Project Management refers to a project which is undertaken to develop an attractive and unique type of product, services, and result. The report is based on Marks and Spencer which is an international retail company they provide a variety of goods and services which include home products, food items, selling clothing and so more.
Four Vs of operation management
The operations of Mark and Spencer are done with the assistance of raw materials which is required to be transformed and processed into the services and goods which is presented for the consumers. The company has various ways of doing this issue with the help of four factors which are known as Four V’s that is Volume, Variety, Variation, and Visibility.
Volume: this is the factor that is used to measure the satisfaction demand of products of Mark and Spencer in the market place. The higher demand for the products is easy to satisfy with the help of automated activities(Gill, et. al., 2016). The volume requirements of the products in Mark and Spencer are dependent on the operation management.
Variety: it is the factor that defines the variety of goods and products being manufactured for the consumer’s demand. The variety of products and services is a description of this factor(Maylor, et. al., 2018). The variety of the products offered to consumers is affected by the demands and needs of operations management in Mark and Spencer.
Variation: this is the factor that defines the variation in the needs and choices of the consumers at the ground levels of Mark and Spencer which are different from the external factors of the company(Niazi, et. al., 2016). The prediction of variation in the market is made difficult due to the various factors in operations to be handled and managed.
Visibility: this factor shows the concern of the company for the client’s information visibility. The goods and services of mark and Spencer for customers get affected by the visibility of the company in operations management.
The supply chain is a commerce term that is defined as the system of organizations, information, people, activities, and resources concerned in the supplying of manufactured goods and services for the customers. It is a process or a chain of processes that involve the reaching of goods and products to the consumers of the company(Demirkesen, et. al., 2017). It is a process that includes everything right from the beginning of obtaining raw matter which is used in making products and then the products are delivered to the consumers through the shopper’s stores. It is a very important aspect of the company through which the proper dispatch of products and services is being done with systemized processes.
Supply chain process
It consists of a series of processes that are required to be completed for the products to reach the end-users. There are different kinds of steps are taken in the supply chain processes which ensure the reaching of the products and services to the end-users in a perfect manner and the customers can have the best experience by using the products and services of the company(Ravindran, 2016). Marks and Spencer follow the supply chain management process which involves various process steps that need to be completed for delivering the products and services to the end-users.
There are five different processes for the supply chain management which are as follows:
Strategic Planning: It is the first step in the supply chain management process where the Marks and Spencer Company need to involve a wide range of activities to decide the operational strategy of the company(de Nadae, et. al., 2017). The decisions that need to be made for the manufacturing of the products and components or buying goods from suppliers are some of the major decisions that need to be taken by Marks and Spencer. The planning should be done for the manufacturing of the goods and products about their productions or buying of various materials from foreign suppliers from which the goods and products to be made for the supply chain process.
Demand planning: This process is the second step in the supply chain management process. This step involves forecasting, promotion planning, lifecycle planning, and consensus demand planning. These steps involve the forecasting of the situation in the market for the products and services of Mark and Spencer about the consumers(Strandhagen, et. al., 2018). The promotional planning for the goods and services will be done by the marks and Spencer for advertising their products and services for consumers. Lifecycle and consensus demand will be used for improvement planning about the various products of the company that are offered to the consumers(Habibi, et. al., 2018). This is the major step for acknowledging the demand offered to consumers by Mark Spencer.
Supply planning: It is the step in the supply chain management process involving various processes that will contain the information and data for the supply planning which will be helpful in the planning of supply route and processes which need to be followed(Zhang, et. al., 2016). The safety stock, supply network, and outsourcing of the supply need to be done for the better implementation of supply planning for the goods and services of Mark and Spencer. This will be the best step to follow the measures which will ensure the proper supply of goods and services to the end consumers by Mark and Spencer Company.
Procurement: It is the step in the processes of supply chain management which involves various sub-steps such as purchase order processing, receipt confirmation, and invoice verification for the better procurement of the goods and services offered by the Mark and Spencer Company. Procurement is the process to regulate the purchase orders, receipt processes, and invoice systems for the systematic information flow and organization operations for the supply chain management processes(Li, et. al., 2019). All the tasks related to the purchase orders and other information for the improvement of the processes of supply chain management for Mark and Spencer to improve the supply chain for better results at the end-users of the products and services offered to the consumers.
Manufacturing: This is the last stage in the supply chain management processes which involve the production of the goods and services which are going to be offered by the Mark and Spencer Company for consumer usage. This stage involves the various parts and decision making for the situation of the production of goods from the raw material for the end consumption by the company’s users and customers(Kiani, et. al., 2019). This is the stage in which the quality and quantity are put on the decision panel for the best outcome of the manufacturing for Mark and Spencer to enhance the supply chain management process.
