The giants in electronic industries have updated themselves in almost every aspect, be it operations, supply chain, repair and maintenance, or consumer-based research and development. According to 2023 statistics, the top businesses in the electronic industry are Apple, Cannon, and Dell, and surprisingly all three of them have worked tirelessly on the integration of technologies in strategic decision-making at every step of their operations. From a diverse workforce to huge investments in training and development, these giants have evolved as favourites among customers only because of long-term decision-making and setting clear goals and objectives to be achieved within a specific period.
Strategic operations management in the electronic industry is not easy. The main reasons are:
Ever-evolving Customer Base:
From mobile phones to customised gadgets, from televisions to Desktop Computers, the consumer base is getting more diverse and assorted, with different age groups, genders, ethnicities, and races demanding different products and services. Catering to a diversified niche at every level is tough, mainly because each product and service shall require some type of differentiation in the typical operations management within the manufacturing plants. Therefore, the electronic industry is in a constant state of operation, innovation, and change.
Research and Development Costs:
Heavily dependent on novelty and technological advances, the electronic industry has to bear the hefty costs of research and development. In this era of gadgets and social media, everyone wants revolution, improvement, and modernization in their everyday use appliances. That is why consumer surveys, interviews, discussions, and opinions matter the most, and so R&D costs are sky-high when talking about this industry. Similarly, new product development with advanced features and specs is based largely on new research, making the old surveys redundant and useless.
Management of Hardware and Software:
With changing strategies, a change in hardware and software being used is also in demand. Every new day brings forth novel and better versions of the assets and inventory being used in the electronics industry, leading to additional costs and longer assimilation processes. This might lead to difficulties for the workforce in production and operations units, to be accustomed to new IT assets.
The Significance:
Financial Surveilling:
The biggest and most obvious advantage of strategic operations management is the alignment of finances with the company’s goals and objectives. Through strategic decision-making, financial managers and teams can decide how to modify operations management and supervision by keeping in view the company finances and capital in cash. This keeps the liquidity of a business secure and saves it from incurring losses in the long run.
Streamlining Profits:
Strategic management of production enables which methods and objectives better suit the nature of a business. In the electronics industry, changing trends and the need for innovation are key to achieving the most optimum methods of operations management. Revenue generation can be increased and sped up using efficient strategic moves and policies.
Legal Issues Handling:
Companies that keep in mind the legal policies and devise operational strategies accordingly have fewer employee grievances and more workforce retention than companies inconsiderate of such regulations. The reason is that government policies protect employee and workforce rights and award companies that comply with such regulations. Strategic operations management enables industries to have positive brand images and building of goodwill in the long run, through the enforcement of such policies in strategic decision-making. Shareholders’ interests are also secured when production and operations are in line with state-enforced procedures, liberating the company from legal hassles.
Track Records of Maintenance History:
If operations are supervised strategically, electronic businesses can keep track of their previous performances and subsequent progress or failures. Newer strategies can be made and thought of keeping in view the older successful plans and contingencies. Today, many software and IT tools help industries identify company needs, divide and deploy tasks, and track progress and failure accordingly. One such tool is work order management software that has revolutionised operations management in many industries including electronics. This service is a blessing for operations supervisors and even higher management who do not have to devise regular plans and set goals to guide strategic management, instead, the IT tool does their work for them.
Overall Organizational Growth:
Operations are just one department of the whole organization. Successful businesses are capable of running all departments in harmony, and if operations and productions are in alignment with the goals of other departments, only then can progress in the long run be promised. Due to diversified objectives in the electronics industry, departments are now divided into sub-departments and operational subunits according to tasks. Through strategic operational management, all departments in an organization can be aligned and work in cohesion toward common long-term goals and visions. Strategic management also caters to any potential dangers and threats the organization is likely to face along the way.
Better Assignment of Roles and Responsibilities:
Last but not least, roles, and responsibilities can be actively decided and assigned only when strategies are thought of and worked out before actual implementation. In organizations where strategies are mismanaged and haphazard, role specification suffers which ultimately affects the productivity and efficiency of the workforce.
Through technology assimilation, strategic operations management can not only be improved but executed efficiently throughout the organizational hierarchy. Productions, inventory management, and stocking, all are dependent in one way or the other on long-term strategic planning particularly in operations management.