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Value Chain Analysis
Manufacturing companies create value by acquiring raw materials and using them to produce something useful. Retailers' range of products has to be convenient to customers. Activities that an organization engages in should add value to the service and products that an organization produces. This can only be achieved if the activities are run at optimum level (Mind Tools, 2013). For an organization to gain real competitive advantage the value obtained should exceed the costs of running them. Some of the primary activities involved here include inbound logistics, operations, outbound logistics, marketing, and sales. Inbound logistics are goods obtained from an organization's suppliers to be used for producing end products. Raw materials and goods are manufactured into final products (Mind Tools, 2013). Value is added to a product as it moves through the production line. Products that have been produced are distributed to distribution centers, wholesalers, retailers, or customers. Distribution of finished goods is referred to as outbound logistics. Marketing bit ensures that...
After a product has been sold an organization can offer support services like after sales training, guarantees, and warranties to its customers. Support activities like procurement, technology development, human resource management, and firm infrastructure helps an organization to develop competitive advantage.
Balanced scorecard is a strategic planning and management system used by businesses and not for profit organizations to align their business activities to their vision and strategy. It helps in improving internal and external communications as well as enhancing their capability to monitor organization performance against strategic goals. Balanced scorecard is a performance measurement framework that adds strategic non-financial measures to traditional financial metrics (Voelpel, Leibold, Eckhoff & Davenport, 2006). The balanced scorecard concept is based on the premise that measurement motivates. Staffs are motivated to actualize an organization's vision. The concept goes beyond performance…
References List
Mind Tools (2013). Porter's Value Chain. Retrieved September 11, 2013 from http://www.mindtools.com/pages/article/newSTR_66.htm
Voelpel, S., Leibold, M., Eckhoff, R., Davenport, T. (2006). The Tyranny of the Balanced
Scorecard in the Innovation Economy. Journal of Intellectual Capital, 7(1), 43 -- 60.
Furthermore, the Costco model demands an ever-changing assortment of goods. Packaging is critical, in that it must be designed to drive the average ticket consistently higher. Costco and other club stores rely heavily on packaging strategy to squeeze out growth. Costco also pulls value from their logistics. The company operates what they term depots, which are state of the art distribution facilities, which the company feels gives them a competitive
Value Chain Analysis: Overview of Two Approaches for Supervisor In business, no one wants to be at the helm of what is merely termed a supply chain. Rather, a company wants to boast of its having a value chain, a chain that achieves a maximization of the inbound logistics, operations, outbound logistics, marketing and sales and service. Obviously, the ideal is to obtain the maximum value for the company from each
Tesco's Value Chain Analysis Value chain is defined as the special links that exists between the key value adding activities as well as their interfaces with all of the supporting activities (Lynch,2003). The concept of value chain has for along time been implied as a very strategic tool for evaluation purposes and is used for the purpose of distinguishing the various strengths as well as weaknesses that exists within the value
Lowe's Supply Chain Integration Lowe's Companies. Inc. (NYSE: LOW) is headquartered in Mooresville, North Carolina and currently employs approximately 262,000 people as of January 31, 2014, making it one of the largest home improvement retailers in North America (Lowe's Investor Relations, 2014). The company is renowned for its enterprise IT expertise, including integration of a large-scale SAP Enterprise Resource Planning (ERP) system throughout its globally-based supply chain (Songini, 2002). For Lowe's,
HP has been able to distinguish itself, despite the increasingly pluralistic industry structure, to stress its ability to provide helpful advice to home customers and small and medium size businesses, thus enhancing its differentiation in the industry, and creating a friendly yet professional image for itself in the minds of consumers. This makes consumers specifically look for HP products, rather than relying on middleperson's advice, and other aspects of the
Value Chain of Marathon Oil When considering the ever-changing and highly competitive global landscape of business today, firms must stay at the cutting edge of their respective fields in order to sustain profitability in the long-term. Accordingly, companies are faced with the continuous task of finding new ways to understand and subsequently accommodate market demands, while simultaneously securing lucrative business models and job environments. The Marathon Oil Corporation and its