Free Essay

Value Addition Through Warehousing

In: Business and Management

Submitted By karthik1989apk
Words 1971
Pages 8
VALUE ADDITION THROUGH WAREHOUSING

Submitted to
Prof. Dr Jagendra Prasad Saxena
Operations Management

Done by

G.KARTHIKEYAN
A0101911223
SECTION D-43 MBA-GENERAL

Value addition through warehousing
Definition - VALUE ADDITION
The enhancement added to a product or service by a company before the product is offered to customers. Value addition refers to the additional value of a commodity over the cost of commodities used to produce it from the previous stage of production. The value added to any product or service as the result of a particular process.
A broad definition of value addition is to economically add value to a product and form characteristics more preferred in the market place. There are two main types of value addition, Innovation or coordination. Innovation focuses on improving existing processes, procedures, products or services.
Value-added services are those which complement and enhance warehousing, transportation, and logistics offerings. Using value-added logistics services enables companies to lower inventory footprints of finished goods by delaying the labelling and final assembly of products until customer orders are received. This is a cost effective supply chain strategy that gives companies more flexibility over their inventory. WAREHOUSE
The warehouse has loading docks to load and unload goods from trucks. Warehouses are designed for the loading and unloading of goods directly from Roadways, Seaways and Airways They have cranes and forklifts for moving goods, which are usually placed on ISO standard pallets loaded into pallet racks. Stored goods can include any raw materials, packing materials, spare parts, components
The facility is properly slotted. Slotting addresses which storage medium a product is picked from using the part number of the specific part that is stored according to supplier and with a proper slotting plan, a warehouse can improve its inventory rotation requirements
CLASSIFICATION OF PARTS ACCORDING TO THE LOCATION OF SUPPLIER: * LOCAL PARTS * LONG DISTANCE PARTS * KNOCKDOWN PARTS
The parts are kept in specific warehouse locations that are allotted for the specified storage locations in the different warehouses in the plant.
Value-Added Warehousing
E.W.Taylor provided value added warehousing and distribution services throughout the UK. The main mission is to offer customized solutions for the clients, intended to meet the necessities of today and set the standards of tomorrow.
In addition to the normal warehousing solutions such as pick and pack, import / export services, and inventory management, E.W.Taylor offers bespoke handling solutions including packing, processing, labeling, fumigation and assembly.
Value-added services are those which complement and enhance warehousing, transportation, and logistics offerings. Using value-added logistics services enables companies to lower inventory footprints of finished goods by delaying the labeling and final assembly of products until customer orders are received. This is a cost effective supply chain strategy that gives companies more flexibility over their inventory.
Value addition can be done through following ways. 1. Space planning 2. Equipment planning 3. Layout planning 4. Space utilization & 5. Effective supply methods
These are deeply discussed below.
1. SPACE PLANNING Randomized Storage * An individual stock keeping unit SKIDS can be stored in any available storage location. * An inbound load is assigned to the closest available storage location. * Retrievals are first-in, first-out (FIFO).

Dedicated Storage * Each SKID is assigned to a specific storage location or set of locations. * Storage locations can be arbitrarily determined such as part number sequence, or they can be determined based on the SKIDS activity level and inventory level. * Number of storage locations is the sum of the maximum inventory level for each SKID. * Maximize Throughput * Assign SKIDS to storage locations based on the ratio of their activity to the number of locations assigned to the SKIDS. * SKIDS with the highest ranking are assigned to the preferred openings.
Class Based Storage * Hybrid configuration which assigns SKIDS to classes based on their activity-to-space ratios, but uses randomized storage within the classes. * Yields some of the throughput benefits of dedicated storage and the space benefits of randomized storage. Supermarket Storage * Combination of random and assigned storage.

