Supply chain management

Strengthening and Improving MedicareBrief overview on the global challenge/trendResource efficiency and optimization is the global trend faced by Olympia Electronics. The product Emergent Luminary GR-423/6L manufactured by the organization is utilized in case of emergency and should be highly reliable. During the operations, the resources it takes should be optimized to make it world for long period of time. Resource efficiency and optimization is heavily dependent on followings- Effective inventory management system Operational efficiencyThere is need to thoroughly review of performance indicator which make the organization capable of measuring and evaluating success and effectiveness of particular activities if they are focusing on goals of organization. How can Olympia Electronics benefit from this challenge/trend (with specific focus on the product that you previously investigated)

Each business grow with the help of its resources which are being used efficiently and in optimized way.

Olympia Electronics can benefit from resource efficiency optimization in the following ways- Increased revenue Improved product delivery Reduction of administrative costs

If the resources are being optimized then ultimately company will be able to increase the revenue. The product in this case is Emergent Luminary which needs to be highly reliable. This product is to be used when power supply does not work. Customer will like to buy such product only if it is of good quality. Product delivery will be enhanced automatically if the product quality full. More benefit means reduced administrative costs.

Slide 4 What Olympia Electronics needs to b e careful of in case they would implement that challenge/trend (with specific focus on the product that you previously investigated)

Conclusion (your own objective statement on whether Olympia Electronics should adopt or not that challenge/trend for the specific product).

Slide 6 ReferencesHobbs, B. F. (1995). Optimization methods for electric utility resource planning.European Journal of Operational Research,83(1), 1-20.Porrmann, M., Purnaprajna, M., & Puttmann, C. (2009, July). Self-optimization of mpsocs targeting resource efficiency and fault tolerance. InAdaptive Hardware and Systems, 2009. AHS 2009. NASA/ESA Conference on(pp. 467-473). IEEE.Eldred, M. S. (1998).Optimization strategies for complex engineering applications(No. SAND--98-0340). Sandia National Labs., Albuquerque, NM (United States).

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