Abasco, Inc. has been operating in the manufacturing domain for quite a while, building a reputation of an efficient organization with an innovative approach. Entrepreneurship can be credited as trustworthy and efficient as it has shown impressive growth rates over the years of its operation. However, despite the reasonable approach toward information management that the company has adopted instead of the previous one, the lack of reasonable resource allocation, particularly, the option of lean manufacturing may jeopardize the efficacy of the organization.
Despite the lack of consistency in the choice of the resources management approach, the firm has been displaying rather positive rates in enhancing the efficacy of other aspects of its functioning. For instance, the data management approach that Abasco, Inc. has been using since recently reflects the complex nature of the information that the firm needs to process. The data in question includes the customers’ feedback, the current market indices, the company’s performance rates, the data regarding the competitors and their power in the metal fabrication field, etc. acquiring, processing, and storing it demands a consistent effort, yet the entrepreneurship has found the approach based on the Big Data processing strategy (Hu & Kaabouch, 2015) that allows it handle the information flow (Bhasin, 2015).
The logistics tools that Abasco, Inc. has been using over the past few years also reflect the convoluted realm of the contemporary metal industry. Abasco, Inc. has created a long yet efficient supply chain that permits the entrepreneurship members to contact their suppliers immediately and arrange the necessary course of well-coordinated actions. The supply chain of the firm owes its success to the above data management approach that helps transfer the necessary messages to the target partners within seconds.
Another crucial part of the company’s operations, the actual manufacturing process needs to be addressed. It is constantly supervised so that the quality standards could be upheld and the customer satisfaction rates could remain high. For these purposes, the TQM approach is adopted as a part of the Six Sigma framework (Luo, 2013). However, as far as the allocation of resources for the manufacturing process itself is concerned, Abasco, Inc. could use a piece of advice. The current strategy adopted by the company does not invite many opportunities for saving. One could argue that avoiding expenditures for the production process could lead to a drop in quality rates. However, the issue in question addresses not the concept of the economy but the problem of mismanaging resources and increasing the amount of waste produced. To reduce the rates of waste and use the resources more sensibly, one should consider using the concept of lean management (Pampanelli, Trivedi, & Found, 2015).
Therefore, it is strongly recommended that the principles of lean manufacturing should be incorporated into the unit’s framework (Schroeder, Goldstein, & Rungtusanatham, 2013). Even though entrepreneurship is facing impressive progress currently, it needs to reconsider the use of its resources. The necessity to reduce waste is largely predetermined by the fact that the company needs to integrate into the global market area to succeed. As soon as the entrepreneurship members face the need to spend an impressive amount of money on a variety of expenses that the global economy field incorporates, its leaders will recognize the significance of the lean approach as the tool for creating financial reserves for future costs.
Reference List
Bhasin, S. (2015). Lean management beyond manufacturing: A holistic approach. New York, NY: Springer.
Hu, W. C., & Kaabouch, N. (2015). Big data management, technologies, and applications. New York, NY: Information Science Reference.
Luo, Z. (2013). Mechanism design for sustainability: Techniques and cases. New York, NY: Springer Science & Business Media.
Pampanelli, A., Trivedi, N., & Found, P. (2015). The green factory: Creating lean and sustainable manufacturing. New York, NY: CRC Press.
Schroeder, M. J., Goldstein, R. G., & Rungtusanatham, S. (2013). Operations management in the supply chain: Decisions and cases (6th ed.). New York, NY: Richard D. Irwin, Inc.