Business Studies

Respond to the following in a minimum of 175 words:

Choose 2 supply chain strategies aimed to improve organizational performance and enhance competitiveness.
Explain each strategy and give an example of an organization that has used each type of strategy.
Was each strategy successful? Why or why not?

Respond to the following in a minimum of 175 words:

• Choose 2 supply chain strategies aimed to improve organizational performance and enhance competitiveness.
• Explain each strategy and give an example of an organization that has used each type of strategy.
• Was each strategy successful? Why or why not?

ANSWER

Supply Chain Strategies

Supply chains encompass the end-to-end flow of data, money, and products; for that rationale, the way they are controlled influences an institution’s competitiveness in areas ranging from product rate to speed market and working capital needs. One of the supply chain strategies essential in enhancing institutional performance and competitiveness includes everyday low prices. In this strategy, the management must tell price conscious consumers that they will always get the best price; thus, they need not look to other competitors or wait for special sales. Walmart is one business that uses this strategy and hence has helped it acquire more customers. Its supply chain management plan has presented numerous sustainable competitive advantages, involving lower product costs and reduced inventory carrying costs.

The second strategy engages the use of technology within the supply chain management to stay on the cutting frame of a multifaceted business world. In the current business environment, customers are increasingly demanding and setting their expectations high for excellence and service. At the same time, supply chain executives have come to acknowledge that the current technology can help them maintain working visibility and accountability; hence, allowing them to keep tight control and stay ahead of the race. Amazon is one business that embraces the use of technology in its supply chain management (Min, Zacharia & Smith, 2019). The company uses diverse automation and robotic solutions to select and pack orders and store and stacking inventory. Technology has increased Amazon’s efficiency and delivery speeds together with cutting down on warehouse and staffing costs. In summary, both Amazon and Walmart strategies have successfully kept the businesses more competitive and resilient because of the proper management and urge to stay the best in the marketplace.

References

Min, S., Zacharia, Z. G., & Smith, C. D. (2019). Defining supply chain management: in the past, present, and future. Journal of Business Logistics, 40(1), 44-55.