In: Economics
A grocery store chain like Tesco Malaysia need to be responsive and be able provide customers what they need, when they need it, where they need it.
Determine FOUR (4) responsive approaches that can be taken by a convenience store supply chain to be responsive?
Based on above answers, describe TWO (2) risks in above approaches?
Following are the responsive approaches that can be taken by a convenience store supply chain to be responsive -
1. Being demand responsive and providing the product or reaching out to target market.
2. Establishing a flexible strategy or improved ways to coordinate between different stages of demand availability. ( management)
3.efficient or cost effective use of technology.
4.growing or expanding its reach (location factor)
Risk involved -
1. By expanding or reaching out to large target require more labour work and efforts and can be certain times not cost effective
2. Due to more labour work, there can be a risk of under performance or poor management or poor coordination at different stages.