IKEA has achieved excellence through effective supply chain management and a focus on customer satisfaction. Key metrics include inventory levels, working capital, costs, quality, and innovation. IKEA uses large warehouses to hold over 9,500 products at low prices. It focuses on minimizing product touches to reduce costs by using self-service and flat-packed furniture. IKEA also promotes design through competitions and works to ensure quality standards are met by suppliers. Overall, IKEA's supply chain performance has contributed significantly to its global success.
This paper discusses IKEA’s corporate and business level strategy and how these strategies are best supported by operations strategies of IKEA. It also discusses how IKEA differentiated itself from its competitors. Paper highlights various operational trade-offs done by company. Paper, on later stage focuses on how supply network contributed to achieving company’s objectives and strategies.
IKEA is a Swedish multinational group of companies that designs and sells ready-to-assemble furniture (such as beds, chairs and desks), appliances and home accessories. It has been the world's largest furniture retailer since at least 2008.
This paper discusses IKEA’s corporate and business level strategy and how these strategies are best supported by operations strategies of IKEA. It also discusses how IKEA differentiated itself from its competitors. Paper highlights various operational trade-offs done by company. Paper, on later stage focuses on how supply network contributed to achieving company’s objectives and strategies.
IKEA is a Swedish multinational group of companies that designs and sells ready-to-assemble furniture (such as beds, chairs and desks), appliances and home accessories. It has been the world's largest furniture retailer since at least 2008.
IKEA - Brand Management
An Overview of what is in the IKEA store as you turn the pages. . .
Intro
Origin & Genesis
History & Last Decade
Business !dea
Structure and Corporate Management
Brand Portfolio with STP and Consumer Activations
IKEA and inter-market segmentation
4Ps & core competency
AD agencies and Strategic Brand Campaigns
Market Environment (Sectoral and Industrial Analysis)
IKEA value chain
PEST analysis
Porter's 6 forces
S.W.O.T.
TOWS metrics
Competitor Analysis
Industry Analysis
Costing and Pricing analysis of brand portfolio
Consumer Behavior & Brand Ambassadors
Brand repositioning campaigns
Rationalized improvement plan
Future of IKEA
Alternate options for IKEA
IKEA Trivia
IKEA Advertisements all over and AugmentedReality/QR content
The presentation analyses IKEA's Business Model as a cost leadership. How can IKEA win over other furniture competitors to become one of leading companies and distribute their products all over all world ? Let's take a quick look
Comparison of Marketing Mix of IKEA in Four CountriesFatima Arshad
Report Contains Marketing Mix of IKEA. In this report there is comparison of 4Ps of IKEA in Four Countries i.e Sweden, UK, China and India.
This report is result of the efforts of four people.
The project analyses the importance of branding for Ikea and can help us to find out about IKEA's SWOT analysis and the STP process for Ikea. It also gives information on Ikea's Vision and Mission and Ikea's Marketing Mix, Ikea's Pestle Analysis, Ikea's Five Forces Model, Ikea's History and Ikea's Products and Services.
IKEA - Brand Management
An Overview of what is in the IKEA store as you turn the pages. . .
Intro
Origin & Genesis
History & Last Decade
Business !dea
Structure and Corporate Management
Brand Portfolio with STP and Consumer Activations
IKEA and inter-market segmentation
4Ps & core competency
AD agencies and Strategic Brand Campaigns
Market Environment (Sectoral and Industrial Analysis)
IKEA value chain
PEST analysis
Porter's 6 forces
S.W.O.T.
TOWS metrics
Competitor Analysis
Industry Analysis
Costing and Pricing analysis of brand portfolio
Consumer Behavior & Brand Ambassadors
Brand repositioning campaigns
Rationalized improvement plan
Future of IKEA
Alternate options for IKEA
IKEA Trivia
IKEA Advertisements all over and AugmentedReality/QR content
The presentation analyses IKEA's Business Model as a cost leadership. How can IKEA win over other furniture competitors to become one of leading companies and distribute their products all over all world ? Let's take a quick look
Comparison of Marketing Mix of IKEA in Four CountriesFatima Arshad
Report Contains Marketing Mix of IKEA. In this report there is comparison of 4Ps of IKEA in Four Countries i.e Sweden, UK, China and India.
This report is result of the efforts of four people.
