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In different organizations business operations are common from conversion of raw material to finished goods. In current work Four VS analysis, performance objectives and design of the firm is done and objectives are analyzed.
Four VS analysis:
In business operations in order to manufacture products or provide services varied things are used by the business firms like land, labor, capital, machinery, raw material etc. Four Vs analysis have four components namely volume, variety, variation and visibility. If any company produces goods in large quantity then in that case it has specialized in production of that product (Christopher, 2016). In the same way, if multiple varieties of products are produced then in that case’s firm can serve the needs of varied customers. Thus, four Vs analysis have due importance as it assist firms in analyzing its business on multiple parameters. Below Four Vs is given by using which two firms will be analyzed in below given sections.
• Volume: It states that if firm produce goods in large volume, then in that case it comes in the position where economies of scale can be generated in the business. This lead to lower cost per unit in the business and increased efficiency in productions of goods in the workplace.
• Variety: This dimension is used to identify a variety of products, company offer to its customers than rivals (Monczka and et.al., 2015). More variety means more flexibility and more options company is providing to its customers.
• Variation: It refers to the actual time any company takes to produce goods or to deliver services to customers. Business firms need to take appropriate decisions in respect to pricing policy and minimizing costs in the business (The Four V’s. 2017).
• Visibility: It refers to a customers’ ability to see, track their experience or order through the operations process. Higher visibility is seen in the case of courier companies where one can easily track delivery stage on mobile app.
Recommendation:
It is recommended that the company must expand its business in the Indian market where different weather conditions are observed in different parts of the nation. The Indian market is largely untapped market and due to this reason by exploring opportunity firm can easily develop its market in India. By promoting the farming of coffee in India firm can get coffee at a low price as coffee beans will be grown in the Indian market and supplied directly to the Starbucks premises that are located in varied cities. Due to lower transportation cost firm will be able to make available coffee at low price in the Indian market. There will be two benefits of this strategy one is that Starbucks will be able to expand its supply chain network and will be able to capture the Indian market (Saenz. and et.al., 2015).
Second recommendation is that Starbucks must create awareness among farmers about ways in which they must grow coffee. By doing so impact of climate change on coffee can be reduced to some extent. The warehouse must be developed where c
offee beans can be stored in a particular temperature in order to avoid degradation in the quality of coffee beans.
Third recommendation is that firm must adopt some unique ways to generate economies of scale in the business because by doing so it can reduce the coffee price and will be able to target medium income group of people.
Conclusion:
It is concluded that Starbucks is in leading position in the industry, but it is facing some issues such as Climate change and its impact on coffee bean quality. Further, rivals of the company are also providing better quality of coffee at lowest price to their customers which are another concern for the company. Firm need to extend its supply chain and must include areas where there is congenial environment to grow coffee. The firm can procure coffee beans from those areas and serve coffee in the same country or nearby nations. This will help company to sell its products at low or moderate price coffee can be provided to the customers. Starbucks has a wide supply chain network which is company’s major strength but it must be further improved in the business.
Reference
Books and Journals
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Christopher, M. 2016. Logistics & supply chain management. Pearson UK.
Dubey, R. and et.al., 2017. Sustainable supply chain management: framework and further research directions. Journal of Cleaner Production. 142. 1119-1130.
Fahimnia, B., Sarkis, J.. and Davarzani, H. 2015. Green supply chain management: A review and bibliometric analysis. International Journal of Production Economics. 162. 101-114.
Fredendall, L. D.. and Hill, E. 2016. Basics of supply chain management. CRC Press.
Genovese, A. and et.al., 2017. Sustainable supply chain management and the transition towards a circular economy: Evidence and some applications. Omega. 66. 344-357.
Hugos, M. H. 2018. Essentials of supply chain management. John Wiley & Sons.
Jabbour, C. J. C.. and de Sousa Jabbour, A. B. L. 2016. Green human resource management and green supply chain management: Linking two emerging agendas. Journal of Cleaner Production. 112. 1824-1833.
Kshetri, N. 2018. 1 Blockchain’s roles in meeting key supply chain management objectives. International Journal of Information Management. 39. 80-89.
Mangan, J.. and Lalwani, C. 2016. Global logistics and supply chain management. John Wiley & Sons.
Meredith, J. R.. and Shafer, S. M. 2019. Operations and supply chain management for MBAs. Wiley.
Monczka, R. M. and et.al., 2015. Purchasing and supply chain management. Cengage Learning.
Saenz, M. J. and et.al., 2015. Theories in sustainable supply chain management: a structured literature review. International Journal of Physical Distribution & Logistics Management.
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