Posted: May 25th, 2022

Trade Communication Plan 2 pages

Trade Communication Plan

Play N. Trade Case Study

As the largest retail game distributor world wide, Play N. Trade has a lot on the line in terms of how it maintains the sanctity of its brand. The company makes most of its revenue through franchising, where it is dependent on the strategic relationship between its business partners to maintain brand integrity and customer respect. In order to best maintain the brand integrity, members of Play N. Trade find themselves tied to supervising their franchisees in order to ensure that quality of service and products remain high. This takes up a lot of time, effort, and resources on behalf of Play N. Trade. Approval for product acquisition must then slowly climb up a hierarchal chain, which often creates a lag in getting the product out to consumers. Adjusting its just-in-time system to a vendor managed inventory may help speed up product acquisition times, along with adopting performance management structures to guide future relationships.

The way the product is distributed must be adjusted. Currently, Play N. Trade uses a 3rd party logistics provider and freight forwarder in order to distribute games to other retailers and directly to customers. The company works with huge retailers like Wal-Mart and Best Buy. Play N. Trade uses a just-in-time system that does not keep a stock of inventory on hand in order to speed up the distribution process. Rather, the just-in-time system used by Play N. Trade only provides products when and as they are ordered. This has been beneficial to the organization, as lower stocks of inventory have allowed for freer capitol to not be tied down in product. This has helped the organization expand into the global giant it is. However, there are several major issues with the just-in-time system in regards to the current desire to reduce the length of time in the product acquisition process. The company now has a goal of reducing this time to one week or less. Yet, using the just-in-time system will not work with such ambitious goals. As such, there are clear lags in the system that makes it almost impossible to reach the week minimum time for product acquisition.

There are several other recommendations to the company that may help them reach their goals. First, the company should try to incorporate more principles of vendor-managed inventory models. This would allow the vendors to take more control over inventory stocks, thus freeing up Play N. Trade from babysitting over them. Such an implementation will strengthen the relationship between good vendors and weed out the ones that would otherwise be too much of a hassle in regards to keeping brand quality high. This can be accompanied with a performance-based management system, where the highest performing vendors are given more power and responsibility within the product distribution and acquisition process. This would ultimately streamline the process and allow Play N. Trade to stop micromanaging the situation so much that it creates lags within the supply chain. Play N. Trade must align itself “strategically, prepare its people, set up good communications processes, recognize that there will be risks to be managed, and put in place a framework for measuring performance” (Reed & Carter 1). Performance rules and guidelines can be a way to streamline communications and acquisitions processes without having to wait for the chain of command to approve in order to remain loyal to the brand image. If a vendor fails to show positive performance, they are removed from the chain.

In regards to the lack of trust in interdepartmental relationships, there are also recommendations that will help business processes flow more smoothly. Currently Play N. Trade is suffering from a lack of trust between the departments in franchisees within the organization. However, in business literature, the ability to influence and design enforced strategies relies on the spirit of cooperation and trust between such departments as an organization (Davies et al., 2011). Trust must be distinguished by proving franchiser integrity, but also the competence of the franchisee. A series of communications between the departments within the company must be able to show the competence of the franchisees to fulfill orders on time in order to protect the integrity of the brand. Thus, a certain level of autonomy must be present for the franchisees operate. Yet, there needs to be a series of reviews throughout the year set in place to evaluate each one’s performance in order to make sure that the period of product delivery does not extend beyond a week. If each department proves that they are taking longer, disciplinary actions must be taken by top management. If it is the franchisees or that are having issues, they need to be dropped in order to find more capable vendors of filling orders in such a short period of time. Either way, the system must be clearly defined so that all parties involved know their role and know the consequences for not meeting their competency expectations.

References

Davies, Mark A.P., Lassar, Walfried, Manolis, Chris, Prince, Robert D. “A Model of Trust and Compliance in Franchise Relationships.” Journal of Business Venturing, 26(2011): 321-340.

Kanter, Rosabeth M. “Collaborative Advantage.” Harvard Business Review. July (1994): 96-108.

Nohria, Nitin; Joyce, William; & Roberson, Bruce. “What Really Works.” Harvard Business Review. July (2003): 42-52.

