Discuss the Four I's of SC&O management and how they impact the competitiveness of a firm and a supply chain.
What will be an ideal response?
The Four I's of SC&O management are impacting, improving, innovating, and integrating.
Impacting means effectively managing core processes that affect the customer. If you manage SC&O processes well, your customers will be satisfied and the company will be successful. Research shows that customer retention (which ties into customer satisfaction) directly correlates to a firm's profitability.
Improving is a process, not a single event. It is the result of effective process management and design and is necessary to stay competitive as customer expectations are constantly rising.
Innovating is change on a larger scale (as compared to improving) that has a dramatic effect on business results. It could involve new product and new offerings and/or new business models to provide value to customers.
Integrating is collaborating and cooperating with all the stakeholders in SC&O processes. One of the best ways of managing complexity is through integrating. That is, by communicating and collaborating, teamwork is enhanced and problems are more easily solved.
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