Operations and Project Management assignment : TK Maxx

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Added on 2021-02-21

Operations and Project Management assignment : TK Maxx

Added on 2021-02-21

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OPERATIONS ANDPROJECT MANAGEMENT

Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................3P1 Conduct a review and critique of the implementation of operations management principleswithin an organisation.................................................................................................................3TASK 2 ...........................................................................................................................................5P2 Prepare continuous improvement plan based on the review and critique of operationsmanagement principle.................................................................................................................5TASK 3 ...........................................................................................................................................7P3 Apply each stage of the PLC for the project producing necessary supportingdocumentation.............................................................................................................................7TASK 4 .........................................................................................................................................10P4 Review and critique the effectiveness of the PLC in application to the project usingappropriate theories and models................................................................................................10CONCLUSION .............................................................................................................................12REFERENCES .............................................................................................................................13

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INTRODUCTION Operation management is concerned with designing, managing and controlling theproduction process in the appropriate manner. The major motive of operation management is toensure that functions of business are carried out in the effective manner. Plans and strategies inthis is made according to the needs, demand and preferences of the potential customer's.Operation department in any organisation works for producing products, managing quality andcreation of services. This report majorly consists of two parts. The organisation chosen for thefirst part is TK Maxx which is operating its business in retail sector of UK. While organisationfor the second part is Reynolds Technology which is a manufacturer of tubing bicycle. Thisreport will majorly cover reviewing of operation management principles, preparation ofcontinuous improvement plan and different stages of project life cycle (Bryde and Schulmeister,2012). With the help of project life cycle each and every activity related to project can be carriedout in the efficient manner. Theories and models related to project life-cycle will also bediscussed in this report, by using these management of organisation will be able to compete theassigned project in the effective manner. TASK 1 P1 Conduct a review and critique of the implementation of operations management principleswithin an organisation.Company overview TK Maxx was majorly established in 1994 in different parts of UK. The organisationmajorly deals in footwear, clothing, furniture, etc. The major motive of the organisation is tosatisfy its potential customers by offering them better quality products as compared to itscompetitors. Operation Vs operation management Operation is the continuous process of conducting and carrying different task within theorganisation. Under this activity various individuals are involved for completing the task in thebest possible manner. Operation management is the process in which raw materials are convertedinto final product and making it available to the customer (Cândido and et. al., 2011). Byplanning, organizing, directing and controlling profitability and sale of the organisation can bedirectly increased.

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Operation management principles There are different principles of operation management which can be reviewed criticallyfor the achievement of goals and objectives in the best possible manner. Most important andcrucial activities of TK Maxx are logistics and supply chain management. As with the help ofthese activities large number of customer's are attracted towards the company's product. Majorprinciples of operation management in context to TK Maxx are discussed below- Variance- This principle is basically used to reduce and control the unnecessary cost inthe production process. With the help of supply chain management major changes in the costreduction can be done for the effective completion of task. The management of TK Maxxfocuses on managing their logistics so that wastage of cost can be reduced. But this generallyrequire trained and skilled employees (Carter and Liane Easton, 2011). This is becausemanagement of cost can only be done by efficient employees. The management of TK Maxx isunable to implement this principle in the appropriate manner because its employees are notproperly trained. Organisation- This principle is majorly used to increase and enhance the sale,profitability and operations of the organisation in the systematic manner. For doing this themanagement of TK Maxx is using different techniques which are related with supply chain.These includes hybrid trucks, use of dual full vehicles and implementation of latest techniques.But it becomes difficult for the management to handle such operations with same and constantefficiency. So use of this principle and operation will be ineffective for TK Maxx. Change- It is concerned with ensuring better and effective supply chain management.This enable the organisation in using new techniques for delivering of goods to the finalconsumer. The management of TK Maxx focuses on using systematic and standard procedure sothat chances of error is reduced (Logistics. 2019). Since the organisation is using standardizeddelivery technique so it is resulting into increase in cost. It is very much necessary for TK Maxx to analyse the principles in the systematicmanner. As by doing this management of organisation will be able to know that such principlesare meeting the requirements or not (Dave, Murugesh and Devadasan, 2015). The analysis ofthese principles are mentioned below- TK Maxx needs to focus on reducing the cost in its operation process. The organisationis using principle of variance for increasing the quality of its products. But this principle

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