*first complete the discussion assignment which should be 300 words. * Then respond to the posts that the two peers have written. Each response should be 200 words, the response should start of with “Hello (name)” Discussion Assignment: The future competitiveness of the United States in the global economy will depend upon innovation. The Module 5 lecture also mentioned logistics and briefly discussed UPS as an innovative leader in the global economy, with its motto, “Synchronizing the World of Commerce.” SQT12 also asked you to look into the concept of a value chain in commerce. Today, those value chains may be stretched out all across the globe capturing the best “value adds” people in various parts of the world have to offer. While progress in Lean and unique manufacturing holds promise for the future, we also know that most manufacturing jobs, in the words of Steve Jobs to President Obama, “are never coming back.” What things have you learned in this class that can help you think in terms of innovative new business models for the information age and the global economy? Peer Posts Lisa I think the timing of this class affords me the opportunity to comment on innovative new business models for the information age and global economy. Over the past year COVID has accelerated the need for innovation and forced many companies to implement completely new business models. It has also exposed some companies vulnerabilities and gaps. As ive learned in this class the importance of facilities planning was a glaring gap in some companies business models. Companies that were not able to quickly pivot service and product delivery to a work from home remote business model, failed or are failing. Those that were able to adjust quickly with full understanding of their facilities and design were either able to maintain or sometimes grow. Those that grew were able to pinpoint the cost savings and inefficiencies within their facilities planning, potentially through Sigma Six technologies. Its beneficial for companies and most definitely less costly and risky to modify present operations to ensure for a posible disruption in their supply chain. As we look to the global economy and global trade volumns, there will be an impact to international trade. Not all businesses were able to maintain their relationships with suppliers causing a disruption in their business models and having to source elsewhere or fail. We have realized, as we have worked from home and barely left home, that we can have anything we want delivered to our door. Companies that can continue to provide delivery of product, the mass consumer has grown accustomed to, will continue to thrive and new companies will need to follow their lead when devloping their own business models to compete. Damien Now that we are living in the information age where mass amounts of information flows through the internet medium and is available easily accessible, there are several opportunities in data analytics and data modelling that can prove effective if not essential to modern day business. Data alone is a valuable tool to utilize when navigating a company or business and can often define the survivability of said business. A major shift that has occurred in today’s era of conducting business is reduction in traditional retail supply and demand and instead a commerce type of supply and demand. Causing an increase in concern for data transparency in data sharing and data privacy due to the rapid advance of Information Technology. E-commerce collects endless data on its consumers for numerous reasons but primarily to enhance the buying experience of consumers in new and innovative methods. Data collection and analysis may also lead to the identification and removal of unnecessary waste created by suppliers through the supply chain. This brings the buyer and manufacturer closer together by eliminating the middleman. Manufacturers now have the ability to sell and communicate directly with customers instead of having to go through a retailer, this is especially applicable through websites such as Amazon or a company like Groundworks Coffee. By establishing an online presence, a coffee been manufacturer such as Groundworks Coffee has the freedom and flexibility to sell to retail coffee stores, grocers and directly to an individual consumer. A strategy like this helps both parties in various ways as they can set price of their own and purchase the amount of coffee that suits ones needs. The consumer is not limited to the offerings of a retail location and doesn’t have to physically be at a location to take advantage retail prices for various options. Secondly, they are not bound by a specific window of time, both parties have the ability to choose when to manufacture and when to buy. Additionally, the channel of communication is extremely effective and can only continue to evolve into more streamlined channels of communication between businesses and consumers
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