Basic Supply Chain Strategies and Purchasing Techniques

what are the basic supply chain strategies? Explain each strategy, providing relevant examples. A supply chain strategy is frequently miss-understood with supply chain management, where supply chain actions are controlled to decrease costs, but with supply chain strategy it defines how the supply chain should function in order to compete. Supply chain strategy is an iterative method that evaluates the cost benefit trade-offs of prepared components. A well accomplished supply chain strategy results in value creation for the business. The basic supply chain strategies are many suppliers, few suppliers, vertical integration, keiretsu network, and virtual company. The many suppliers strategy has many sources per item, it has†¦show more content†¦For example buying or ordering something you want that you cannot find it in local stores off the internet. Funds transfer goes with electronic ordering because it is when money is taken from your account (with your consent) and placed into someone else’s account and vice versa you may be receiving money or transferring money to someone else’s bank account. For example you purchase an item of clothing off the internet and in order for the company who has the item of clothing to send it to you, you have to pay for the item first so you wound then proceed to means of payment where you will pay the amount asked for the item with shipping fees if any. Then the money needed for this item will be transferred from your account to the sellers account. PayPal is a company that most internet websites use. Both electronic orders and funds transters Reduces cost by reducing paperwork; also increases the speed of ordering. electronic data interchange Is the controlled transmission of data between organizations by electronic means. It is used by companies to exchange information and to transfer electronic documents and files or business data from one computer system to another computer system, for example from one trading partner to another trading partner without human involvement. EDI has replaced the fax machine and mailing list when it comes to information sharing. Using EDI,Show MoreRelatedHistory Of Green Supply Chain Management1324 Words   |  6 PagesEnvironmentally sustainable (Green) supply chain management has gained attention within the area of industry, because the environmental issue is one of the serious concern for governments. Green supply chain management is one of the key approach for Chinese manufacturing industry to achieve their market share objectives and to make maximum profit for the companies(van Hock and Erasmus, 2000). Green supply chain management is a management with com bination of environmental and supply-chain, considering environmentalRead MoreDemand Forecasting And Supply Chain1628 Words   |  7 Pagesglobal logistics and supply chain. In general, logistics and supply chain are the key to maintain the normal operation of the business. However, globalization has changed the way the business operates, it gives companies potential threats but it also provides valuable chances. In this regard, it is necessary to manage supply chain. Demand forecasting and estimation provide significant information about the market and order, and clearly identify the potential problems in supply chain (Skiver 2015). ThisRead MoreForecasting : Assessment Of Forecasting1003 Words   |  5 PagesSimply stated, forecasting is a technique utilized in efforts to match supply with demand. Accurate forecasts are necessary throughout the supply chain to guide decisions regarding operation activities. â€Å"Poor forecasting can result in poor inventory and staffing decisions, resulting in part shortages, inadequate customer service, and many customer complaints† (Collier Evans, 2013, pg.227). Poor forecasting can also result in excess inventory throughout the supply chain. Since forecasting is suchRead MoreBose Corporation Is A Massachusetts Based Global Supplier Of Consumer Electronics Essay1689 Words   |  7 PagesBose Corporation is a Massachusetts based global supplier of consumer electronics. Founded in 1964 by MIT-professor Dr. Amar Bose, the company’s strategy has been to combine technology with creative people to develop products that offer high performance and are simple to use, yet sophisticated (Moody, 1991). Bose prides itself on its creativity and innovation in producing quality audio components, like stereos, noise canceling headsets and premier automobile stereo systems. Bose is also known forRead MoreCase Study Management Functions Of Nissan Motor Company Essay1571 Words   |  7 Pagesand generate value for its customers. CPM and PERT will be discussed to see how they fit into the company’s operational and project management systems. Lastly, this paper will identify the steps used to developing a forecasting system and also supply chain risk and associated risk reduction tactics in the wake of a natural disaster. 