2. EQUIPMENT PLANNING Storage Equipment Types * Bulk Storage includes block and tight-blocking stacking * Portable Racks or Stackable Racks * Pallet Rack , Flow-Through Rack * Bin Racks or Shelving * Sliding Racks or Gravity Flow Racks

3. LAYOUT PLANNING
Objectives
* To utilize space effectively * To provide efficient materials handling * To minimize storage cost while providing the required levels of service * To provide maximum flexibility * To provide good housekeeping Layout Principles * Similarity * Items that are received and shipped together should be stored together. * Size * Provide a variety of storage location sizes to accommodate a variety of products. * Utilize adjustable racks or shelves if product and unit load sizes are uncertain or change periodically.

4. SPACE UTILIZATION
Conservation of Space * Maximizing concentration * Maximizing cube utilization * Minimizing honeycombing Limitations of Space * Clearance height * Stacking height * Floor loading * Columns * Gangways
PALLET RACKING Pallet racking is a material handling storage aid system designed to store materials on pallets (or “skids”). Although there are many varieties of pallet racking, all types allow for the storage of palletized materials in horizontal rows with multiple levels. All types of pallet racking create some level of increase storage density with the least dense being the least expensive and cost increasing with storage density. Selective rack is the least dense at a cost of about $50–$70 per pallet position up to gravity flow pallet rack which can cost $250 –$400 per pallet position. Forklift trucks are usually an integral part of any pallet rack system as they are usually required to place the loaded pallets onto the racks for storage. Pallet racks are an essential and ubiquitous element in most modern warehouses, manufacturing facilities, retail centers, and other storage and distribution facilities.

Pallet Flow System Flow Storage consists of two elements: a static rack structure and dynamic flow rails. The flow rails are a track/roller system set at a decline along the length of the rack. Flow rails allow loads to move by gravity from the loading end to the unloading end. Each flow lane includes self-energized speed controllers (brakes) to gently control the speed of movement within the flow lanes. As a load is removed, the loads behind it move forward to the unloading position. The flow system depth, height, and width are limited only by the size of your facility and the capabilities of your material handling equipment. Flow Storage solutions are used in situations where storage density and inventory rotation are priorities.
METHODS USED FOR STORAGE OF PARTS * Floor storage * Highbay rack storage * Storage in stillages and trolleys
The ware house receives part from almost 82 part suppliers and these parts are either from Chennai warehouse (Vantec) which is a direct outsourcing unit or direct from the suppliers from Chennai, Delhi, Pune, and Bangalore.

STACKING:
The stacking is done using the forklifts that are available in the warehouse and the maximum stacking height that is maintained in the warehouse is 4.2metres. The stacking procedure includes placing of the modules i.e., skids according to the standard number in package (SNP) and the size of the package and type of package.
Basics for Goods Movements
In the Warehouse, there are two types of goods movements: * Movements that affect only the warehouse, such as stock transfers within a warehouse * Movements that affect not only the warehouse but also other departments, such as stock transfers to production
5. SUPPLY METHODS
There are four types of supply methods on the basis of type of parts and ease of use. Another important issue while deciding about the supply method is how easily the parts are available for the Assembly process.
Depending on the requirement parts are supplied by following four methods * Kitting * Syncro * Direct & * Fastener

Kitting:
The practice of feeding components and subassemblies to the assembly line in predetermined quantities that are placed together in specific containers is known as kitting in the industry. For discussion purposes, a kit may be generally viewed as a container which holds a specific assortment of parts that are used in one or more assembly operations in the plant.
In kits, all items are presented in a logical order so they can be removed from the container as quickly as possible without damage. It is important to keep it simple and the kit itself is structured or laid out in a predetermined and effective way.
The type of components and subassemblies required for each kit type is given by the kit structure. Kit assembly is an operation where all the components and/or subassemblies that are required for a particular kit type are physically placed in the appropriate kit container. Conceptually, kit assembly is an order picking operation.
Syncro:
The Parts are synced or ordered according to the requirement in the trolleys & chutters and then brought to the assembly line. Two sorts.. * Syncro done by the supplier and then shipped to the Plant * Syncro done inside the warehouse
Requirement is sent to the supplier from the central control room (Order of car flow in the assembly line) to make Syncro order of parts. It is usually done for the parts which vary according to the variants of a vehicle. For example Mirrors, Tyres, Seat kit, Door Tinte etc…
Direct:
The parts which are loaded directly to the assembly line, are called direct parts. Ex: Hub drum, fuel valves, Brake valve etc.
Fastener:
These are also direct parts but common for all the vehicles. Ex: bolts, nuts.

