chapter 3 : Strategic Initiatives for Implementing Competitive Advantages

Well hello again :)
 So today's blog is about introducing high-profile strategic initiatives that an organization can undertake to help it gain competitive advantages and business efficiencies.

First and foremost is....

SUPPLY CHAIN MANAGEMENT(SCM).

- Beforehand, i should probably explain what is a supply chain...A supply chain is every activity and party involved in the process of fulfilling the order of a customer from the raw materials to the delivery of goods to customers.
- Supply chain management or better known as SCM is the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and
 profitability.
-These are the 4 basic components of SCM :

  

- The most important facts is that, the effectiveness and efficiency of SCM can enable an organization  to:

1. DECREASE buyers power.

2. INCREASE suppliers power.

3. INCREASE switching powers.

4. INCREASE  barriers to entry.

 

Next we have the......

CUSTOMERS RELATIONSHIP MANAGEMENT(CRM)

 - Well in a nutshell, Customers Relationship Management involves managing every aspects of a customer's relationship. It allows the organization to identify customers, design specific marketing campaign, understand their behavior individually. Thus generates loyalty within their customers.

- With CRM customers can contact the organization through various type of technology such as cell centers, web access, email and many others. 

CRM allows us to :  communicate effectively and understand customer product and services.

 Then we have....

BUSINESS PROCESS REENGINEERING(BPR)

 

Briefly business process reengineering is about analyzing and redesign the workflow within or between companies. This is so to ensure that all business process the

" BEST-IN-CLASS "   

You see the problem is that most companies follow the same indirect path without realizing there are different, faster and more direct way of doing business.

 However there is a downfall to this method ....the company becomes to wrapped up in fighting its own demons that it fails to keep up with its competitors.

Lastly...

ENTERPRISE RESOURCE PLANNING(ERP)  

Enterprise resource planning (ERP) is business management software that allows an organization to use a system of integrated applications to manage the business. 

ERP software integrates all facets of an operation, including product planning, development, manufacturing processes, sales and marketing.

-the end-