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He does this by building and maintaining an effective executive team and by closely monitoring and comparing operational and financial results to forecasts and budgets. In addition to day to day oversight, the director must calculate an operating strategy that steers the company towards its long term objectives, taking appropriate correctiveRead MoreRiordan Manufacturing Supply Chain Design1151 Words   |  5 PagesRiordan Manufacturing Supply Chain Design Shante Moore University of Phoenix/OPS 571 â€Æ' Introduction Riordan Manufacturing is a global plastics manufacturer and industry leader in the field of plastic injection molding with locations in Georgia, Michigan, California, and their most current expansion in 2000 to Hangzhou, China. The plant located in China manufactures fans using a make-to-stock operation that uses a forecasting method to determine future demand. 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In addition to day to day oversight, the director must calculate an operating strategy that steers the company towards its long term objectives, taking appropriate corrective Read MoreRiordan Manufacturing Supply Chain Design1165 Words   |  5 PagesRiordan Manufacturing Supply Chain Design Shante Moore University of Phoenix/OPS 571 â€Æ' Introduction Riordan Manufacturing is a global plastics manufacturer and industry leader in the field of plastic injection molding with locations in Georgia, Michigan, California, and their most current expansion in 2000 to Hangzhou, China. The plant located in China manufactures fans using a make-to-stock operation that uses a forecasting method to determine future demand. A review of their strategic capacity

Essay on Reiss Three Year Marketing Plan - 4683 Words

1. INTRODUCTION Created in 1979 by David Reiss, Reiss is has developed into a powerful brand offering stylish clothes at affordable prices. 2006 proved to be a successful year for the organization, where it achieved  £6.8 million in operating profit and sales of  £44.5 million. Currently, it has 39 stores worldwide and is expanding rapidly. The following 3 year strategic marketing plan will demonstrate the steps Reiss need to take in order to become a dominant force in the UK and a strong international brand. Keys to success: †¢ E-business development †¢ International expansion †¢ Domestic market growth †¢ Product development †¢ Brand awareness †¢ Organization flexibility 2. SITUATION ANALYSIS 2. 1 MACRO ENVIRONMENT †¢Ã¢â‚¬ ¦show more content†¦Ã¢â‚¬ ¢ Department stores, which have a distribution of 11.7%, have seen a rise in popularity. This can be demonstrated in figure 4. o Threats †¢ Are projected to spend less because of a recent increase in interest rates, which the Bank of England increased to 5.25% on the 11th of January 2007 (BBC News). †¢ Due to inflation, they do not spend as much because of increasing utility bills and mortgages. Women mainly fuelled the booming clothing industry years ago, which was driven by the surge in personal debt, but no longer do a hasty shop, but rather think twice before they purchase clothes. †¢ Although they are more fashion conscious, they have become less brand loyal, especially with competition surging. †¢ Have become more value conscious, meaning they are keen to cheaper alternative, for example. Primark. 2.4 COMPETITOR ANALYSIS †¢ Overview o MS, the Next group, Arcadia, Matalan are market leaders in the UK, which can be observed in figure 5. o By observing figure 6, Reiss is in the range of above average value, at affordable pricing. Its close competitor is Zara, with relation to positioning. †¢ Opportunities o Next is becoming vulnerable, which could open some market share to Reiss. o Reiss has opened 39 stores in total and that is more than close competitors such as Paul Smith, Whistles, and Joseph. †¢ Threats o Marks Spencer is moving gradually moving itself towards theShow MoreRelatedR R Case Study Solution1354 Words   |  6 PagesRamp;R Introduction of Case Study Bob Reiss in 1983 observed with interest the success in the Canadian market of new game board called â€Å"Trivial Pursuit†, The sale of the game in the US tended to be approximately ten times those of sales in Canada since â€Å"Trivial Pursuit† had sold 100,000 copies .Now Reiss thought game make a boom in US market and this make a profitable opportunity for him. 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Performance Appraisal & Management Rewarding-Samples for Students

Question: You are expected to design a reward scheme for UzElectron LLC, a store marketing ENCOM Local Manufacturing Company household appliances on Credit Payment terms, which is launching its operations January 1, 2018. Answer: Introduction In our todays economic world, competition plays a primary role in any business that operates in a free market. The behavior in leadership is core when it comes to the issue of engaging the employees. Involving the employees leads to easier goal achievement since all the workers of a given company have a central goal known to them and hence they strive towards achieving it. An upcoming business has identified a potential market for appliances and hence needs to enter the market. This paper will be visiting the strategies that