Chase strategy in companies: challenges and applications
This paper is about Chase Strategy, which typically relates to the cycle of demand and production. Service organizations, automobile industry, and fast food industry are few of the significant arenas that usually use the chase strategy, as their focus is primarily on meeting the demand patterns, which is unstable and varies from time to time. This is beneficial to numerous organizations since it minimizes the cost of inventory. However, this unstable demand pattern also creates challenges like low employee morale, high employment and training cost.This paper is about Chase Strategy, which typically relates to the cycle of demand and production. Service organizations, automobile industry, and fast food industry are few of the significant arenas that usually use the chase strategy, as their focus is primarily on meeting the demand patterns, which is unstable and varies from time to time. This is beneficial to numerous organizations since it minimizes the cost of inventory. However, this unstable demand pattern also creates challenges like low employee morale, high employment and training cost.