Every operation

Every operation, firm, organization, enterprise have one common goal which is to transform their inputs into outputs. These transformation is actualized by following a process that must always be considered. These process is referred to as the 4 V’s which are Volume, Variety, Variation and Visibility.
Volume refers to how much input is required to satisfy the demand, mismanagement of volume could lead to over/under production.
Variety refers to a range of product made by a firm , we hardly find firms which have a large variety of products because it would lead to poor HR specialization while less variety would lead to simpler operations and even standard goods that will be produced massively.
Variation refers to how the level of demand changes over time. A number of factors make it difficult to predict variation and that’s why these days firms want a customer analysis report on their goods or services.
Visibility refers to the extent to which the operation process of the business is seen.