Reed, Anne & Carter, Svetlana. “Performance-Based Acquisition Requires the Six Disciplines of Performance-Based Management.” Acquisition Directions Advisory. 2004. Web. https://acquisition.gov/comp/seven_steps/library/Learn_6disciplines.pdf

Play N. Trade Case Study

As the largest retail game distributor world wide, Play N. Trade has a lot on the line in terms of how it maintains the sanctity of its brand. The company makes most of its revenue through franchising, where it is dependent on the strategic relationship between its business partners to maintain brand integrity and customer respect. In order to best maintain the brand integrity, members of Play N. Trade find themselves tied to supervising their franchisees in order to ensure that quality of service and products remain high. This takes up a lot of time, effort, and resources on behalf of Play N. Trade. Approval for product acquisition must then slowly climb up a hierarchal chain, which often creates a lag in getting the product out to consumers. Adjusting its just-in-time system to a vendor managed inventory may help speed up product acquisition times, along with adopting performance management structures to guide future relationships.

The way the product is distributed must be adjusted. Currently, Play N. Trade uses a 3rd party logistics provider and freight forwarder in order to distribute games to other retailers and directly to customers. The company works with huge retailers like Wal-Mart and Best Buy. Play N. Trade uses a just-in-time system that does not keep a stock of inventory on hand in order to speed up the distribution process. Rather, the just-in-time system used by Play N. Trade only provides products when and as they are ordered. This has been beneficial to the organization, as lower stocks of inventory have allowed for freer capitol to not be tied down in product. This has helped the organization expand into the global giant it is. However, there are several major issues with the just-in-time system in regards to the current desire to reduce the length of time in the product acquisition process. The company now has a goal of reducing this time to one week or less. Yet, using the just-in-time system will not work with such ambitious goals. As such, there are clear lags in the system that makes it almost impossible to reach the week minimum time for product acquisition.

There are several other recommendations to the company that may help them reach their goals. First, the company should try to incorporate more principles of vendor-managed inventory models. This would allow the vendors to take more control over inventory stocks, thus freeing up Play N. Trade from babysitting over them. Such an implementation will strengthen the relationship between good vendors and weed out the ones that would otherwise be too much of a hassle in regards to keeping brand quality high. This can be accompanied with a performance-based management system, where the highest performing vendors are given more power and responsibility within the product distribution and acquisition process. This would ultimately streamline the process and allow Play N. Trade to stop micromanaging the situation so much that it creates lags within the supply chain. Play N. Trade must align itself “strategically, prepare its people, set up good communications processes, recognize that there will be risks to be managed, and put in place a framework for measuring performance” (Reed & Carter 1). Performance rules and guidelines can be a way to streamline communications and acquisitions processes without having to wait for the chain of command to approve in order to remain loyal to the brand image. If a vendor fails to show positive performance, they are removed from the chain.

In regards to the lack of trust in interdepartmental relationships, there are also recommendations that will help business processes flow more smoothly. Currently Play N. Trade is suffering from a lack of trust between the departments in franchisees within the organization. However, in business literature, the ability to influence and design enforced strategies relies on the spirit of cooperation and trust between such departments as an organization (Davies et al., 2011). Trust must be distinguished by proving franchiser integrity, but also the competence of the franchisee. A series of communications between the departments within the company must be able to show the competence of the franchisees to fulfill orders on time in order to protect the integrity of the brand. Thus, a certain level of autonomy must be present for the franchisees operate. Yet, there needs to be a series of reviews throughout the year set in place to evaluate each one’s performance in order to make sure that the period of product delivery does not extend beyond a week. If each department proves that they are taking longer, disciplinary actions must be taken by top management. If it is the franchisees or that are having issues, they need to be dropped in order to find more capable vendors of filling orders in such a short period of time. Either way, the system must be clearly defined so that all parties involved know their role and know the consequences for not meeting their competency expectations.

References

Davies, Mark A.P., Lassar, Walfried, Manolis, Chris, Prince, Robert D. “A Model of Trust and Compliance in Franchise Relationships.” Journal of Business Venturing, 26(2011): 321-340.

Kanter, Rosabeth M. “Collaborative Advantage.” Harvard Business Review. July (1994): 96-108.

Nohria, Nitin; Joyce, William; & Roberson, Bruce. “What Really Works.” Harvard Business Review. July (2003): 42-52.

Reed, Anne & Carter, Svetlana. “Performance-Based Acquisition Requires the Six Disciplines of Performance-Based Management.” Acquisition Directions Advisory. 2004. Web. https://acquisition.gov/comp/seven_steps/library/Learn_6disciplines.pdf

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