Coca-Cola Company is a most popular company of the world that is one of the largest selling beverage company. It was invented in the year 1886 in Georgia. The company has introduced the first soft drink in the world and now earning the most in the industry. At the present time, the company has more than 400 brands under it and they perform their business activities in more than 200 countries. It comes under 100 top most entities where it stand 41st on the list (Stock, Boyer, and Harmon, 2010).
Vision
The vision of the company is to build an effective roadmap and guide each and every activity of the company. They want to achieve sustainable growth, quality and customers satisfaction. They want to be a great company for the people by creating a strong portfolio of beverage brand in the markets. They want to treat their partners like suppliers, customers, and the best way they can s that collectively the desires and needs of the customers get fulfilled. It is a company that think about the environment so the development take place is sustainable (Tummala, and Schoenherr, 2011). The profit making of the c company is long-term as they use mindful activities. The aim is to increase the productivity by increasing the performance.
Mission
The mission of Coca-Cola Company is to maintain the standards of the products and services and serve the customers best quality products. The mission is to refresh the world, and also to inspire moment of happiness and optimism in the individual’s life. They also want to create value and make a difference (Green Zelbst, Meacham, and Bhadauria, 2012).
The identification of all the techniques used by the company are very effective. The process of supply chain management plays a vital role in achievement of goals and objectives of the business organizations. The objectives and goals are directly related to the satisfaction of the customers and the profit maximization of the company also. The aim of the company is to focus on the maximum utilization of the available resource so that the output can be achieved. There are lots of issue face by the company related to the supply and delivery of the products.
The sales market and key customers of the company are spread all over the world. The brand is one of the most anted and liked brand in soft drinks. The youth are very much fond of this brand as it provides refreshment that no other drink can give. It is liked by more than 200 countries of the world (Richey, Roath, Whipple, and Fawcett, 2010).
The Identification and evaluation of demand is done through demand forecasting techniques used by the company. There are different techniques used across the sales market through collecting and analyzing the information and data related to the buying behavior of the customers all over the world. It is done by the experts and research and development department. They conduct regular surveys. There are secondary methods that are also used to forecast the demand for the product in the future by using past data and statistical techniques. It is done because company need to produce the products according to the demand of the customers (Seuring, and Gold, 2012).
The Identification and evaluation of inventory is done through inventory management techniques used by company. The inventory management helps in management of inventories and stock in the company. It helps in avoiding spoilage, dead stock, save the storage costs, it also improves cash flows of the company, etc. There are different techniques used for different products like set par levels, first-in-first –out (FIFO), manage relationships, contingency planning, regular auditing, prioritize the ABC, Accurate forecasting, consideration of drop shipping, etc.
There are various types of challenges face by Coca-Cola company in the Research demand and inventory management. The challenges are
Research for instances of bullwhip effect as well as their ‘causes’ and ‘remedies’ across the company’s supply chain does impact the information issues and challenges of the company. This has impacted the company’s supply chain capabilities as the information and technology lays a vital role in the company success (Gereffi, and Lee, 2012).
It helps in identification of the key information technology tools used across the company’s key supply chain business processes and explain how these IT tools impacted the company’s supply chain capabilities. They can be transaction processing, supply chain processing and collaboration, order tracking and delivery coordination, etc. It helps in data collection, data analysis, transaction processing etc. There are collaborative practices used across the company’s supply chain in relationship with both suppliers and customers that help in effective supply chain management of the company. It helps to Focus on one practice for both supplier and customer side and it also helps in implementation, challenges and opportunities, and impacts on the company’s supply chain capabilities of coca cola (Craighead, Ketchen, Dunn, and Hult, 2011).
Plan- it is the first step of supply chain management that includes ware housing, delivery, size, location, etc.
Source- the emphasis on this stage is the arrangement of relevant source that are required in fulfilling the first step. It helps in boosting up of all the activities required to execute the plans in reality (Hitt, 2011).
Execute- at this stage, the implementation of the designed process and plans are takes place. The plans will take shape. At this stage, the maximum amount of efficiency takes place.
Deliver- the delivery of goods and service take place in this stage. It is the stage, the customers get involved in the process of supply chain management. It includes, warehousing, packaging, employing all sort of relevant areas, etc. the coca cola company use very updated and latest technology in order to have effective and right delivery of the goods (de Vries, and Huijsman, 2011).
Return- it is the last step of supply chain management as in this stage the evaluation and identification o returned takes place.The Triple-A Supply Chain, i.e. agility, adaptability and alignment
The sustainability report of Coca-Cola Company shows that it is a long lasting commitment with the sustainability but still company has faced many problems related to the sustainability issues. The global operations takes place in the company sometimes lead in sustainable issues (Sodhi, Son, and Tang, 2012). The sustainably report of 2015-2016 shows that they have achieved many good response form the pas years. They focus on the following parts like
The Company Coca-Cola is the world’s powerful brand and number one in the beverage industry. It is the dominated market and strongest supply Chain Company as the products of this company is available in village and towns of the countries (Colicchia, Melacini, and Perotti, 2011). The company Coca-Cola Company build an excellent and intelligent supply chain management of their goods and services. The focus of the company is on the sustainable development of the company. The product procurement and supply chain analysis emphasize on the satisfaction of the customers. There are significant amount of transactions takes place that are standardized (Keller, Parameswaran, and Jacob, 2011). They are trying to integrate to untouched market by establishing new set of management in the supply of products. The company has also bring changes in the process of manufacturing and production. They are trying to bring an expansion of the brand in the regional areas of the countries. For this, the company has launched various front offices, backend process, etc.
