No matter how big your business is, operations management is key to your company’s eventual growth and involves producing and delivering goods or services. Here at J.R. Martin & Associates, we can provide operations management services by supporting your company’s operations process’s planning, organization, and supervision. A few of the ways that we can provide such support include:
At first glance, a scorecard might appear to be similar to a dashboard. However, whereas a dashboard provides metrics that you can use to analyze a company’s long-term strategy, a scorecard focuses more on the tactical side. Using a scorecard, you can track short-term goals, projects, and metrics. Using a scorecard, you can track internal business functions and their external outcomes, giving you the ability to identify areas needing operations improvement. We can help you create a balanced scorecard that provides you with the key information you need.
It can’t be overstated how vital data is to your operations management. The data you collect can help you identify and improve upon inefficiencies within your business. However, without proper data management, you may not be collecting or analyzing the right data. We can help implement an effective data management solution that will help you collect, validate, store, organize, and process the data you need to monitor and improve your company’s performance.
Most small businesses won’t generate a profit in their first year, so you must know when you will finally break even and what it will take to get to that point. We can perform a break-even analysis, which will allow us to calculate how many sales your business must generate to pay off all of your expenses (the point at which your company can finally begin to generate profit). We can then help determine if your operations management changes can influence whether that break-even point occurs sooner rather than later.
Because all businesses have cash flowing in from multiple sources and out to cover various expenses, cash management is crucial to ensuring that you have cash on hand to cover the necessary expenses at all times. We provide extensive cash management support to maintain a positive cash flow, preventing avoidable cash flow problems in the future.
Identifying your company’s growth drivers is essential to promoting future growth. Growth drivers can include everything from the technology you implement to the customers you obtain. However, one of the critical aspects of determining your growth drivers is identifying your gross profit percentage. The gross profit percentage is represented by your net sales minus the cost of the services or goods that your company has sold. The fluctuation in gross profit percentage can indicate issues in your operations management, which is why it’s such an important metric to track.
Effective and efficient operations management is a must if you have any hopes of driving your business’s growth. Our team of experts in Redding, CA can provide you with professional support to help develop business strategies to improve your operations management.