Report Essay Example | Topics and Well Written Essays - 1000 words - 5

Report - Essay Example 92). The framework and layout of the plant, administration of the processes of production and selection, repair and replacement of tools and equipments lie under tactical issues. Operation activities include the control of production, management of inventories, control and regulation of quality standards and implementation of management policies. In the operation management, there are a number of emerging functions from different dimensions. The functions include globalization of the dimension of productivity and completion tactics and e-procurement for the supply of resources and materials. Globalization is movement of people, services and goods across different nations in the world without restrictions. The across border movement is conducted in an integrated and flawless way (Shim & Siegel, 2009, Pg. 55). It is as a result of opening up the global economy and the associated increase of trade relations among nations and regions. Globalization will make countries to go global hence increase the integrations of the world’s economy. ... 92). Use of internet in the modern has been incorporated in almost all sectors whereby the sector of business in not left behind. It is a crucial component in business to business sites commonly referred to as B2B sites. In the B2B sites, users who are registered eligible find clients who want to buy or sell products and services. Depending on the preference and approach that may be used by the clients prices of goods and services can be specified and sometimes negotiation can be done (Kumar & Suresh, 2009, Pg. 130). The software of e-procurement automates the transactions of buying and selling over the internet. This function will enable companies to effectively and efficiently control the inventories, minimize the number of purchasing personnel and more significantly improve the processes of manufacturing. In the future, the function of e-procurement is expected to be incorporated with the computerized supply chain management (Shim & Siegel, 2009, pg. 65). Since in the coming years globalization will be more than it is now, it is vital for companies and organizations to prepare for the future globalization due to the challenges that may be accompanying (Galloway, 2010, Pg. 105). To be on a secure side a country must take caution and diverse considerations before making a move of implementing any type of venture in globalization. One of the practical concerns that need attention is currency (Homann, 2009, Pg. 150). The currency that is dominating in the world today is the Euro and the US dollar. In addition to that, there are more than 200 currencies which are used in global business transactions. Companies venturing into globalization must be aware of the costs involved in the exchange of foreign currencies and the challenges which are