Supply Chain Article Summary
“What is the Right Supply Chain for Your Product” by Marshall L. Fisher This article discusses the different supply chain methods and points out that the problems with performance of supply chains as well. Some issues occur from bad coordination with supply chain partners, and sometimes there is an excess of products and the inability to predict demand. The article talks about steps for coming up with an effective supply chain strategy, starting with considering the demand for the product(s) that the company supplies.
This involves determining if the product(s) are functional or innovative. The next step is for the company to decide if the supply chain is physically efficient or responsive to the market. They have to determine the supply chain’s priorities. Based on what they determine, they will discover that functional products need an efficient process, and innovative products need a responsive process.
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Based on using this strategy, they should be rewarded with a higher growth in sales and profits. “The Competitive Advantage of Nations” by Michael E. Porter This article discusses a nation’s ability to compete with the world industries. Differences in national values, culture, economic structures, institutions, and histories can all contribute to competitive success. Companies need innovation to be competitive in the world market.
The article suggests that companies that are successful have four determinants of national competitive advantage: Factor conditions; demand conditions; related and supporting industries; and firm strategy, structure and rivalry. When it is determined that there is high demand and increased local competition, that pushes the company to innovate faster, which in turn helps with the global competition. In order to be successful in international competition, the company will need strong leadership to push innovation.