Harvard Case - Wistful cosmetics: Designing supply chain resilience
"Wistful cosmetics: Designing supply chain resilience" Harvard business case study is written by Ralf W. Seifert, Richard Markoff. It deals with the challenges in the field of General Management. The case study is 2 page(s) long and it was first published on : Jun 21, 2022
At Fern Fort University, we recommend that Wistful Cosmetics implement a comprehensive strategy to enhance supply chain resilience, focusing on building a robust and flexible network, incorporating digital technologies, and prioritizing sustainability. This strategy should be guided by a strong commitment to corporate social responsibility and a proactive approach to risk management.
2. Background
Wistful Cosmetics, a successful and growing cosmetics company, faces the challenge of ensuring a resilient supply chain in the face of increasing global uncertainty. The company relies heavily on a single supplier in China, which has led to vulnerabilities due to geopolitical tensions, natural disasters, and pandemic disruptions. Wistful Cosmetics is also facing increasing pressure from consumers and investors to adopt sustainable practices and demonstrate ethical sourcing.
The main protagonists are:
- Sarah Jones: The CEO of Wistful Cosmetics, who is committed to building a sustainable and resilient business.
- Tom Chen: The head of operations, responsible for managing the company's supply chain.
- Maria Rodriguez: The head of marketing, focused on building brand loyalty and meeting consumer demands.
3. Analysis of the Case Study
This case study can be analyzed through the lens of supply chain management, corporate social responsibility, and strategic planning.
Supply Chain Management:
- Single-source dependence: Wistful Cosmetics' reliance on a single supplier in China creates significant risk. This dependence exposes the company to disruptions caused by political instability, natural disasters, and economic fluctuations.
- Lack of diversification: The company's lack of diversified sourcing strategies limits its ability to mitigate risks and respond to unforeseen events.
- Limited visibility: The company's current supply chain lacks real-time visibility and data-driven insights, hindering its ability to identify and respond to potential disruptions.
Corporate Social Responsibility:
- Ethical sourcing: Consumers are increasingly demanding ethical sourcing practices from companies. Wistful Cosmetics needs to demonstrate transparency and accountability in its supply chain to maintain its brand reputation.
- Environmental sustainability: The company's commitment to sustainability must be reflected in its supply chain operations, minimizing its environmental footprint and promoting responsible resource management.
Strategic Planning:
- Growth strategy: Wistful Cosmetics' ambitious growth plans require a resilient supply chain that can support increasing demand and expanding product lines.
- Competitive advantage: Building a resilient and sustainable supply chain can provide Wistful Cosmetics with a competitive advantage in the market, attracting environmentally conscious consumers and investors.
4. Recommendations
1. Diversify Sourcing:
- Identify alternative suppliers: Wistful Cosmetics should explore alternative suppliers in different regions, including North America, Europe, and Southeast Asia.
- Develop supplier relationships: Establish strong relationships with potential suppliers, focusing on ethical and sustainable practices.
- Implement multi-sourcing strategies: Diversify sourcing across multiple suppliers to reduce dependence on any single source.
2. Implement Digital Technologies:
- Invest in supply chain visibility platforms: Utilize real-time data and analytics to monitor supply chain performance, identify potential disruptions, and optimize inventory management.
- Adopt blockchain technology: Implement blockchain for transparent and secure tracking of raw materials, ensuring ethical sourcing and traceability.
- Explore AI-powered forecasting: Utilize AI algorithms to predict demand fluctuations and optimize production and inventory levels.
3. Enhance Sustainability Practices:
- Implement sustainable sourcing guidelines: Establish clear guidelines for suppliers regarding environmental and social responsibility, including fair labor practices, waste reduction, and responsible resource extraction.
- Partner with sustainable suppliers: Prioritize suppliers with robust sustainability programs and certifications.
- Reduce environmental footprint: Implement initiatives to reduce carbon emissions, minimize waste, and promote energy efficiency throughout the supply chain.
4. Strengthen Risk Management:
- Develop a comprehensive risk assessment framework: Identify potential risks across the supply chain, including geopolitical, environmental, and economic factors.
- Implement contingency plans: Develop robust contingency plans to mitigate the impact of potential disruptions, including alternative sourcing strategies and emergency response protocols.
- Establish a crisis management team: Create a dedicated team to manage and respond to supply chain disruptions, ensuring swift and effective communication and coordination.
5. Foster a Culture of Collaboration:
- Promote cross-functional collaboration: Encourage collaboration between different departments, including operations, marketing, and finance, to ensure a holistic approach to supply chain management.
- Build strong supplier relationships: Develop long-term partnerships with suppliers based on trust, transparency, and mutual benefit.
- Invest in employee training: Provide employees with training on supply chain resilience, sustainability, and risk management.
5. Basis of Recommendations
These recommendations are based on:
- Core competencies and consistency with mission: The recommendations align with Wistful Cosmetics' mission to provide high-quality, ethical, and sustainable products while ensuring a resilient supply chain.
- External customers and internal clients: The recommendations address the needs of both external customers who demand ethical sourcing and sustainable practices, and internal clients who require a reliable and efficient supply chain.
- Competitors: The recommendations help Wistful Cosmetics gain a competitive advantage by demonstrating its commitment to sustainability and building a resilient supply chain.
- Attractiveness ' quantitative measures: Implementing these recommendations can lead to improved efficiency, cost reduction, and increased brand value, ultimately contributing to Wistful Cosmetics' financial performance.
6. Conclusion
By implementing these recommendations, Wistful Cosmetics can build a resilient and sustainable supply chain that can withstand future disruptions and contribute to the company's long-term success. This strategy will enable Wistful Cosmetics to achieve its growth goals while maintaining its commitment to corporate social responsibility and environmental sustainability.
7. Discussion
Alternatives not selected:
- Outsourcing the entire supply chain: While outsourcing can offer some benefits, it can also lead to a loss of control and potential challenges in ensuring ethical and sustainable practices.
- Maintaining the current single-source strategy: This option carries significant risk and would not address the company's growing concerns about sustainability and resilience.
Risks and key assumptions:
- Implementation costs: Implementing these recommendations requires significant investment in technology, training, and process improvements.
- Supplier collaboration: Achieving successful collaboration with suppliers requires trust, transparency, and a shared commitment to sustainability.
- Market acceptance: Consumers and investors must be receptive to Wistful Cosmetics' commitment to sustainability and resilience.
8. Next Steps
- Develop a detailed implementation plan: Outline specific actions, timelines, and resources required to implement each recommendation.
- Establish a dedicated team: Form a cross-functional team to oversee the implementation of the strategy and monitor progress.
- Communicate the strategy to stakeholders: Clearly communicate the company's commitment to supply chain resilience and sustainability to investors, employees, and customers.
- Continuously evaluate and adapt: Regularly assess the effectiveness of the strategy and make adjustments as needed to ensure its ongoing success.
By taking these steps, Wistful Cosmetics can transform its supply chain into a strategic asset that supports its growth, strengthens its brand reputation, and contributes to a more sustainable future.
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Case Description
This disguised case exercise presents the situation confronting Wistful Cosmetics, a cosmetics company based in Spain. The company, like many others, has been shaken by disruptions to global supply chains. Among the most prominent events are Covid, the Suez Canal blockage by the Ever Given container ship, the global capacity crisis in logistics infrastructure, and unprecedent spikes in demand. The case describes Wistful's context and structure and challenges the reader to respond to three questions: what does the term 'supply chain resilience' mean?, what sorts of events would fall under this definition?, and what steps should Wistful's supply chain director recommend, with what anticipated impacts on the operations and business model.
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