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COMMGMT 2511 Business Operations Management
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COMMGMT 2511 Business Operations Management
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Course Code: COMMGMT 2511
University: The University Of Adelaide
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Country: Australia
Question:
Students will develop a value chain based on the supply chain for the assigned company, Real Property Management Rental Direction.
Students should compute the value generated at each step.
The value chain should include based on the students business plan, configurations of resources such as suppliers, factories, warehouses, distributors, technical support centers, engineering design and sales offices, and communication.
Answer:
Introduction
Real Property management Rental Direction was formed in order to provide different kind of rental services to the people of the community in search of houses and properties (rentaldirection.com, 2018). The company has a base coverage of around 250 plus locations in 46 different states of North America. More than 10,000 property owners have kept their trust over the mentioned company. The following project is prepared to compile a report to get a clear understanding of the value chain or the Value Chain strategy of the business. The value chain strategy that has been formulated by the management of the company has been provided to maximize the Value of the customers and make necessary efforts to gain a competitive advantage in the market and be sustainable.
Overview of the Company
The company is led by Kirk McGary for almost the last three decades. Headquartered in the American state of Florida, the management of the company e4ngages itself in the management of the residential properties (rentaldirection.com, 2018). Their main strategy is to help the customers save money at each and every stage of the rental process. The professional service that is provided by the employees of the mentioned real estate company generally comprises of comprehensive marketing, cost effective advertisement, ongoing healthy communication and many more similar tasks and activities as such.
Value Chain Management
Figure 1: Value Chain Management
Source: (Fredendall & Hill, 2016)
The process by which a connected group of activities are connected together to help create the values of the different goods and services of the products can be referred to as the value chain management. The main objective of managing the value chain is to integrate communication and increase cooperation between the production and the Value Chain and decrease the time of delivery. The presence of a proper Value chain is the key to the success of a company. Some of the elements of value chain that are implemented by the management of Real Property management Rental Direction are as follows;
Management of the Properties and Assets
As mentioned earlier Real Property Management Rental Direction generally deals in the management of rental properties (rentaldirection.com, 2018). The company manages the property available with them through the use of a digital solution named SCM Solution. The property owners who approach the company are helped by them to find the potential tenants for their immovable assets. The use of the digitalized solutions helps the company to have a completive advantage in the market as they have the knowledge of the best and the most affluent properties on sale (Christopher, 2016). The clients are provided the righteous solutions on how to attract the right tenants to their properties and to get the best deals done for their property. The company also arranges for an inspection or two for the parties to get to see the property physically and meet the owners face to face. This helps the organization to ensure a genuine deal.
Forecasting and Planning
The management of the mentioned company ensures that the clients face a hassle free, interruption free life after they take the help of the company (Gereffi & Fernandez-Stark, 2016). Such a hassle free environment is necessary for client satisfaction as it gives peace of mind to the customers. The planning and forecasting also helps the company to abide by all the different rules and regulations of the country.
Financing
The company depends on various sources for financing which includes, bank loan, commissions, fees, interests and any other type of loans from financial institutions. The financing is needed for ensuring the creation of exclusive advertisements and other promotion activities. The company monitors the tenants in a careful way and makes all the necessary efforts to find the right people who are financially sound enough to meet the demands of the owner.
Documentation
The company is basically a service provider and thus it maintains different documents to ensure the transparency of the different deals (Gereffi & Fernandez-Stark, 2016). The registration process of the organization takes place once a property owner approaches them for intervening and finding him a right tenant for the property. The deal is signed between both the parties and makes both of them legally obliged towards each other. The company provides a guarantee period of 6 months which helps them to guarantee the genuineness of the deal.
Suppliers
Suppliers form an integral part of the system of Real Property Management Rental Direction. The difficulty in implementing the Value Chain overall has different kinds of Value Chain facilities and different kind of objectives (Fredendall & Hill, 2016). However the following companies along with the larger conglomerates in USA employ break taking strategies to ensure their success in the competitive market and also to maintain a proper and effective competitive advantage in the market.
Distributors
Distribution network strategy of the company addresses the issues like that of location of the warehouse and their capacities and many more as such. It also establishes the basis on how the management of the company maintains the balance of flow between the facilities regarding property management and the database of the tenants to the property owners. The management of the company generally uses a number of different kinds of IT packages that are processed to assist during the creation, implementation or the use of this complex business decisions.
Technical Support Centers
Information Technology has a large role in maintain an effective and systematic Value Chain management within the industry. As mentioned earlier the company uses advanced digital technologies to complete their management of Value Chain processes (D’heur, 2015). The company thus practices the best form of supply management because of the presence of the latest technology in the system. The technology addresses almost all the part of the Value Chain strategies from logistics strategies to the strategies needed to attract more tenants to their fold.
Engineering Design
The company hires engineer and employs them in the engineering department. The task of the engineers is to scrutinize the properties and prepare a detailed report on the structural complexities and conditions. This helps the audit team to set a value for the properties accordingly. The actual prices are then highlighted to the potential tenants to help them buy or rent the following property.
Sales Offices
The sales offices of the following company are located at different places of USA. Both the clients who are the owners and the tenants approach these offices to find out their own choices. The sales offices have the databases of different properties along with the names of the potential tenants.
Communication Links
The use of digital communication and effective human resources employed by the company helps the company to find out and have a large database of the potential clients and the interested tenants for renting different properties (Jacobs, Chase & Lummus, 2014). The maintenance of constant communication with each of them further adds up to the effective range of services provided by the company.
Conclusion
The value chain system followed and implemented by the management of Real Property Management Rental Direction is one of the most effective and efficient in modern use. The strategies adapted by the company to address the issues related to Value Chain is useful to achieve the goals of the organization as well as help the company to deliver the best service to the clients of the organization. The value chain management is helpful to generate revenue for the company.
References
Christopher, M. (2016). Logistics & Value Chain management. Pearson UK.
D’heur, M. (2015). Sustainable Value Chain Management. Springer International Publishing: Imprint: Springer,.
Fredendall, L. D., & Hill, E. (2016). Basics of Value Chain management. CRC Press.
Gereffi, G., & Fernandez-Stark, K. (2016). Global value chain analysis: a primer.
Jacobs, F. R., Chase, R. B., & Lummus, R. R. (2014). Operations and Value Chain management (pp. 533-535). New York, NY: McGraw-Hill/Irwin.
Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2015). Purchasing and Value Chain management. Cengage Learning.
Power, D., & Simpson, D. (2016). Aligning Goals and Outcomes in Sustainable Value Chain Management. In Sustainable Value Chain Management (pp. 161-172). Routledge.
Real Property Management. (2018a). About real property management rental direction. Retrieved from: https://www.rentaldirection.com/about-us
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