Operational Management Practices in Primark Finance Department

This report evaluates one operational management practice used by Primark finance department to increase efficiency and profits. It examines the impact of this practice on business productivity, the use of technology, and supporting functions that ensure success.

PRIMARY FINANCE
DEPARTMENT REPORT

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Evaluate one operation management practice within a selected company.................................3
Critically examine how operation management practice would be affecting the business in
relation with efficiency...............................................................................................................5
Assess in what ways technology could be embedded in this method or examine how this has
already been achieved.................................................................................................................6
Explain which supporting functions are connected with the operation management practice
and examine how they could provide assistance by assuring business related success..............7
CONCLUSION ...............................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
The report discuss about some various topics which is mainly used by the Primark
finance department to maximize its efficiency in the organization very effectively. Basically,
operational management is mainly involved for converting raw material and labour into products
and services very efficiently and try to make it possible very fast to increase the profits of the
company (Aborisade and Gbahabo, 2021). In this case study it explain about one operational
management practices which is used by the company to increase their profits also in another part
it discuss about the impact of operations management practices in the company in context of
productivity. In other instance it talks about the use of technology and how this has already been
achieved. In last part it mainly describe about the functions which are linked to this operation
management practise. And how it helps and ensure the success of entity. The report would help
to have a better understanding as what is being done and what could be done. It would further be
considered as best way to find out which area and function would serve in the best possible
manner.
TASK
Evaluate one operation management practice within a selected company.
Increasing productivity: This is one of the most important practices to maximize the
profits of the organization. In this operation practice company need to focus on its productivity
and efficiency of the firm. It also helps the development of the company. There are some
functions of the company which directly influence the operations manager are buying,
production, packaging, shipping, human resources. Firm finance department and the support of
technology. To know the work job a production supervisor is need to perform, it require to know
how the roles of an operations manager maximize its efficiency (Bahri, Horowitz and Malbert,
2018). Operations supervisor is answerable for, the better work and other many prospect of the
organization, its knowledge show the depth of understanding in various fields. It shows some
best activity which is mainly used by the operational supervisors to maximize the efficiency, It
reduce waste and create profit.
 Upgrade the tools: It is one of the most important responsibility of the operation
supervisor to manage all the equipments of the company. Which are mainly used to
perform the work of the organization. If tools are not properly organized before executing

the task then its difficult for the firm to manage the task in an appropriate manner. For
every projected activity upgradation of equipments is required to increase the efficiency
of the labour because it takes a lot of time for the sorting the equipment so, its very
crucial for the supervisor to analyse the task properly and sort tools according to the
requirement (de Oliveira and et.al., 2018).
 Coordination in communication: This is also one another major point of the organization.
In this point the communication of the employees and manager should be clear. Because
if any employee of the firm face difficulty in task then its duty for the manager to help the
employee on that particular task. But it only possible when the communication between
the employees and manger is very clear and normal. Its very important task for the
manager to properly supervisor the work of employee and give proper feedback on the
basis of its performance.
 Collection of revenue: The main function of operation supervisor is to take proper charge
of billing and collection of money. In this process of revenue collection company
examining the way to generate revenue speedily and ensure the organizations has cash on
hand. Because its very crucial task for the company to manage cash with the company
because its needed anytime for the organization while they performing the operational
activity in the firm. Company can generate funds in the company through stakeholders
and shareholders by issuing shares and stocks of the enterprise (Gerlach and et.al., 2022).
 Training: If company wants to achieve their task properly in a very effective and efficient
manner then, they need to provide proper training to their employees of the company.
Because the operation manager of the firm work with human resource to grow more
efficient paths for the workers to do their work jobs. Examine the work of the employees
is most important part for the operation manager which they are perform on a daily basis.
The working of operations management must busy the employees in ally kinds of critical
examine with a specific intensity on effective decision making process to achieve the
requirements of stakeholders and the objectives of the organization.

Critically examine how operation management practice would be affecting the business in
relation with efficiency.
The operation management practise create a big impact on the productivity of the
business. If the organization work with full productivity then it helps the company to increase its
profits and they can supply more in the market. It also creates more demand in the competitive
market. There are some points which mainly influence the operation management practise of the
organization:
 Better quality of goods and services: Operation management of the company mainly
focus on the activity of goods and services and the quality of the product. They have a
duty to provide better quality of goods and services to their customers. It also increase the
goodwill in the competitive market. If firm get good response from the market related to
their product then it influence the efficiency of the employees in the company and they
highly motivate to achieve their goals and targets (Hayes and Cejnar, 2021).
 Satisfaction of consumer: If company provide better quality of goods and services to the
customer then it increase the satisfaction of consumer and it maximize the demand of the
company product and services and more people attract towards the product of the
organization. It also increases the profit of the entity and efficiency of the employees and
they work very well to achieve their targets.
 Rivalry advantage: If company satisfy their consumer an fulfil the requirement of
customer by providing them better quality of goods and services then it provide
competitive advantage to the company give more success to the firm and they can easily
capture the competitive market and many of the consumer shift into that goods and
services. If more people buy the product and get the services of the company then
company need to manufacture more goods with full efficiency also they can get generate
more profits in the organization. It is helpful to fight a healthy competition over a period
of time for better benefits and advantages (Kaji, 2018).
 It decline the production cost: If company efficiency is more to achieve their targets then
it also reduces the production cost of the firm and they can easily create high profits in
the enterprise. It only possible when company utilize the resources properly and less
wastage of resources because it tends to decline the production cost of the company. For