The other procurement of the company is to fill the gaps between the supply and the demand of the goods and services by maintaining effective supply. For this the company is bringing new technology, new capacities, etc. in the areas where it was lacking (Monczka, Handfield, Giunipero, and Patterson, 2015).
Discussion of improvement programs
The organization has changed itself as a “learning organization” that refers to monitors the environment of the company, learn from the environment and then adapt the changes. The managers of the company taking changes as an opportunity that will provide them competitive advantage in their company (Crittenden, Crittenden, Ferrell, Ferrell, and Pinney, 2011).
The improvement programs can assist the company to achieve its vision, mission and strategic goals. As the applicability of all the programs taking place in the company, the company is achieving new heights. It is now able to achieve its vision, mission and strategic goals. The company has become one of the leading company of beverage industry. In this way, the improvement programs are very successful as they are applied in the Coca-Cola Company (Wheelen, and Hunger, 2011). It helps in improving the lack of innovation, bring changes, provide aid to effectively apply changes, etc.
Conclusion
The coca cola company is one of the largest supply chain management company in the entire world. The volume of the goods and services of this company is very huge so there are lots of problem and challenges faced by the same. Supply chain management is an important part for every organization as it improves the effectiveness, efficiency, management of resources, etc. it also establish god and prominent relations with the stake holders like suppliers, customers, etc. it integrates and combines the entire business activities and take care of each and every step that ultimately helps in achieving satisfaction of the customers and goals of the company.
References
Colicchia, C., Melacini, M. and Perotti, S., 2011. Benchmarking supply chain sustainability: insights from a field study. Benchmarking: an international journal, 18(5), pp.705-732.
Craighead, C.W., Ketchen, D.J., Dunn, K.S. and Hult, G.T.M., 2011. Addressing common method variance: guidelines for survey research on information technology, operations, and supply chain management. IEEE Transactions on Engineering Management, 58(3), pp.578-588.
Crane, A., Palazzo, G., Spence, L.J. and Matten, D., 2014. Contesting the value of “creating shared value”. California management review, 56(2), pp.130-153.
Crittenden, V.L., Crittenden, W.F., Ferrell, L.K., Ferrell, O.C. and Pinney, C.C., 2011. Market-oriented sustainability: a conceptual framework and propositions. Journal of the Academy of Marketing Science, 39(1), pp.71-85.
de Vries, J. and Huijsman, R., 2011. Supply chain management in health services: an overview. Supply Chain Management: An International Journal, 16(3), pp.159-165.
Gereffi, G. and Lee, J., 2012. Why the world suddenly cares about global supply chains. Journal of supply chain management, 48(3), pp.24-32.
Green Jr, K.W., Zelbst, P.J., Meacham, J. and Bhadauria, V.S., 2012. Green supply chain management practices: impact on performance. Supply Chain Management: An International Journal, 17(3), pp.290-305.
Hitt, M.A., 2011. Relevance of strategic management theory and research for supply chain management. Journal of Supply Chain Management, 47(1), pp.9-13.
Keller, K.L., Parameswaran, M.G. and Jacob, I., 2011. Strategic brand management: Building, measuring, and managing brand equity. Pearson Education India.
Monczka, R.M., Handfield, R.B., Giunipero, L.C. and Patterson, J.L., 2015. Purchasing and supply chain management. Cengage Learning.
Richey, R.G., Roath, A.S., Whipple, J.M. and Fawcett, S.E., 2010. Exploring a governance theory of supply chain management: barriers and facilitators to integration. Journal of Business Logistics, 31(1), pp.237-256.
Seuring, S. and Gold, S., 2012. Conducting content-analysis based literature reviews in supply chain management. Supply Chain Management: An International Journal, 17(5), pp.544-555.
Sodhi, M.S., Son, B.G. and Tang, C.S., 2012. Researchers’ perspectives on supply chain risk management. Production and operations management, 21(1), pp.1-13.
Stock, J.R., Boyer, S.L. and Harmon, T., 2010. Research opportunities in supply chain management. Journal of the Academy of Marketing Science, 38(1), pp.32-41.
Tummala, R. and Schoenherr, T., 2011. Assessing and managing risks using the supply chain risk management process (SCRMP). Supply Chain Mana=-jvgement: An International Journal, 16(6), pp.474-483.
Wheelen, T.L. and Hunger, J.D., 2011. Concepts in strategic management and business policy. Pearson Education India.
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