MGMT3099 Study Guide - Midterm Guide: Cross-Docking, Vertical Integration, Walmart

• School: Boston College
• Department: Management & Organization
• Course: MGMT3099
• Professor: Jeremiah Potts

Document Summary

Adding value is all relative - must look at industry and competitors. Mission statement very broad and simple: insurance give protection. Values create culture and how you hire: google like innovation, creativity, improving lives. Vision what do you want to be. Strategy competitive game-plan: objective must be specific, measurable, scope , advantage. Merrill lynch: all products, high wealth people, trained specialists. Wells fargo: bank is most important, broker is replacable. Procurement: retail link to improve communication and reduce transaction costs, strategically build supplier factories. Distribution: large network with many warehouses, own a trucking fleet, vertical integration, hub and spoke, cross docking, little inventory. Merchandising: high sales per square foot by offering a broad assortment of merchandise at consistently low prices in cheap but cheerful stores, mcaps. Pricing: price check, rollback, store managers can beat local prices. Marketing: low costs, charity events, in store tvs, non traditional.