Enhancing Production of Merchandise Companies through Resources - Research Paper Example

Enhancing Production of Merchandise Companies through Resources September 8, Table of Contents Introduction………………………………………………………………………………………..3 Purpose…………………………………………………………………………………………….3 Project Description………………………………………………………………………………...5 Methodology………………………………………………………………………………………8 Conclusion……………………………………………………………………………………….10 References………………………………………………………………………………………..11 Introduction The retail and merchandising industry is one that is continuously in demand for a diverse range of needs. To further the available alternatives, is also the need to create a merchandise store which is able to provide specific opportunities for businesses. Currently, the largest number of merchandise stores and manufacturers are exporters from other countries that are shipping to places such as the United States. The growth momentum that is currently available is one that is increasing in demand on a yearly basis. However, there is the need to provide further funding to the various countries. Most merchandising is coming from developing countries while developed countries grow in demand. The gap that has been created can be altered through a funding agency that can offer funding to speed up the process within specific industries. An example that can be considered is the data processing and electronics industry, with most manufacturing occurring in India and China. Altering the available resources to these industries can provide more opportunities to those that are involved in manufacturing (Langhammer, 2002). Purpose The merchandise industry is one that continues to grow in demand. At the same time, most corporations are outsourcing merchandise processes to outside countries. The merchandise manufacturing process comes from developing countries which don’t have the tools, resources or benefits of other countries, such as India and China. For example, the electronics industry is currently booming in the United States and Western Europe. The demands for exports continue to increase for the processing of data and to make different pieces of technology. Even though this demand grows, specifically by adding in newer technologies, developing countries don’t have the resources or the same amount of technology to add into the needed components of the business. The problem is based on a gap between developing and developed countries that is slowing down the available resources and merchandise products that are currently in demand (Langhammer, 2002). The main problem that is associated with merchandise of electronics is the gap of resources that are available. To change this, new developments are required to speed up the process of electronics that are available, specifically by altering the amount of technology that is available through different manufacturers. This needs to be furthered by approaching the trade reforms with new standards that are required for development. Currently, the trade policies vary by region as well as through political agendas that are set by different sectors. With manufacturing of merchandise, such as electronics, the regional differences have created a second gap. The inability to create standards for the different products through market access, domestic support and export subsidies are not provided. For most merchandising companies, this makes the gap furthered by not being able to standardize what is needed for the exports (OECD, 2006). To consider this project, there also needs to be a focus on the movement toward globalization. The main problem within globalization is the difference between developed and developing countries. The lack of resources, as well as the demands for products, is creating a dichotomy within the market. Those who are working in developing countries are required to meet the demands of specific supplies and technological enhancements that are being required by consumers. However, most consumers are in developed countries, which are based on providing high end technology and new innovations and information within the market. To ensure that the merchandise and manufacturing is provided as required is also the need to create a stronger level of support for those who are within the merchandise industry. While many believe that globalization is creating a borderless world, which is not limited to the development of a country, others are finding that the gaps are stopping the growth and enhancement within an industry. The economic distinctions and industrial operations are furthering this, which is changing the needs for growth not only at a national level, but also based on the suppliers that are continuing to develop (O’Meara et al, 2000). Project Description The current problem with merchandising and exports carries two main components. The first is the lack of resources that are available for the production of technology at a specific pace. Most consumers are increasing their demands for specific products, especially within the electronics industry. As this continues to increase, merchandise companies are required to meet the demands through the work that is provided. At the same time, there is the need to enhance this through innovative products. To stay ahead of the competition and continue with consumer demand is the need to create a stronger product that is provided by the merchandise companies. The second problem is the gap provided and needed for domestic support, communication with the market and exporting needs. The focus of this project will be on the electronics manufacturing industry in India. The mission will be to create better alternatives for manufacturing and merchandise products that are being exported to the United States and Western Europe. The overall objective will be to speed up the process of manufacturing by changing the amount of resources available to different manufacturing companies. This will be furthered by providing a main resource center to access and develop support and subsidies. This will standardize the process for exports among different companies. The approach that will be used with this particular option will be based first on funding different merchandise companies of technology through grant programs. The amount that is exported will be matched with the current technologies that are available. After researching different merchandise companies, funding will be supplied to upgrade and change the number of resources available. This will be combined with a main center for individuals in which they can access resources for marketing purposes and to ensure that the technology being used has the right approach and knowledge needed for consumers. The goals and objectives include: 1. Speed up the merchandise process for technology 2. Provide resources to developing countries for different manufacturing needs 3. Provide domestic support systems for merchandise and manufacturing companies involved in electronics 4. Provide access to the market so merchandise suppliers are aware of what they are creating 5. Offer more subsidies to merchandise companies to provide a level of standardization among companies 6. Begin to close the gap of information needed for suppliers within electronics and merchandise companies The main focus of these goals will be to alter the benefits that are associated with exporters of merchandise. Initially, the companies that are manufacturing merchandise in electronics will benefit. Having the right resources and upgrading the technology needed will stop the gap between manufacturers and merchandise providers when exporting different goods. The companies will not only benefit because of the new quality of products. The more that technology and other components are provided to merchandise manufacturers, the easier it will be for corporations overseas. Producing goods faster, distributing at a higher rate and creating higher quality levels for products will all work to favor the different