Talking about value addition, the flow racking system is a great boon on warehousing
The Advantages of Flow Rack Systems: * First-in, first-out (FIFO) inventory control.
Loads are transported, via the flow rails from the loading end to the unloading end of the storage system. The first load in is always the first load to be taken out. This constant stock rotation is especially beneficial with perishable or time-sensitive goods, such as food or pharmaceuticals, where a lost product becomes a lost profit. * Reduced handling costs.
Once loaded, product rotation is automatic. The SK3400 rack eliminates labor and fork truck operation to rearrange loads. And Steel King flow rails are powered by gravity, requiring no electricity or other utilities. * Reduced handling equipment costs.
Fork lifts are required only for the initial loading and final unloading. Because only two aisles are necessary, aisle space can be reduced by 75 percent. Fewer fork lifts, operating fewer hours, and consuming less fuel can accomplish the same handling function. * Time and labour savings.
With only two aisles, each dedicated to specific functions (loading or unloading), traffic is more orderly, employees are more efficient and overall productivity is improved. * Space savings.
Because storage density can be doubled, storage capacity can be increased within the same storage area, or a portion of your existing storage area can be made available for other uses. * Construction cost savings.
By increasing storage capacity within existing facilities, the need for new construction could be eliminated. When new construction is necessary, building size and cost can be reduced by up to 50 percent. A smaller warehousing area, in turn, can reduce insurance, land acquisition costs, and taxes.

* Operating expense reduction
Higher density storage and consequently smaller storage areas also mean less area to heat, illuminate, air condition, and/or refrigerate. * Decreased fork lift damage
Decreased fork lift handling of loads can result in less product damage and less potential for collision damage to the rack structure. * Flexibility
Flow storage systems have been successfully installed as a part of virtually every storage function, including raw materials receiving and storage, work-in-process, buffer storage, finished goods, order picking, and cross docking.

Hence the Warehousing facilities play a vital role in the overall supply chain process that are fundamental for warehouses to achieve both efficiency and effectiveness in supply chains, and provide some perspective on current challenges and the future.…...

Similar Documents

Premium Essay

Procurement Is Essentially Delivering Value Through Relationships

...'Procurement is essentially delivering value through relationships' Procurement and Contract Management This article is a literature review on the topic ' Procurement is essentially delivering value through relationships' . Procurement has been always considered to be the least among functions like Marketing, Finance, Human Resource Management etc...even though about 60% of the operating cost is for procurement and in cases like a manufacturing company it is even more. The recent Economic crisis has forced the top management to focus on this aspect of the business more carefully. This review explores the various aspects of procurement, in order to understand the concept of procurement some of the basic concepts like buyer and supplier, business relationships and customer value have been defined. Further I have tried to establish how procurement can add value to a business and to do this I have quoted examples from various business websites and journals. The review is also able to describe how a long term business relationship between the Buyer and Supplier can benefit each other both in terms of growth and financially. Every positive side has a negative side to it, I have been able to show some aspects of the negative side of it. Overall it can be concluded that procurement does deliver value through relationships. Introduction Procurement process is one of the most essential part of a business or a project. Through this process you are exposed to the potential......

Words: 4513 - Pages: 19

Premium Essay

Warehousing

...the rapid movement of products through a facility and thus attempt to maximize| | |throughput (the amount of product entering and leaving a facility in a given time period). | |2 |Explain the four ways that warehousing facilitates the regrouping function. | | | | | |Regrouping involves rearranging the quantities of products as they move through the supply chain and it takes four | | |forms: accumulating (also referred to as bulk-making), allocating (also referred to as bulk-breaking), assorting, and | | |sorting. | | |Accumulating involves bringing together similar stocks from different sources, while allocating involves breaking | | |larger quantities into smaller quantities. Assorting refers to building up a variety of different products for resale | | |to particular customers, while sorting out refers to separating products into grades and qualities desired by different| | |target markets. | |3 |Discuss some of the value-added activities that can be......

