Operations Management: What You Need to Know in 2021

StrategyDriven Tactical Execution Article | Operations Management: What You Need to Know in 2021Operations managers have a tough and challenging role, particularly in 2021. As we move towards a ‘new normal’, businesses are facing unexpected obstacles. As a result, innovation and ingenuity is more important than ever before. If you’re working in operations management, or you aspire to become an operations supervisor, take a look at some of the challenges you’ll be facing in 2021:

1. Supply Chain Uncertainty

There’s no doubt that supply chains were significantly impacted by COVID-19. Although firms were quick to respond to the upheaval, many companies remain concerned about the vulnerability of lengthy supply chains. However, the competing demands of globalization mean that long supply chains are often essential or advantageous.

Operations managers and supply chain managers can overcome this particular challenge by partnering with leading logistics firms. Choosing a logistics provider who can offer a wide range of transportation, such as HLOGCAM, ensures a variety of supply routes can be accessed at short notice. In addition to this, using more than one mode of transportation enables companies to have greater control over the speed at which their goods and shipments are moved from one location to another.

2. Cost Cutting

The on-going impact of the coronavirus pandemic means that millions of companies are slashing their budgets. After a year of disrupted cash flow and trading restrictions, it’s not surprising that firms are being forced to rethink their expenditure. While reducing costs and maintaining productivity has always been a key objective for businesses, it’s fast becoming a critical aspect of their long-term survival.

Within operations management, personnel are going to be under pressure to maintain or increase productivity while minimizing inputs. To achieve this, there is likely to be an increased focus on automation. By introducing new automated processes, for example, managers can maintain their operations with a reduced staff. In addition to this, automation can positively impact efficiency, which, in turn, will optimize productivity without substantially increasing costs.

3. Increased Sustainability

Although most companies will face financial and practical challenges throughout the year, environmental concerns will still be highly relevant in 2021. Indeed, the reduced emissions and carbon footprints seen at the height of the pandemic, when entire sectors were brought to a standstill, have highlighted the environmental impact that industry has.

As a result, there is public and governmental pressure on businesses to reduce emissions further. In order to achieve this, operations managers will need to ensure sustainability is a key issue during every decision-making process. By weighing the environmental effects against the financial impact of a new process, for example, operations managers can find solutions that meet a company’s needs without increasing the firm’s carbon footprint.

Building a Career in Operations Management

As you can see, operations management is an exciting area to be involved in. For current and future professionals, the competing priorities, emergence of new tech and practical demands ensure that a career in operations management will continue to be challenging, thought-provoking and, ultimately, highly rewarding.

Are there Benefits of Cloud Computing for Businesses?

If you’re fairly new to business, then there is a lot to learn. Of course, it will vary what you need to know, depending on the kind of business that you have. But one aspect that can universally benefit businesses is cloud computing. This is where data is stored and managed, as well as processed, and it is all done using a network of servers that are hosted remotely. This kind of computing and storage for business data is popular with business users for a number of reasons. It offers some savings, as well as a large capacity of storage. So if you’re still not sure, here are some of the reasons why cloud computing could be just what your business needs.

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Save money

There is one thing that a lot of business owners have in common, and that is that they will always be on the lookout for different ways to save money. And for any business that is looking to use technology, and see if it offers any value, won’t have to look too far from cloud computing in terms of getting a good return on their investment. Cloud computing means that you don’t need your own hardware as everything is hosted elsewhere, which can be a good saving. Plus, if you look for a cheap VPS (virtual private server), then you will be able to save even more. Cloud computing means that you won’t have to cover the costs of security, power, and insurance for this kind of thing, as it is all taken care of remotely.

Strategic competitive advantage

The time in cloud computing is low, and any applications that are needed for growth and success can be found online nearly instantly. This helps to give you a strategic competitive advantage over any competitors, especially those that have not yet got on board with those kinds of cloud technology. It also means that as a smaller business, you’re not at a disadvantage compared to large businesses. You can all be on the same playing field when it comes to data and storage.

Lightning fast performance

If you want to stay competitive, then you need to have cloud service providers that will help to update technology to then meet the demands of the business customers. This can mean that cloud computing gives great performance which can be a huge benefit for business. Cloud computing also uses load balancing to make sure that no server suffers with any performance problems.

Flexible working

Cloud computing is something that will provide much greater flexibility in the way that employees work. It can mean that no matter where people are working from, they will be able to access the same information, as it is all internet based. Flexible working, especially in recent weeks, has improved so much, and more and more businesses are seeing that it can help their business, so it is definitely something that is here to stay. Using cloud computing can help your business as people work more flexibly, as it will keep everyone up to date.

Why Your Business Needs An Online Bank Account

StrategyDriven Entrepreneurship ArticleOnline banking has become increasingly popular over the years with many people choosing to manage their finances online. This is because there are many benefits to online banking such as easy access to your finances, online transfers and much more. Surprisingly, many businesses still don’t use online banking, making their lives a lot harder. If you run a business but don’t yet have an online bank account, you should keep reading or go to this site to find out why you should make the change.

It Is Easier To Manage

When you run a business, you often have to take some time to look through your finances. When you have a lot of paper bank statements in front of you, cheques and all sorts of other materials, it is a lot easier for things to get lost. This is why you should think about opening a BB&T online bank account if you want to be able to manage your business finances a lot more easily. BB&T have a range of checking and saving accounts for businesses that come with a lot of account extras which you should take advantage of. These include online banking and customizable checks.

Faster Payment Of Bills

There’s nothing worse than paying a bill and finding out that the cheque never made it to the company in the post. This can often mean that late charges are added on and there are usually other consequences. If you want to be able to pay your bills in a faster and much more efficient way, you should think about opening up an online bank account for your business.

Save Time

How much time do you spend going to the bank each week or sending one of your staff members there? When you have an online bank account, you’ll rarely need to go to your local bank branch and so you’ll save yourself some more time. This will give you a lot more time to focus on the other important parts of your business and you won’t need to make sure that you get to the bank before it closes.

Get Paid Faster

As a business owner, you often need to make sure that all of your clients have paid you within the time frame needed to ensure that your business is profiting. If it takes a lot longer for your clients to pay you, you might find that this can have a negative impact on your figures. Make sure to get yourself an online bank account if you want your clients to be able to pay you a lot faster. You will love seeing the money enter your bank account almost immediately and you’ll be able to ensure that everything is paid on time.

Get Started Now

In this day and age, there really is no reason for you not to be using an online bank account for your business. There are so many advantages of doing this and if you are still visiting your bank branch a few times a week then you are wasting valuable business time. Think about finding the best online bank account for your business and you’ll love the perks.


StrategyDriven Business Operations Management Forum

Business operations processes support those individuals performing the business’ production functions.  These processes provide, support, and maintain the personnel, processes, technologies, and materials enabling all organizational functions.

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