Supply Chain Management at Toyota
Toyota essentially follows a very simple supply chain management policy. While ensuring a reasonable level of quality, delivery time and satisfaction of customers, Toyota attempts to reduce costs in its supply chain.
Producing the right product for the market at the right price that can be affordable for the customers are the primary objectives of the supply chain management policy at Toyota at the right time. In order to maximize profits, the company follows a policy of targeting the right customer group at the right time (Liu & Brookfield, 2006).
A pictorial representation of the supply chain management policy of Toyota is listed in the appendix. The company segregates its supply chain and the suppliers. It considers the suppliers as a very integral part of the supply chain. Apart from supplying raw materials for automobile production, the suppliers are also suppliers of technology for the various systems that are incorporated in the automobiles. Based on what functions the suppliers perform, they are segregated in to several tiers (Iyer, Seshadri & Vasher, 2009).
Suppliers engaged in the product development at the company are placed in the first tier. Companies that are engaged in the development of computer software for the vehicles and the various intelligent systems that are incorporated in the state-of-the-art luxury cars that are produced by the company and the companies that directly take part...
"Wal-Mart has the biggest IT systems of any private company in the world and supply chain Wal-Mart has made important investments in supply chain management" (Why Wal-Mart's supply chain is so successful, n.d.). Wal-Mart's way of doing business is founded on a low price approach and low transportation expenses which permit it sell its products at the lowest achievable prices. "In return for its Everyday Low Price Strategy, Wal-Mart's suppliers,
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