FASH455- Competing in Flat World Questions Ch. 1-11

FASH455- Competing in Flat World Questions Ch. 1-11 -...

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Questions “Competing in a Flat World” Chapter 1 1. Using the information in the Preface and the Appendix, as well as Chapter I, describe the company Li and Fung. Li and Fung: one of the largest sourcing companies in the world. They oversee and manage a network of over 8,300 suppliers served by more than 70 sourcing offices in 40 countries. They are based in Hong Kong and produce many things. This is everything from apparel to toys. 2. Why is this book written around the concepts in the book “The World is Flat” by Thomas Friedman? This book talks about the importance of networks of suppliers in this new “flat world” of technology, globalization and other forces that have transformed the ways companies do business. It explains how organizations who have embraced it and understand how it works will succeed over others.Organizations need to be remade and adapted to a new mindset in order to seize these opportunities. For example, Li and Fung embodies the flat world and the various flatteners, particularly dispersed manufacturing. 3. Who are the authors of “Competing in a Flat World”? What are their backgrounds? Dr. Victor Fung, Dr. William Fung, and Yoram Wind are the authors of this book. Dr. Victor Fung is the Group Chairman of Li & Fung and Vice Chairman of the International Chamber of Commerce. He holds a Ph. D. from Harvard. Dr. William Fung is Group Managing Director of Li & Fung and has chaired the Hong Kong General Chamber of Commerce and the Hong Kong Exporters Association. Yoram Wind is an expert consultant and lecturer on business buying behavior, market segmentation, and marketing strategy at the University of Pennsylvania. He is a professor there and holds a Ph.D from Stanford University. 4. What is cross docking? Cross docking is when goods are brought directly to a place without stopping in any sort of warehouse. Frequently using airfreight, arranging for the picking and packaging of products for individual stores to be done at the factory in Asia rather than distribution centers. Factory workers putting the domestic retail price tags and ID tags on the garments before they leave for the retailer’s domestic distribution center. Goods from factories could be taken out of their boxes and placed directly onto racks quickening the process. This also resulted in lower costs of creating assortments and putting on price tags, and allows for adjusting quantities. 5. Who is Les Wexner and what did he learn about competition? Les Wexner, of The Limited brand’s Columbus, Ohio headquarters, realized he was not competing against his suppliers, but he was competing against other retailers with their own networks. A level of trust and working together became required to optimize the entire supply chain. He set a time limit of 30 days for any order to be produced, pioneering the concept of quick response manufacturing.
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