Words: 800 - Pages: 4

Free Essay

Analysis American Culture Value Through the Film the Pursuit of Happiness

...Analysis American culture value through the film The Pursuit of Happiness The reason why the Hollywood films are popular, besides its wonderful plots, the characters in the films could always reflect the special American cultural values to audiences. The American spirit such as individualism, heroism, religious and pursuit of freedom are all reflect in the Hollywood films. However, the American dream is a unique American culture and has inspired many Americans to rely on personal struggle to make their dreams come true. Films from different culture have their different cultural values, in turn, the different cultures have reflect and strengthen their own culture values in their films, so that audiences could get to know the mainstream American culture values from Hollywood films. Hollywood as the largest American film media has created many motivation films to express the importance values of American dreams to the world. The film The Pursuit of Happiness (2006) by Gabriele Muccino is a very classical Hollywood biographical film which is based on Chris Gardner’s life story. The film talks about how a homeless man success from the hardship and finally became a famous investment expert through his struggle step by step. The narrative of the main character Chris’s story refers to the key aspect of American Dream which is the equity opportunity of everyone in the society. It has showed the thought that happiness will come to everyone as long as we do not give up and make......

Words: 1615 - Pages: 7

Premium Essay

Adding Value Through Scm

...DB Forum 1 Adding Value through Supply Chain Management Dale Crowe Economic Theory of Adding Value through Supply Chain Management Young (2012) writes that supply chain management (SCM) is a function of collaborating firms working to improve operating efficiency and to leverage strategic positioning. In addition, Young references this function as not only the physical attributes of product distribution, but also to include related information, such as production or delivery status, and the capability to access such information. Such capabilities allow SCM to be an important link in fulfilling customer needs and providing value. Young adds that in the current customer-driven market, the perceived value of the entire relationship with a company has become most important to the customer; as the measurement of a company’s product and service qualities has progressed from internal quality assurance to external customer satisfaction to customer value. The complete SCM process and emphasis on added value is a reason customers choose one company’s product or service over another; as the entire range of product, services, and intangibles combined make up the perceived value of a company’s brand and image (Young, 2012). Customer value is important as it drives changes, improvements, and innovation. In a customer-driven market, companies need to differentiate themselves, as many cannot compete on price alone. Value-added offerings are a way that companies can separate......

Words: 1086 - Pages: 5

Premium Essay

Creating Value Through Best-in-Class Capital Allocation

...Measuring the Contributions of Brand to Shareholder Value (and How to Maintain or Increase Them) Creating Value Through Best-In-Class Capital Allocation 79 John Gerzema, Ed Lebar, and Anne Rivers, Young & Rubicam Brands 89 Marc Zenner, Tomer Berkovitz, and John H.S. Clark, J.P. Morgan Using Corporate Inflation Protected Securities to Hedge Interest Rate Risk 97 L. Dwayne Barney and Keith D. Harvey, Boise State University The Gain-Loss Spread: A New and Intuitive Measure of Risk Assessing the Value of Growth Option Synergies from Business Combinations and Testing for Goodwill Impairment: A Real Options Perspective 104 Javier Estrada, IESE Business School Francesco Baldi, LUISS Guido Carli University, and Lenos Trigeorgis, University of Cyprus 115 Creating Value Through Best-In-Class Capital Allocation1 by Marc Zenner, Tomer Berkovitz, and John H.S. Clark, J.P Morgan . uring the financial crisis that first began in 2007, corporate decision-makers were focused on liquidity and balance sheet strength. But with the economy showing sustainable signs of recovery, the emphasis is reverting back to capital allocation and value creation. When capital is scarce and expensive, an efficient capital allocation process is paramount. Inefficient capital allocation pressures the balance sheet and ultimately destroys shareholder value. In this report, we provide a comprehensive framework to examine shareholder value creation via capital allocation and......

