Coordinate with customer relationship management to identify customer articulated needs 2. Select materials and suppliers in conjunction with procurement 3. Develop production technology in manufacturing flow to manufacture and integrate in to the best supply chain flow for the product/market combination G. Manufacturing Flow Management The manufacturing process produces and supplies products to the distribution channels based on past forecasts. The production process has to be flexible to respond to market changes and Mass Customization must absorb. H. Physical Distribution This is the movement of a finished product / service to customers.
Creating & delivering customer value by developing suitable Product ranges & Services b. Explain what Marketing environment means and how microenvironment factors affect retailers. A company’s market environment consists of the actors and forces outside marketing that affect marketing management ‘s ability to build and maintain successful relationships with target customers. The marketing environment is made up of microenvironment and a macro environment. The microenvironment consists of the actors close to the company that affects its ability to serve its customers.
Industry analysis is useful for corporate strategy and business strategy. Corporate strategy helps to decide in which industry the firm should work with and how should it allocate resources among them. Whereas, business strategy focuses on establishing competitive advantage by studying needs of the customers and the way to compete with competitors. To earn profits a firm must understand customer needs by creating value for them. But to create a value they should obtain goods and services from suppliers.
By means of solution validation, it becomes possible to report and prioritize problems recognized through it for a future solution. Such problem as, for instance, inability to meet the need of a stakeholder would be resolved with the help of business analyst who will help to determine the most proper action that is needed to take within the process. It is principal for the business analyst to assess defects and issues that were identified during the aforementioned evaluation as they may significantly influence the operation of the organization. That includes the defining of the defect severity, the possibility of the appearance of the defect, the severity of the impact of business and ultimately the potential of the business to understand the influence of the defects. Also, the business analyst is required to indicate which defects are needed to be resolved, which of them can be decreased by means of workarounds or related approaches as well as which defects can be accepted until means exist to address them.
It is necessary to assess the financial impact of broad level strategies and practices that contribute to the flow of products in a supply chain. Since logistics cut across functional boundaries care must be taken to assess the impact of actions to influence costs in one area in terms of their impact on costs associated with other areas (Cavinato, 1992). For example, a change in capacity has a major effect on cost associated with inventory and order
Managerial accounting helps to create future plans and providing accounting information used in the decision-making process. As such, this plans indicates about which products should be sold by the organization, which markets the organization should enter and at what price should they charges, and evaluating proposals for capital spending. This plans will act as a guidelines for the managers as well as the employees in the organization to realize their goals. Besides, managerial accounting provides data on past performance which could be used as a model for future performance of the organization. This past performance is important to use by the company in order to make the comparison between the past and current performances.
When making decisions on inventory, management has to find a compromise between the different cost component, such as the cost of supplying inventory, inventory holding cost and cost resulting from sufficient inventories (Peterson and Silver, 1998; Zipkin, 2000). According to Miller (2010), inventory control is the activity which organizes the availability of item to the customers. It coordinates the purchasing, manufacturing and distribution functions to meet the marketing needs. This role include the supply of current sales items, new product, consumables, spare parts, obsolescent items and all other
This approach can enable the organisation under consideration to gain benefit in controlling costs while fulfilling the demands of consumer services (Basu, 2001). The function of consumer service is considered as a designed standard for the satisfaction of consumers in such a way that the business intends to deliver to its consumers. Moreover, the order processing is designed for taking the consumer orders while executing the specific aspects of the consumers’ demand related to the products (Ellis,
SWOT analysis is a useful method for understanding your strengths and weakness, and for determining the opportunities that open to you and the threats you face. It can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.
The quality and performance of the intermediaries have a critical impact on achievement of company's goals. In establishing a competitive advantage, distribution channels are of the significant importance. Each channel is designed on the basis of the buyer's needs, the buyer's purchasing behavior, and the nature of the buying process. The need to use more than one channel arises from the differing tasks demanded either by product variety, or market