Logistics
Instructions
Assignment 4:
Week 4 – One Page Abstract, Annotated Bibliography
Write a draft abstract and more detailed outline of your research topic paper. This outline can follow the following format as far as section headings. But you do not have to follow it. You can add more sections. But there must be at least four sections highlighted by * and section titles.
Abstract*
Introduction*
Background
Literature Review*
Findings*
Conclusion*
Summary
Future Research Recommendation
•Written communication: Written communication is free of errors that detract from the overall message.
•APA formatting: Resources and citations are formatted according to latest APA style and formatting.
•Length of paper: typed, double-spaced pages with no less than a two page paper.
•Font and font size: Times New Roman, 12 point.
ANSWER
Optimization and Marketing Strategies Outline
Abstract
Optimization of supply chain-related processes and creation and execution of marketing strategies is key to the success of any logistics company and supply chain in general. An organization can only reduce the aggregate cost through the optimization of processes and activities. A holistic approach to optimization increases the level of productivity and efficiency. On the other hand marketing strategies allow organizations to increase brand awareness and sales. Logistics and manufacturing companies can contribute to effective service delivery and general development of the supply chain sector by optimizing their processes and executing exceptional marketing strategies. This paper explains examines optimization and marketing strategies and explains how they contribute to the success of a company.
Introduction
Optimization of logistic processes allows companies to increase their efficiency and effectiveness of carrying out operations in the supply chain. The optimization process helps a business to ensure that there is good management of the movement of goods and reduction in waste. Marketing in logistics begins will identifying the sources of goods and service, where they are produced and stored, planning on how goods will be transported, delivering them, and controlling the general flow of physical goods and information from the producer to the market. Transportation and distribution costs take a substantial portion of the full marketing cost. Hence, a logistics company needs to invest resources and time in developing effective marketing plans.
Background Information
Marketing strategies refer to the combined long-term as well as forward-looking approaches and tactics designed to help a business reach prospective customers and facilitate its growth over time. These approaches are brought together to form one detailed marketing plan. Effective marketing plans are often developed based on the outcome of the market research regarding what businesses and customers need and the existing market conditions. Marking plans also comprises goals and market mix that play a key role in profit maximization. On the other hand, optimization involves taking the necessary actions to realize a greater level of efficiency, in this case, a high level of efficiency in transport and logistics. Optimization marketing strategies is creating the best alternative that will reduce cost and maximize organizational performance. Thus, by maximizing on desired outcomes and minimizing the undesired ones (Phelan et al., 2011). Optimization is often limited by a lack of adequate information and time.
Literature Review
Many logistics businesses are trying to execute various measures to boost their performance as well as market share and remain active in the logistic and transport industry. Companies that look forward to increasing their profits recognize the importance of streamlining their business processes and creating new value for the products and services that they offer. The main and common goal for logistics businesses is realizing the effective delivery of goods and services to customers while maintaining a high level of satisfaction. For an organization to be a leader in the industry, it must reduce cost, maximize its profits, and enhance its competitiveness, outcomes that can be realized through optimization and execution of exceptional marketing strategies.
Findings
Marketing strategies are key to the success of logistics companies. Businesses must implement the best strategies that will fuel success. Companies need to adopt optimization techniques to improve performance. Such strategies lead to a reduction in the cost of operation, reduction in time and waste, increase in profit among other benefits. Some of the optimization strategies include the integration of advanced technologies in the business to increase efficiency and productivity, reducing lead times by improving approaches to ordering and delivering goods, using insights from experts to make improvement where necessary, seeking management support when devising ways to improve processes among others (Kritzinger & Weideman, 2013).
Conclusion
Indeed, for an organization to continuously make a profit and operate in the foreseeable future, it must remain active in the market. This can only be achieved when it develops and executes marketing strategies that can drive an organization to the next level in terms of performance. Different processes and marketing approaches must be optimized in a bid to minimize cost, maximize returns, increase market share, enhance productivity, and increase the competitive advantage in the industry. Undeniable, customer’s tastes and preferences change with time. An organization cannot afford to lose customers. They must do what it takes to remain competitive, for instance, by using advanced technologies to improve service delivery.
Further research recommendation
Further research can be carried out to determine how the internet and search engines can be used to optimize supply chain activities.
References
Kritzinger, W. T., & Weideman, M. (2013). Search engine optimization and pay-per-click marketing strategies. Journal of Organizational Computing and Electronic Commerce
Phelan, W. L., Reagen, J. Q., Peo, C. R., Hackney, M. L., Pedersen, E., Skrzypczak, M. P., & Wells, J. C. (2011). U.S Washington, DC: U.S. Patent and Trademark Office.