UzElectron should put in place so as to succeed in its plans and objectives. Overview The leaders in UzElectron will need to make sure that the employees are engaged by making sure that they: Avail a friendly work zone between the workers in UzElectron and the management. Inspire confidence in the future of the business. The latter will be done by encourage the doing more and having less policy(Noe, 2012). Encouraging upward communication with the senior officials. The latter will be meant to bring openness and a situation whereby workers will feel free.it will be the duty of the leaders of UzElectron to make the workers feel that they know everything about their company. To instill high levels of engagement in employees, the UzElectron leaders should be able to understand that their behavior matters a lot in the instillation of high levels of engagement of the employees(Pfeffer, 2013). Internal relationship and training of workers In the workplace that exists today, the performance interrelationship and the duties performed by the management have become a key factor of consideration as far as the performance of an organization is concerned. Businesses have put more pressure on the stakeholders for them to remain active and hence see their survival in the entire market(Noe, et al., 2014). The UzElectron Company is one of these companies that will need to maintain high levels of interrelationship between the business management and the goals of the business with an aim of being efficient and good enough to execute better business strategy. The latter will result to business survival in the market. The human resource professional have a deeper understanding of optimal management system and hence they come across numerous obstacles. Performance management does not only involve the employee performance appraisal but involves many more issues. An appraisal that is properly constructed includes the all year round dialogue(Clarkson, 2014). For the UzElectron performance management to be effective enough, the managers will be required to: Align the particular employee day to day activities with the objectives of the business Give visibility and also the clarification accountability which is related to the goals of UzElectron business Provide a documentation that is required for legal purposes and also for the matter of decision making(Cascio Aguinis, 2014). Make sure that there is a trainer who visits the company regularly to oversee that the workers are updated on the existing technology. They also have to play the following roles for a good performance of UzElectron: Deliverance of regular job feedback. Set and communicate clear performance expectations. Job Analysis and Evaluation The Grading Approach For any pay to be effective enough, it should be tied within the performance. A time based pay will also increase the motivation of the workers in UzElectron and hence increase their performance. Equity in payment. Workers expect to be paid an amount that will cater for the basic needs, have some cash for recreation and then have some cash to keep up with issues to do with inflation. After some time, the workers will want to have the kind of pay that will cater for the retirement benefits. For the case of UzElectron, the company will be small since it will be just in its initial stages, the manager will have to consider squeezing some cash to have the workers feel motivated by paying them money that they would feel is able to cater for their expenditure and also enable them to save(Edgren, 2012). The business stakeholders will also involve the workers in the meetings so that they feel that they belong there and this will lead to the workers doing their job happily. Given that the latter would be put into consideration, the workers will just equalize their pay with the work they do and hence good pay will mean good performance and hence good sales. The business also needs to have different positions for the smooth running and allocation of duties. The following staffs should be identified in the UzElectron Gatekeeper Sales subordinate Sales administrator Manager Due to the variation in job positions, there are some variations in salaries and this will be shown in the table below. ? of Grade Total scores Job position Category of personnel salary for one employee Number of workers Overall expenditure ONE 10-40 Gatekeeper Support staff 200 000 1 500, 000 TWO 40-90 Sales subordinate Junior staff 400 000 4 1,600, 000 THREE 90-150 Sales Administrator Senior staff 600 000 1 600, 000 FOUR 150-210 Manager Administrative staff 1,900, 000 1 1,900 000 Determination of Job Positions Job performance Some individuals have outstanding job performances. In a case whereby there are employees who have an outstanding performance in UzElectron, then they will be rewarded accordingly as this will motivate them to work harder towards achieving greater performances(Carevi?, et al., 2014). Level of employment The kind of a job that is performed in UzElectron will also lead to the disparities in the pay among the workers. Workers will be paid differently from managers simply because of their