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Portfolio of Four Pieces of Analysis Using Operations Management Concepts—Taking Next as an Example
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Abstract
Fast fashion is a highly efficient and cost-effective approach to designing and producing apparel that has significant implications for managing operations. The paper focuses on operational management within the fast fashion industry, specifically Next plc. Several models, such as the 4Vs, have been utilized to analyze operational management. The paper examines Next's processes, operations hierarchy, layout, and capacity management using a literature review and analysis method. For optimal performance, businesses in the fast fashion industry should explore the benefits of self-service transaction options, smart personnel allocation during peak demand periods, and streamlined point-of-sale systems. These measures can greatly enhance efficiency and customer service. RFID technology has the potential to enhance operational management, especially in supply chain and inventory management. RFID technology has the potential to bring significant benefits to the industrial sector. By enabling real-time asset tracking, optimizing asset use, streamlining inventory management, and strengthening quality control, it can help reduce costs, improve efficiency, and increase profits.
Keywords
4Vs, operations hierarchy, layout, capacity management, RFID
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Cite this article
Wang,J. (2024). Portfolio of Four Pieces of Analysis Using Operations Management Concepts—Taking Next as an Example. Advances in Economics, Management and Political Sciences,84,126-132.
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Volume title: Proceedings of the 2nd International Conference on Management Research and Economic Development
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