Evaluation of Marks and Spencer's Operations Management Decisions
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This assessment evaluates the operations management decisions of Marks and Spencer, including production, supply chain, logistics, location strategies, quality control, and HR. It provides insights into how these decisions contribute to the company's profitability and competitiveness.
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Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 EXPLAINATION OF MAIN FUNCTIONS OF BUSINESS OPERATIONS.........................1 BRIEF DESCRIPTION OF MARKS AND SPENCER.............................................................2 EVALUATIONOFCOMPANY'SOPERATIONSMANAGEMENTDECISION: PRODUCTION, SUPPLY CHAIN, LOGISTICS, LOCATION STRATGEIES, QUALITY CONTROL AND HR..................................................................................................................3 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................7
INTRODUCTION Operations and management defines as a effective term which reflects the several practices of business practices that are useful to create an efficiency within attaining targets in the business organisation. This term is concerned with transferring the inputs and workforce to the goods and services for enhancing the profits and sustainability of business enterprise. This term includes planning, organising and supervising of production, manufacturing of products and services so that outcomes can be gained in positive manner. This assessment is based on Marks and Spencer company that is one of the largest multinational retailing company that deals in all over the globe with several range of products and services with their own brand name. The company brings quality, value within clothing, food, home ware segments so that more and more customers are to be attracted towards it in all over the globe.This report undertakes the explanation of several business operations functions within the Marks and Spencer. It also includes the evaluation of company operation management decisions that are highly based on several terms which are production, supply chain, logistics, strategy, quality control and also the HR so that targets and objectives are to be attained successfully and efficiently(Lin and et. al., 2018). MAIN BODY EXPLAINATION OF MAIN FUNCTIONS OF BUSINESS OPERATIONS The business operations and functions of the company is to carry out the business practices in the corporate market effectively and efficiently to maintain its survival. As Marks &Spencer is said to be the company of carrying great business with a strong brand in the corporate market. The different business operations of the company are as follows :Managing the risk :The company 's main business operation is to manage the risk factors of the company. As the effective risk management is essential for the company to achieve the strategic goals and objectives of the company(Rawat and et. al., 2019).Innovativewaysofworking:Thecompanyconstantlyfocusesonmakingthe innovations in the ways of working in the company. As it is necessary to work with innovative ideas in the company, so that company can be able to gain the competitive advantage towards the competitors in the corporate market. 1
Investing in the workforce :The company carry its business practices through its employees and the workers of the organisation.Soi it is the role duty and responsibility of the company to invest on its employees and workers so that they can be able to work with full of their efficiency (Świderski, Jóźwiak and Jachimowski, 2018).Reaching to the customers :The operation of the company is to reach out to the customers through different ways and communication channels. So that the customer 's needs are identified and according to that their needs can be fulfilled by the company. The product :The role ofthe company is to keep ensuring the quality of the products and services that they are offering to the customers. There main focus is keep ensuring and checking the quality of the products regularly(Dahmani and Yebdri, 2020). The functions of the Marks and Spencer are as follows: To deliver the qualities products to the customers. To generate the revenues by constantly making sales of the products and the services. To deliver the quality value for the shareholders through accountable businesses. To carry the retail business practices effectively and efficiently in the corporate market. To make its own integrated effective team of the company so that the business practices are carried by efficiency and effectiveness in the market. BRIEF DESCRIPTION OF MARKS AND SPENCER Marks and Spencer is one of the British multinational retailer that deals in clothings, home products and the food products. It is one of the largest retailer of UK. The company runs its business practices in nearly 300 stores in its home markets. The company also operates and owns its stores in different parts of the countries in the global world. The company has vision to be standard against which the companies are offering. As the company to deliver a unique and creative products and services to the customers so that their brand loyalty can be increased. The mission statement of the company is to make a aspirational quality that can be accessible to all the customers. The main focus of the company is to serve the quality products and services to the customers. The aims and objectives of the company are as follows: The aim of the company is to have employee orientationin the company. As being a developing company it is essential for the company like Marks and Spencer to have employee orientation in the company so that the company's employees and the workers 2
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are able to work in the organisation with a clarity of roles that they have follow for the smooth running of the business practices of the company. The organisational aim of the company is to deliver the quality products and services to the customers. The company 's objective is to focus on the product and the service quality so that company can be able to earn goodwill for the company. The company 's gross sales objectives is to provide the plentifulness of the product and services for the betterment in the gross revenues for the company. The main objective of the company is to deliver the quality contents so that the brand image of the company can be maintained in the corporate market and the company and that company can maximize its profits through effective. To maintain an adequate amount of supply chain and logistics in the retail the market so that customers do not find any difficulty in purchasing of the products and services for them. To serve the society by carrying out the corporate social responsibilities. To keep focusing on the innovation by making changes in the products and services according to the customers demand and choices. To provide the products and services to the customers at the affordable prices to increase the level of customer satisfaction towards the company(Kindaichi and Nishina, 2018). EVALUATIONOFCOMPANY'SOPERATIONSMANAGEMENTDECISION: PRODUCTION, SUPPLY CHAIN, LOGISTICS, LOCATION STRATGEIES, QUALITY CONTROL AND HR It is very essential to evaluate the operations management decision for developing the profits and revenues to a longer period of time and attracting the large base of customers so that high growth and development can be enjoyed in their survival that helps in gaining competitive advantage within business industry. In case of Marks and Spencer, management team can highly focus on examine the areas of operations for generating maximum profits and revenues. This analysishelpsintakingthedecisionsrelatetobenefitsoforganisation(MARKSAND SPENCER GROUP PLC SUMMARY OPERATIONAL REVIEW, 2021). To evaluate the Marks and Spencer operation decisions several terms are to be included in which making decision play an essential role to attain the success. These terms are to be followed below: 3
