100 second reflection for Week 2
Think for 100 seconds, and summarize the key things that you learned in the class in week 2 – Crocs case and Lecture about How the Internet Affects the Supply Chain?
MIS 3537 – Spring 2017
Think for 100 seconds, and summarize the key things that you learned in the class in week 2 – Crocs case and Lecture about How the Internet Affects the Supply Chain?
What I learned in today’s class that I found very intriguing was the fact that company’s, such as Crocs, can change their supply chain multiple times to make it more efficient, but when they introduce a new product, a whole new supply chain is in order. When using the hypothetical of the crocs case on how they should exploit their core competencies, the growth by expansion example made me understand fully how complex supply chains can be, because by even adding one new raw material to a product or company, a whole new way of managing the supply chain is in order, and this shows why having good supply chain managers to make the most efficient supply chain possible to cut costs and increase potential revenue.
I think this lecture was a great way to follow up week 1’s lecture. We got to see a real life example of a supply chain at work and how important it is for the company’s success. I would’ve thought a company like Crocs would have a relatively basic supply chain, instead they had a complex and well thought out supply chain that helped make the company profitable. I though the flexibility of the supply chain and owning the intellectual property of Croslite were too of the most important core competencies that Crocs had.
In week two we looked at Crocs supply chain and how they have become very efficient at managing it. It is interesting to learn that they only use one material to make their products which makes them better at managing the supply chain efficiently but limits them to the products they can make if they chose to make new products.
In week 2 class, I learned that how a vertical integrated SC can create a cost effective and efficient operation. And it is very important to have a flexible SC so a company can react to demand changes, fulfill order in season, and reduce the risk of stock out. I also learned that IT drives changes in SC such as accessibility of real-time data and more accurate analyzed data which leads to better forecasting on demand.
I came to better understand the significant impact that a supply chain has on its business. Research and development as well as marketing seemed to be some of the most important requirements of a business to do well. Crocs is an example of how changing a supply chain to fit the needs of a business is a powerful element of a business that can add value.
In week two, I learned that the supply chain process is much more complex than first anticipated. Depending on your business or the industry, the responsibilities of the supply chain can greatly differ. In order to have a successful supply chain, you need to be flexible and adjust when conditions change.
Having an efficient supply chain can increase profit and business value. Lastly, supply chains need to continue to be innovate in order to keep their competitive advantages.
In week 2, we looked at our first real-life SC example, Crocs, and how they effectively utilized their core competencies by vertically integration as well as having a global SC. This helped them to compete within the industry and grew out of the stereotypes (shoes companies cannot respond to demand changes rather quickly). Then, we learned how internet affects the SC today. With the help of IT, companies now have access to real-time data and able to analyze data quicker. E-market are also on the rise as consumers could choose from a broader range of products and compare prices. Traditional retailers must set their strategies with the concept of e-commence in mind since this will be the future trend of business.
This week we discussed the dynamics of the supply chain at Crocs, and how unique properties in their company presented challenges and opportunities. They were able to respond to surges and drops in demand much quicker than other shoe companies partly do to an extremely flexible supply chain, and a unique product. We also talked about the effects IT has had on the supply chain. Real-time visibility is one of the most important IT influence in creating efficiency and accuracy of data.
In week 2 I learned much more about how supply chains work, especially in regards to the company Crocs. I have not studied much on supply chains until I took this class, and I found it intriguing to learn just how much of an impact they have on a company’s success. I was also unaware how much of an impact the internet has on a supply chain being successful, but it does make sense that for a supply chain to be effective that the internet must be involved, as it plays a role in most things these days.
This week’s class we started off with an interesting presentation from our classmates about the Crocs case. Then we discussed the questions that we had to answer pertaining to Crocs supply chain system. I learned how Crocs’ flexible supply chain mixed with their vertical integration helped them with their unique distribution system. One of the other topics we talked about was how a high margin company should handle inventory versus how a low margin company. We finished up class talking how I/T drives change and innovation in the world.
During class 2, I learned that supply chain differentiation can make all the difference when it comes to facing competitors. In the case of Croc’s, their unusual material, croslite, provided unique qualities to not only the end product but the manufacturing process as well. Additionally, the flexibility in their supply chain allowed them to meet unexpected demands. Croc’s competition did not see the same benefits due to their use of traditional footwear supply chain strategies. Croc’s executive team was able to bring innovation to this industry because they were unfamiliar with it, and decided to approach it similar to how they approached products in their origin industry, consumer electronics. It just goes to show that sometimes old methods need to be examined by a fresh set of eyes.
While week 1 was focused on the basics of supply chain management, week 2 helped really put it into perspective for me by analyzing all of the different dynamics of the Crocs case. We began by analyzing Croc’s core competencies, making note of what really made the company stand out in the market to allow their success. Along with this, Croc’s was eventually able to vertically integrate their supply chain by offering other products outside of footwear. It shows that companies need to constantly be able to adapt to the needs of the market in order to keep a competitive advantage. We also learned about e-markets and what makes them so necessary in today’s day and age. Retailers that were once only brick and mortar need to change and meet the demand of the consumers for e-markets. Otherwise, it could prove catastrophic for the business.
In class this week, we spoke about Crocs’ core competencies and why they need a great supply chain, instead of running with the greatest product. This question confused me at first, but after thinking about it, it makes sense that they don’t so they can quickly adapt to growth address their inefficiencies in a more stable manner. Internet affects the supply chain in the regard to how quickly media and people adapt to the newest technology. For example, we spoke about the electronics industry and how they would have a different supply chain than shoes; some of the reasons were the slower market dynamics and shorter product lives (for electronics). From this, one can draw a conclusion to the idea that the internet impacts supply chains by forcing companies to have control over their supply chain and ability to effectively maintain their margins in light of changing market dynamics.
