Inventory Management Practices in Marks & Spencer

BM563 Operations
and Service
Management

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Operation management practice of inventory management in Marks & Spencer......................3
Impact of operations management practice on organizational efficiency...................................5
Use of technology in operation management practice of inventory management......................6
Supporting functions for chosen practice of operations management ......................................7
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Operations management is a factor of management that is associated with structuring and
monitoring of process of production and restructuring the operations of business in the
production of products and services. It is the administration of business practices for building the
top degree of efficiency in the business organization. It is associated with conversion of labour
and resources into products and services in an effective and efficient manner (Bui and Tseng,
2022). Some of the practices in operations management include stock and quality control,
delivery and supply chain management, information management and ordering & buying etc.
The following report will cover the operational management practices of inventory management
of Marks and Spencer. It is a multinational public limited company in retail sector dealing in
clothing , home and food products. The report will cover the impact of inventory management
practice on organizational efficiency and use of technology in this process. Further, it will also
cover the supporting functions in relation with inventory management and their contribution in
organizational success.
TASK
Operation management practice of inventory management in Marks & Spencer
Inventory management is a managerial as well as operational function. It needs the
appropriate following and maintenance of operational processes and inventory. It involves the
study and analysis of inventory management to control the inventory levels by effective decision
making. The practices of inventory management facilitate in in creating value with regards to
monitoring and maintenance of inventory. Sometimes, shortfall of stock makes company out of
stock and thereby reduces its revenues and keeping extra inventory leads to block of working
capital (Saha, Saha and Jha, 2022). So, the company needs to maintain suitable level of
inventory to ensure time delivery and earning more revenues. Many organizations employ
different practices and methods of inventory management to run their operation smoothly and
efficiently. In context with Marks and Spencer some of the practices of inventory management
are described hereunder :
 Periodical review of inventory : Inventory management is depend on the demand and
delivery time of supply chain. Companies need to consider the factors such as lead time
of receiving inventory and deliver time as well. Organizations can measure it by