What is a strategic fit in supply chain?

Strategic Fit may be defined as matching resources and capabilities but in Procurement it means requiring that both the competitive and supply chain strategies of a company have aligned goals. To provide the highest level of service as a procurement organization, strategic fit must be achieved.

What are the strategies of supply chain management?

Eight best practices for managing the supply chain.

1. Start with strategy, but be practical.
2. Manage the entire supply chain with a focus on the customer.
3. Get on the CEO’s agenda.
4. Control trade-offs between cost and service.
5. Ensure that key stakeholders communicate.
6. Be smart about customization.

What is strategic fit in supply chain PDF?

◆ Strategic fit: –Consistency between customer priorities of competitive. strategy and supply chain capabilities specified by the. supply chain strategy. –Competitive and supply chain strategies have the same.

What are the four types of supply chain strategy?

What are the components of your supply chain you should be focusing on right now?

• INTEGRATION. Integration starts at your strategic planning phase and is critical throughout your communications and information sharing and data analysis and storage.
• OPERATIONS.
• PURCHASING.
• DISTRIBUTION.

What is strategic fit in strategic management?

Strategic fit expresses the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment. The matching takes place through strategy and it is therefore vital that the company has the actual resources and capabilities to execute and support the strategy.

What happens if there is not a strategic fit?

Lack of Objectives Without a coherent strategy, your company does not have identifiable business objectives. Your company lacks the focus needed to achieve corporate goals and develop plans that will move the company forward. A lack of objectives means that your company does not have a clear vision for the future.

What is strategic supply?

The strategic supply chain processes that management has to decide upon will cover the breadth of the supply chain. These include product development, customers, manufacturing, vendors, and logistics.

What is the strategic importance of supply chain management?

But having a supply chain strategy helps companies know how to work with their products’ distributors and vendors to improve operational efficiencies and drive down costs—and that can help enable profitable growth.

How do I get strategic fit?

To achieve strategic fit, a company must first understand the needs of the customers being served understand the uncertainty of the supply chain and identify the implied uncertainty. The second step is to understand the supply chain‟s capabilities in terms of efficiency and responsiveness.

What does a company need to do to achieve strategic fit between the supply chain and competitive strategies?

Understanding the supply chain capabilities

1. Respond to wide ranges of quantities demanded.
2. Meet short lead times.
3. Handle a large variety of products.
4. Build a highly innovative level.
5. Handle supply uncertainty.

What are supply strategies?

Supply strategy relates to the integration of supply activities within firms, in dyadic relationships, in chains of firms and in inter‐organisational networks. These have been expressed as different systems levels of supply (Harland, 1996a) as shown in Figure 2.

How do you identify strategic fit?

A strategic fit is defined as “a situation that occurs when a specific project, target company, or product is seen as appropriate with respect to an organization’s overall objectives.” Most executives seeking to expand their company through a merger or acquisition will look for another company that makes a good …

How to achieve a strategic fit between supply chain and competitive strategies?

A company needs to take some steps to achieve a strategic fit between the supply chain and competitive strategies. These strategies may be implicated or explicated or one or more customer segments. So that the company can satisfy these segments.

How can a company achieve a strategic fit with its customers?

Each customer in particular segment has similar needs and in a different segment has different needs. However, our key goal is to identify the main measure that can satisfy their different needs. Through this way, a company is able to achieve a strategic fit. Here, many types of supply chains are designed for performing different tasks quickly.

Why is supply chain design important for a business?

Through this way, a company is able to achieve a strategic fit. Here, many types of supply chains are designed for performing different tasks quickly. That’s why a company needs to understand its supply chain design well.

What is strategic fit (SF)?

There is Strategic Fit (SF) when the competitive business strategy and the supply chain strategy have aligned goals. This Systematic Literature Review aims to reveal important antecedents of Strategic Fit (SF) over the period 2007-2011. Peer reviewed papers have been analysed to search for antecedents, trends and gaps in studies on SF.