Words: 5212 - Pages: 21

Premium Essay

Data Warehousing

...Data warehousing is a fairly new but not so new development in the information systems field. Data warehousing can be traced back being in existence since the 1980’s when Teradata in 1983 introduced a database management system (DBMS) designed for decision support systems (Ponniah, 2010). The influence from the two Irish IBM architects Barry Devlin and Paul Murphy who in 1988 laid the foundations for what we call today a data warehouse in their original article “An Architecture for a Business and Information Systems” (Bouman & van Dongen, 2009). It was not long after that Bill Inmon, referred to as the father of data warehousing authored one of the most influential decision support books “Building the Data Warehouse” in 1991(Ponniah, 2010). Since then Prism Solutions in 1991 introduced the Prism Warehouse Manager software for developing data warehouses. The Data Warehousing Institute was also founded 1995 and has and continues to promote data warehousing by way of serving as the leading voice in the business world providing education, research, and support (Ponniah, 2010). With the business environment being more global, competitive, multifaceted and unpredictable there is a need for systems that would satisfy emerging business needs and new technological advances (Wixom & Watson, 2001). The enterprise for enhanced customer relations and e-commerce alone these days require large integrated repositories and advanced analytical repositories (Wixom & Watson, 2001). Data......

Words: 1682 - Pages: 7

Free Essay

Creating Value Through Innovation

...National Chiao Tung University GMBA Program Global Technology Strategy McKinsey Quartely Creating value through Innovation Team Lolo - 9988542 Alfonso – 9988 Date: May 31, 2011 Summary Innovation, according to the article, involves the development of new products or processes and the knowledge that produces them and those new products can either take the form of high-level building blocks, midlevel intermediate goods and ground-level final products. The underlying knowledge for new products includes high-level general principles, midlevel technologies, and ground-level, context-specific rules of thumb but technological innovations, especially high-level ones, usually have limited economic or commercial importance unless complemented by lower-level innovations. The world that we live in facilitate the quick dissemination of knowledge and breakthroughs travel easily, but their national origins are fundamentally unimportant and the debate as to whether innovations or innovators make the greatest contribution to economic prosperity, is deemed as ‘not helpful’, because they all play necessary and complementary roles. The enhancement of research in China and India, and their share of ‘cutting-edge work’, will improve living standards in the United States, implying that other countries can benefit from the advances without them actually affecting the country’s economy. Many cross-border flows are important to innovators, namely, the dissemination of knowledge......

Words: 2536 - Pages: 11

Free Essay

Warehousing

...Warehousing plays a vital part in a logistics system. In the past, we always thought that warehouse is used for storage of inventories. In today’s quick response, the growth of warehouse not only serves for storage, but also for movement, information transfer and valued added services. A good warehouse space and layout planning is a primary element for efficient warehouse. Tompkins and Harmelink (2004, p.240) state the purposes of warehouse layout are space usage efficiency; allowing for efficient material handling; cost efficiency; maximum flexibility and good housekeeping. Successful warehouse layout could maximize space utilization, minimize and control movement and location, and provide safety and security environment. The first step in warehouse layout planning is to consider the space requirement. Tompkins et al. (1996, p.430) state space conservation, space limitations, accessibility and orderliness are some factors on designing layout. In layout planning, as space will be limited by floor loads, truss, the height of ceiling, etc, it should be maximized utilization of concentration and cube and also minimized honeycombing. To optimize space utilization, it is not only developed by horizontally but also by vertically. Space concentration and cube utilization can benefit for the flexibility and ability for bulky receipts such as higher and thicker materials. Tompkins and Smiths (1998, p.243) describe honeycombing is storage space losing due to improper use of......