maintaining the efficiency of the customer operational manager need to control and direct
the production activity of the consumer.
Assess in what ways technology could be embedded in this method or examine how this has
already been achieved.
Technology plays a very crucial and important role in every method and process as well.
Advanced use of technology would help the business as well as company to plan growth,
expansion and development as well (Kanungo, 2021). With the changing time and upgradation
of technical terms as well as values it is observed that it is necessary for companies to have
enough knowledge regarding serving the demand and delivering goods and services to its
customers. Technology is being used in every sort of activity be it management of supply chain,
production related activities, serving the companies in adequate manner by rendering services. It
is even needed and required for market related purposes for development of advertisements,
finding solutions to high tech issues and sustaining in competitive environment by developing
innovative products. It is evident that if a company wants to upgrade its technical terms, it has to
chose a medium which would serve the purpose in most suitable manner. It helps in cutting
down unwanted cost and expenses, it would also contribute in minimizing expenses and generate
enough revenues for covering threats prevailing and incurred cost as well. It is also helpful in
understanding the best ways which would help in development of future based plans, budgets,
predict what can take place in future and finding solutions well in advance as what can be done
to have proper control over unforeseen situations. Techniques which would help in offering
products and services at minimum costs with maximum benefits as well as customer satisfaction
is possible with the help of advanced technologies. Tools and techniques would be helpful in
increasing production and productiveness of the business(Kidron, 2021). The operational factor
which is being chosen is increased productivity which is possible by adapting better use of tools
and technique. It is thus helpful to understand where the business can improve its production
level and scale of operations. It is helpful in meeting daily requirements of the business along
with reduction in extra costs which exist in a organisation. Primark organisation needs to develop
and have great technological advancements which would help in integrating and coordination of
creating a digitalised environment for better coordination among various different departments
which would facilitate In functioning in internal as well as external environment. The
development and upgradation in use of technologies and maintaining transparency in working

and operating related stages of production would help in identifying and assessing future based
issues as well as problems. Technologies play a vital role in attaining goals being set by
organisation keeping long run in mind. If the funds are limited and the company has to make best
use of it can make the working more efficient then the best it can do for making modern products
and putting innovation and creation in it would help to serve a better competitive advantage.
Explaining how such situations are being achieved are:
 Qualitative goods: Quality is counted as one of the best element which would help people
to get attracted towards the company and stay engaged for a longer period of time. It
further would help the business to run in a more efficient and effective manner.
Qualitative products are counted as luxurious product which would help the company to
develop and create a brand name as well as image in the coelomic environment (Kim and
et.al., 2018).
 Quantitative goods: It is very clear that if the company is using better technologies
available in the environment then it would be fruitful in the long run. It would help the
business to produce a competitive line in the economy which would help in stability and
sustainability in related economic environment. Quantitative products are considered
valuable the reason being it is concentrating on productivity level of the business and
would be useful if the business plans new locations and plants in the economy as well.
Explain which supporting functions are connected with the operation management practice and
examine how they could provide assistance by assuring business related success.
There are many varied functions which aided the business in the successful journey of it. Such
functions would help in managing future based factors which would contribute in development
of business and understand the demands of engaged as well as connected customers for running
of company in environment. Some of the different functions are defined as under in context of
Primark:
 Finance function: It can be stated as a very important function in any business firm. This
operational function counts and considers all the money and funds which are being
involved in various functions and operations for the Primark. It considers finance
function as the main function as it is useful in procuring various type of funding activities
for the overall working of business organisation which would be helpful for managing
smooth functioning of enterprise (Klein and Schiman, 2021).

 Forecasting function: It simply states the prediction of future based events, such
forecasting and predictions are helpful in estimation of various events, it is basically done
on expectation and demand which prevail in context of customer and supply of the
enterprise such as Primark. With the help and assistance of forecasting function,
operation manager and the linked team would get to know what can be produced, in what
manner it can be produced and all the functions which are being taken into account (Liu,
2018).
 Strategy function: This function is mainly based over making various techniques and
tactics which are related to operational management. Strategy formulation would lead
towards optimum utilisation of resources which would be aiming over the motive of
gaining and developing competitive advantages in the competitive environment.
Strategies mainly involve different function such as sales, maximisation of efforts and
use of human work force which would be available in a business, here Primark is also
having a main motive such as generation of revenue and profits (Lepine, 2022).
CONCLUSION
As it is concluded from the above report company discuss about the operational
management practices which is used by the company to increase its efficiency in the
organization. It helps the firm to maximize the profit of the enterprise. Along with this it focus
on how operation management practices create an impact on the productivity of the business.
Apart from this it also analyse the type of technology they are used in this procedure to meet the
targets of the customer. At last it also support some functions which are directly connected to
the operation management practices of the organization and confirm the achievement. Basically
in this report company mainly talks about the operation management practices which mainly
assists to increase the efficiency of the company. The report would be helpful to understand
where the business is lacking behind and lagging as well. It would be helpful to serve as a better
advantage over others present in the environment.

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