When exploring the supply side of the Firebox business there are certain aspects that can be improved upon. In order to maintain customers’ interest in their website and for them to continue to buy their products, it is necessary for Firebox to do continual research for unique and quirky products. However, to have Firebox staff physically travelling around the world looking for new items to add to their retail website is not a cost-effective solution. The problem is that a lot of time and effort will be spent looking for both products and manufacturers willing and able to supply without any guarantee that Firebox researchers will obtain their goals.
One possible solution is for Firebox to create a web based solution which focuses making it possible for potential suppliers to come in contact with Firebox. This interactivity can take place by encouraging suppliers to send updates on what new unique product that they may have or even send physical samples of those products. Another way for Firebox to get suppliers attention would be to advertise their company’s needs in the International and Regional Yellow Pages both on the internet and as a placement ad in the physical booklet.
Also, it might be a good idea to encourage customers to recommend new items that the company might be unaware of by creating incentives such as gift cards or similar rewards.
While over viewing the potential improvements that can be made with regards to the company’s supply side activities certain aspects such as cost of storage space, web redesign (to accommodate the company’s e-commerce element), ads in hardcopy and online yellow pages, Google adverts and magazines. Additionally, to increase efficiency within a company, a supplier management system can be put in place.
Good suggestions about continuous research for Firebox and I like the discussion where you present the possible problems associated with this. Its crucial for organisations to continuously research/scan the external environment (e.g. using SLEPT) as it keeps changing. This is not just for innovation or for finding new ideas of products/services but even to stay current. Do you think that by allowing potential suppliers to collaborate online, or for Firebox to express it’s needs openly may have some possible issues or perhaps opportunities for Firebox’s competitors?
ReplyDeleteMany organisations such as Apple, Dell etc, have benefited from getting customer feedback on existing products and drawing ideas from this for innovation and developing products (I think this is explained in detail in Wikinomics). This can be done in the form of allowing customers to write ‘reviews’ on products, creating forums where people can express the opinions, and discuss about problems they may have had with existing products. The company can analyse and use this (free)information to improve products/services or to develop new products.
See you guys tomorrow!
Interesting suggestion. Is this a response to the SLEPT elements? It seems you took into account the Technology aspects of SLEPT. How about the Legal aspects, in terms of what people can be allowed to 'see' product ideas, or if the company is also allowed to do that?
ReplyDeleteRegards,
I also think you guys have stumbled on to another key area, that of supply management, so it might be worth thinking of that.
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