Words: 295 - Pages: 2

Premium Essay

Economic Value Addition

...7 Economic Value Added (EVA) 7.1 What is EVA? • EVA ™ is a measure of performance similar to residual income, except the profit figure used is ECONOMIC profit and the capital employed figure used is ECONOMIC capital employed. This is because it is argued that the profit and capital employed figures quoted in the fillclncial statements do not give the true picture and that the accounting figures need to be adjusted to show the true underlying performance. • Th e bCl sic concept of EVA is that performance should be measured in terms of the value added during the period. It is a measure of performance that is directly linked to shareholder wealth. EVA calculation Net operating profit after tax (NOPAT) Less economic value of capital employed x WAee EVA Decision rule: accept the project if the EVA is positive. 7~ ~. VVh ~.t . !~..~.9..~~.r.~................................... 0 • • •••••••••• ••• • COlltrol'(lblePAT Add back non-cash items such as: 8ccollilting depreCiation n O fl-C Cls h expenses interest paid net of tax Add back items that add value such as: qoodwill 8mortisation development and advertising costs operating lease interest cost • ••• • •• • • • • •• ••••• • •• •• •••• • • • •• • x x X X x X X Deduct: econ o mic depreciation impairment to the value of goodwill amortisation of development and advertising costs =NOPAT......

Words: 1691 - Pages: 7

Premium Essay

Nestle Case Study- Creating Value Through Supply Chain

...              CREATING  SHARED  VALUE  IN  THE  SUPPLY  CHAIN-­‐     THE  NESTLE  COCOA  PLAN               SUBMITTED  BY:   KUSHAL  RAMESH   (001753444)   SUPPLY  CHAIN  MANAGEMENT  6210             CREATING  SHARED  VALUE  IN  THE  SUPPLY  CHAIN-­‐   THE  NESTLE  COCOA  PLAN       INTRODUCTION   Nestle   was   founded   in   1866   by   Henri   Nestle.   It   has   its   headquarters   in   Vevey,   Switzerland.   Nestle   is   today   the   world’s   leading   nutrition,   health   and   wellness   company.   Nestle   employs   339000   people   worldwide   and   has   442   factories   in   86   countries.   Nestle’s   products   include  baby   food,  bottled   water,  breakfast   cereals,  coffee  and  tea,  confectionery,  dairy   products,  ice  cream,  frozen  food,  pet  foods,  and  snacks.   Creating  Shared  Value:  Nestle  aims  to  create  value  for  society  and  shareholders  in  the  areas  where  the  company  can  have   the  biggest  impact-­‐  nutrition,  water  and  rural ......

Words: 1102 - Pages: 5

Premium Essay

Data Warehousing

...Data Warehousing Saikrishna Burugula IST 7000 Data Management Wilmington University Abstract A data storage could be a subject-oriented, integrated, time-variant, non-updateable assortment of knowledge utilized in business intelligence and support of organizing decision-making method (Inmon, Strauss & Neushloss, 2008). In data warehousing when the data is stored it is not updated, commonly data warehousing intended for evaluation connected with data source in addition to addressing queries it can be called copy of addressing data (Prabhu, 2002). The key intention with this paper is typically to target on the actual design connected with data warehouse in addition to modeling techniques like ER modeling and Dimensional modeling. Introduction A Data Warehouse is not just a new combination of all of the in business databases in an organization. Because of its attention on business intelligence, exterior data, and time variant information, a data warehouse is usually a special type of database. The good thing is, you should not learn another number of database abilities to do business with a new information storage place. Most data warehouses tend to be relational databases designed in many ways optimized pertaining to selection assistance, definitely not in business information running. Facts warehousing could be the procedure whereby organizations create and gaze after information...

Words: 1513 - Pages: 7

Premium Essay

Effective Application of 3p Is Operating Model Leads to Value Addition to Business

...Market competition, dynamic changes in technology, changes in legislation or regulation forces companies to add value to the stakeholders in order to exist in the market. In such a situation, Information Systems of a company is highly expected to add value to business. Business Value means all forms of value that determine the health and well-being of the business firm in the long run (WikiPedia). Such value addition is not easily or freely achieved without huge effective and efferent effort. Some IS organization often gives huge effort to achieve excellence or to add value to business by only aligning IS Strategy to Business or preparing IS strategic plan or adapting of any IS governance / management framework/ ISO standards like CoBIT5, ITIL 3, ISO 27000/ 20000. But such approach is NOT often enough for value addition where there is almost non-existance of IS governance or related operating model. That is why, KPMG rightly stated “Many organizations either do not possess any form of IS Governance or it is out of alignment with business goals and strategies.” – IT Advisory article titled IS Governance Services, KPMG 2004. I have similar personal realization while I fortunately worked in 6 different organizations as CIO, VP, Director and Manager of IT in Telecommunication, IT Enabled services and Humanitarian industries. I observed that there are 3 types of enablers (factors that, individually and collectively, influence whether something will work – Cobit5: A......