Production-This term is linked with the creation of goods and services within the organisation that are essential to attracts the number of customers. It is to be evaluated that decision related to production are based on supply and demand of Marks and Spencer, that affect the decision making of operation management. The objective related to higher profits are to be attained by producing the products that are suitable for company. In this operation management of Marks and Spencer focus on analysing issues and opportunities so that improvements can be done effectively. It is evaluated that firm operation management ensures the design for getting the high level of output that are useful for gaining profitable advantage. Supplychain-Intermsofthisstrategicdecision,MarksandSpenceroperation management ensures that supply chain can highly supports business strategies. Marks and Spencer supply chain is highly effective and innovative that can leads to productivity. For instance- In this manager of Marks and Spencer can focus on decisions based on supply chain that helps in targeting the markets. In their supply chain department information can be flow appropriately by using online medium so that efficiency can be maintained. In this management team can ensure to regular monitoring the supply chain activities so thatproblemcanbesolvedeffectivelythatcanaddsthestrengthinsuccessof organisation(Campos-Guzmán and et. al., 2019). Logistics-This term includes the supply chain process strategic decision within Marks and Spencer that are to be evaluated for enhancing profits and revenues of company. In this Marks and Spencer operation management can focus on implementing the cost effective decision that can effectively flow the information related to packaging of goods and material.In this firmcan highly focus on warehousing the productsso that customers are to be attracted effectively. Location strategies-Locationsare the essential part of strategic decision in operation management. Efficiency of locations are the objective in strategic decision. In this Marks and Spencer can highly focus on reducing the production and transportation cost so that customers get the products and services effectively and firm proficiency can also be maintained to high extent. For example – Marks and Spencer production hubs are highly proximal in nature within retailing market. In this company avoids to plan their operation in those locations that includes political and cultural issues because it will highly affect 4
the operational productiveness. Adopting this approach is highly effective to processes the business operation effectively and efficiently(Peng and et. al., 2019). Quality control-In terms of this strategic decision within operation management of Marks and Spencer. In this manager of the company can highly focus on satisfying the needs of customers by fulfilling their expectation related to quality of the products. In this Marks and Spencer includes the approach related to improving the quality standards within operational activities for satisfying the customers requirements. For example- In this manager of Marks and Spencer adopts the threshold for defeats that are related to production operation. And it can be fulfilled by proper market research so that standards related to qualities can be maintained. To maintained productivity corporate and local standards are to be include4d that support the decisions of operation management of company. HumanResource-Thisstrategicdecisionareawithinoperationmanagement representing the sufficiency and availability of work force that supports the whole business operations. Efforts within operational area are highly supports the Marks and Spencer to improve their culture and values due to this overall performance are to be efficient.For instance- Operational management of Marks and Spencer are focus on ensuringthejobdesigntomanageoverallcorporatecultureforsupportingthe proficiencyandproductivitywithinbusinessenterprise.Intermsoforganisation perspectiveMarksandSpenceroperationalmanagementcandirectlyfocuson influencing the human resource capacityand also financial performanceof concerned business firm. CONCLUSION From the above report it can be concluded that Marks and Spencer is one of the leading retailer in the global market. In the above report the case study is taken up to explain the different retail business activities of the company which carries the different functions and the business operations of the company. A brief description is mentioned about the company with its aims and objectives of serving the quality products and services to the customers and creating the goodwill for the company by mentioning its mission and vision of the company. An evaluation and analysis of the case study is taken up in which Marks and Spencer 's operation management decisions are briefly explained with the supply chain management, logistics with the different 5
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location strategies and various quality controls methods and human resources workforce of the company is explained so that the company can be able to work effectively and efficiently. 6
REFERENCES Books and Journals Campos-Guzmán, V. and et. al., 2019. Life Cycle Analysis with Multi-Criteria Decision Making: Areviewofapproachesforthesustainabilityevaluationofrenewableenergy technologies.Renewable and Sustainable Energy Reviews.104.pp.343-366. Dahmani, S. and Yebdri, D., 2020. Hybrid algorithm of particle swarm optimization and Grey Wolfoptimizerforreservoiroperationmanagement.WaterResources Management.34(15). pp.4545-4560. Kindaichi, S. and Nishina, D., 2018. Simple index for onsite operation management of ground sourceheatpumpsystemsincooling-dominantregions.RenewableEnergy.127. pp.182-194. Lin, S. and et. al., 2018. Risk identification and analysis for new energy power system in China basedonDnumbersanddecision-makingtrialandevaluationlaboratory (DEMATEL).Journal of Cleaner Production.180.pp.81-96. Peng, H.G. and et. al., 2019. Investment risk evaluation for new energy resources: An integrated decision support model based on regret theory and ELECTRE III.Energy conversion and management.183.pp.332-348. Rawat, T. and et. al., 2019. Impact assessment of electric vehicle charging/discharging strategies on the operation management of grid accessible and remote microgrids.International Journal of EnergyResearch43(15). pp.9034-9048. Świderski, A., Jóźwiak, A. and Jachimowski, R., 2018. Operational quality measures of vehicles appliedforthetransportservicesevaluationusingartificialneural networks.Eksploatacja i Niezawodność.20. Online MARKSANDSPENCERGROUPPLCSUMMARYOPERATIONALREVIEW,2021 [Online].Availablethrough:<https://corporate.marksandspencer.com/media/press- releases/archive/2004/12072004_marksandspencergroupplcsummaryoperationalrevie> 7