Production management ? El Corte Inglés S.A., headquartered in Madrid, is the bi
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Question
Production management ? El Corte Inglés S.A., headquartered in Madrid, is the biggest department store group in Europe and ranks fourth worldwide. El Corte Inglés is Spain's only remaining department store chain. Stores tend to be very large in size and offer a wide range of products: stores may sell music, movies, portable and household electronics, furniture, hardware, books, clothes, groceries, gourmet food, cars and real estate.PREPARE AND ANSWER THE FOLLOWING QUESTIONS:
1) Analyse and describe the different performance drivers of El Corte Ingles in its different OM SYSTEMS. Determine the different factors that fix each one of them 2) What are the different effects of these drivers on the performance of the operations of El Corte Ingles 3) Find and describe different ratios of a single factor productivity 4) Find and describe different ratios of a multi factor productivity 5) Find and describe different ratios of a total factor productivity Production management ? El Corte Inglés S.A., headquartered in Madrid, is the biggest department store group in Europe and ranks fourth worldwide. El Corte Inglés is Spain's only remaining department store chain. Stores tend to be very large in size and offer a wide range of products: stores may sell music, movies, portable and household electronics, furniture, hardware, books, clothes, groceries, gourmet food, cars and real estate.
PREPARE AND ANSWER THE FOLLOWING QUESTIONS:
1) Analyse and describe the different performance drivers of El Corte Ingles in its different OM SYSTEMS. Determine the different factors that fix each one of them 2) What are the different effects of these drivers on the performance of the operations of El Corte Ingles 3) Find and describe different ratios of a single factor productivity 4) Find and describe different ratios of a multi factor productivity 5) Find and describe different ratios of a total factor productivity El Corte Inglés S.A., headquartered in Madrid, is the biggest department store group in Europe and ranks fourth worldwide. El Corte Inglés is Spain's only remaining department store chain. Stores tend to be very large in size and offer a wide range of products: stores may sell music, movies, portable and household electronics, furniture, hardware, books, clothes, groceries, gourmet food, cars and real estate.
PREPARE AND ANSWER THE FOLLOWING QUESTIONS:
1) Analyse and describe the different performance drivers of El Corte Ingles in its different OM SYSTEMS. Determine the different factors that fix each one of them 2) What are the different effects of these drivers on the performance of the operations of El Corte Ingles 3) Find and describe different ratios of a single factor productivity 4) Find and describe different ratios of a multi factor productivity 5) Find and describe different ratios of a total factor productivity
PREPARE AND ANSWER THE FOLLOWING QUESTIONS:
1) Analyse and describe the different performance drivers of El Corte Ingles in its different OM SYSTEMS. Determine the different factors that fix each one of them 2) What are the different effects of these drivers on the performance of the operations of El Corte Ingles 3) Find and describe different ratios of a single factor productivity 4) Find and describe different ratios of a multi factor productivity 5) Find and describe different ratios of a total factor productivity
Explanation / Answer
Four factors have been considered as key performance driver of El Corte Ingles:
Store, market, customer characteristics & competition.
Different ratios of single factor productivity:
Different ratios of multi factor productivity:
The multi factor productivity ratio represents the value of output in combination to input. It uses more than a single factor. For example, labor & capital. Hence it can be total output to a subset of inputs for example, labor & materials. Obviously the input factors must be measured in same units like pound, sterling or standard hours.
Different ratios of total factor productivity:
Total factor productivity is considered as primary contributor to GDP growth rate. The contributing factors include labor inputs, human capital & physical capital. It measures the total residual growth in total output of the firm , industry or national economy that can’t be explained by accumulation of traditional inputs such as labor & capital. Hence TFP is considered to be a residual which explains the effects of total outputs caused by inputs.
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