This assignment sample is from one of our client from cost accounting field. We hope this sample helps you in doing your assignment. This assignment covers a report about a manfucturing company. The topics covered are given in the list below:
Write a report about the manufacturing company of any country. The company chosen is ABB company. Write about value chain of the company and the process of planning in the manufacturing company in 540 words
Value chain of ABB Company
Product Design stage
From the above diagram on Value Chain, it is quite evident to find out that this stage requires minimum outsourcing to third parties. ABB Company has already built up internal support systems for maintaining relations with the government so they can handle licenses, visas and permits. The nature of product development offered by ABB Company need that technological as well as design research should be taking place with affiliates. It is needed for market research that includes regular surveys as well as focused group discussions that can be further outsourced to third parties (Porter & Kramer, 2018).
In this stage, all of ABB Company raw inputs are imported from different economies. Even, there need proper paperwork that links with importation of raw materials such as procurement transactions as well as customs coordination. It is a known fact that logistics services work together to bring in raw materials that are further procured from different sources.
At this stage, ABB Company would be taking help from external suppliers. To this, most of the services are even required for daily operations of the factory as well as other manufacturing facilities such as warehousing, equipment maintenance and administration of production.
In this stage, after the products are being manufactured, ABB Company makes them ready for packaging and delivery. This company even provides inputs especially on the design of the packaging. Packaging services are provided by ABB Company.
Process of Planning in the manufacturing company for three issues:
1. Adoption of business strategy
ABB Company should adopt business strategy so that they can compete in this global marketplace. The company needs to develop as well as deploy value chain strategy for optimizing customer value with other factors such as cost, time and level of services. It is important for this company to work upon their Process Automation Team where the engineers can come up with solutions on matters relating to electronic equipment that are offered by the company (Porter & Heppelmann, 2015). The company need to drive towards attainment of consistency in Best-in Class Value Chain Strategy, measurements used in support systems as well as governance and standard processes.
2. How does the industry position itself among other existing competitors and potential rivals?
ABB Company occupies the topmost position and is a leader where the company manufactures electrical equipments and serves the customers in and across the world. The company is even listed in Global Fortune 500 Company for last 23 years. Still, there is a need to retain its position and make strategies so that they can compete with their existing competitors (Brettel et al., 2014). The company provides strategic leadership as it ensure development as well as implementation of operational excellence programs. This strategy will get aligned with the manufacturing as well as sales operations in the upcoming financial years.
3. What information is significantly required for its manufacturing or selling budgeting?
The information required is the financial data used for manufacturing and selling purpose for the company. It is needed to work upon constantly so that the company can drive towards bringing continuous improvement as designed for elevating overall manufacturing or selling of budgeting. The company should even use standardized as well as harmonized process that can be built in an integrated way.
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Brettel, M., Friederichsen, N., Keller, M., & Rosenberg, M. (2014). How virtualization, decentralization and network building change the manufacturing landscape: An Industry 4.0 Perspective. International Journal of Mechanical, Industrial Science and Engineering, 8(1), 37-44.
Porter, M. E., & Heppelmann, J. E. (2015). How smart, connected products are transforming companies. Harvard Business Review, 93(10), 96-114.
Porter, M. E., & Kramer, M. R. (2018). Creating shared value. In Managing Sustainable Business (pp. 327-350). Springer, Dordrecht.
Rubmann, M., Lorenz, M., Gerbert, P., Waldner, M., Justus, J., Engel, P., & Harnisch, M. (2015). Industry 4.0: The future of productivity and growth in manufacturing industries. Boston Consulting Group, 9.
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