Chapter 3: Strategic Initiatives for Implemeting Competitive Advantages,

For today lecture I had learn about strategic initiatives for implementing competitive advantages which is in chapter three.

This chapter introduces my classmates and me about high profile strategic initiatives that an organization can undertake to help it gain competitive advantages and business efficiencies.

What is supply chain management (scm) what I have been learn SCM involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability.

The four basic components of supply chain management are:-

1.        Supply chain strategy- The strategy for managing all the resources required to meet customer demand for all product and services.

2.        Supply chain partners- The partners chosen to deliver finished products, raw partners relationships monitoring metrics.

3.        Supply chain operation- The schedule for production activities including testing, packaging, and preparation for delivery. Measurements for this component include productivity and quality.

4.        Supply chain logistics- The products delivery processes and elements including orders, warehouses, carriers, defectives product returns, and invoicing.

 

                                                                                                                                                      

Effective and efficient supply chain management systems can enable an organization to:

·         -Decrease the power of its buyer

·         -Increase its own supplier power

·         -Increase switching costs to reduce the threat of substitute products or           services.

Customer relationship management (CRM) involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and organizations profitability.

What is Business process?

Business process is a standardized set of activities that accomplish a specific task, such as processing customers’ orders.

What is Business process reengineering (BPR)

BPR is the analysis and redesign of workflow within and between enterprise.

What is enterprise Resources Planning (ERP)

ERP here means integrates all departments and function throughout an organization into a single IT system. So that employees can make decisions by viewing enterprisewide information on all business operations.

THE END =,+