Annotated bibliography
Yimer, A. D., & Demirli, K. (2010). A genetic approach to two-phase optimization of dynamic supply chain scheduling. Computers & Industrial Engineering, 58(3), 411- 422.
In their article, Yimer & Demirli focus on how the supply chain can be optimized. According to the authors, leanness and agility have become essential strategic concerns for most manufacturing companies in today’s competitive business environment. Agility and leanness can make it possible for an organization to increase its market share. The authors suggest that the build-to-order production strategy has become a well-known operation strategy that helps realize the mass-scale customization process. The build-to-order combines the features of the Make-to-order approach with a projection driven make-to-stock approach. They explain the supply-related activities associated with assembling, distribution scheduling of customizable goods as well as procurement planning of raw material. Generally, Yimer & Demirli describe how manufacturing companies can reduce aggregate cost through procurement and application of supply chain strategies.
Varma, V. A., Reklaitis, G. V., Blau, G. E., & Pekny, J. F. (2007). Enterprise-wide modeling & optimization—An overview of emerging research challenges and opportunities. Computers & Chemical Engineering, 31(5-6), 692-711.
The articles explain how companies can optimize their operations and supply chain-related activities under uncertainty. The authors look at the effect of enterprise-wide cross-functional coordination on the performance and growth prospects of an organization. According to the authors, cross-functional coordination refers to the incorporation of the tactical and strategic decision-making process that involves control of both inventory and financial flows (externally and internally) and the deployment of resources. The article suggests that effective planning and coordination of supply chain activities are key when it comes to the optimization of processes.
Fugate, B., Sahin, F., & Mentzer, J. T. (2006). Supply chain management coordination mechanisms. Journal of business logistics, 27(2), 129-161.
(Fugate et al., 2006) explain that the supply chain consists of trading partners that are connected with product/service, information as well as financial flows. Proper management of such flows needs the development of synergistic relations between the supply and the delivery/distribution partners to cut down operational costs, increase profitability, and maximizing customer value. The article suggests that coordination is key for the successful management of the supply chain. An organization can use a coordination mechanism to reduce cost and sub-optimization in the supply chain. Some of the mechanism include non-price, price as well as the flow coordination mechanism. The authors state that most managers prefer the flow coordination approach over the other mechanism. They believe that there ought to be a holistic approach to the optimization of supply chain processes since the optimization of part of the supply chain system leads to sub-optimal performance. This in turn leads to inefficient allocation of resources, weak strategic position, and higher aggregate cost.
Barcik, R., & Jakubiec, M. (2013). Marketing logistics. University of Bielsko-Biała, 5-12.
This article examines marketing logistics. The writers believe that there is a close relationship between marketing and logistics. (Barcik & Jakubiec, 2013) suggest that marketing logistics is a term that is derived from the two concepts following their close relationships. According to them, marketing logistics refers to a system of planning and taking the necessary actions that guarantee that requested/ordered goods will be delivered on time using goods and effective means of delivery in the quickest way possible. The authors focus on the strategies that can be used to facilitate the distribution of goods and marketing within the supply chain. They explain the concepts regarding logistics and marketing as well as logistic-marketing management. In their article, they argue that in preparing a supply chain strategy for an organization, special attention should be given to the relationship between transportation and marketing strategies.
Van Hong, P., & Nguyen, T. T. (2020). Factors affecting marketing strategy of logistics business–Case of Vietnam. The Asian Journal of Shipping and Logistics, 36(4), 224- 234.
In this article, the authors that an effective marketing strategy greatly contributes to the success of the business including the logistics service sector. Hence, professionals and companies in the industry need to understand that execution of good marketing strategies can enhance organizational performance. Some of the key marketing strategies include the development of business networks and the creation of well-trained qualified human resources. The article examines the factors the logistics marketing strategies in developing countries. Van Hong & Nguyen suggest that external factors have a great impact on an organization’s marketing strategies, for instance, the logistics infrastructure.
Kritzinger, W. T., & Weideman, M. (2013). Search engine optimization and pay-per-click marketing strategies. Journal of Organizational Computing and Electronic Commerce
This article explains how businesses can optimize their marketing approaches through an online search engine. The authors explain how websites are being used in electronic commerce and how search engines reduce the cost of marketing. Logistics companies can take advantage of the search engine and the interment to execute their marketing strategies. The website makes it possible for logistic companies to collect information that is useful in the optimization process. Thus, it allows the exchange of key information. Search Engine Marketing is an emerging approach that can be applied by businesses to promote their services.
