Reference no: EM133961486
Question
The ability of organizations to adapt to the constant changes that the markets present will allow them to stand out from the competition. Therefore, it is important that they explore new channels without neglecting their sourcing, manufacturing and delivery capabilities to efficiently reach the customer. In this simulation, instead of choosing one supplier, I used all of them. Kept my highest orders with the supplier with the lower price to secure a lower budget but I also requested product from other suppliers to prepare for possible missing deliveries.
Companies must have the ability to dialogue directly and openly with their buyers. This will allow customers to get involved with the brand, increasing the bond between both actors and generating greater trust. In the simulation, reading the messages and emails is strictly important since it will give you a realistic idea on how the customer is reacting.
In an increasingly competitive business world, it is necessary for companies to implement strategies to innovate their processes and provide better products or services. How to do it? You can drive partnerships with other companies, invest in technology, and embrace digital transformation. These actions, in the medium and long term, will allow them to gain a greater presence in the markets thanks to diversification. In this simulation, understanding the unique situation with the suppliers make the different, I never cancelled orders but always took the discounts and offers available for them.
The success of organizations is based on having the best talent. Therefore, it is necessary that they adopt policies to attract and retain the best professionals and provide them with training on how each of the processes involved in the supply chain works.
Efficiently managing activities and processes in the supply chain will allow companies to manufacture and ship products in the shortest possible time to customers, without compromising quality. With the advancement of technology and constant changes in the markets, companies are obliged to implement new policies so as not to jeopardize their position and achieve their strategic objectives.
What are you thoughts regarding this experiences?