7BSM2003 Operations and Business Analytics Assignment Sample

 

Module Code And Title : 7BSM2003 Operations and Business Analytics Assignment Sample

 

7BSM2003 Operations and Business Analytics Assignment Sample 1
7BSM2003 Operations and Business Analytics Assignment Sample

1.0) Introduction

The case study of Students’ Union shop reveals that the organization has been facing a huge problem regarding providing an appropriate service to their consumers. According to the case study of the Students’ union shop the number of consumers in their shops have been increasing rapidly and it has become impossible for the owners and management of the shops to run their business operation smoothly with such a limited workforce.

The management of the shop has been facing the problem related to the shortage of cashiers. The shop has been running their business operation with just three cashiers and the number of consumers in the shops has been increasing. That is why the management and the owner of the shops are worried that the increase in the number of consumers and the limited workforce of cashiers can increase the que in their shops.

Such an increase in the que can decrease the revenue of the shops as there is a high chance of shifting the consumers for the long waiting in the shop.

The shifting of consumers can decrease the revenue of the organization and they can face various hindrance in their appropriate business operation. Any type of obstacles in the business operation can make a great impact on the efficiency and effectiveness of the organization. The effectiveness of an organization and the profitability of the organization are interconnected.

So it can be said that any type of impact on the effectiveness of the business operation of an organization can decrease the profitability of the organization.  This paper is going to discuss the issue related to the various aspects of the students’ union shop. This paper is also going to analyze the data with the help of queuing theory for understanding the service time, Arrival of the consumers, waiting time etc.

2.0) Discussion

The whole case study of the Students’ union shop reveals that the shops are now operating with three cashiers and they have the capacity of increasing the number of cashiers up to 6. The inclusion of extra cashiers will increase the expense of the shop also. That is also a great concern for the management of the shop.

On the other hand, it is very important for the management of the shop to increase the number of workforce in their cash department otherwise there is a huge chance of decreasing the number of their consumers. The appropriate data analysis will be helpful for understanding the shortcoming of the organization and where the focus of the management of the shops needs to be given.

2.1) Role of Data, Analytics and Associated Technologies in Adding Value

Analysis of appropriate data is very effective for revealing the shortcoming of an organization in an effective way. An organization can choose their future strategy after analyzing the data in an appropriate way. So, it can be said that the effective analysis of data is one of the most important things for any organization.

The effective data analysis of the student union will also be helpful for understanding various problems of the organization. It will also help the organization to choose an appropriate strategy which will be very beneficial for their effective business operation. Any type of obstacles or hindrance in the business operation decreases the efficiency of the organization.

Therefore it is very important for any organization to take appropriate steps which will be very beneficial for eliminating those hindrances and obstacles. On the other hand, the appropriate data analysis is very effective and beneficial for understanding the financial condition of an organization in an appropriate way.

In the context of the students’ union shop it is very important to say that the appropriate analysis of data will be very helpful and very effective for them to understand the shortcomings. The shop owners and the management of the shop are now thinking whether the inclusion of the new staff in the cash department will be helpful or not. The appropriate data analysis of their business operation, number of consumers, revenue will be very helpful for giving them the idea about this thing in an effective way.

2.2) Problems

According to the case study of Students’ union shop, the management and the owners of the shop have been facing a major issue related to the4 appropriate business operation(Day, et al. 2018). The case study reveals that the number of consumers of the shop has been increasing in an immense way and there is a shortage of cashiers in their workforce. Such shortage of the cashier has been creating an adverse situation for the organization.

The shop is operating with 3 cashiers but the shop has the capacity to increase the number of cashiers to 6. There is no doubt that the increase in the number of cashiers will decrease the pressure of work for the three cashiers(Setiawan, et al. 2020). The recruitment of the cashier will also increase the efficiency and effectiveness of the shops as it will decrease the waiting time of the consumers but the main problem of recruiting the extra workforce in the cash department is, it will increase the expense of the shop.

