4 pages/≈1100 words
Business & Marketing
Strategic Management: Supply Chain Analysis (Essay Sample)
Supply Chain Analysis of Target Corporation source..
Target's Supply Chain Unit 2 Assignment Student Name GB570 Managing the Value Chain Professor Name Kaplan University Month Day, Year Target's Supply Chain Supply chain management refers to the Organizational process by whichthe firm can "improve the way the company finds the raw components it needs to make a product or service and deliver it to customers," (-chain.org 2014). The process involves the employment of several basic components, which include planning, sourcing, making (manufacturing), delivering and returning of products. Supply Chain management is generally characterized by managing inflows of goods or materials, operations and distribution functions in an organized way that is aligned and responsive to the demand of consumers. The level of inventory held by a firm is one aspect of great significance though. As a result, organizations ought to develop and implement sets of systems to monitor the overall process of supply chain management in a cost-effective but value delivering manner (Walters, & Rainbird, 2007). This paper focuses on evaluating Target Corporation's Supply Chain Management with an aim of identifying how it meets the company's Demand Chain expectations. Overview of Target's Supply Chain Target Corporation is a major U.S company with over 2,000 stores spread all over the country and Canada as well. George Dayton in Roseville, Minnesota founded it back in 1962. The company is keen on its management strategies giving much emphasis on its customers maintaining great pricing mechanisms and brand originality. In fact, Target's policies refer to its customers as â€˜Guests' and maintains a personalized approach in dealing with them. Also, it goes without saying that the company holds high regards for aspect of design with its â€˜Design for all' strategy displaying products people "love to live with and low prices you can't live without." (-chain.org 2014) Product and Service Specification Target Corporation boasts of one of the most outstanding Supply Chain Management systems in the United States currently. It can be well recognized using â€˜the leader' status- only second to Wal-Mart, for its system that aims to meet customers' demands on a reducing costs perspective. With its "expect more, pay less" approach, the company attracts a great deal of potential customers. It also keeps a direct communication strategy focusing on gaining customer preferences for its reliable placement of products. The company maintains on its website "The smooth operation of our supply chain network is linked to our profitabilityâ€”and the outstanding value we promise our guests." The company utilizes its strengths of market control and operational practical understanding coupled with advanced technological systems to specify its products in accordance to customer needs (Target 2014). Order Processing and Management Because of careful planning, the company employs several Supply Chain Management techniques to secure its inventories. For the past years its inventories levels have increased considerably by exceptional order processing and management for purposes of ensuring timely and quality deliveries to its stores (Murphy, 2010).. Target employs the use of all-inclusive management systems that are characterized by strict and timely requirements for suppliers (Misra, & Choudhary 2010). It also covers aspects of competitively priced purchases and accelerating cycles' time and improving out standings. Value Delivery Options The aspect of â€˜Returning' involves the function of quality assurance by the organization to the customers. The company holds a team of Quality Assurance managers and engineers to execute quality assurance on all hard goods retailed by the company; including general consumer goods, electronics, appliances, Misra, H., & Choudhary, K. (2010).s, cosmetics, sporting goods, school and office s...
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