The project analyses the importance of branding for Ikea and can help us to find out about IKEA's SWOT analysis and the STP process for Ikea. It also gives information on Ikea's Vision and Mission and Ikea's Marketing Mix, Ikea's Pestle Analysis, Ikea's Five Forces Model, Ikea's History and Ikea's Products and Services.
Analyzing Supply Chain activities in IKEA.
Study group in SCM Class
By: Alex, Arian, Yash, Jenny, Roddy, and Sheby
An International group study from Taiwan, German, Indonesia, India, and Vietnam.
IMBA CLASS. National Kaohsiung University of Science and Technology.
This report express you the service marketing strategies used by the IKEA, the furniture franchiser to be success. This covers the scope of the business, strategies used by them and final conclusion about their strategies. I suggest you to read about the entrepreneur's life story as it is an inspirational story to all others who have big dreams with their lives.
This case study is about a multinational company which sells ready to assemble furniture and home accessories. According to the economics records as at 2008 this is the world largest furniture retailer. (Forbes, 2013)
This report describes about the main strategies which IKEA use to approach to different markets with different consumers and with them IKEA has evolved into the largest furniture retailer in the world with approximately 300 stores in 38 countries and revenues topping $21.5 billion in 2009. Its top countries in terms of sales include Germany, 16 percent; United States, 11 percent; France, 10 percent; United Kingdom, 7 percent; and Italy, 7 percent. (Business week, 2005)
According to the final decision IKEA has made a different way of shop for furniture with the time develops and it has reach to the expectations of its customers according to their expectations.
Finally, in the conclusion of the report shows the final view of the researcher about the finding regarding to the IKEA strategies throughout the research and final judgment which make about the given case.
Q1: What was the source of IKEA’s Competetive advantage at that time?
Q.2 IKEA’s expansion into Europe
Q.3 IKEA’s strategy prior to its missteps in North America.
Q4. IKEA’s strategy towards its suppliers
Assignment on Case- IKEA: DESIGN AND PRICINGanonymous
SUMMARY / BACKGROUND OF THE CASE
IKEA Swedish retailer
Dominates markets in 32 countries.
Corporate Mantra: “Low price with the meaning”
Good quality at a low price.
30-50% below competitors
Last 4 years – Retail prices reduced by 20%
Global Strategy andOrganizationGlobal Strategy andOrgani.docxwhittemorelucilla
Global Strategy and
Organization
Global Strategy and
Organization
c h a p t e r
Learning Objectives
In this chapter, you will
learn about:
> IKEA’s Global Strategy
Furniture retailer IKEA is a Swedish company that has transformed itself into a
global organization over the past three decades. Ingvar Kamprad founded the firm
in Sweden in 1943 when he was 17 years old. IKEA originally sold pens, picture
frames, jewelry, and nylon stockings—any product that Kamprad could sell at a low
price. In 1950, IKEA began selling furniture and housewares. In the 1970s, the
company began expanding into Europe and North America. IKEA’s philosophy is to
offer quality, well-designed furnishings at low prices. The company designs “knock-
down” furniture that the customer purchases and then assembles at home. Designs
implement functional, utilitarian, and space-saving features, with a distinctive Scan-
dinavian style.
IKEA Group sales for the fiscal year 2006 totaled 17.3 billion euros, mak-
ing IKEA the largest furniture retailer in the world. Its stores, usually located in
major cities, are mammoth, warehouse-style outlets, with each stocking approxi-
mately 9,500 items, including everything for the home—from sofas to plants to
kitchen utensils.
IKEA is now owned by a Dutch-registered foundation controlled by the Kam-
prad family. Its corporate offices are in the Netherlands, Sweden, and Belgium.
11
312
1. The role of strategy in
international business
2. The integration-responsiveness
framework
3. Distinct strategies emerging
from the integration-
responsiveness framework
4. Organizational structure
5. Alternative organizational
arrangements for international
operations
6. Building the global firm
7. Putting organizational change in
motion
CAVUMC11_312-343hr 10/15/07 11:26 AM Page 312
Product development, purchasing, and warehousing are concentrated in Sweden.
Headquarters designs and develops IKEA’s global product line and branding, often
in close collaboration with external suppliers. Approximately 30 percent of the mer-
chandise is made in Asia, and two-thirds in Europe. A few items are sourced in
North America to address the specific needs of that market, but 90 percent of IKEA’s
product line is identical worldwide. Managers at IKEA stores feed market research
back to headquarters in Sweden on sales and customer preferences.
