Question

Discuss what you consider are the most relevant lessons learned from the Balanced Scorecard framework. Also, discuss the factors you would consider regarding the selection of the location of global supply chain activities. As locating these activities are important, discuss the benefits and risks of location advantages vs. strategic advantages. (2-3 paragraphs)

Answer 1

A balanced scorecard is a business framework used to tracking day to day business activities. it is a strategic planning and performance management framework that tracks financial an non-financial activities to measure the effectiveness of the organization. It mainly considered as a management tool and designed for profit-making companies and also adopted by the government and non-profit companies. The balanced scorecard describes the four perspectives to monitor to make efficient. the four perspectives are financial, customer, internal process and organizational capacity.

The supply chain management is management activity. It transfer goods and services to a different place to maximize customer value and gain a competitive advantage in the marketplace. The supply chain management connected with various network of individuals, organizations, resources, activities, and technologies. The selection of location is an important factor for global supply chain management. Because the availability of raw material is an important factor for the production of goods and services, availability of labor, availability of eater, suitable climate, availability of fuel and electricity and transportation facility. These factors are to be considered when the selection of location for supply chain management process. It helps to reduce the cost of production of goods and services.

The benefits of selecting location for supply chain management process is very important. It mainly considered the availability of resources should be easy for the production and transportation of goods and services. The selection of location is a key to success in business. Location activity has been very high in recent decades as a result of technology improvements, economic growth, international expansion, and globalization. In technology, the development of communication system growing rapidly. Due to the development of telecommunications has created the virtual office of employees working remote location. It leads to reduce the importance of location for doing business. It reduce the workplace for employees they can work at a remote place. When they need to work at the office, they can call and reserve office space for themselves. This type of technology development will reduce the work p[lace size and also reduce the millions of dollars while increasing productivity.