It is the process of managing and handling the project for the company and establishes it with great care to help in the flawless execution of the project. The Mark and Spencer use project management theory called Project management body of knowledge also known as PMBOK in project management(Chiriac, et. al., 2018). This is a collection of practices, guidelines, processes, and terminologies which are proved as the quality of standards in the industry of project management. This is very useful for the innovation of the standards which are frequently used in the process of project management in Mark and Spencer. It involves the best practices being used for the various steps to be followed in the project management of Mark and Spencer Company. There are different steps in the way of project management which is known as the project management lifecycle which is used in Mark and Spencer Company.
Initial phase: The first phase is the initial phase of the project management life cycle which is being followed by the Mark and Spencer Company. The goal of this step is to define the project and approve it with the development pan of the business for the project(Turner, 2016). The project manager of Mark and Spencer Company has to do the feasibility study about the project, create the project charter, and also manages the management tools for the project development under the project management theory for Mark and Spencer Company. This step will end with a full understanding of the project’s goal, purpose, risks, and requirements.
Planning phase: PMBOK is the critical phase in which the blueprint of the project is being created for the project team members to be followed. In this phase, the details for the project will be defined by the Mark and Spencer Company to connect with the requirements(Yaghtin, et. al., 2018). The various steps are involved in this phase such as planning for the project, developing a resource plan, defining goals & performance measures of project, communication and team’s responsibilities, and many other steps that are being done in the project. This is the step that makes the project ready for the next phase for the execution process.
Execution phase: This is the next phase in the project management cycle for mark and Spencer Company. This is the stage in which the real execution of the project steps is done. The project is being expected and the deliverables will be analyzed to make sure that the project is meeting with the goals for the various requirement(Prasad, et. al., 2019). This is the real working stage of the project management in which the time, money, and people are being used for the best of their efforts to improve the delivery of the project. This step involves the real working stage of the project which is being defined and the goals of the project will be met at this stage to ensure the fulfilment of the steps of the project. This stage of project management will go to the next stage which will access the next stage of working for the project which is being the main goal for the team members to execute and then use the next stage(Meredith, et. al., 2017).
Controlling and monitoring phase: This is the next stage of the project management lifecycle in which the steps which are being executed in the lifecycle of the project will be controlled and monitored by the project team for further modifications and other bugging related issues which can be solved in this stage of the lifecycle. The project should be working in the right direction for achieving its goals and objectives(Ravinder, et. al., 2017). This stage will help the project manager in coordinating the steps being followed by the various stages of the project lifecycle in the project management process. The adjustments and modifications can be done in this step according to the circumstance of the project to move all the steps in the right direction to meet the requirements of the projects.
Project closure: This is the step of closing the phase at the step where the project requirements are being met by the project lifecycle. This is the step where the project is officially ended and wrapped up by the organizations(Padalkar, et. al., 2016). The Mark and Spencer Company follows the steps required for the project closure which will end the project and tie up the loose ends of the project. Thus this phase will end the working of the project which is being used for the completion of the particular task to be fulfilled.
Expansion of business operations in Africa
Marks and spencer trying to expand their business in Africa where they are gain the attention of new customers with their quality of products(Kanakaris, et. al., 2019). Before enter in the new market, they are focus on analyzing the whole market place and customers’ preferences or choices which help them in easily attract clients and increase the goodwill of an organization.
It is that document and evidence which represents a Gantt chart that shows each step to take a project from A to B. A project plan defines goals and objectives which specify each task and how to gain the required goals by Marks and spencer. It is used to maintain and manage all the activities that are important for the company(Nicholas, et. al., 2017). Also, it helps in communicate with their team members and provide the required information regarding the firm plan for further actions. For this plan, the company needs to plan before implementing nay action and process within an organization so that they can easily reach with desired goals in the proper way.
In project management, scheduling is an important action that includes a listing of all activities, milestones, and deliverables in the project of the marks and spencer. A schedule is mainly includes planned start and finish date, resources, and duration which are assigned to each action and function properly(Banerjee, et. al., 2020). Effective project scheduling is a critical element that helps in providing success to the business operations and manages time as per the plan. It is an effective project scheduling plays an essential role in ensuring project success and growth.
