Regal Marine employs several supply chain management strategies. Due to the wide range of raw materials that they need to make a boat, they use different strategies for different areas. For example, they use a few suppliers strategy for engineers(VOLVO) in order to improve the final quality of the product according to the feedback from engineering enterprises. If they used many suppliers strategy, the cost would be lower because of the fact that they have to compete between each other and they could have less improvement. In other pieces of the boat, not as critical as it is an engine, they might use many suppliers techniques in order to reduce the cost of the product. Although there are some aspects of Regal Marine's strategy that let us see some vertical integration, they could even improve this aspects in order to reduce inventories and save some money, as the last speaker painted out in the video.
Regal Marine employs several supply chain management strategies. Due to the wide range of raw materials that they need to make a boat, they use different strategies for different areas. For example, they use a few suppliers strategy for engineers(VOLVO) in order to improve the final quality of the product according to the feedback from engineering enterprises. If they used many suppliers strategy, the cost would be lower because of the fact that they have to compete between each other and they could have less improvement. In other pieces of the boat, not as critical as it is an engine, they might use many suppliers techniques in order to reduce the cost of the product. Although there are some aspects of Regal Marine's strategy that let us see some vertical integration, they could even improve this aspects in order to reduce inventories and save some money, as the last speaker painted out in the video.
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