0.2

Low

0.6

0.8

25

High

0.5

0.5

16

Medium

0.6

0.8

22

High

0.8

0.8

22

High

0.6

0.4

10

Medium

0.7

0.6

13

Medium

25
(R3)

(R
5)

12

16

22

12

15

10

Insignifi
cant (1)

Minor
(2)

Modera
te (3)

Major
(4)

Catastrop
hic (5)

High

(R2)

Mediu
m

[18]

(R4)

(R6)

(R8)

Low

5. WORK BREAK DOWN IN PROJECT

The work breakdown structure refers to the disintegration of management
systems into smaller components. These components include the
products, services or data which provides the whole agenda for detailed
cost estimating and controlling the schedule development of control
(Maloney, 2012).
The WBS is necessary for ICT as it helps to define the tasks and subtasks
for giving out priorities for ensuring a smooth evolution. The performance
of tasks requires the parallel presentation of the activities. However the
order requires the proper usability of resources.

The Work Breakdown

Structure (WBS) is utilised for signifying work packages and budding out
and tracking the expenditure and agenda for the project. The work is
divided into everyday jobs, each one of which has a director, a responsible
establishment, expenses and schedule, practical scope and to the scope
possible, a specific geographic piece of the machine (Golany, 2012).
A WBS for Marston lodge will make available a road map for scheduling,
supervision, and managing all aspects of a project, including the following:

Classification of work
cost estimation
Financial plan
Time approximation
scheduling
Resource allotment
Expenditures
altering the project plan
Efficiency
Presentation

The WBS for Marston Lodge can be created through the splitting up of
elements at numerous levels through varying bases. It is vital that if the
ICT project has to be implemented a new and up to date WBS must be
developed including:

[19]

power house for inventory keeping

electrical generation system
breakdown structure
electrical transmission system
inventory receiving equipment
inventory processing equipment
inventory packaging equipment
inventory shipping equipment
inventory keeping office
first floor
second floor
penthouse
grounds
phase one, planning
phase two, execution
phase three, control
phase four, closure

6. PROJECT TEAM
The project team for the proposed ICT project will be based on existing
and new staff members. The detail is given as follows:
Existing staffs

Thomas Cranford The hotel manager

James Thoma Hotel Operational manager
Sonia Prentergrass Head of facilities management
KiriBawe ICT manager maintains hotel systems and ICT
infrastructure
John Smith Head of hotel security
Darren Dawes Hotel maintenance manager
Zaynor Polowski Hotel Business manager
Margaret McDonald Contract manager
Sandie Sorraya is a KTP associate developing marketing strategies

New staffs
A separate project manager for ICT project
Two or three specialists who can help in developing project and
maintaining if after accomplishment
7. CONCLUSION (PART 3)

[20]

The project planning is the vital action of project management in starting

any project. Many project management tools are present which helps the
project manager to programme the project activities in which Work
Breakdown Structure (WBS) and Risk Matrix are popular and used by most
of the organisations. Marston Lodge is in need of developing a systemised
scheme for the record keeping of finished goods which are prepared for
shipment. Risk matrix gives an idea about risk assessment and level of
risk in which firms are through assigning them categories. Hence this
approach provides a mechanism through which decision making for asset
management can be done for Marston Lodge case study.

[21]

REFERENCES
PART 1
Bales, R.R., Maull, R.S., and Radnor, Z.(2004) The development of supply
chain management within the aerospace manufacturing sector, Supply
Chain Management: An International Journal, Vol. 9 Iss: 3, pp.250 255
Lock, D. (2003), Project Management, 8th ed, Aldershot,Gower
Muller, M. (2011). Essentials of inventory management. AMACOM Div
American Mgmt Assn.
Slack, N., Chambers, S., and Johnson R.(2007) Operations Management,
5th Ed, Harlow, Pearson Ed
Shtub, A., & Karni, R. (2010). Business process improvement. In ERP (pp. 217-254). Springer US.

Tempelmeier, H. (2011). Inventory management in supply networks:

problems, models, solutions. Norderstedt: Books on Demand.
Womack and Jones (1996) Lean Thinking, London, United Kingdom
PART 2
Golab, L., & zsu, M. T. (2003). Issues in data stream management. ACM
Sigmod Record, 32(2), pp 5-14.
Guo, A. (2010). Economic-Order-Quantity Model.
Stevenson, W. J., & Hojati, M. (2007). Operations management (Vol. 8).
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