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Hi, need to submit a 1000 words essay on the topic Critical Examination of the applicability of module topics to two globally trading companies.n the company’s strategic plans it was evident that th
Hi, need to submit a 1000 words essay on the topic Critical Examination of the applicability of module topics to two globally trading companies.
n the company’s strategic plans it was evident that there are numerous retail chains in the market thus it had to come up with a strategy that would ensure it stands out of the rest and, in the long run, maintain a competitive advantage over its rivals (“Strategies for Reaching”, 2010).
Despite offering its goods at low prices, the quality of goods sold to clients is not compromised, even though. profit maximization remains the principal objective of the organization. It is literally difficult for an organization to achieve all these three parameters at a go, but Wal-Mart has managed to conquer them all through strategic planning and implementation. The company conducted its analysis of the industry and came to the conclusion that the value of retail goods increased exponentially from the time of manufacturing for the time they get to their stores. Thus, they came up with a rapid transportation system that supplied its stores with goods from the suppliers in time, and only the required products were reimbursed in the stores (“Wal-Mart: Key”, 2014).
The company developed an integrated inventory system that was coordinated with their primary suppliers for instance Proctor and Gamble whereby goods would be replenished in the stores immediately their volumes run below the recommended levels. In that sense there would be no time a good would be missing in Wal-Mart stores since the system would update the suppliers of the goods that were on demand and the rapid transport system of Wal-Mart would dispatch them to the respective stores within twenty-four hours. The fact that Wal-Mart deals directly with its suppliers ensure that the cost of essential goods is significantly discounted and those price cuts are transferred to customers in terms of low prices (Govindarajan, and Gupta, 2002).
The company is notable with its low prices a feature that has seen it accrue billions of dollars yearly in terms of revenues and made other market players to shut business
