In today’s competitive and uncertain market supply chain is becoming more and more complex due to global sourcing and priority has been placed on addressing the various challenges associated with supply chain risks and developing mitigation strategies against vulnerability.
Based on the above statement, you are asked to choose a multinational enterprise and critically discuss: (i) how it manages its global supply chain including any decisions for low-cost country sourcing (ii) what are the areas of concern of supply chain risk and associated mitigation strategy (iii) how the utilisation of new technologies (e.g. big data analytics or Internet of Things, 3D Printing) can create more resilient supply chains.
Walmart is a corporation that Sam Walton established in 1962, as a small retailer firm. Over the years, the organization has expanded to become one of the major business enterprises in the United States. It is described as a retailer organization that is divided into three major stores; hypermarkets, groceries and discount departments. Currently, the corporation has managed to create more than 11,695 stores that are located in 28 different countries around the world. It uses the stores to supply its products and services to the customers that are located in various countries. In so doing, the company has managed to expand its market coverage and increase its sales since its formation. In 1972, the enterprise was listed on the New York Stock Exchange, and by 1988, it had developed to become one of the most profitable organizations in the United States (Chekwa, Martin, and Wells 2014, p. 13). The company has over two million workers worldwide. Every year, it hires and recruits new workers to assist it in the management, marketing, and sales processes. By considering its revenue generation and the number of employees employed, it is currently the largest retailer shop in the world as recognized by Forbes. For instance, in 2015, its total revenue collection was more than $485 billion, which is far much higher than what most companies make in their fiscal years. However, the success of the firm can be attributed to its strategic management, which aims to achieve its mission and vision statements. Thus, its corporate structure and operation are all aligned with the vision statement, which helps it to have a higher competitive advantage in the market. Walmart has a global supply chain through its many chain stores, which have impacted positively to its growth. It has different strategies that it has applied to manage the global chains. Similarly, the company utilizes technology to enhance and create a more resilient supply chain around the world (Chekwa, Martin, and Wells 2014, p. 14).
The company’s mission is “Saving people money so they can live better.”
Most of the company’s strategic decisions directly determine the mission statement. The company has also developed a synonym slogan from the mission statement that states “save money. Live better.” It follows that while offering quality goods and services to people, the company also helps them save money and reduce their total expenditure. Consumers are motivated to visit and shop at the stores. The “Live better” part comes regarding quality products and prompts payment of workers for their services in the company. In so doing, every person’s interests are taken into consideration, and thus, the mission statement is fulfilled. The company’s vision is…