1. INTRODUCTION 2
Q.1. Why is it important that there is an understanding of markets from manufacturing's perspective? Support your answer with material from a case study during the module. ;3
2. Case: Precision Steel plc. 6
2 (a) Marketing initiative concerning Gambert Fabrique 6
2(b) Identification of strategic implications for marketing and manufacturing that could restrict achievement of precision steel's objectives. 13
2(c)Executive Summary to Precision Steel pls and Brain Finn 24
The module covers the strategy that focuses on manufacturing part of the company or an organisation. It helps us to design the manufacturing strategy and implement it in an organization effectively. It covers the case studies, which helps to understand the functioning of an organisation and the way they implement their strategies from time to time. It tells us the importance of designing company's marketing objective and manufacturing strategy, which is necessary to provide a competitive advantage to the company in global market place of 21st century. It helps us to define the resources of the company and use them in more effective manner so as to obtain the company's objective and hence profits.
"The total pattern of decisions which shape the long-term capabilities of any type of operation and their contribution to overall strategy, through the reconciliation of market requirements with operation resources"(Slack and Lewis)
Q.1. Why is it important that there is an understanding of markets from manufacturing's perspective? Support your answer with material from a case study during the module.
Following are the important factors that tells the need of understanding of markets from manufacturing perspective because:
1. Nature of market
This will tell the company about the nature of market where they will be implementing their strategies. If company is aware of the type of market they will produce more customer-oriented products.
E.g.: TYNDALL FURNITURE COMPANY got to know that there is been failure in the past to offer an adequate product range. They know that their customers have been demanding a fuller product line as a key feature in increasing overall sales. So this shows company have knowledge of the markets and customers requirements.
Rivalry between two or more businesses striving for the same customer or market gives birth to the competition. If a company have understanding of past and present competition where they will be investing then this will allow them to design their manufacturing strategies more effectively. E.g.: TYNDALL FURNITURE COMPANY continually reviews its product range. They continuously worked to meet their customer's expectations with regard to their image as a full-service manufacture. They remain alert to the changes taking place in market.
3. Order winners and Order qualifiers (Target Markets)
This is yet another important factor which tells the need of understanding market. It focuses on who are order winner and who are order qualifiers in the market. Market is divided into certain sections and for each section products and customers are selected which stand for that section. E.g.: TYNDALL FURNITURE COMPANY they know that their customers have been demanding a fuller product line as a key feature in increasing overall sales. So this shows company is aware about the needs of the customers and then they can targets the segments of the market.
4. Range and Volume of market
This tells the volume and amount of business company or organisation might have in the market. E.g.: TYNDALL FURNITURE COMPANY. Their principal furniture designs are colonial and early American, and with these looks they used primarily oak and cherry woods. In order to increase their sales they sells many items that are made of solid wood and even laminated products that looks good and solid. So we can say company have long range for the different...