Essay on Supply Chain Management at Regal Marine - 673 Words

SUPPLY CHAIN MANAGEMENT AT REGAL MARINE Global firms like Regal Marine know that the basis for an organizations existence is the good or service it provides society. Great products are the keys to success. With hundreds of competitors in the boat business, Regal Marine must work to differentiate itself from the flock. As you read in the Global Company Profile that opened this chapter of your text, Regal continuously introduces innovative, high-quality new boats. Its differentiation strategy is currently reflected in a product line consisting of 22 models. As firms become increasingly focused and specialized, the supply chain performance grows in importance. Money spent with suppliers represents a huge portion of most firms revenues.†¦show more content†¦However, partnering extends from jointly developing components, to modular designs at suppliers and at Regal, to rapid delivery and low inventories. These techniques allow innovative products to be rapidly and economically included in Regal’s boats. Regal has also developed special arrangements with suppliers who maintain shop floor components for Regal. In some instances title transfers when the item is used, and in other cases title transfers when items are delivered to the property. Both approaches help Regal reduce total inventory and the related costs. In this partnering process, Regal Marine partners can expect loyalty from Regal, and the suppliers can gain prestige by representing the high-quality products which Royal Marine produces, which can result in profit margins. Suppliers can also largely benefit from economies of scale and learning curves, reducing the production cost. The â€Å"friendship† and loyalty which arise from partnership gives confidence and stability to the business. Additionally, Regal’s membership in the American Boat Builders Association allows it to participate in lower costs because of the combined purchase strength of the association. Finally, Regal works with an Orlando personnel agency to outsource part of the recruiting and screening process for employees. In all of these cases, Regal is demonstrating creative approaches to supply chain management that help RegalShow MoreRelatedPearlll619 Words   |  3 PagesSupply- Chain Management at Regal Marine Like most manufacturers, Regal Marine finds that it must spend a huge portion of its revenue on purchases. Regal has also found that the better its suppliers understand its end users, the better are both the supplier’s product and Regal’s final product. As one of the 10 largest U.S. power boat manufacturers, Regal is trying to differentiate its products from the vast number of boats supplied by 300 other companies. Thus, the Orlando firm works closely withRead More460 Syllabus KWONG Winter 11 121220855 Words   |  4 PagesSTUDIES IN OPERATIONS MANAGEMENT Winter 2011, SHC C368 Instructor: Kern Kwong, Ph.D. Office: Simpson Tower 805 College of Business and Economics California State University, Los Angeles Office Hours: Tuesday: 2:00-6:00 p.m. Email: kkwong2@calstatela.edu Website: http://instructional1.calstatela.edu/kkwong2/Mgmt460 Office Telephone: 323-343-2899 [Use email if you need a reply quickly.] Course Description Management 460 is a case studies course in the management of manufacturing andRead MoreEssay on Supply Chain Management686 Words   |  3 Pages â€Å"Supply chain management is the flow of goods, services, and information from the initial sources of materials and services to the delivery of products and activities occur in the same organization or in other organizations†(Horngren695). This approach enables Regal Marine (R.M) to be highly effective, efficient, and profitable. More over supply chain management effectively manage your supply chain by synchronizing the demand for your products with your production capabilities, optimizing your resourceRead MoreEssay on The culture of Quality at Arnold Palmer Hospital2902 Words   |  12 Pagesï » ¿Chapter Supply-Chain Management Discussion Questions 1.â€Æ'Supply-chain management is the management of the activities that procure raw materials, transform them into intermediate goods and final products, and deliver the products to customers through a distribution system. 2.â€Æ'The supply-chain function’s role is to help identify the products and services that can best be obtained externally; develop, evaluate, and determine the best supplier, price, and delivery for them. 3.â€Æ'The objective of logisticsRead MoreEssay on Regal Carnation Hotel Case3818 Words   |  16 PagesRegal Carnation Hotel (Guam) Case Analysis Case Introduction The island of Guam is an unincorporated territory of the United States located in the Philippine Sea. 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