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presentation of the research paper submitted in week 7. Develop a Final Research Presentation based on your research paper from week 7.
presentation of the research paper submitted in week 7.
Develop a Final Research Presentation based on your research paper from week 7. Incorporate additional authoritative resources from the APUS Library as needed.
Length: Minimum of 15 and a maximum of 20 PowerPoint slides.
Style: Professional theme. Use for the citations. Use charts, diagrams, and pictures. Keep your text concise, focused, and succinct
Presentation Rubric
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Abstract
For this assignment I have decided to bring an emphasis on the proper advanced business logistics involved with supply and demand, with a focus on consumer happiness. Expect to see a detailed emphasis on the importance of maintaining the consumer trust and dependability within a company to promote the product. Some examples of what you will be reading about in my analysis is LOR, LSI, PLS, Order management, customer service, and an overall short tie-in at the conclusion. LOR, or logistics operations responsiveness will detail how a firm reacts to the supply and demand. LSI, or logistics system information will detail the processes involved with pre-sale information, sale information, and post-sale information. PLS, or post logistics support will go into detail as to how firms are dedicated to maintaining consumer satisfaction post purchases. Order management will be detailed in collaboration with customer service and the aspects that involve both services. Each of these following topics, could be tied into what we have learned during our time in this class, involving what is required to have a successful advanced business management and logistics plan strategy and implementation.
Advanced Logistics Operations
When looking into advanced logistics operations, our first step is to examine the logistics operations responsiveness. So, what is LOR? LOR is in what manner the producer reacts to the consumer demands. There are multiple forms of LOR. These include but are not limited to how the retailer can alter and customize, or how efficiently a seller can respond to a demand change from the consumer. A vast majority of the time most LOR strategies will measure the viability and performance on-time delivery, or order fill rates (Gunasegaram, Lai, & Cheng, 2008). Some examples of successful and good LOR techniques can be prevalent in the Process D1 of the SCOR model, located in the flexibility section. There are however three requisites for this which are upside delivery, downside offer, and upside resilience.
As stated, before there are many approaches and strategies towards LOR. Seller's will sometimes create a power-play strategy which is when the seller will customize an item for consumer attraction. Consumer packaged goods, or CPG is commonly altered into special packaging using a system of co-packers, through collaboration. This creates another requisite that could represent custom packaging that shows it takes time for these products to hit retailers due to the extensive packaging work for the consumer. When committing to a LOR strategy, however a firm must also be prepared to put forth a required investment in order to create savings for the consumer, or at least this is the goal. The consumer and manufacturer will both benefit financially from the process of LOR.
Logistics is a very broad and vast understatement. There is many more aspects and strategies other than just LOR, for example LSI, which is known as logistics system information. This is an essential process to the order management process of logistics. So, what is LSI? In a nutshell this process is how a firm will determine the quality of products, the reaction, timing, and post-sale support logistics support section of the firm (Holweg & Miemczyk, 2002). With a proper system of LSI companies, or firms can successfully reduce the overstock in a management system as well as improve the income of themselves and their mutual beneficiaries. This process however is not easy to complete and does require requisites for a successful system. These three important aspects are pre-sales, sales, and post-sales. When referring to these three aspects when are entailing that we are requiring important information. For pre-sales we require information including information required prior to the purchase by the buyer and seller, for example addresses, product info, warranty information, and etcetera. The sale information is what provides the information in order to execute the final sale order. Lastly, the post-sale information is involved with the accuracy of the data as well as the time it takes to perform the activity. One example for this is the frequency data regarding the past consumption of the product as well as an estimated future return on future purchases of the product purchased. Think of this process s proper inventory management. This precision of inventory will result in the accurate and proper capturing of the demand allowing the production facilities to produce in a more efficient and timely manner. Data integrity is another parameter that can be used to determine the quality of outputs from an LSI (Bowersox, Closs, & Cooper, 2002). So how is LSI measured, or tested? This is measured by the strategy used by a firm to execute the output of LSI. However, financial aspects from this are more than likely not established through this system, but their results will be shown. Post-sale as mentioned above is how we measure the output of product to the consumer. One-way to ensure a consumer returns is to offer post-sale support for their product, thus increasing the competitive advantage of a product. Post-sale logistics support, also known as (PLS) can have two different varieties. PLS can be the central hub for returns from the consumer to the manufacturer, or supplier. In this form, the supplier is rectifying an issue, or just solving a consumer demand to be met. The other form of PLS is mobile system. What is implied by this is delivery, installation, and repairs. These are all forms, but not limited to the only different types of post-sales support. The primary purpose of the post-logistics support for the first mentioned tactic is to put a consumer at ease, during a return of product process. In other-words in order to be competitive the supplier, or manufacturer must keep consumer confidence and attempt to solve their issues with the product as well as continually improve the product. Of the two types of PLS, components logistics provides an easier methodology for calculating financial impacts of all activities that take place in the firm (Miemczyk, & Holweg, 2004).
When it comes to financing the firm, there must be a sound and strong strategy put into place. This strategy must also ensure and include the marketing plan in order to ensure the demand is properly met. The more well-tuned a firm is in the market, the more they can expand past their parameters. There will always be mistakes and risk associated within any industry and strategy plan. In other words, mistakes are bound to occur. The most efficient way to mitigate these mistakes is with a program known as ORM, or operational risk management. This is a process of analyzing a task and determining all risk factors. Then taking those risks, a firm, or individual will put into place safeties to mitigate the odds of the risk occurring.
When it comes to customer satisfaction there are two, but not limited too major aspects. Order management, and customer service are combined to make this a reality. These two-work hand in hand because they have a direct relationship with one another. Order management is the interface between buyers and sellers in the market and directly influences customer service (Holweg, & Miemczyk, 2003). Order management is when the consumer receives their product in an orderly and convenient fashion, with the goal of customer satisfaction as the customer service department is meant to promote consumer ease. Order management can be measured in a variety of ways, however most of the time this is judged by the order cycle time and dependability. The primary duty of customer service in an advanced business logistics aspect is to be on time, dependable, communicate, and create convenience for the consumer. Customer services is the combination of logistics and marketing. This has three important aspects defined as activity, set of metrics, and philosophy. By combining these aspects successfully, a firm can ensure high customer satisfaction and an increase in demand. A higher echelon of these two can be known as customer relationship management, also known as (CRM). This is a program dedicated to consumer satisfaction as well as improving the internal operations. This is since, in advanced logistics the priority concern should be the consumer demand and satisfaction. As without these two aspects the firm will never prosper.
Lastly, there is a program known as ABC, or activity-based costing. This is applied in order to develop consumer profit profiles, which allows for specific market targeting in advanced business logistics. With proper implementation this program can be very fruitful for a firm and cause a significant increase in the demand of the firm's product. The most notable outputs are, order management and customer services are customer satisfaction, product demand and supply, order cycle, responsiveness, LSI, and lastly PLS.
In conclusion as we can see the process of advanced business logistics management is a very long and strategic process. The proper implementation and execution of each strategy in this research analysis paper is required if a firm wants to be successful. In my experience with advanced business logistics the consumer happiness is always what drives the product. This is why I have taken the lesson learned and attempted to apply them to this advanced logistics business strategy. As will proper consumer happiness and ease of pain the supply and demand of a supplier, or firm's product will increase and with that so will profit. Every firm should strive for complete and total consumer satisfaction in order to remain competitive in their respective industries today.
