The Importance of Strategic Partnership

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A1. Supply chain explores on the potential conflicts of working within an organization. It also emphasizes on balancing individual, functional, and organizational goals in order to hit the target and achieve success. According to Thomas L. Friedman, supply chain is one of the forces that resulted in a flat economic plain field. Technology and geo-economics are the factors contributing to these changes because of the way they reshape human lives. Thomas explains further by emphasizing on how globalization shrank the world from its large size to medium small, by individuals and small groups dynamics.  The completion among people on where they fit in the globalized world results to the flattening of the world. Every individual at this point aims at being a controller of its own in taking part in the globalization process.

A2. Wal-Mart is the largest retailer with strategic partnership that ensures it finds high quality products from its suppliers at the best price to meet its demand.

Technology- this retailer embrace technology because, it increases its efficiency. The presence store tracks restock the shelves hence cutting the costs that could have been used by manpower.

Inventory tactic- for instance cross docking helped in moving products from truck trailers directly into outbound trucks with no storage hence simplifying the work.

A3. From the above features, small businesses are supposed to ensure that they have their known partners who provide them with quality products. This serves as a great way to get new customers because it allows for the sharing of business ideas between the two parties. Agreements between two companies also ensure achievement of strategic goals. Therefore, strategic partnership allows for access to new products, and growth of customer base.

October 30, 2023

Business Economics


Corporations Marketing

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