Dynamic Dealing in the Manufacturing MNC
Let’s discuss business, its many aspects, prosperity, and sustenance in the futuristic projections.
In the past century, we saw many changes around us. These changes include Industrial, scientific and political revolutions, computer technology, and the consumerism of the 21st century. The nature of the business also changed significantly during this time. Mathematicians and engineers developed several models like the Toyota Production system during this time. These models made mass-production sustainable and helped businesses profligate.
Now we are at the edge of industry 4.0, where business scenarios have many dimensions, and dealing with all of them became a difficult task. Many times, managers get frustrated coping up with these dynamic changes. They lost the joy of life and the interest in doing business. I want to share the model ‘Dynamic Dealing’ with Man, Material, Method, and Money to bring back the originality in life.
In every business, Man is the key aspect for success. The positioning of the right man at the right position became very difficult due to daily change. For materials as well, the changing scenarios of business make the task of allocation more difficult. Various software available for material management falls short of coping with the speed of updates in the business. This increases the complexity of decision-making.
Despite having many simulation software, some questions exist for Method as well. Many times, simulation software is not affordable and practical. They give the wrong direction to business decisions.
Money is the key decision-maker in all of these. Allocating money based on the utility of application is a difficult task. Many times, the decision-making for money allocation is time-consuming. The top management, responsible for monetary decisions, is a group of busy managers. So, the monetary decisions take time. This affects business, in all aspects -profitability, market share, sales, customer service, etc.
To simplify, I want to introduce the concept of “Dynamic Dealing in All above 4 M’s”
We can reduce the scope for error at the human end by empowering the system and making the man a mere ‘rubber stamp’. This approach renders happiness to both man and the business. Both will be tension-free.
If you like this concept, read further. Also, share your views in the comments.