IKEA targets people all over the world, with a focus on families with limited
income and limited living space. This global segment is characterized by liberal-
minded, well-educated, white-collar people—including college students—who care
little about status and view foreign products positively. Targeting a global customer
segment allows IKEA to offer standardized products at uniform prices, a strategy
that minimizes the costs of international operations. IKEA seeks scale economies by
consolidating worldwide design, purchasing, and manufacturing. It distinguishes
itself from conventional furniture makers that s ...
This case is derived from the London Times site for Business Teach.docxchristalgrieg
This case is derived from the London Times site for Business Teachers. The case provides a detailed description of a real-life business problem, the solution that was implemented, and the impact that this solution had on the business. Each student will prepare a 6-8 page paper with the following sections:
· Abstract: Summary of the entire paper in a single paragraph.
· Background: Summary of the problem situation covered in the case
·
Solution
: Summary of the solution that was implemented (actions taken by the business).
· How does the case relate to the course content? (Refer specifically to textbook references in this portion and include three excel charts.)
· Conclusion: What conclusions can be drawn from this case study? (This portion should include independent analysis and indicate an ability to draw general principles from a specific example.)
· All papers must be typed, no handwritten papers.
· All papers must have your name, date and title
· Proper APA format
· https://owl.english.purdue.edu/owl/resource/560/01/
Introduction
It is easy to think about the present without considering the future. Consumers want more
goods and services to improve their standard of living. The problem is they make choices
about goods and services that have long-term consequences for the environment. In our
modern world, organisations need to show responsibility. This means that they use resources
efficiently, do not harm the environment and consider how what they do affects the ability of
future generations to meet their needs.
IKEA aims to be a responsible organisation. It sells low-price home furnishing products
around the world. These include furniture and accessories for kitchens, bedrooms, living
rooms, bathrooms and children’s rooms. IKEA now has stores in 36 countries around the
world. It has come a long way in its 60 years of business.
The direction for the organisation is provided by its vision. This acts as a guide for
everybody within and outside the organisation about what IKEA wants to achieve. IKEA’s
vision is ‘To create a better everyday life for the many people.’ To meet this vision IKEA
provides many well-designed, functional products for the home. It prices its products low so
that as many people as possible can afford to buy them.
However, in creating low prices IKEA is not willing to sacrifice its principles. ‘Low price but
not at any price’ is what IKEA says. This means it wants its business to be sustainable.
IKEA supplies goods and services to individuals in a way that has an overall beneficial effect on
people and the environment. Customers all over the world have responded positively to IKEA’s
approach. This is evident in its increasing sales. In 2006 IKEA had a group turnover of nearly
18 billion euros.
81
Building a sustainable supply chain
www.thetimes100.co.uk
IK
E
A
CURRICULUM TOPICS
• Supply chain
• Primary sector of industry
• Secondary sector of industry
• Tertiary sector of industry
GLOSSARY
Vision: the s ...
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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1. IKEA SUPPLY CHAIN PERFOMANCE METRICS
Introduction.
The study investigate how Swedish company (IKEA) in different sectors of economy defines
an excellent. It highlights that IKEA Company derives its excellence majorly by supply chain
management, performance measurement and customer satisfaction. The most common supply
chain metrics include inventory, working capital, time, cost reduction, quality, flexibility and
innovativeness.
Inventory
The world biggest home furnishing retailer has 298 stores in more than 30 countries. It is
ranked at number 41 in Forbes esteemed world most valuable brand list. It took in 35.5
billion sales in 2013. IKEA has enjoyed tremendous business in 60 years since its
establishment in 1943 in Sweden.
Each IKEA warehouse is huge and hold over 9,500 products. The company offer at such low
prices and at the same time being able to stock items has been guided by some factors. To
start off IKEA has clear vision of provision of well-designed, functional home furnishing
items at constantly lower prices so as many consumers as possible can purchase it. There is
great deal of cooperation between supply chain operators and inventory management in
supporting distinctive value proposition.
IKEA also relies on in-store logistics, something unique and seldom concerning its logistical
approach of reordering products. The logistic personnel is tasked with handling inventory
management at it stores. According to Steve Banker, ARC advisory group and logistic
viewpoint, there is an in-store logistic manager responsible for material handling logistics in
all IKEA warehouses.
The activities of logistic personnel is to supervise and record deliveries, accurately check
delivery notices, sort and separate good and get them to off to correct sales areas. Generally
there ensure smooth flow of goods within IKEA stores, which is significant in keeping high
capacity of sales thus boosting consumers loyalty.
