MNM2604 ASSIGNMENT 03 ANSWERS 2021 [SEMESTER 1 &2]

MNM2604 ASSIGNMENT 03 ANSWERS 2021 [SEMESTER 1 &2]/ MNM2604 ASSIGNMENT 03 ANSWERS 2021 [SEMESTER 1 &2]/ MNM2604 ASSIGNMENT 03 ANSWERS 2021 [SEMESTER 1 &2] INNOVATION IN THE SUPPLY CHAIN THROUGH RELATIONSHIP MANAGEMENT 1. Introduction Adhesive Africa operates in a highly competitive market which requires them to understand their business environment, keep up with the customer requirements through innovation, understanding the importance of relationships with both their customer and supplier. The aim of this assignment is to assist Adhesive Africa on how they can go about revamping their value chain to keep them competitive. 2. The dynamic business environment Marketers often operate in highly diverse and rapidly changing circumstances. Existing competitors are continuously changing their products and service features, their manufacturing and delivery systems. New competitors are also entering most markets from other industries (sometimes quite unrelated industries), bringing with them whole new approaches to competition. From a B2B marketing perspective the key drivers of change can be summarised as follows:  Interdependence – as competition increases and companies become more specialised, their dependence on other firms (often specialists) increases. In today’s hyper-competitive environment and interconnected world, very few firms have the capability to exist without the support of other firms in the business ecosystem. Practical application: Up until now adhesive Africa has sold their products directly to their client organisations, but is now considering also using intermediaries to sell their products to business customers. There are intermediaries with excellent marketing skills and are able to serve customer firms countrywide.  Technology – there are many instances of technologies in the market today that would have been impossible a few years ago. These technologies reduce the lifespan of many existing products and frequently expose entirely new production product directions. Sometimes these technology improvements are easier to implement than you might expect. However, this changes are critical for the B2B marketer as they bring challenges in terms of managing product and relationship portfolios. Practical application: Because some of on the Dot markets are declining, the global print media industry is rapidly undergoing profound changes, changing the way in which content is being produced, marketed, distributed and consumed. As a result, the industry is under pressure to come up with new products, business models, processes and strategies whilst operating in a declining market with limited investment capabilities. The uncertainty is worsened by dramatic advances in technology, changing consumer expectations and creation of a complex environment to operate in.