Answer: Regal Marine expects continuous innovation and high quality performance to ensure that the final goods and services reach customer satisfaction. The members of the supply chain expect that the expectations of Regal Marine transfer into a chain of suppliers that focuses on maximizing value and quality. They can expect loyalty from Regal, and the suppliers can gain prestige by representing the high-quality products which Regal Marine produces, which can result in profit margins.
Suppliers can also largely benefit from economies of scale and learning curves, reducing the production cost. 3. Why is supply chain management important to Regal Marine? Answer: Supply chain management is about integration of activities that procure materials and services and transform them into the final product of the company. Supply-chain management enables Regal Marine to compete in a multibillion-dollar industry, and helps it to differentiate its products from competitors (e. g. rocure materials and services, transforming them into intermediate goods and final products, and delivering the final products through a distribution system).
As Regal Marine spends a large portion of its revenue on purchases, supply-chain management provides the company with the opportunity to work on closer long-term strategic relationship with key suppliers. Supply-chain management allows Regal Marine to increase its competitiveness via product customization, high quality, cost reduction and speed to market.
The Essay on Strategy At Regal Marine
Regal Marine, one of the U.S.’s 10 largest power-boat manufacturers, achieves its mission ―providing luxury performance boats to customers worldwide―using the strategy of differentiation. It differentiates its products through constant innovation, unique features, and high quality. Increasing sales at the Orlando, Florida, family-owned firm suggest that the strategy is working. As a quality boat ...
Therefore, as a result, Regal Marine has been able to reduce costs while improving quality, responsiveness and innovation. Thus, its effective and efficient supply-chain management enables Regal Marine to differentiate its products through quality, innovation, unique features, up-to-date technology and responsiveness. Regal Marine’s innovative approach to supply-chain management not only benefits the company but the end user as well.