In week 2 we discussed the supply chain of Crocs. I found it really interesting that they have their own material, Croslite. Having their own material changes the supply chain. We also learned how a flexible supply chain has helped them. They are able to have more control over their individual steps. Additionally, having a flexible supply chain allows them to have control over the demand. If they underestimate how much product they need, they can always order more because they have molds of their shoes in their plants. We also talked about how recently Croc’s has been struggling to find a market for their shoes, so they are using things like celebrity endorsements to build up their reputation.
After presenting the Crocs case and going over the case in depth with the class, I learned about how there is no right way to maneuver a supply chain. After revolutionizing the show supply chain, Crocs still had to adapt to the changing environment in the industry. By changing warehouse locations, looking into new global markets, or integrating new technology (SAP), Crocs could never just follow one “right” diagram of supply chain, instead changing the supply chain to fit business needs.
This week we got to see how supply chains really work with the Crocs case. It was amazing to know how the company’s competitive advantage was tied to their supply chain flexibility. We went over Crocs core competencies as well as the reasons why they have a competitive advantage over other shoe manufacturers. We also went over how the internet and IT drive supply chain and how companies that were not able to catch up with the technology fast enough are not out of business.
We presented the Crocs case, and it was the very interesting case. The Crocs case gave me a new perspective about the supply chain in terms of how it is different from various industries. Also, I learned that for the products that are seasonal, it is extremely important to have very efficient supply chain because it can be a valuable competitive advantage for the firm.
In week 2 we learned about the Crocs case and supply chain. It was interesting to learn about how complex their supply chain is even though they only use one material for their products. This shows how having the right supply chain for your company can help give you a competitive advantage in your industry. Sometimes a more complex/flexible supply chain can bring you that competitive advantage.
In week 2, we discussed, in detail, the supply chain model of Crocs. In our discussion, we conversed about the advantages and disadvantages of having a vertically integrated supply chain. The advantages are lower transaction costs, quality assurance, and increased barriers for competitors. The disadvantages are difficulty balancing operations and inability to grow product lines. In the second portion of the class, we learned how the Internet has helped evolve supply chain. With the help of technology, we are able to use data analytics to, ultimately, boost the business’s efficiency and performance.
In week 2 we discussed Crocs core competencies and how it should exploit those competencies in the future. Crocs dynamic and flexible supply chain allow them to gain a competitive advantage in the market place. Crocs success can be attributed to its ability to respond quickly to changes in demand (by building capacity into the manufacturing process) and its short lead times. It was concluded that Crocs can exploit vertical acquisitions and product expansion in the future. It the second half of class we discussed how IT and innovations in technology can drive the supply chain process.
In week two, we learned supply chain’s complexity from Crocs case. It is really good to know how Crocs’s supply chain system and its flexibility helped them to gain the competitive advantage among its competitors. Crocs is able to success mainly due to its core competencies. And in the end, it is able to make vertical integration. It is also important to know how technology drives the supply chain. Many businesses who are not able to catch up with technology failed eventually.
Week two we learned how Croc’s managed their supply chain and how they revamped it after they started seeing a decline in revenue and market share. I found it interesting how when they first entered the market they did it by year round basis as opposed to other shoe companies that do seasonal sales based off of shoe fairs. For the lesson we learned about how internet effects supply chain and how companies are using the internet to make advancements in their logistics and analytics which ultimately has a positive impact on performance and efficiency. The internet has enabled Supply Chain to become an essential part in business today.
The Crocs case was a useful learning example when considering the information systems in supply chains with high degrees of vertical integration. Crocs used its own specialized information systems so that it could readily adjust to changing real-world demands in the shoe market. Coupled with the fact that it owned nearly its entire supply chain, Crocs positioned itself to be a market leader in the on-demand production of shoes. This wouldn’t be possible without an integrated software system that enables an operation of this nature.
In our 2nd week, we discussed in depth the supply chain of a shoe company, Crocs, that has a suppy chain unlike any other company in the industry. Learning about this company that thrives on its success with vertically integrated extensions of its company gave us great perspective into a company that doesn’t fit the industry mold. This case gave me tons of insight into what managing different parts of a supply chain can entail and how internet plays a major role, from managing capacity to expanding products to establishing and incorporating a global infrastructure. We also learned about how IT and the internet has affected marketplaces online, and how much power buyers and sellers have in these markets. I find it interesting and exciting how much technology has and continues to shift the everyday functions of businesses’ endeavors, and how a business’s supply chain management strategy is a crucial aspect of seamlessly integrating into new technological trends of the business world.
This week we discussed the Crocs case. Crocs supply chain is flexible. They full-fill orders in season, produce additional products during the season (which helps to capture revenue), and their supply chain drives their growth. Crocs also used that flexibility to change their supply chain often which supported their growth, addressed inefficiencies and challenged them to change.
In week two, we discussed the Crocs case as well covered the main topic about how does the Internet (Information Technology) impact on supply chain. From Crocs case, I got to know this is a high margin company with low cost and appropriate price. The wise supply chain strategy made Crocs’s business. From the second part of our lecture, I realized how important role played by Internet (Information Technologies) in current business world, and how many benefits the new techniques bringing to business world and public’s life.