Working capital
According to Divya Kumar, Deputy CEO IKEA Company India, working capital approach
has unchained itself from controller’s desk and landed to the CEO’S office after financial
crisis. This trend is attributed to both the internal and external factors. With revenue in most
industrial sectors harder to be realised post global downturn, institution have begun sourcing
internal ways of generating cash. Working capital has become a significant tool for releasing
money to fund growth and expansion. In addition, as globalisation set in, the outcomes of
each of this working capital is being keenly felt. Working capital management, planning and
analytics have become continuous activity with visibility at its peak.
According to CEO, business unit reviews are largely including levers of working capital as
metrics. This is pulling down to many arms of the enterprise-operation, sales, supply chain,
procurement, IT and quality control which are being briefed on implications of their
processes and action on the cash flow of the enterprise.
2. Cost reduction.
IKEA Company have embraced cost-per touch methodology. This is whereby the customers
select the furniture and retrieve the packages for themselves. As a rule of thumb, companies
find out that the more the hands touching the product the greater its price.
For example, when a customer select a set of furniture to buy, the item is then ordered,
moved from manufacture, shipped from a delivery truck and moved into storage warehouse,
moved from warehouse to consumer’s vehicle or delivered to consumers home. Every time
an item is displaced, it incur cost. The fewer times someone touches or moved an item is
directly proportional to the cost associated with it. IKEA save on cost with this guiding
philosophy to minimize touches because it doesn’t have to pay customer to retrieve the
furniture and take it away.
The company aimed at the consumers who want value of goods at relatively lower prices but
are willing to do a bit of work. This is achieve through;
In place of sales agents attending consumers, IKEA uses self- services technique cited
on clear in store displays
Rather than relying on third party manufacturers, IKEA modelled it on cheap ,ready
to assemble furniture
Products are availed to consumers in a flat-packed form, which results in wide range
of supply chain contribution. The flat-package minimizes on shipping cost, storing,
construction and assembling. Furthermore, it facilitate maximum transportation index
and storage.
Innovative designs
IKEA concentrates on promoting design simulation through internal competition and a huge
network platforms forums of freelancers and 9 staff aesthetic designers. Freelance designing
enables a huge degree of flexibility and important source of creativity. The platforms of
freelance designers and the wide scope of professional’s expertise provides utmost greater
design creativity which IKEA illustrates in its furniture. IKEA designers established
innovative designs and numerous functionalities to the consumer. They also focus on using
materials effectively without impairing its structure and quality.
Similarly, analyst Warren Shoulberg, wrote on industry website The Robin Report.
‘There is perhaps no other retailer on the planet that has moved it basic model into so
many places with so much success,’ Shoulberg writes.
According to Shoulberg IKE`s resonates with young people, the products are clean, with
usual aesthetics. With an elaborate showroom and cafeteria, IKEA has become one of its kind
destination to shoppers. It is a standalone premise that consumers seek out with specific goal
in mind. No human congestion. “There is no mistaking why you are there” Shoulberg
concludes.
3. Quality
At the IKEA there exist Quality Compliance Standard (GO/NOGO). The Quality Compliance
Standard must be put into practise in order to become a IKEA supplier. It secures that all
IKEA suppliers are in harmony and qualify all the IKEA blueprints, work adequately to curb
the quality and secures compliance of IKEA articles.
In GO/NOGO requirements, the IKEA supplier shall produce a documented guideline
including how the rules are secured for each GO/NOGO obligation it include;
a) The IKEA supplier should secure that all items are produced accordingly, and meet
documentation as advanced by IKEA or otherwise agrees with IKEA by writing.
b) The supplier shall register, structure and maintain all verification documents and
information required by IKEA product documentation
c) IKEA supplier shall secure that special process control is implemented at its
production unit as well as special process appendices
d) IKEA supplier shall perform final inspection as agreed in writing between the
concerns. The detailed contents of final inspection as well as IKEA quality key
performance indicators. Among are;
Inspection method
Sampling plan
Acceptance criteria
Conclusion
Undoubtedly, IKEA supply chain performance metrics has seen the company scaling to
greater heights in global market and in the overall success of IKEA as a home of furnishing
Retail Company.
4. References
1. Kelly, S, (2010). Written Examination Stimulus Material Case Study- IKEA.
2. Ocika, B, & Wieteska, G. (2017) Sharing Economy in Logistic and Supply Chain
Management.
3.