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It must the compare it with the returns the company is earning without going for the proposal. The new vessels required for the project will increase the transportation time. Great lakes Carriers must consider the increasing international oil prices and its potential implications on the company's costs.
Supply Chain Considerations
There are a few supply chain issues that are important to be taken into consideration. It is important that Great Lakes Carriers consider the fact that the new proposal will increase the transportation time in many cases as compared to other alternatives such as rail and road. The company will have to see that how many clients will agree to trade off lower transportation time and costs with increased benefits of RFID. This is important because in many cases, businesses want their goods to be transported in minimum possible time and increased transportation time will make them reschedule their stocking timelines.
Recommendations
RFID technology has significant applications for transportation and logistics business. It increases the handling and shipping efficiency of cargo. Lost and damage threats can also...
However, incorporating this system would mean that GLC will now have to charge higher prices. At the same time, costs will also increase. GLC will have to consider, how many of its clients will want to trade off increased cost and time of logistics with benefits of RFID. A second important consideration is that, currently, GLC can charge higher prices for being the only company that provides this facility. In future, if more logistic companies introduce this technology, GLC will lose its comparative advantage and might be forced to resort to competitive pricing. Under such circumstances, it is recommended that GLC must only opt for this proposal if it can ensure increased brand loyalty and economies of scale so that average costs can be reduced and competitive advantage can be maintained. In a case otherwise, the proposal is not recommended considering the declining demand and increasing transport time and costs.
References
Visich, J., Li, S. & Khumawala, B. (2007). Enhancing product recovery value in closed-loop supply chains with RFID. Journal of Managerial Issues. 19(3), 436-445.
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