Supply chain management and Porter's generic strategies
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Identify Porter's three generic strategies, and explain how supply chain management might fit into them.
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This 400 word solution identifies and explains Porter's three generic strategies and how they can be used within supply chain management.
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The three strategies are:
1. Cost Leadership - this consists of the company gaining market shares by becoming attractive to those consumers who are cost or price conscious. In order for this to happen the product must have the lowest prices in the target segment of the market or the lowest price compared to what the consumer is receiving. The trick to this is to offer the lowest price but to still maintain a profit and a high return on your investment. To do this the company would basically have to run its operations at a lower cost than its competitors. One way to do this is ...
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