GMS project notes

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Toronto Metropolitan University *

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Management

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Apr 3, 2024

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pdf

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2

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Company: Hudson bay Question 8: Supply chain management What strategies does the company use for managing their supply chain? Although Hudson Bay utilizes a variety of supply chain management techniques, I would like to highlight two in particular: technology integration and sustainability initiatives. Technology Integration: The term "technology integration" describes the smooth integration of technological resources, tools, and systems into different organizational or process components in order to improve results, efficiency, and functionality. It entails using technology wisely to enhance productivity overall, processes, communication, and data management. In order to combat and lessen the impacts of the slow retail industry at the time, which compelled them to fire 2000 employees in order to save in operational costs, Hudson Bay moved to digital transformation in 2018. Sustainability Initiatives: Hudsons bay has Incorporated sustainability into their supply chain by limiting waste, using eco-friendly procedures, and procuring items ethically. This could also be due to a reaction to consumers' increased inclinations toward eco-friendly goods. Hudson Bay considers 6 sustainable attributes when evaluating the brands they carry: Conscientious design Cruelty free Ethical sourcing Giving back Handcrafted/artisanal Organic What practices does the company undertake to mitigate the supply chain risk? Supplier Relationship Management: The strong bonds that Hudson Bay has built with its suppliers have played a major role in their success. The company has kept lines of communication and collaboration open in order to develop a more responsive and cooperative supply chain that enables quick problem-solving and minimizes risk. Diversification of Suppliers: Hudson bay has a large list of suppliers and relying on a diverse set of suppliers helps mitigate the risk. The risk of a single supplier experiencing interruptions is reduced when essential components or goods are sourced from many sources. Who are their major suppliers? 1754523 Ontario Inc o/a Westex International Aarthi A1 Home Trends Private Limited Checking Packing Division Adriste Philippines Inc. Agile Sweater Co., Ltd
Akbar Corporation Ltd. How does the company evaluate and select their suppliers? Hudson bay evlauates and selects their supplier based on their compliance with HBC Supplier Code of Conduct and their ethical sourcing program. What operational and/pr managerial certifications does the company require from their suppliers?( ISO 9000) There is no public knowledge of certifications that Hudson bay requires from their suppliers. They only have guides that the suppliers must follow. Provide recommendations on how the company may improve the management of their supply chains. One thing that I would recommend to the company is that they implement more advanced forecasting. I believe they would benefit from using more updated tools and predictive analytics to predict demands.
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