The recruitment of an extra cashier will increase the cost of the company by £ 20 per hour. The increase in the expenditure can be very crucial for an organization. It can increase the cost of production and cost of finished products. On the other hand the increase in the expense of an organization can decrease the profitability of that organization.

The appropriate analysis of data will be very effective for the organization to understand all the things related to the organization and where they should focus. The proper understanding related to the service time, que, interarrival time of consumers will help the management of Students’ union shops to understand whether they should increase the number of cashiers or not. It will also help them to get the appropriate idea about eliminating such problems.

3.0) Recommendation

After analyzing all the data of Students’ Union Shop, it can be said that the management and the owners of the shop should think about increasing the number of workforce in their cash section. The data analysis of the student union shop reveals that the increase in the number of workforce can be very beneficial and can be very effective for increasing the efficiency of the organization (Telukdarie, et al. 2020).

On the other hand, the company can easily cope with the extra expenditure as their revenue is also going to increase (Roberts, et al. 2019). Therefore it is very important to say that the management should increase the number of cashiers in their shops to increase their effectiveness. The increase in the number of cashiers will also reduce the waiting time of consumers. So it will also decrease the chance of shifting of the consumer.

4.0) Conclusion

This Paper discusses various aspects of the students’ union shop which will be very effective and beneficial for understanding the whole thing related to their business operation and where they should focus for increasing their effectiveness. The analysis of data reveals that the company should hire more employees as cashiers for decreasing the problem related to the effective business operation. The inclusion of new cashiers will be also very helpful for the management for increasing their revenue. That is why it is very important for the organization to focus on this issue effectively.

Reference List

Journals

Anastasiadou, E., Lindh, C. and Vasse, T., 2019. Are consumers international? A study of CSR, cross-border shopping, commitment and purchase intent among online consumers. Journal of Global Marketing32(4), pp.239-254.

Chimucheka, T., Muchineripi, J. and Chinyamurindi, W., 2019. A narrative analysis of barriers encountered by a sample of immigrant entrepreneurs in the Eastern Cape province of South Africa. TD: The Journal for Transdisciplinary Research in Southern Africa15(1), pp.1-9.

Cirolia, L.R., Hall, S. and Nyamnjoh, H., 2022. Remittance micro‐worlds and migrant infrastructure: Circulations, disruptions, and the movement of money. Transactions of the Institute of British Geographers47(1), pp.63-76.

Day, M. and Dickinson, J., 2018. David Versus Goliath: The Past, Present and Future of Students’ Unions in the UK. London: Higher Education Policy Institute.

Dogru, A.K. and Keskin, B.B., 2020. AI in operations management: applications, challenges and opportunities. Journal of Data, Information and Management2(2), pp.67-74.

Guerci, M.J., Norton, G.W., Ba, M.N., Baoua, I., Alwang, J., Amadou, L., Moumouni, O., Karimoune, L. and Muniappan, R., 2018. Economic feasibility of an augmentative biological control industry in Niger. Crop Protection110, pp.34-40.

Herbert, I.P., Rothwell, A.T., Glover, J.L. and Lambert, S.A., 2021. Does the changing world of professional work need a new approach to accounting education?. Accounting Education30(2), pp.188-212.

Holm, M., 2018. The future shop-floor operators, demands, requirements and interpretations. Journal of manufacturing systems47, pp.35-42.

Malcheva, M., 2018. Competitive advantages of boutique hotels in the context of a sharing economy. Известия на Съюза на учените-Варна. Серия Икономически науки7(3), pp.71-83.

Nagy, S. and Hajdú, N., 2021. Consumer acceptance of the use of artificial intelligence in online shopping: Evidence from Hungary. Amfiteatru Economic23(56), pp.155-173.

Roberts, L.M., Mayo, A.J. and Thomas, D.A., 2019. Race, work, and leadership: New perspectives on the Black experience. Harvard Business Press.