A project budget is the total production costs that are required to complete a project within a limited time. It is mainly used to estimate and analyze the costs of the project for each stage of the project. The budget is the total cost of financial resources that are allocated for the specific purpose of the project(Osei-Kyei, et. al., 2017). It is the primary financial evidence that constitutes the important funds and income for executing the project and developing the deliverables in a better manner.
|Activities||Cost of estimation ($)|
|Material procurement costs||2000|
Monitor and evaluate the project risks
It is important for Marks and spencer is to focus on project management functions in a better manner. The company needs to monitor and evaluate the risks of the project. Monitoring risks is that procedure which helps in monitoring the implementation of agreed-upon risk response plans, identified issues, analyzing new risks, and effectively determining risk process(Ochieng, et. al., 2018). Along with this, an organization required to monitor major risks that can create issues and problems such as labor costs, maintenance value, customer relationship, supply chain management issues, managing schedule and so more.
Critical capacity analysis of the process/supply chain, including the strategies used to address expected customer demand
Supply chain analysis is a procedure that helps in determining and evaluating each stage of the supply chain beginning from the time of the business which acquires raw materials or supplies from its suppliers to the delivery of final goods to customers. Marks and spencer focus on analyzing the supply chain that helps in maintaining and identifying business growth opportunities associated with the given sector within a region(Kerzner, 2017). Along with this, the company uses effective strategies that help in address expected customer demand and needs in a better way. It is required for an organization is to analyze customers’ demand according to this they need to develop such products that fulfill their requirements and wants.
Suggested metrics used to measure the processor supply chains performance, and how a changed process may improve them
It has been analyzed that three major types of categories are used to evaluate the supply chain and process of the company that includes cost, time, and quality. The metrics are that process which helps in evaluate and measure period as it is used to easily communicate with customers and fulfill their needs or wants(Kanakaris, et. al., 2019). All three metrics help in managing and properly maintaining business operations and are used to develop growth. in addition to this, it needs to measure and determine business growth. Marks and spencer mainly focus on identifying how to improve company functions and activities effectively. The change process may improve them to achieving potential goals and objectives.
Customer demand and process capacity relationships
In the Marks and spencer, the major risk which is face by them to improves customer demand by offering those potential products and services(Doz, 2016). For an organization, it is important to manage customer demand and develop a relationship. This is the main risk that may face by the company when they are not updated and aware of their customers’ needs and wants.
Quality Management issues
It is important for marks and spencer is to focus on quality management risk that may create a negative impact on their business operation and lead to bad goodwill in the large market place. The quality issues arise when the defects occur in the product performance. For this, the company needs to maintain and manage the team of quality and provide training to them regarding how to develop quality based products and deliver to the final users(Sunder M, 2016). In the other words, quality is the ability of products which helps in satisfying customers demand and needs in a better manner. Quality management is the act of overseeing required activities and work which must be achieved to maintain the potential level of excellence(Wang, et. al., 2019).
Product/service delivery issues
It is another major risk which may face by marks and spencer while deliveringproducts and facilities to their customers. This is arisen by lack of communication between customer and seller so that they cannot understand each other reaction and response towards goods supplies. The poor business knowledge and information create problems for the company as it is important for a manager is to have the required knowledge about business activities(Ajmal, et. al., 2017). The lack of continuous improvement for procedures and services arises when they do not manage the systematic processes in the management operations.
Collaboration and coordination issues
It is the main risk that can create a negative impact on their business success and development level. Collaboration and coordination is an important aspect for every organization as this helps in maintaining all the operations of the business. Inthe absence of these two factors, the company team members are not able to make effective decisions which help them in gaining profitability and income(LARSON, et. al., 2018). The lack of communication is creating major risks for the company team members who work for attaining huge profit. Without coordination and collaboration, the team is not able to work and hesitate to share the required knowledge and information with their senior members.
Based on the above-described report, it can be concluded that operation and project management helps in managing business functions in a better manner. It assists in maintaining company operations in achieving great goals and objectives. It ensures that the company mainly works on the supply chain management process that is used to maintain business activities. PM is the process in which people manage and arrange resources that are required to complete a project.
Ajmal, M., Helo, P. and Kassem, R., 2017.Conceptualizing trust with cultural perspective in international business operations. Benchmarking: An International Journal.
Banerjee, K., Ray, S.K. and Ghosh, S.K., 2020. Integrated Solid Waste Management Under Japan International Co-operation Agency Project in Municipalities of West Bengal. In Sustainable Waste Management: Policies and Case Studies (pp. 187-201). Springer, Singapore.
Chiriac, R.L. and Chiru, A., 2018. Adapting Operations And Project Management For A Prototype In Production Lines According To The Organizational Culture Sites Location. In Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE (Vol. 12, No. 1, pp. 697-703).Faculty of Management, Academy of Economic Studies, Bucharest, Romania.
deNadae, J. and de Carvalho, M.M., 2017. A knowledge management perspective of the project management office. Brazilian Journal of Operations & Production Management, 14(3), pp.350-362.
