The acquisition cost of the diverse products is lower, and it makes more reasonable the price for the customer. Regal could make some use of virtual companies that use suppliers on an as needed basis, therefore it would make it easier to respond quickly to changing requirements, and to meet changing market demands.
As Regal Marine spends a large portion of its revenue on purchases, supply-chain management provides the company with the opportunity to work on closer long-term strategic relationship with key suppliers.
Why is supply chain management important to Regal? Ensuring alternative sources would be another important point in the Supply Chain.
Using the latest computer and transmission technologies to schedule and manage the shipment of parts in and finished products out, would help to increase the efficiency of the company.
All the members should encourage support for small, disadvantaged and minority-owned businesses that are not able to manage and progress on their own.
What other techniques might Regal use to improve supply chain management?
They can expect loyalty from Regal, and the suppliers can gain prestige by representing the high-quality products which Regal Marine produces, which can result in profit margins. Supply-chain management enables Regal Marine to compete in a multibillion-dollar industry, and helps it to differentiate its products from competitors e.
The members of the supply chain expect that the expectations of Regal Marine transfer into a chain of suppliers that focuses on maximizing value and quality.
There would be a lower product cost assuring to the diverse clients their desired quality. It would be good that members acquire and maintain professional competence for the success of the global chain.
Regal Marine expects continuous innovation and high quality performance to ensure that the final goods and services reach customer satisfaction. It would help small companies to specialize in the products they make and, therefore in the global chain obtaining a better success than on their own.
Why is supply chain management important to Regal Marine? Thus, its effective and efficient supply-chain management enables Regal Marine to differentiate its products through quality, innovation, unique features, up-to-date technology and responsiveness.
Using the Supply Chain Regal can reduce costs and improve the products they offer to their clients whilst maintaining core competence. Therefore, as a result, Regal Marine has been able to reduce costs while improving quality, responsiveness and innovation.
There are a lot of opportunities for unethical behavior in a Supply Chain so in every Supply Chain there is a code for acceptable behavior. Some types of conduct should be avoided as accepting or soliciting money, loans, and credits from potential suppliers that might influence the supply management decisions.
Supply chain management is about integration of activities that procure materials and services and transform them into the final product of the company.
Supply-chain management allows Regal Marine to increase its competitiveness via product customization, high quality, cost reduction and speed to market. Every component of the supply chain should work their best in order to fulfill the needs and products that are expected from him.strategy and supplly chain management of the company.
Supply chain management for Regal Marine starts with buying row materials and ends distributing final products to their customers. The most important partners for Regal Marines are suppliers of row materials. Being a part of Regal Marine supply chain they get a great number of benefits.
Oct 03, · Regal Sport Cruiser Boat for Sale by Marine Connection Boat Sales - Duration: Marine Connection 35, views. 7.
Supply Chain Management: Regal introduces high quality luxury boats through close ties with suppliers. At regal marine suppliers are relied upon not only for quality components delivered on time but for up to date technology and innovation.
Regal expects members of its supply chain to be full partners.
SUPPLY CHAIN MANAGEMENT AT REGAL MARINE Global firms like Regal Marine know that the basis for an organization's existence is the good or service it provides society.
Great products are the keys to success. Supply-chain management allows Regal Marine to increase its competitiveness via product customization, high quality, cost reduction and speed to market.
Therefore, as a result, Regal Marine has been able to reduce costs while improving quality, responsiveness and innovation. Essay on Supply Chain Management Words | 3 Pages “Supply chain management is the flow of goods, services, and information from the initial sources of materials and services to the delivery of products and activities occur in the same organization or in other organizations”(Horngren).Download