Setiawan, R., Rani, K., Cavaliere, L.P.L., Hiep, N.T., Halder, S., Raisal, I., Mishra, R. and Rajest, S.S., 2020. References for Shopping Online Versus in Stores What Do Customers Prefer and How Do Offline Retailers Cope with It? (Doctoral dissertation, Petra Christian University).

Sheth, J., 2021. New areas of research in marketing strategy, consumer behavior, and marketing analytics: the future is bright. Journal of Marketing Theory and Practice29(1), pp.3-12.

Telukdarie, A., Munsamy, M. and Mohlala, P., 2020. Analysis of the Impact of COVID-19 on the Food and Beverages Manufacturing Sector. Sustainability12(22), p.9331.

Türkeli, S., Huang, B., Stasik, A. and Kemp, R., 2019. Circular economy as a glocal business activity: mobile phone repair in the Netherlands, Poland and China. Energies12(3), p.498.

Yahya, S.F.H., Hashim, N.A., Bahsri, N. and Dahari, N.A., 2019. The Effect of Sales Promotion Strategy on Online Fashion Shopping Behavior among Employee of Sahawan Sdn Bhd. Global Business and Management Research: An International Journal11(2), pp.1-13.

Data Analysis

P0   Term 1 Term 2 P0 Rho Lq L Wq W
n or s (𝜆/𝜇)^𝑛/𝑛! ∑ from n0 to n-1 ((𝜆/𝜇)^s/s!)/(1-𝜆/(s*𝜇)) 1/(Term1 + Term2) (𝜆/s𝜇) P0*((𝜆/𝜇)^𝑛/𝑛!)*rho/(1-rh)^2 Lq+𝜆/𝜇 Lq/𝜆 Wq+1/𝜇
0 1                
1 5.81598302 1 -1.207641928 -4.81598302 5.81598302 -7.023624948 -1.207642 -1.298675175 -0.223294183
2 16.91282924 6.81598302 -8.864205714 -0.488228161 2.90799151 -6.595980286 -0.779997 -1.219603255 -0.144222263
3 32.78824257 23.72881226 -34.93086677 -0.089269339 1.938661007 -6.440280439 -0.624297 -1.1908142 -0.115433208
4 47.67396551 56.51705483 -105.0097165 -0.020621677 1.453995755 -6.935292946 -1.11931 -1.282342501 -0.206961508
5 55.45419477 104.1910203 -339.799931 -0.004244322 1.163196604 -10.2795377 -4.463555 -1.900696651 -0.825315659
6 53.75344253 159.6452151 1752.667906 0.000522927 0.969330503 28.96715612 34.78314 5.356055714 6.431436706
7 44.66130129 213.3986576 264.0410689 0.002094505 0.830854717 2.716552663 8.532536 0.502293265 1.577674257
8 32.46867124 258.0599589 118.931937 0.002652577 0.726997877 0.840105053 6.656088 0.155336252 1.230717244
9 20.98191563 290.5286302 59.3078623 0.002858478 0.646220336 0.309666992 6.12565 0.057257732 1.132638724
10 12.2030465 311.5105458 29.16586275 0.002935337 0.581598302 0.119004247 5.934987 0.022004002 1.097384995
11 6.452064658 323.7135923 13.69067877 0.002963804 0.528725729 0.045523026 5.861506 0.008417252 1.083798244
12 3.127091541 330.165657 6.068078179 0.002974122 0.484665252 0.016973146 5.832956 0.003138351 1.078519344
13 1.399008562 333.2927485 2.531607505 0.002977747 0.447383309 0.006102952 5.822086 0.001128442 1.076509434
14 0.581186431 334.6917571 0.994207375 0.002978975 0.415427359 0.002104749 5.818088 0.00038917 1.075770162
15 0.225344694 335.2729435 0.368049234 0.002979374 0.387732201 0.000694419 5.816677 0.000128399 1.075509391
16 0.081912557 335.4982882 0.128691941 0.002979498 0.363498939 0.000218977 5.816202 4.04891E-05 1.075421481
17 0.02802365 335.5802007 0.042596684 0.002979535 0.342116648 6.60009E-05 5.816049 1.22036E-05 1.075393196
18 0.009054726 335.6082244 0.013376957 0.002979546 0.323110168 1.90257E-05 5.816002 3.51787E-06 1.07538451
