How did Walmart achieve strategic fit?

How did Walmart achieve strategic fit?

Walmart’s supply chain management strategy has provided the company with several sustainable competitive advantages, including lower product costs, reduced inventory carrying costs, improved in-store variety and selection, and highly competitive pricing for the consumer.

What does a company need to do to achieve strategic fit between the supply chain and competitive strategies?

To achieve strategic fit, a company must first understand the needs of the customers being served, understand the uncertainty of the supply chain, and identify the implied uncertainty. The second step is to understand the supply chain’s capabilities in terms of efficiency and responsiveness.

What challenges does it face as it works to open smaller format stores?

Smaller format stores offer less space for storing and displaying merchandise, which could result in lower product availability and could lower Walmart’s profits due to inability to meet customer demands.

What are the key customer needs that Nordstrom aims to fill?

Nordstrom fills customer needs for high quality fashion merchandise and outstanding levels of customer service.

What is implied demand uncertainty in supply chain?

Pg.23] Demand uncertainty reflects the uncertainty of customer demand for a product. Implied demand uncertainty, in contrast, is the resulting uncertainty for only the portion of the demand that the supply chain plans to satisfy based on the attributes the customer desires.

What is the impact of customer need on implied demand uncertainty?

– Targeted service level: High service level leads to high implied demand uncertainty even though demand for product does not change. Customer Need Causes implied demand uncertainty to increase because … How does the firm best meet demand?

What is meant by implied demand uncertainty?

Answer: Implied demand uncertainty is demand uncertainty imposed on the supply chain because of the customer needs it seeks to satisfy. When the product’s demand exceeds its supply.

What is the primary goal of an efficient supply chain?

Goal 1: Achieve Efficient Fulfillment Supply chain partners must work together to maximize resource productivity, develop standardized processes, eliminate duplicate efforts, and minimize inventory levels. Such steps will help the organization reduce waste, drive out costs, and achieve efficiencies in the supply chain.

What are the 6 Supply Chain Strategies?

6 Simple Supply Chain Strategies That Will Cut Costs

• Institute automated inventory control.
• Decide on a supply chain model that fits your business.
• Integrate emerging technologies like mobile-based cloud computing.
• Focus on core strengths and learn what can be outsourced.
• Better utilizing your assets.

Why Resilience is important in supply chain?

The first benefit of a resilient supply chain is availability. With quality operating systems, you can access real time inventory data and adapt to global constraints. This gives you and your suppliers peace of mind during unexpected weather-related events and catastrophes.

What is your understanding of a resilient supply chain?

If you have a resilient supply chain, you can manage to respond and recover quickly to these disruptions by returning to the original situation or by moving to a new, more desirable state in order to increase customer service, market share and financial performance.

Can we make our global supply chains more resilient?

Put the network redesign in place and monitor performance. Thriving and winning in the post-COVID-19 global economy (and beyond) will require supply chains that are “resilient to disruption and flexible enough to capture new sources of competitive advantage.”

What are three 3 most important ways to build resilience into global supply chains?

Here are three strategies for building resilience into your supply chain:

• Diversify sources.
• Build reserves to absorb shocks.
• Predict, sense and respond with agility.
• Mapping out structural risk across your supply portfolio.

How technology builds more resilient supply chains?

Supply chain resilience can be strengthened by increasing inventory levels of raw material, work-in-progress, and the final product; adding manufacturing and/or storage capacity to improve manufacturing surge capability; and increasing the number and ensuring the surge capability of suppliers of key materials or work- …

What steps should an organization implement to better mitigate supply chain risk?

• Undertake a business impact analysis. For your business to be able to withstand any potential supply chain disruptions, it has to be prepared.
• Assess and monitor new and existing suppliers.
• Reduce concentration of supply.
• Work with your suppliers.
• Proactively address supply chain cyber threats.

How do you manage supply chain effectively?

5 Tips for Efficient Supply Chain Management

1. Find Dependable Suppliers. One cannot emphasize enough the importance of finding the right suppliers.
2. Invest in Employee Development.
3. Continuous Improvement.
4. Leverage New Technologies.
5. Improve Returns Management.