ISCOM424 - Globalization
ISCOM424 - Globalization
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This 0 page Study Guide was uploaded by kimwood Notetaker on Saturday November 7, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 16 views.
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Date Created: 11/07/15
Running head GLOBALIZATION AND COMPETITION STRATEGY Globalization and Competition Strategy Angie Killion ISCOM 424 October 21 2013 Joseph Bright GLOBALIZATION AND COMPETITION STRATEGY 2 Globalization and Competition Strategy There are many aspects to Supply Chain Management There is more than just the product conception procurement of material production manufacturing and transportation There are concepts approaches and outside factors that have a great impact on how the supply chain ows For this training document the focus will be on globalization and how it has changed competition strategy Being new to Riordan it is important to show how Riordan is addressing these changes as well How Globalization Has Changed Competition Strategy Technology is what has pushed globalization to the forefront of business today Globalization has literally opened up the world for business Company who have established themselves within the US and secured maintained relationships with vendors and supplier and even customers now have to compete with companies across the world They are forced to reevaluate these relationships in order to stay competitive within the world market Globalization brings new competition demands greater levels of efficiencies It has changed companies from competing on products and services to competing on the strength of their supply chain Britt 2007 The rules of globalization are important for all managers to know in order to make informed decision regarding the supply chain process Because rules vary across the board due to the size of a company or industry structure there is a set of six imperatives that can be used to get a better understanding of what it takes to be successful in a global setting Fawcett Ellram amp Ogden 2007 First establish a triadic presence There are three major world markets that you operate in the United States The European Union and Asia These are the three wealthiest GLOBALIZATION AND COMPETITION STRATEGY 3 economies in the world Riordan currently operates in two of these markets Riordan executives need to explore the possibility of expanding to the European market in order to be more competitive in the global market Second utilize beachheads Riordan can use the already established China facility to bridge into emerging markets in Asia The same can be done in the United States Third achieve seamless performance across markets Seamless being the operative word it is important that Riordan operates and delivers the same great service in very market they server especially with their multinational customers Performance standard should be set as a company as a whole Forth extend reach through alliances If Riordan decides to expand into the European market they should do so through an ally since they are new to the market This will help them acquire the needed experience in the country Fifth compete in competitor s market This can help gain competitive intelligence and force competitors to focus more their own business instead of trying to move into other markets Sixth coordinate global activities Companies with multiple facilities should not operate independently This cause redundancy and slows the development process down Riordan is guilty of this and it should be addressed immediately The China facility operates a separate unit form the other facilities including the research and development department The China facility contracts all aspects of their operation locally Although this helps speed up the supply chain it does not mean that they are getting the most cost effective services Information should be shared across all facilities to optimize cost for the company GLOBALIZATION AND COMPETITION STRATEGY 4 References Britt D 2007 Sept Impact of Globalization in Creating Sustainable Competitive Advantage Retrieved from httpWWWsdexeccomarticle10289694impactof globalizationin creatingsustainablecompetitiveadvantage Fawcett S E Ellram L M amp Ogden J A 2007 Supply Chain Management From Vision to Implementation Upper Saddle River NJ PearsonPrentice Hall
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