Gold Video: We have chosen a video related to Walmart’s supply chain management as our “gold” video. This video shows how Walmart, the multinational retail giant, manages its storage and supply of products and how it has gained great benefits by adopting and implementing an efficient supply chain strategy. Walmart is the world’s largest company by revenue and offers a variety of products, a range so wide that it would have been impossible for the company to manage its inventory without implementing effective strategies. Our gold video provides a sneak peek into the company’s inventory management and logistics processes, which ...
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...its customers. Thus, the execution of an effective supply chain strategy helps a firm create value and gain a competitive edge in the market.
Silver Video: We chose the second video as our “silver” video where it shows how a firm can benefit by understanding the basic processes involved in supply chain management. It highlights the fact that although technology plays a vital role in increasing the profitability of a firm, relying solely on technology might not be enough for running a business smoothly. A company must also take into account several factors such as optimal inventory levels, expanded product lines, reliable transportation networks, global supply channels, effective vendor negotiations and accurate demand forecasting to stay above its competitors in the market. The most important factor of supply chain management for a company is to forecast its product
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