19 0.002771691 335.6172791 0.003994392 0.002979549 0.306104369 5.25021E-06 5.815988 9.70769E-07 1.075381963
20 0.000806005 335.6200508 0.001136498 0.00297955 0.290799151 1.38849E-06 5.815984 2.56733E-07 1.075381249
21 0.000223224 335.6208568 0.000308727 0.00297955 0.276951572 3.5234E-07 5.815983 6.5148E-08 1.075381057
22 5.90123E-05 335.62108 8.02193E-05 0.00297955 0.264362865 8.58946E-08 5.815983 1.5882E-08 1.075381008
23 1.49224E-05 335.6211391 1.99729E-05 0.00297955 0.252868827 2.01414E-08 5.815983 3.72417E-09 1.075380996
24 3.61618E-06 335.621154 4.77277E-06 0.00297955 0.242332626 4.54836E-09 5.815983 8.40996E-10 1.075380993
25 8.41265E-07 335.6211576 1.09631E-06 0.00297955 0.232639321 9.90301E-10 5.815983 1.83108E-10 1.075380992
26 1.88184E-07 335.6211584 2.42409E-07 0.00297955 0.223691655 2.0812E-10 5.815983 3.84816E-11 1.075380992
27 4.05361E-08 335.6211586 5.16651E-08 0.00297955 0.215406779 4.22632E-11 5.815983 7.81451E-12 1.075380992
28 8.4199E-09 335.6211587 1.06273E-08 0.00297955 0.207713679 8.30153E-12 5.815983 1.53496E-12 1.075380992
29 1.68862E-09 335.6211587 2.11223E-09 0.00297955 0.200551139 1.5788E-12 5.815983 2.91921E-13 1.075380992
30 3.27366E-10 335.6211587 4.06094E-10 0.00297955 0.193866101 2.90986E-13 5.815983 5.38036E-14 1.075380992
31 6.14179E-11 335.6211587 7.56018E-11 0.00297955 0.187612355 5.20212E-14 5.815983 9.61878E-15 1.075380992
32 1.11627E-11 335.6211587 1.36421E-11 0.00297955 0.181749469 9.02858E-15 5.815983 1.66939E-15 1.075380992
33 1.96733E-12 335.6211587 2.38824E-12 0.00297955 0.17624191 1.52243E-15 5.815983 2.81499E-16 1.075380992
34 3.36528E-13 335.6211587 4.05974E-13 0.00297955 0.171058324 2.49614E-16 5.815983 4.61539E-17 1.075380992
35 5.59213E-14 335.6211587 6.70656E-14 0.00297955 0.166170943 3.98225E-17 5.815983 7.36322E-18 1.075380992
36 9.03436E-15 335.6211587 1.07751E-14 0.00297955 0.161555084 6.18614E-18 5.815983 1.14382E-18 1.075380992
37 1.4201E-15 335.6211587 1.68496E-15 0.00297955 0.15718873 9.36333E-19 5.815983 1.73129E-19 1.075380992
38 2.17349E-16 335.6211587 2.56627E-16 0.00297955 0.153052185 1.38177E-19 5.815983 2.5549E-20 1.075380992
39 3.24128E-17 335.6211587 3.80937E-17 0.00297955 0.14912777 1.98929E-20 5.815983 3.67821E-21 1.075380992
40 4.71281E-18 335.6211587 5.51464E-18 0.00297955 0.145399575 2.79555E-21 5.815983 5.169E-22 1.075380992
41 6.68528E-19 335.6211587 7.79037E-19 0.00297955 0.141853244 3.83695E-22 5.815983 7.09456E-23 1.075380992
42 9.25749E-20 335.6211587 1.07455E-19 0.00297955 0.138475786 5.14615E-23 5.815983 9.51529E-24 1.075380992
43 1.25213E-20 335.6211587 1.44797E-20 0.00297955 0.135255419 6.74804E-24 5.815983 1.24772E-24 1.075380992
44 1.65508E-21 335.6211587 1.90717E-21 0.00297955 0.132181432 8.65529E-25 5.815983 1.60037E-25 1.075380992
45 2.13909E-22 335.6211587 2.45659E-22 0.00297955 0.129244067 1.08642E-25 5.815983 2.0088E-26 1.075380992
46 2.70455E-23 335.6211587 3.09598E-23 0.00297955 0.126434413 1.33512E-26 5.815983 2.46864E-27 1.075380992
47 3.34672E-24 335.6211587 3.81934E-24 0.00297955 0.12374432 1.60707E-27 5.815983 2.97148E-28 1.075380992
48 4.0551E-25 335.6211587 4.61418E-25 0.00297955 0.121166313 1.89549E-28 5.815983 3.50477E-29 1.075380992