Words: 802 - Pages: 4

Free Essay

Aj+: Creating Customer Value Through Active Audience

...AJ+:  Creating  Customer  Value  Through  Active  Audience   Engagement         Engagement  is  in  our  DNA.     -­‐ Raja  Sharief,  AJ+  Strategy  Implementation   Manager       The  Reflective  Mindset:  Changing  Trends  in  the  News  Media  Industry     Al  Jazeera,  along  with  other  traditional  news  broadcasters,  is  currently   navigating  through  an  industry  being  disrupted  and  redefined.    Pew  Research   suggested  that  by  2018,  the  preferred  medium  for  interfacing  with  news  will  be   overwhelming  digital  in  nature  through  social  media,  mobile,  and  web-­‐based   interaction  with  increased  content  personalization  with  TV-­‐based  consumption   fadingi.    Additionally,  like  its  sister-­‐industry,  the  Print  News  Media,  Broadcast   news  is  being  challenged  by  non-­‐traditional  players  in  this  space,  what  are  being   termed  “digital  natives”,  including  digital  entrepreneurs  such  as  Amazon’s  Jeff   Bezos  and  Ebay’s  Pierre  Omidyar  and  more  traditional  digital  native  news ......

Words: 3504 - Pages: 15

Premium Essay

Creating Customer Relationships & Value Through Marketing

...business. In today's customer relationship era, organizations focus their efforts on (a) continuously collecting information about customers' needs, (b) sharing this information across departments, and (c) using it to create customer value. The first objective in maintaining customer relationship is discovering the needs of prospective consumers. This is not an easy task because consumers may not always know or be able to describe what they need and want. A need occurs when a person feels physiologically deprived of basic necessities such as food, clothing, and shelter. A want is a felt need that is shaped by a person's knowledge, culture, and personality. Effective marketing can clearly shape a person's wants and tries to influence what we buy. Having selected its target market consumers, the organization then takes action to satisfy their needs by developing a unique marketing program to reach them. Thus, the essence of successful marketing is to provide sufficient value to gain loyal, long-term customers. Customer value is the unique combination of benefits received by targeted buyers that usually includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service. Marketers do this by using one of three value strategies: best price, best product, or best service and this is how a strong customer relationship is achieved. One marketing standard chronology (Bartels, 1974;Dawson, 1969;Keith, 1960; Kotler and Keller, 2006) subdivides......

Words: 795 - Pages: 4

Premium Essay

Value Addition on Heinz

...LETTER OF SUBMISSION    2nd April , 2012 Abul Khair Jyote, Lecturer, Marketing Dept. School of Business. Independent University, Bangladesh. Subject: Submission of the report on “Value addition”.  Sir, With due respect and honor, we the students of your respective subject Advanced Marketing Management ( MKT – 302 ) and the members of group “Black Hawk”, made a report on “Value addition to Heinz Ketchup” with some information and necessary records. In this report the data and information we collected, we tried our best to make it meaningful and clear. In this report, whatever we experienced, we believe that it will help us in future. We are very happy to submit this report to you successfully.  We therefore pray and hope that you will be kind enough to receive our report and hope it will satisfy you.  Thank you Sir. Yours sincerely,   NAME                                          ID                                   SIGNATURE 1. Tawsif Bin Maksud. 0910374 2. Kaptia Mumtahana. 0910330 1. Executive Summary: [pic] “To do a common thing uncommonly well brings success.” —Henry J. Heinz. The H.J. Heinz Company, headquartered in Pittsburgh, Pennsylvania, is the most global of all U.S.-based food companies. Famous for our iconic brands on six continents, Heinz......

Words: 4786 - Pages: 20

Can You Ever Forgive Me? French Film Torrent BRrip 720p | 123Movies.io | Temporada 11