Answered: Which trends do you think are the…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Will the supply chain world remain chaotic this year, asks Supply Chain Dive (Feb. 22, 2022)? What about shortages, scarce materials, and delivery expectations? How should companies approach their supply chain strategy in 2022? Here are 7 trends suggested in a new ebook: TREND #1: LABOR SHORTAGE CONTINUES The first prediction for 2022 is that the labor shortage in supply chains will continue well into 2022. There’s no area of labor left unturned – be it labor planning, employee retention, labor efficiencies, or robotics. Every strategy and profit impact option must be rescoped. TREND #2: NEED FOR REAL-TIME VISIBILITY Companies are now recognizing the importance of real-time visibility in their supply chain. Disruptions are rampant and costs are soaring. Teams need to be more proactive in the way they handle their processes, people, and products. TREND #3: RISING VENDOR EXPECTATIONS Companies are starting to demand more from their vendors in terms of functionality, cost-effectiveness, and reliability. Supply chain teams now need tools that work, use their data in ways that haven’t been done before, and provide a competitive advantage. TREND #4: DIVERSIFICATION Companies should be looking at their suppliers and vendors and diversifying across their core product lines. Whether ships are stuck off the coast of LA or there’s a massive demand hike due to consumer behavior that wasn’t forecasted, manufacturers need to be able to source their core materials through other previously developed relationships. TREND #5: BUILDING RESILIENCE THROUGH ACTIVE COLLABORATION Teams need to be prepared for anything. Now companies are realizing that all teams (and even customers and partners) having real-time access to the same data helps each perform better. TREND #6: MORE CONSUMERS WILL EXPECT SUSTAINABLE SUPPLY CHAINS Consumers are holding corporations more accountable for their environmental footprints. Inefficient supply chains are not only costly, but also hurt the environment more. While the pandemic slowed or stalled many environmental trends in 2020, expect a growing resurgence toward companies investing in building more sustainable processes. TREND #7: AN ONGOING NEED TO OPTIMIZE WAREHOUSES Warehouses are expensive to run and maintain. With rising supply chain costs and labor shortages, it has become increasingly important for companies to find new and innovative ways to optimize the warehouse. question: Which trends do you think are the easiest to address and why?

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