3M Corporation is developing a RFID (Radio Frequency Identification) Tracking sy

Question

3M Corporation is developing a RFID (Radio Frequency Identification) Tracking system which enables firms to locate, track and check out any of its products. This tracking system consists of a RFID tracking tag (or a pad), a RFID hand-held tracker and corresponding RFID tracking software. 3 M will involve its supply chain while manufacturing this product and estimates the product life cycle of this tracking system is between 6 months to one year. Describe the supply chain strategy that should be adopted by 3M while manufacturing this component. Indicate the various strategic decisions (e.g. inventory, forecasting software, supplier selection etc.) that should be taken into consideration.

Explanation / Answer

Supply Chain is the end to end flow of information,products and money so proper alignment of supply chain with business strategy is very important to ensure a high level of performance. It operates at three different level strategic, tactical and operational. New enterprises should develop operating strategies based on an appropriate balance between supply chain performance and risk,assess the probability and effects of potential threats to their supply chains and maintain sufficient slack,redundancy and flexibility to keep the potential threats at manageable levels. Below I have mentioned some important factors that can be adopt:-

1. Industry Framework :- This term refers to interaction with suppliers, customer, development team and keep eyes always open for various other industrial factors. That can be achieved by keep monitoring product efficiency and product cost.

2. Inventory Managemnt Strategy :- Required proper inventory management procedure to manage proper inventory to prevent lost sales due to demand exceeds supply.

3. Product Lifecycle :- Proper product development and adoption of new technology through R&D team is required to handle continously renew product portfolio and keep live demands from customers.

4. Supplier selection:- It is also very important area. Two way communication by using alliance management is the best way to manage Supplier relationship managment. Required proper performance measurement abjectives and goals improvement with the objectives of achieving valus is required.

5. Managerial Focus related to forecasting of software also required by making proper maket survey and adoption of changes also required with proper development strategies as per customer requirements.

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