The paper "Operation and Supply Chain Management at Sydney Costco " is a [erfect example of a finance and accounting case study. Costco among many other firms trading in the chain store business is currently faced with a highly lucrative market in this fast-growing economy. The retail firm is placed fifth-largest chain store trader in the United States and second in Canada. The current trend towards an increased number of entrepreneurs and the overall retailing environment has cost many retailers to rethink on their strategies. Costco management, however, has concentrated on improving its initial trade value and is having increased success.
Costco management has currently planned to invest in Australia’ s Sydney market. Sydney Costco being a start-up chain store in the newly identified market, a region that Costco’ s management is preparing for good business returns from her products. The firm finances are expected to come from private investors, with workforce remaining dependant on Costco’ s long term servicing employees with an additional number from the market location. This should effectively drive the business to better heights as it familiarizes with customers and impact-driven by her immediate rivals.
With financial support in place, Costco’ s marketing team are able to schedule product-service promotional activities in order to inform the customer of the firm’ s product presence in the market and what it is offering. This should focus on informative messages creating increased awareness of the firms’ product to her customers. Introduction Operating a supply chain business calls for a strategic business positioning, a good plan on how to penetrate new markets is of great importance (Boyer, 2009, pp. 19). The business management has to involve her marketing team in conducting a market survey.
This is important, as business management will identify their product strong factors and possible weakness to strategically plan for entry, considering that the market has other similar products on offer. To effectively and sustainably manage the business under this setting, management has to create clear links both servicing her customers and ensure a steady supply of products to the business premises (Cohen, 2005, pp. 113). This calls for a cross-functional approach which involves managing movement business inventory, aspects of internal processing, distribution of purchased items. This introduces as to Costco, whose management is planning an expansion plan with the identified market being Australian Sydney region. Costco Business Objectives Costco business strategies seek to provide quality information to our various target groups of customers; in the process, we act to fully satisfy customers’ needs, as a management plan to meet all aspects of price, quality and service delivery (Mentzer, 2004, pp. 38).
This has to be undertaken through recruiting of expert marketing resource research and business team consultancy, while the firm management works to produce higher-quality reports in the already existing branches in support of strategizing in the Costco new market (Blecker, 2009, pp.
23). The business outline has to be professionally designed this will help in selling Costco’ s image and reputation within the existing and the newly found market. The firm intends to build a good relationship with the Australian authority, more importantly, the Sydney authority agencies and other supportive private institution within the locality. This is the foundation that remains critical and important to be achieved within the earlier stage in order to boost Costco’ s business aspiration (Bozarth, 2006, pp.
Boyer, K, K. (2009). Operations and supply chain management for the 21st century. London: Cengage Learning.
Blecker, T. (2009). RFID in Operations and Supply Chain Management: Research and Applications. Berlin: Erich Schmidt Verlag GmbH .
Cecil C. Bozarth, R. B. (2006). Introduction to operations and supply chain management. London: Pearson Prentice Hall.
Cohen, S. (2005). Strategic supply chain management: the five disciplines for top performance. New York: McGraw-Hill Professional.
Daft, R. L. (2011). Management:Business & Economics. Wall Street journal , pp.681.
Frederick, R. D. (1998). Competing through supply chain management: creating market-winning strategies through supply chain partnerships. London: Springer.
Kulkarni, S. (2004). Supply chain management: creating linkages for faster business turnaround. New York: Tata McGraw-Hill Education.
Mentzer, J. T. (2004). Fundamentals of supply chain management: twelve drivers of competitive advantage. London: SAGE,.
National Association of Purchasing Management. (2002). The journal of supply chain management. The journal of supply chain management , Volumes 38.