manufacturing enterprises. Not only will there be benefits among the companies, but also among individuals who are interested in the market and in export subsidies. The resource center will provide more opportunities for development among those in the industry (Gao – chao, 2004). Not only will there be different opportunities for merchandising companies, but also for consumers. Those who receive the end products will have a higher quality level with the electronics available. Furthermore, there will be the ability to build a different level of merchandising options. It has been found (Bai et al, 2008), that consumer behaviors directly reflect the amount of knowledge that is provided to merchandise companies. The buying behavior is based on how the companies can manufacture different products as well as the buying habits that come as a result of this hierarchy. Through retail records, it has been found that creating a merchandise hierarchy, in which levels of knowledge and resources are passed down to employees, is the ability to create a stronger set of products that are available to consumers (Bai et al, 2008). Methodology The first step to take in this particular plan is to begin looking at specific manufacturers within the electronics industry in India and China. A testing phase will be required to see what levels of technology are being used within the company. Looking at the amount of supply and demand in Western countries and comparing this to the ability to produce certain levels of clothing will be required. This will be combined with inventory allocations to determine what is currently available to suppliers and what the result is for the technological products that are provided to consumers. A virtual chain will then be assessed, which will include the product mix, timing of delivery, manufacturing layout and available technology to the company. This first level of testing will then determine what types of technology are required for different companies and businesses to function (Fisher, Rajaram, 2000). For this to occur, requirements for initial research and testing will need to be provided through initial funding for the project. An average of five to ten merchandise suppliers will be tested to determine basic trends, dependent on the funding available. This will be tested over the time period of two months, which will include a detailed analysis of information from the merchandising companies as well as prospects needed for further developments of technology. The second phase of this plan will be to provide information to fill the gap between information and resources for different merchandising companies. The timeline for this will last for 6 months. Advertising and communicating with different merchandising companies in electronics and telling them what types of technology and resources will be made available will be the first part to this. After relationships are established, then there will be determinations on the funding needed to enhance the technology within different companies and to offer more prospects to those that are in developing countries. For this to work effectively there needs to be continuous communication and relationship building. This will need to be combined with a thorough understanding of what is needed within developing countries to enhance the technology and to provide the correct level of support to different companies. The third phase of this specific project will be to build domestic support and market access, as well as export subsidies. A main resource center will be developed within India that is based on providing continuous support to merchandise companies that are based on technology. Communication portals and different areas where merchandise companies can gather information will be produced through this area. The funding required for this aspect of the project will include investment in a central location and communication and support service workers that are able to give information to different companies. This will be combined with continuous management and enhancement provided by funding resources. Initial funding will be needed for the basic establishment of this building as well as the service employees made available. There will also need to be continuous funding and maintenance provided over the duration of having this resource center. The center will be provided as a for profit area. After a time period of 1 year, the resource center will be provided with service fees from merchandise providers to ensure that quality information and communication continues to be provided. If this is not possible, then sponsors and alternative sources of funding will be considered. The main outcome that will be required for the funding as well as the resource center and enhanced technology will be a continuous upgrade in services from merchandise suppliers in technology. Since this is the main objective, there will be continuous monitoring of the enhancement of products. The first way in which this will be done will be through the feedback from employees and companies that are providing services. The understanding and knowledge of the individuals as well as the efficiency they provide in electronics will be monitored to ensure that the funding and new resources are working effectively. The second aspect to this will be based on the feedback from consumers. As the merchandise suppliers grow with technological options and resources, should also be more customer relationships that are built. This will be surveyed not only from feedback but also from the merchandise changes. The profits should increase and different innovations should lead to continuous emergence in the market that enhances each company to move forward with the products that are offered (Banker et al, 2000). Conclusion The merchandise that is offered is one that is now moving into global prospects. Specifically, electronics are being provided through outsourcing and export services from places such as India and China. Even though these are the leading manufacturers of electronics, there are gaps that have been found in the production of different products. This is first based on a lack of resources that are available to enhance newer technology products. This is furthered by the need to have domestic support and market access that will allow employees to gain a deeper understanding of the requirements with technology. Offering different options in funding for the merchandise of electronics will enhance the products as well as the main build that is coming from the developing countries. As this is done, there will be the ability to move forward with innovations and supplies at a faster rate with both developing and developed countries. References Banker, Rajiv, S.Y. Young Lee, Gordon Potter, Dhinu Srinvasan. (2000). “An Empirical Analysis of Continuing Improvements Following the Implementation of a Performance Based Compensation Plan.” Journal of Accounting and Economics (30), (3). Bai, Xinxin, Hairong Lv, Wenjun Yin, Jin Dong, Gang Chen. (2008). “Analysis on Merchandise Hierarchy via Clustering Retail Records.” Service Operations and Logistics and Informatics (978). Fisher, Marshall, Kumar Rajaram. (2000). “Accurate Retail Testing of Fashion Merchandise: Methodology and Application.” Marketing Science (19), (3). Gao – chao, Fan. (2004). “Prosperity of General Merchandise Industry in Developed Countries and the Innovation of that in Our Country.” Modern Economic Science (3). Langhammer, Rolf. (2002). “Developing Countries as Exporters of Services: What Trade Statistics Suggest.” Journal of Economic Integration (17), (2). OECD. (2006). “OECD Trade Policy Studies Trading Up Economic Perspectives on Development Issues in the Multilateral Trading System: Global Merchandise Trade Reform.” Emerging Economics (16). O’Meara, Patrick, Howard Mehlinger, Matthew Krain. (2000). Globalization and the Challenges of a New Century. Indiana; Indiana University Press. Read More