Demirkesen, S. and Ozorhon, B., 2017.Impact of integration management on construction project management performance. International Journal of Project Management, 35(8), pp.1639-1654.
Doz, Y., 2016. Managing multinational operations: from organisational structures to mental structures and from operations to innovations. European Journal of International Management, 10(1), pp.10-24.
Gill, T.D., Fleck, D., Boothby, W. and Vanheusden, A., 2016.The Leuven Manual on the International Law Applicable to Peace Operations Background, Purpose and Approach. Mil. L. & L. War Rev., 55, p.327.
Habibi, F., Barzinpour, F. and Sadjadi, S., 2018. Resource-constrained project scheduling problem: review of past and recent developments. Journal of project management, 3(2), pp.55-88.
Kanakaris, N., Karacapilidis, N., Kournetas, G. and Lazanas, A., 2019, February. Combining Machine Learning and Operations Research Methods to Advance the Project Management Practice. In International Conference on Operations Research and Enterprise Systems (pp. 135-155).Springer, Cham.
Kanakaris, N., Karacapilidis, N.I. and Lazanas, A., 2019. On the Advancement of Project Management through a Flexible Integration of Machine Learning and Operations Research Tools.In ICORES (pp. 362-369).
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Kiani, M., Hosseini, S.H., Taji, M. and Gholinejad, M., 2019.Risk assessment of blasting operations in open pit mines using fahp method. Mining of Mineral Deposits, 13(3), pp.76-86.
LARSON, E.W. and GRAY, C.F., 2018. Project management: the managerial process. McGraw-Hill.
Li, H. and Ma, Z., 2019, September.Research on Project Management and Operation of Aerospace Technology Application Industry in the New Era.In 2019 3rd International Seminar on Education, Management and Social Sciences (ISEMSS 2019).Atlantis Press.
Maylor, H., Meredith, J.R., Söderlund, J. and Browning, T., 2018. Old theories, new contexts: extending operations management theories to projects. International Journal of Operations & Production Management.
Meredith, J.R., Shafer, S.M. and Mantel Jr, S.J., 2017. Project Management: A Strategic Managerial Approach. John Wiley & Sons.
Niazi, M., Mahmood, S., Alshayeb, M., Qureshi, A.M., Faisal, K. and Cerpa, N., 2016.Toward successful project management in global software development. International Journal of Project Management, 34(8), pp.1553-1567.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and technology.Taylor & Francis.
Ochieng, E.G., Ovbagbedia, O.O., Zuofa, T., Abdulai, R., Matipa, W., Ruan, X. and Oledinma, A., 2018.Utilising a systematic knowledge management based system to optimise project management operations in oil and gas organisations. Information Technology & People.
Osei-Kyei, R., Chan, A.P., Javed, A.A. and Ameyaw, E.E., 2017. Critical success criteria for public-private partnership projects: international experts’ opinion. International Journal of Strategic Property Management, 21(1), pp.87-100.
Padalkar, M. and Gopinath, S., 2016. Six decades of project management research: Thematic trends and future opportunities. International Journal of Project Management, 34(7), pp.1305-1321.
Prasad, S., Woldt, J., Tata, J. and Altay, N., 2019.Application of project management to disaster resilience. Annals of Operations Research, 283(1-2), pp.561-590.
Ravinder, H. and Kollikkathara, N., 2017. Project Management in Operations Management Textbooks: Closing the Gap. Journal of the Academy of Business Education, 18.
Ravindran, A.R. ed., 2016. Operations research and management science handbook.Crc Press.
Strandhagen, J.W., Vallandingham, L.R., Alfnes, E. and Strandhagen, J.O., 2018. Operationalizing lean principles for lead time reduction in engineer-to-order (ETO) operations: A case study. IFAC-PapersOnLine, 51(11), pp.128-133.
Sunder M, V., 2016. Lean six sigma project management–a stakeholder management perspective. The TQM Journal, 28(1), pp.132-150.
Turner, R., 2016. Gower handbook of project management.Routledge.
Wang, X. and Zhang, Y., 2019. Engineering network operations for international manufacturing: strategic orientations, influencing factors and improvement paths. Production Planning & Control, 30(2-3), pp.239-258.
Yaghtin, M. and Abbasi, M., 2018. Selecting appropriate operations strategy using project management concepts: an economic analysis approach. International Journal of Business and Systems Research, 12(2), pp.148-161.
Zhang, S., Chan, A.P., Feng, Y., Duan, H. and Ke, Y., 2016.Critical review on PPP Research–A search from the Chinese and International Journals. International Journal of Project Management, 34(4), pp.597-612.