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Operations and Supply Chain Strategies Answer Dec 2021.pdf...

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NMIMS Global AccessSchool for Continuing Education (NGA-SCE)Course:Operations and Supply Chain StrategiesInternal Assessment Answers Dec 2021Question:ABC Ltd. company is operating in FMCG sector and company is planning to launch newproduct with own brand. Because of various product mix customer demand is increasing.However performance of the firm is not increased. Consider you are appointed as supplychain managers, advise some strategies to the firm that eventually increase performance.Answer:Supply chain management refers to a company's manufacturing and logistics processes, whichmay occur from the acquisition of raw materials to the actual supply of goods to fulfilmentcentres and points of sale. Any company's performance is inextricably tied to how well itmanages the supply chain. SCM practices prosper not only by lowering costs, but also bygrowing investment sustainability, commercial expansion, and lowering the overall cost ofdoing business. Businesses with weak supply chain controls are more likely to be impacted byeconomic downturns. As a consequence, an appropriate or representative use and maintenanceof their supply chain mechanism will differentiate a failing from a profitable business.Even though a company's brand success is tied to its supply chain management, this factor isoften overlooked; in fact, supply chain management attracts the smallest strategicconsideration as compared to other aspects of business operations. Not just that, but figuressuggest that supply chain management is one of the most misunderstood aspects of strategicmanagement.Some of the strategies the firm ABC Ltd. may apply that eventually increaseits’performanceare:Strategy for consumer retention and loyalty:Profitable sales growth is a sure indication of a company's prosperity. Customer care andmeeting customer needs are two of the most significant aspects of this. Consumer retention andloyalty are heavily dependent on a brand's supply chain delivery efficiency, so the customermust be prioritised when developing a supply chain strategy. The success of a company'ssupply chain may have a significant effect on how customers perceive the brand. One of themost important reasons for a business to enhance its supply chain management is customerloyalty.Cost Analysis:Recalculating the cost of satisfying consumer demand is another approach to improve supplychain management and overall business performance. The cost of the supply chain will accountfor a considerable portion of a product's overall cost. Furthermore, a surplus of inventory willstifle cash flow by tying up working capital. One way to learn how supply chain costs impactmarket performance is to manage the costs of meeting consumer needs. .In the course ofmanufacturing or purchasing, storage, and distribution to consumers, some goods maynaturally incur higher costs than others. There is a fine line between cost-cutting in the supplychain that is necessary and unnecessary. Instead of concentrating only on cost-cutting, theemphasis should be on eliminating non-value-adding operations and practices to increaseperformance.Partnering with Suppliers:No matter how effective a company's supply chain management is, a few of the ties, such asthe retailer, are unlikely to be under the control of the company. Suppliers play a major role ina company's growth, so partnering with them to reduce supply chainvolatility is important.
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Supply Chain Management, Operations and Supply Chain Strategies

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