Why Review (Build) An Operations Plan
The operations plan might seem a lot like being “in” the business because it covers the who, what, when, and how things get done. Operational plans are more specifically tailored, but while you are “on” the business, you get an opportunity to understand the various processes of generating, supplying, and delivering your product or service. Operation plans define the essentials of your business like, facilities, equipment, inventory, suppliers, and internal processes. Operations is where all the moving parts of your business come together and make things happen. This is where your strategies are implemented, and actions begin to produce results.
What Do I Get Out of This?
A review should identify any business updates required, opportunities for improvement, supply chain issues, cost analysis, etc. Knowing these will help your future budgeting and allow you to better manage investments and expenses. Follow the questions below to begin documenting your process of evaluating operations, then build on your findings in writing.
Is my business located in the best place possible? Why? What would make it better?
What steps are required to produce my product or service?
What are my needs for production (e.g., facilities and equipment)? Do I Understand their costs?
Who will be my suppliers, Why, and do have a way to evaluate their performance?
What types of inventories do I need for input and output? How will I keep track of them?
What is the supply of available labor? How many employees do I need? Who will do what?
What will it cost to produce my product or service? How will I recognize price fluctuations?
How will I define and ensure quality of my product or service?
Share And Help Others
I hope you can utilize this fourth topic of five projects (one-a-day this week). If I can help you or others with even a small business tip, I will feel rewarded. You can’t do everything yourself so don’t be afraid to ask questions on my social media platforms or contact me for extra help. As a consultant, I find a great reward in transferring my knowledge and skills to help others succeed, especially during difficult times. Know that a planned execution on your strategy will be rewarded with results. Make the choice to support your business with solutions that make it even more valuable.
Please "Share" this with others. Vaughn Bonsteel is a Business Consultant and Safety Consultant helping companies and people like you understand their current situations so they can move their businesses towards their goals.