Supply Chain Mgmt for Best Buy Essay Example | Topics and Well Written Essays - 500 words

Supply Chain Mgmt for Best Buy - Essay Example This may be achieved by addressing the customer issues relating to the size, specification and time of demand so that they meet their desires with convenience. This is possible by introducing online customer care services where customers can make enquiries from their homes and get appropriate feedback. This approach will help the company in tracking the behaviour trend of the clients in terms of needs. In-depth and long term relationship with the suppliers: Due to the prevailing global economic uncertainties, it would be safe for Best buy to adopt positive working relationship with the suppliers to track their ability in terms of reliable inventory stocking and ensuring that they have efficient modes of replenishing its stock. Deeper understanding of the supplier will help the firm to formulate and establish supply chain management system that suites the suppliers policies and system and this goes down to cut costs, improve efficiency and encourage innovation. Best buys should adopt a partnership policy that proposes use of same technology for easy co-ordination of supply activities in response to the market demand to avoid customer disappointment which will translate to financial and social cost to the firm. Internal control measures: Best buys need to consider developing sound internal control system that would give guideline on how to achieve its set goals. It is important that tit observe the minimal use of pricing as a competitive strategy but rather adopt other approaches that would give it optimal costing and revenues. To achieve this, they need to develop a system that will help all the management teams to retrieve any information and liaise with both suppliers and distributors. This would help in maintaining continuous flow of inventory thereby eliminating supply cut-off to the advantage of its online competitors like Amazon and EBay. Emphasis on IT technology