Answer to Question #313886 in Management for Modi

Question

A toy company is working in the India market from the last couple of years. The company has many branches within the city and outside as well. The company thinking to start its own manufacturing unit and the government is also motivating manufacturers to start manufacturing within the Indian market.

Explain various competitive dimensions in detail that company needs to rework to get better market share and achieve business excellence in the supply chain. 

Answer 1

The five dimensions to capture the concept of competitive priority include cost leadership, product quality, delivery reliability, process flexibility, and innovation. Supply chain planning (SCP) is the forward-looking process of coordinating assets to optimize the delivery of goods, services and information from supplier to customer, balancing supply and demand.” SCP considers every stakeholder, from raw materials suppliers to end customers, to build a cohesive plan to optimize a company’s production, sales and operations and develop key performance metrics to ensure efficient and cost-effective operations.

It should consider the following strategies;

1. Engage in real-time supply chain planning

2. Develop a collaborative supply chain strategy

3. Adopt innovative supply chain automation solutions

4. Implement agile process improvements

5. Consider cost drivers and business impacts