Supply chain Essay Example

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Supply Chain 4


Supply Chain

Question One

Competition is a major factor that affects business success. The different methods applied by competing companies at different levels of business determine how they will perform in the face of competitors (Brynjolfsson, Hu Yu Jeffrey and Rahman 2013). Among the competing strategies that have been implemented in most countries is the effect of technology in business. Consumers who are exposed to the developments in modern technology have ensured that they remain aware of the changes in the businesses sector that will warrant a smooth transaction. For instance, an issue such as mobile banking has taken a different approach to how people purchase and pay for products in the market. Arguably, mobile banking ahs reduced the transaction procedures in business that would have rather cost the consumer and the business more than what they desired to spend. Similarly, mobile banking has covered up the time conscious factor that consumers took into account while transacting.

Internet retailing has become a widely incorporated method of acquiring products buy different supply chains and consumers (Brynjolfsson, Hu Yu Jeffrey and Rahman 2013). With the incorporation of modern technology, companies in different supply chains are able to reach out to potential buyers that relieves them the hustle of physical availability. Retailers in the supply chain system can use mobile applications and internet services such as Skype, social media and emails to reach out to consumers. This practical approach towards technology in business is timely, fast and efficient. Similarly, it may connect businesses to international markets therefore expanding business. As much as the benefits of technology in business have changed how most companies approach consumers, they need to develop a strategic system that will ensure the theoretical approach can be altered into a practical model.

Question Two

The article Competing in the Age of Omnichannel Retailing By Brynjolfsson, Hu Yu Jeffrey and Rahman determines how most companies are transforming the theoretical approach in technology into a practical system that will ensure companies counter the effects of the competition (2013). The article sheds light on the successful strategies that ay be incorporated into the business to accrue more profit from venturing into technology. Through the article, managers and business owners understand that to create a successful omnichannel retail, they will need to consider elements such as price and content in their internet sites, the power of data transfer and analytics, selling niche products at a timely and effective manner , emphasize on the importance of knowing the product and embracing the impact of competitors.

As much as the article focuses on the positive impact f incorporating technology, the contrary cannot be ignored. It identifies the disadvantages that are imminent for any businesses such as suppliers and manufacturers. Consumer perception is changing with the changes in technology and it will take more to satisfy their needs. Omnichannel retailing needs to be embraced as it is at the centre of technology and innovations. Evidently, failing to consider changes in the business structure will render companies unable to match up to the omnichannel competitive market therefore loosing in business.

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Brynjolfsson, E, Hu Yu Jeffrey, Rahman, M, S 2013. Competing in the age of omnichannel retailing, MIT Sloan Management Review, 54, 4.Bottom of FormBottom of Form

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