levels of employment. Labor demand and supply The last thing to consider in UzElectron when giving out salary is the labor demand and supply(Cascio Aguinis, 2014). If the demand for labor is very high, then UzElectron will have to pay the workers a salary that will be slightly higher than their counterparts with an aim of retaining them. With time, the company will consider introducing the promotion pay as people will have to be promoted. Performance appraisal and Management rewarding Different organizations have different processes of reward management. For the case of UzElectron, the company will be required to hire the employees that meet the requirements and then it would go ahead to look at the kind of performance they will be giving out(Conger Kanungo, 2012). The company will need to observe whether the workers have the skills or they need training. The remaining task will be the kind of rewards that the business would give to the employees. After giving out the rewards, it is the duty of the leader to analyze the effects of the reward on the future life of the business. Having a payroll management will help a lot in UzElectron. Payroll management is a term that is used to refer to the tactics of administering the salaries of employees in any given organization. The activities that come up here include the calculation of the salaries of the employees, the deduction of taxes and the disbursement of the wages too. The administration of the salaries of all the employees is not an easy task. The Human resource together with the finance department are required to work together with an aim of calculating and also disbursing the salary to the employees(Conger Kanungo, 2012). Due to the latter reasoning, the payroll management can be subdivided to payroll accounting and payroll administration. Through the employment of the different methods of job e valuation in UzElectron, the business will be able to determine the relevant content and give a value determination of the positions and the equitable compensations which are competitive too(Conger Kanungo, 2012). The content of a job is evaluated on the bases of the type of the job, the skills and the knowledge that is required. The following three kinds of job content should be evaluated in UzElectron Ranking This method will be used to rank each position in the organization from the highest to the lowest. Here, each job is assigned to a particular rank depending on the overall value and the complexity in an organization. The hierarchical flow of in an organization is a good example of the rank method. This method is suitable to the small businesses since it is very simple. This would hence be suitable for UzElectron(Conger Kanungo, 2012). However, it is not easy to maintain in more complex companies. Classification This classification method uses categories or classes of similar jobs. Good example of this include the managerial and the executive, skilled and the semi-skilled. This method goes well with big companies and hence it will not be advisable for UzElectron to adopt it. Point job evaluation The points work assessment strategy utilizes a built up scale - whether tweaked or following a format - of key occupation factors and related most extreme focuses for each position inside your association. Cases of variables incorporate abilities, responsibility and exertion. Each factor may have sub-factors; aptitudes, for example, may incorporate sub-factors, for example, instruction and preparing. When you have endorsed your association wide factors and built up a point outline, evaluate each position entirely(Clarkson, 2014). Occupations are at long last positioned in view of aggregate number of focuses, from most astounding to least, and pay is allotted as needs be. Employments with comparable point adds up to by and large have comparative pay scales. Conclusion For any company that needs to establish itself, following the above structure is essential. The company should be able to employ the workers who have the technical. The employees should also be appraised in accordance to their qualification and performance. Once the above has been met, it will be easy to survive in the market. References Carevi?, M., Ki, P. Kuhta, F., 2014. Minimum Wages as an Obstacle to the Free Provision of Services. 3(1) ed. s.l.:Croatian Yearbook . Cascio, W. F. Aguinis, H., 2014. Applied psychology in human resource management.. s.l.:s.n. Clarkson, M. E., 2014. A stakeholder framework for analyzing and evaluating corporate social performance. Academy of management review. 20(1) ed. s.l.:s.n. Conger, J. A. Kanungo, R. N., 2012. The empowerment process: Integrating theory and practice.. s.l.:s.n. Edgren, G., 2012. Fair labour standards and trade liberalisation.. s.l.:Int'l Lab. Noe, R. A., 2012. Gaining a competitive advantage.. Irwin: McGraw-Hill. Noe, R. A., Hollenbeck, J. R., Gerhart, B. Wright, P. M., 2014. Gaining a competitive advantage.. Irwin: Mcgraw Hill. Pfeffer, J., 2013. Producing sustainable competitive advantage through the effective management of people. The Academy of Management Executive, Volume 9(1), pp. 34-56