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100 second reflection for week 2
Think for 100 seconds, and summarize the key things that you learned in the class week 2 – Intro lecture and Crocs case
This week, I have learned that supply chains are very complex in that you need a good supply chain in order to do business. If the supply chain is efficient, there is a competitive advantage, From the Croc’s case, their supply chain which is also their core competency gave an edge where they can replenish their supplies in the same season and introduce new products. Croc’s supply chain show that they are flexible and has a unique product.
I learned the importance of supply chains and that they operate very different depending on the market. We touched on the basics of how supply chains are changing because of the use of the internet. From the crocs case I learned how the Crocs company has used supply chains differently in order to be able to react to changes in market trends and also be able to provide to small business orders in an efficient way.
This week it was really interesting to learn about the supply chain evolution that crocs went through. Its an interesting subject to study – as the business model/demand changes the supply chain must also evolve. Its always a good way to end a lecture topic with a case or real world example that ties in class discussion with reality.
This week, I thought that it was very interesting to look at how profitable a great supply chain can make a company. We see this in the Crocs case from this week, in which they take a product with a smaller designated target market and because of their supply chain allowing them to offer smaller shipments and shipments on demand to smaller stores allowed them to grab a larger target market and make their company what it has become today.
It was really interesting to learn about the evolution of Croc’s supply chain evolution. From the case study it seemed that once Croc’s had their popular product, they concentrated on the supply chain to maximize profit. By purchasing the formula for their shoes and applying a supply chain management operation common in electronics, Croc’s added a great deal of value. This week taught me how important every single part of a business can be, and not just concentrating on new products, marketing, and financing.
This week I got a better idea of how important supply chains are to a company. Even with companies in the same industry, they can have supply chains that vary due to the way each operates its specific business. The crocs case was interesting, it helped show how the company varies its supply chain to meet its specific needs.
This week I learned that it is not as easy as one may think to just go into an industry and create a supply chain. Since non of the members of the founding Crocs team were familiar with the shoe industry none of them knew the ‘norms’ of the industry’s supply chain model. This, however, worked out to their benefit since they were able to restock stores and not have to worry about stock-outs or have too much inventory in a store.
This week I learned how important supply chain is for a company. I got a better idea of how it works for companies with inventory on hand versus a company that only provides products when requested by a customer. I learned that it is not always a bad thing to have low inventory because it can generate high inventory turnover, and high inventory could result in low inventory turnover which means the company will have to put those items on sale to try to get rid of them.
This week I learned a lot more about the importance of supply chains and how they can differ from one business to another. I thought the Crocs case was pretty interesting considering how ridiculous I think the shoes are. I thought it was impressive how they were able to keep so much inventory on hand at a time because of how high their profit margins were. This is a rare occasion for most companies.
This week i learned the importance of having a good supply chain system. Taking the Croc case as an example, Croc is able to be so successful because of their supply chain. They own their own manufacturing factories and warehouse which gives them more freedom and control over their product with less bottleneck in the system. Have a good supply chain can great increase your profit margins and make your business more effiecent.
This week it was really interesting to learn how a good supply chain can really benefit a company. Through the Crocs case, once they had their successful product, they built a supply chain around it. This made the company grow because they tailored the crocs supply chain to the product itself rather than creating a supply chain and inserting the product into it. As far as the supply chain goes, they own their own factories and warehouses which increases their profits and allows them flexibility in their business because they do not have to deal with companies who own their warehouses and factories
This week we learned about the various shifts in supply chain management. Shifts in supply chain management include: cross functional integration to cross enterprise, physical efficiency to market mediation, supply focus to demand focus, collaboration, cost reduction to break through business models, mass market supply to tailored offerings. The internet facilitates all these shifts in supply chain management to make it more efficient and less costly. Crocs went through various stages of evolution until it controlled most of its supply chain, so it could meet the demand of the consumers more efficiently than any other footwear competitor. Good supply chain management is essential to keep businesses running efficiently and create an advantage over competitors.
During the second week, we discussed how supply chains are evolving due to information technology, products having shorter life cycles, customers demanding customized products, globalization and the need for collaboration between companies. I learned how Crocs became a successful company; they had a unique product and a patent for the Croslite material, they expanded their manufacturing and distribution channels to foreign countries, and their innovative supply chain enabled them to produce shoes immediately, catering to the current supply and demand of customers.
In the second week, we learned just how important a good supply chain is to a successful company. This is illustrated by the success of Crocs. Crocs was able to become an extremely successful company through their great use of supply chain to reach foreign markets. In addition, we learned about how there are both positives and negatives to carrying a low amount of inventory or a high amount of inventory. Ultimately it comes down to the supply chain effectiveness to determine which inventory system would be best.
In the second week, I learned the importance of a flexible and evolving supply chain to a successful company. The Crocs case is a great example of how the ability to quickly and efficiently increase or decrease production can lead a company to success. Crocs’ ability to increase the production of their new flip-flops allowed them to properly meet the demand, which greatly exceeded their projections. Overall, an effective supply chain can be a make or break point for a company.
I learned that it is very important for a business to have a good supply chain. The more flexible the supply chain is the better it is for the business. The Crocs case showed how a business can use their supply chain as a competitive advantage.
During week 2 we learned the shifts and trends in supply chains. Supply chains are moving from a much more simple diagram (distributor to retailer to customer) to a more virtual layout (distributor to web). Some other ongoing trends in supply chains are virtualization, collaboration, and shared supply chains. The Crocs case was an example of a more innovated supply chain system. It showed how an innovated and efficient supply chain can create a competitive advantage.
During the second week I learned how supply chain can greatly contributed to a company’s success. Crocs is an example of a company that used supply chain to differentiate itself from its competitors. The company became very successful because of its ability to deliver shoes in-season, thus allowing them to sell more goods. By evolving its supply chain to keep up with its growth, Crocs was able to meet its customers’ demands and grow exponentially.
Supply chains play a huge part in a firm’s strategy. As we saw in the Crocs case, a differentiated and advance supply chain can build competitive advantage for a company and ultimately lead to rapid growth. Borrowing ideas from other industries and applying it to an industry where it has never been tried before may be risky. However, the leaders of Crocs were able to apply supply chain methods from electronics industry to the shoe industry, which was the primary reason for Croc’s success.
Crocs case was so interesting. Actually I didn’t know well abt Crocs, but just the appearance. But, it does better than i thought. And its supply chain for globalization was also impressive. Considering tax and raw material cost, etc is very effective for its company.