Smart Chips Company
In value chain management, Porter's six steps help ensure cost reduction throughout the production line and ultimately reduce product prices. To achieve this, Smart Chips Company should invest in human resources and technology for long-term success. In addition, reducing development time for new products is essential to stay competitive in the fast-paced microchip industry.
To further gain an advantage, Smart Chips should alter its networks, pay extra attention to research and development, and seek patent protection for products to hinder rivals from cloning microchips. Analyzing the manufacturing process
...is important to find cost-increasing factors, and increasing supply orders lowers transportation and order costs while inventory should be expanded. Finally, giving employees benefits improves motivation for better results while avoiding price wars with rivals. (McCoy, 2009)
According to Stephen P. Robbins (2006), needlessly turning products into commodities can occur. By implementing the steps in microchip chain management, the Smart Chip Company can remain a leading player in the industry. Additional information can be found in McCoy's (2009) presentation on ABC Microchip Company retrieved from Slide Share on May 22, 2010. Robbins and Coulter's (2006) book, Management, is also a helpful resource for understanding these concepts.
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