49 4.81314E-26 335.6211587 5.46137E-26 0.00297955 0.118693531 2.19155E-29 5.815983 4.05221E-30 1.075380992
50 5.59863E-27 335.6211587 6.33558E-27 0.00297955 0.11631966 2.48482E-30 5.815983 4.59446E-31 1.075380992
51 6.38461E-28 335.6211587 7.20643E-28 0.00297955 0.114038883 2.76381E-31 5.815983 5.11032E-32 1.075380992
52 7.14092E-29 335.6211587 8.04018E-29 0.00297955 0.111845827 3.01681E-32 5.815983 5.57811E-33 1.075380992
Table 1: Queuing Model (Source: MS Excel)
Input Data    
Arrival rate (l) 5.4083 hour
Service rate (m) 0.92990299 hour
Number of servers (s) 6 for queue
Cost of Service 10 hour
Cost of Waiting 100 hour
Table 2: Calculation of Arrival Rate, Service Rate (Source: MS Excel)
Probabilities    
Number in System Probability Cum. Probability
0 0.0005 0.0005
1 0.0030 0.0036
2 0.0088 0.0124
3 0.0171 0.0296
4 0.0249 0.0545
5 0.0290 0.0835
6 0.0281 0.1116
Table 3: Calculation of Probability and Cumulative Probability (Source: MS Excel)
Queue Performance/Operating Characteristics    
Average server utilization (r) 96.9% busy
Average number of customers in the queue (L q) 28.9672 in queue
Average number of customers in the system (L) 34.783 in system
Average waiting time in the queue (W q) 5.3561 hour
Average service time (W) 6.431 hour
Probability (% of time) system is empty (P0) 0.001 empty
 Table 4: Calculation of Probability and Cumulative Probability (Source: MS Excel)

The analysis of the data of the Students’ union shop will be very helpful and effective for understanding the whole thing related to their problems in an effective way (Brooks and R 2018). The data analysis of the Students’ Union shops reveals that the inclusion of more cashiers can be very useful and very effective for increasing the efficiency of the organization. On the other hand the analysis of the data will be also very effective for understanding the shortcoming of the organization.

The analysis of data is showing that if the organization recruits 3 more staffs in their shops, it will help them to increase their efficiency. The recruitment of new staffs will also decrease the waiting time of the consumer in queue. So it can be said that the decrease in the waiting time of the consumer will increase the profitability of the organization.

In this context it is very important to say that the management of the shop was very much concerned that the recruitment of new staffs can increase the expense of the organization and such an increase can create a huge impact on the effective business operation of the organization but the analysis of the data reveals that the number of service is very limited in compare to the consumer number of the shop. The recruitment of new staffs can help the organization to cope with the situation.

References List

Brooks, R., 2018. The construction of higher education students in English policy documents. British Journal of Sociology of Education39(6), pp.745-761.

Chen, W., Tajeddini, K., Ratten, V. and Tabari, S., 2019. Educational immigrants: evidence from Chinese young entrepreneurs in the UK. Journal of enterprising communities: People and places in the global economy.

 

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