Business and Marketing Paper (Essay Sample)
Read the following articles:
Chan, Felix T. S., Chan, H. K., Lau, Henry C. W., & Ip, Ralph W. L. (2006), An AHP approach in benchmarking logistics performance of the postal industry, Benchmarking, Bradford 2006, Vol. 13, Iss. 6, pg 636.
Anonymous, (2008 Dec) Time to take stock of the supply chain, Logistics Manager, London: p. 34.
Many practices can continue almost as a habit without anyone actually sitting down and thrashing out the rationale for each process or operation. DHL understands that its success and that of its clients are intrinsically linked to efficiency and effectiveness of operational processes. Sharing the value delivered through these improvements between the partners is a key enabler in driving out cost. “Within the retail and consumer group at DHL Exel Supply Chain, we've already held almost 100 Process Improvement/DMAIC workshops this year, which have contributed to continuous improvements and identified effectiveness equating to pound 4m.”
Another tactic for cutting supply chain costs is to look at the whole value chain—physical flows, information, financial flows, systems, business structure/silos, culture, etc. “We offer our customers these as ‘Value Chain Assessments’ (VCA), where a customer may have a broad question—where is the risk in my supply chain? Where are my major costs and how can I impact them? Answering these questions is often easier said than done as many in-company logistics or supply chain managers lack visibility beyond their own supply chain operations. We can fill in the gaps in the picture—especially with today’s highly complex and extended retail supply chains. With a wide range of clients, 3PLs can provide benchmarking and information on best practice drawn from a range of industries, as well as practical deliverable solutions. Our VCA methodology challenges our customers to embrace change—but it also challenges our own teams to do likewise. Success is not in the delivery of VCA report—it's in being a catalyst to deliver benefits to our customers.”
In an essay of 3–4 pages, answer the following questions:
1.Explain why a two-stage benchmarking methodology that utilizes performance evaluation metrics followed by continuous improvement metrics could be a useful tool for achieving a competitive advantage.
2.Discuss why the inclusion of the second phase, related to continuous improvement, represents a step forward from traditional benchmarking approaches.
3.Evaluate the general adequacy of the major performance criteria used in the AHP article for assessing logistics applied to other types of organizations. Feel free to suggest additions or modifications in the performance criteria if you believe there are inadequacies in the current criteria.
4.Describe the role a 3PL could play in implementing an effective benchmarking approach.
Display an in-depth understanding of the role of benchmarking, the metrics that can be used in benchmarking to assess best practices, and how the benchmarking process is integrated into the strategic management effort. Display a critical assessment of the benefits and limitations of the two phases of a double Analytic Hierarchical Process approach to benchmarking. Use critical thinking, clarity of logic, and synthesis of the current course materials with previous courses in assessing the relationship of the AHP approach to a continuous process improvement initiative.
Business and Marketing
The emergence of modern business practices has called for more efficiency and effectiveness. It is essential for organizations to use assets at their disposal prudently. However, this no easy fete as limitations on operational aspects such as asset allocation, human capital, and geographical challenges, makes it difficult to sustain success in the long-term. Despite these challenges, international business practices have made it possible for well-run organizations achieve higher levels of success. The changing landscape of global business practices has made it essential for organizations operations to change. Technology has mad transport and communication a lot easier. However, despite these technological advancements, logistical costs keep rising. It is essential for organizations to put in place structures that will ensure efficiency. One of the most common tools at the disposal of organizations is benchmarking. In the corporate world, ignorance is not bliss (Chan, 2006). Therefore, it is important for organizations to benchmark using the best industry practices and adopted best practices to ensure success.
Benchmarking is a tried and tested method of improving operational performance in an organization. However, various methods can be employed to ensure the success of any benchmarking program. One of the most common types of benchmarking is the two-step benchmarking methodology. In this method, the first step would be to map out the organizational structure of an organization. By understanding the ...
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