Costco: Steering Into the Blue Ocean Background: Costco’s first location opened in 1976 in Moreno Boulevard‚ San Diego. Costco was originally named Price Club and later merged with Costco in 1993 by 1997 all the warehouses were renamed Costco Wholesale Warehouses. Costco was a small business but was very ambitious and thus expanded into warehouse clubs. Currently‚ Costco operates more than 663 warehouses and is a global powerhouse. Its total sales have surpassed $64 billion in recent years.
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Olena Marchenko Costco Wholesale Operations and Supply Management OMIS 357 (Fall’09) Agenda • • • • • • • Background and Business Model Processes and Queues Management Supply Chain Strategy Quality Control Inventory Management Recommendations Q&A Background • • • • Headquartered in Issaquah‚ WA 550 warehouses in 40 states Present in 6 countries outside US $71B revenue in 2008 1993: merged with PriceClub: PriceCostco (206 locations) 1998: Costco.com 1999: Costco wholesale 2009:
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great bargains and Costco is setup to keep the customer coming back to find them. 2. What are the chief elements of Costco’s strategy? How good is the strategy? The cornerstone of Costco’s strategy was low prices‚ limited selection‚ and a treasure-hunt shopping environment. Chief elements of Costco’s strategy were low prices‚ limited selection‚ and a treasure-hunt shopping environment. The ultra-low pricing strategy includes a mark-up capped at 14% and Kirkland‚ a Costco brand designed to be
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Costco is a retail warehouse wholesale club that offers a wide variety of quality brand-name merchandise. The founders James Sinegal and Jeffrey Brotman opened the first warehouse in Seattle‚ Washington in 1983. Keeping costs down and passing the savings on to the members has been their operating philosophy. (Costco‚ n.d.) Today there are more than 600 warehouses worldwide with sales exceeding $64 billion. (Costco‚ n.d.) With a yearly membership fee ranging from $35.00 to $100.00‚ this provides
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Use the information in Figures 3.4‚ 3.5‚ 3.6‚ 3.7‚ and 3.8 (and the related chapter discussions on pp. 57-70) to do complete five-force analysis of competition in the North American wholesale club industry. 2. Do all three warehouse club rivals—Costco‚ Sam’s‚ and BJ’s Wholesale—have highly similar strategies? What differences in their strategies are apparent? Does one rival have a better strategy than the others? Does one rival have a somewhat weaker strategy than the other two? 3. Which of the
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development in the corporate general environment in relation to the construction industry 1.0 INTRODUCTION This Study is to discuss how the development in the corporate general environment can affect the corporation through the competitive environment in the ECOWAS sub region. To accomplish the objective of the study‚ attention will be centred on the construction industry in the Ghanaian market for the industry role it’s played in the field of infrastructure and construction in the country Using
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The external environment factors of an organization consist variety of factors‚ which typically come from outside of company and impact the company’s ability to function in global market. For Costco‚ environmental factors have a powerful impact on business because it typically doesn’t have any control. Since‚ environmental factors do not have any control and limitation it brings many challenges and threats to the success of the business. Political factors: Political factor play a huge role in
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Introduction Costco is the fifth largest general retailer in the United States. Currently‚ it operated 608 warehouses‚ of which 439 are in the United States and the rest are in Puerto Rico‚ Canada‚ Mexico‚ UK‚ Japan‚ Taiwan‚ Korea and Australia. They also have an online business as well as‚ Costco Travel to complement their warehouse operations. Costco actually focuses on selling their products to customers as a lower They gain an estimate of over $70 billion USD (2008) are generated through
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Abstract Every organization develops a mission statement to inform the public the beliefs and standards the organization holds in conducting business. This paper will research the mission statement of Costco. The Mission Statement of Costco Wholesale: "Costco ’s mission is to continually provide our members with quality goods and services at the lowest possible prices. In order to achieve our mission we will conduct our business with the following Code of Ethics in mind:
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BUSINESS RESEARCH ON COSTCO WHOLESALE CORPORATION PRESENTED TO: TIM CARROLL PREPARED BY: YUZHEN LIN ID# 122629 CHENGKAI LV ID# 126218 February 14‚ 2014 TABLE OF CONTENTS 1. Executive Summary............................................................................................. 2. Company Analysis 3. Industry Analysis..............................................................................................
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