Select two firms in the same industry: - Research Paper Example

In this case, Toyota Motors buy their raw materials from all over the world. The company maintains a good relationship with its suppliers so as to utilize the availability of raw materials. Toyota utilizes Just In Time approach in handling its raw materials. Operations- This is where goods are assembled or manufactured. Individual operations comprise of organizing the parts to make new cars and the final tune for the engine of a new car. The company is known for its reliability which comes from its efficient resources.

Outbound Logistics- Here, the goods are finally finished and are ready to be sent along supply chain to wholesalers, retailers or the final consumer. The company manages its showrooms in various countries. Toyota makes its products easily available and accessible. Procurement- It is a function that is responsible for purchasing all the materials, goods and services within the organization. The main aim is to get the lowest price possible for the purchase of the highest possible quality. The Company will be responsible for outsourcing (operations or components that could have been done in-house are given to another organization) and e-procurement (using web-based and IT technologies to achieve procurement aims).

Development- Technology is a vital source of competitive advantage therefore organizations need to be innovative so as to lower the costs and protect and sustain competitive advantage. Toyota utilizes internet marketing activities, production technology, Customer Relation Marketing (CRM), lean manufacturing and several other technological developments. Human Resource Management- Employees are very important assets of an organization. Toyota manages recruitment and selection, training and development, and rewards and remuneration.

The company considers its employees as Human Capital. HRM strategy is the driving force of the company’s mission and objectives. Their mission is "To attract and attain customers with