Human resource management Theory and Practice

Question: Discuss about the Human Resource Management for Theory and Practice. Answer: Paper usage vs allocation Paper usage = 25*150*4 = 15000 pages of paper for the month of April Allocation of the paper for the month of April = 5000 pages * 10 boxes = 50,000 pages It can be concluded that there is a gap of 35,000 pages between the paper usage and the paper allocation. Procedures and guidelines of allocating, purchasing and recording The guidelines and procedures play an important role in the overall management of the inventories. Economic order quantity is an important part of this overall process. Moreover, the budgeting and strategic planning is an important part of the overall process (Bowie et al 2014). Planning is to be made in advance, so that there is an optimum order available for the production departments and there is no wastage of materials. The sustainable practice involves less of the usage of the papers and a new strategy needs to be developed for the recycling of the papers. This company can develop and use a particular chemical that will help in the recycling of the papers and it will be done in house. The company develops that solution or purchase that from outside market and recycling the papers will save this company a lot of fortune. Quotation of papers Future enterprises Number of weeks Weekly payments Total 5 450 2250 10 400 4000 John Smith Enterprises Number of weeks Weekly payments Total 3 325 975 5 320 1600 Table showing the quotation of prices by two companies (Source: Created by Author) In the case of the first supplier, the delivery is made at a wider margin and at the same time, the quality of the paper is good. On the other hand, the second supplier has a small interval of delivering the products and they provide the papers at a low rate. It will be recommended to get the second supplier, as it will help to reduce the expenses and increase the rolling of the papers. The potential shortages can be identified by the calculation of EOQ (Economic order quantity). The company can calculate this and accordingly place the order. Shortages of stock will have an negative implications on the production as well as the image of the company (Ge et al 2015). In case of the shortages of stocks the company will not be able to meet the requirements of the clients, thus having a bad image of the company. There is an advanced inventory and assets tracking mechanism, which can be effectively used by the company. If this is properly implemented then the wastage and misuse of the resources will be lessened and optimum utilization of the resources will increase the productivity of the concern. There must be a committee in the company to look over exclusively on the affairs regarding the purchase, identification and the allocation of the resources and there must be an existing, which will track the movements of the assets. The communication as well as the decision-making system will be done in that committee and it will ensure a smooth functioning of the organizations. Anti-discrimination policy ensures an equal opportunity for all and the work environment will become better with the implementation of such policy (Luftman et al 2015). The codes of practice will help the employees to limit their operations within a boundary and instill a sense of discipline in the operations of the company. Privacy laws help the company to have dominance on their work and the privacy laws help the company to have a copyright on the work and make the work more secured. The box must have a certification, which is internationally recognized and that will be checked at the time of taking delivery of the goods. Part B Five resource requirements for the opening of a restaurant are: Man power, capital, real estate, cooking materials and cold storage facilities. All the resources have their significance. Capital is the backbone of the restaurant business and work force is the basis of any business. Without proper manpower no businesses can survive and ultimately it is the labor force which implements all the policies of the management (Forsgren and Sabherwal 2015). Location is an important consideration of the restaurant business and cooking, cold storage facilities are essential features of the restaurant business, and no business can ignore them. The labor will be measured by the labor hours worked, capital by the return generated by the capital on the investment, real estate by the return per square foot of area and the cooking arrangements by the number of plates served. Strong internal control system will help the company will help the company in tracking the resources and thus ensure that no resources are wasted (Ge et al 2015). Individuals who are already involved in the business of running the restaurant will be ideal to give consultation to the business. Cold storage if broken-down then it will be a disaster for the company. There must be an alternative facility to store the goods otherwise it will be a huge loss for the company. Reference Bowie, D., Paraskevas, A. and Mariussen, A., 2014. Technology-Driven Online Marketing Performance Measurement: Lessons from Affiliate Marketing.International Journal of Online Marketing (IJOM),4(4), pp.1-16 Bratton, J. and Gold, J., 2012.Human resource management: theory and practice. Palgrave Macmillan. Forsgren, N. and Sabherwal, R., 2015. Business Intelligence System Use as Levers of Control and Organizational Capabilities: Effects on Internal and Competitive Benefits.Available at SSRN 2687710 Ge, W., Li, Z., Liu, Q. and McVay, S.E., 2015. Does Internal Control Over Financial Reporting Curb Corporate Corruption? Evidence from China.Evidence from China (December 16, 2015). Hendry, C., 2012.Human resource management. Routledge. Luftman, J., Lyytinen, K. and ben Zvi, T., 2015. Enhancing the measurement of information technology (IT) business alignment and its influence on company performance.Journal of Information Technology,1, p.21.