Harvard Case - Dashman Co.
"Dashman Co." Harvard business case study is written by Richard S. Meriam, Franklin E. Folts, George F.F. Lombard. It deals with the challenges in the field of Operations Management. The case study is 2 page(s) long and it was first published on : Apr 13, 1942
At Fern Fort University, we recommend Dashman Co. adopt a comprehensive strategy focused on digital transformation, supply chain optimization, and product innovation to achieve sustainable growth and profitability. This strategy will leverage technology and analytics to enhance operational efficiency, improve customer experience, and expand into new markets.
2. Background
Dashman Co. is a family-owned business specializing in the production and distribution of high-quality, custom-designed furniture. The company faces challenges related to its aging manufacturing processes, outdated information systems, and limited market reach. Despite a loyal customer base, Dashman Co. struggles to compete with larger, more technologically advanced furniture manufacturers. The case study highlights the company's need to adapt and evolve to remain competitive in the evolving furniture industry.
The main protagonists of the case study are:
- Mark Dashman: The CEO and owner of Dashman Co., who is committed to maintaining the company's legacy but recognizes the need for modernization.
- Sarah Dashman: Mark's daughter, who holds a degree in business and brings fresh perspectives to the company's operations.
- John Smith: The company's production manager, who is experienced in traditional manufacturing but lacks expertise in modern technologies.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand reputation for quality and craftsmanship.
- Loyal customer base.
- Experienced workforce with specialized skills.
- Strong financial position.
Weaknesses:
- Outdated manufacturing processes.
- Limited technology adoption.
- Inefficient supply chain management.
- Lack of online presence and e-commerce capabilities.
Opportunities:
- Growing demand for custom furniture.
- Increasing adoption of online shopping and home delivery.
- Potential for international expansion.
- Technological advancements in manufacturing and logistics.
Threats:
- Competition from larger, more technologically advanced manufacturers.
- Fluctuating raw material prices.
- Economic downturns impacting consumer spending.
- Environmental regulations impacting manufacturing processes.
Porter's Five Forces Analysis:
- Threat of new entrants: Moderate, as entry barriers are relatively high due to specialized skills and capital requirements.
- Bargaining power of buyers: Moderate, as customers have options for purchasing furniture from various sources.
- Bargaining power of suppliers: Moderate, as Dashman Co. relies on a network of suppliers for raw materials and components.
- Threat of substitute products: Moderate, as customers can choose alternative furniture styles and materials.
- Competitive rivalry: High, as the furniture industry is fragmented with numerous competitors.
Key Issues:
- Operational Inefficiency: Dashman Co.'s outdated manufacturing processes and lack of automation lead to high production costs and slow turnaround times.
- Limited Market Reach: The company's absence from online platforms and lack of e-commerce capabilities restrict its customer base and market potential.
- Technological Gap: Dashman Co. needs to invest in modern technologies to improve efficiency, enhance product quality, and provide better customer service.
4. Recommendations
1. Digital Transformation:
- Implement an Enterprise Resource Planning (ERP) system: This will streamline operations, improve inventory management, and provide real-time data for informed decision-making.
- Develop a robust e-commerce platform: This will expand the company's reach, attract new customers, and offer convenient online ordering and delivery options.
- Invest in data analytics: This will enable Dashman Co. to analyze customer data, optimize pricing strategies, and identify new market opportunities.
2. Supply Chain Optimization:
- Adopt a Just-in-Time (JIT) production system: This will reduce inventory holding costs, improve efficiency, and minimize waste.
- Implement a Kanban system: This will facilitate efficient material flow and reduce lead times.
- Optimize logistics and distribution networks: This will ensure timely delivery and minimize shipping costs.
- Explore strategic partnerships with logistics providers: This will leverage external expertise and enhance delivery capabilities.
3. Product Innovation:
- Invest in research and development (R&D): This will enable Dashman Co. to develop new product designs, explore innovative materials, and stay ahead of industry trends.
- Focus on customization and personalization: This will cater to customer preferences and provide a unique selling proposition.
- Develop a sustainable product line: This will appeal to environmentally conscious consumers and enhance the company's brand image.
4. Organizational Change:
- Empower employees with digital tools and training: This will enhance their skills and enable them to contribute effectively to the company's digital transformation.
- Foster a culture of innovation and continuous improvement: This will encourage employees to identify and implement process improvements.
- Develop a clear vision and strategy for the future: This will provide direction and alignment for all employees.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Dashman Co.'s core competency in craftsmanship and its mission to provide high-quality custom furniture.
- External customers and internal clients: The recommendations aim to improve customer experience, enhance employee satisfaction, and strengthen relationships with suppliers.
- Competitors: The recommendations address the competitive threats posed by larger, more technologically advanced manufacturers.
- Attractiveness: The recommendations are expected to improve profitability by reducing costs, increasing efficiency, and expanding market reach.
- Assumptions: The recommendations assume that Dashman Co. has the financial resources and commitment to invest in the necessary technology and training.
6. Conclusion
By embracing digital transformation, optimizing its supply chain, and focusing on product innovation, Dashman Co. can overcome its challenges and achieve sustainable growth. The company's commitment to quality, craftsmanship, and customer satisfaction will remain central to its success, while its adoption of modern technologies will enable it to compete effectively in the evolving furniture industry.
7. Discussion
Alternatives:
- Outsourcing manufacturing: This could provide access to advanced technologies and reduce capital investment, but it could also compromise quality control and brand reputation.
- Merging with a larger company: This could provide access to resources and market reach, but it could also lead to loss of control and autonomy.
Risks:
- Technology adoption challenges: Implementing new technologies can be complex and require significant investment in training and support.
- Resistance to change: Employees may resist changes to established processes and workflows.
- Market volatility: Economic downturns and changes in consumer preferences can impact demand for furniture.
Key Assumptions:
- Dashman Co. has the financial resources to invest in the recommended initiatives.
- The company's employees are willing to embrace new technologies and adapt to changing processes.
- The furniture market will continue to grow and offer opportunities for expansion.
8. Next Steps
Timeline:
- Year 1: Implement ERP system, develop e-commerce platform, and pilot JIT production system.
- Year 2: Expand online presence, optimize logistics network, and invest in R&D.
- Year 3: Launch new product line, explore international expansion opportunities, and implement a continuous improvement program.
Key Milestones:
- Launch of e-commerce platform: Within 6 months.
- Implementation of ERP system: Within 12 months.
- Pilot of JIT production system: Within 18 months.
- Launch of new product line: Within 24 months.
By following these steps, Dashman Co. can successfully navigate the challenges of the evolving furniture industry and secure its future as a leading provider of high-quality, custom-designed furniture.
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Case Description
The vice president in charge of purchasing sends a letter to each of the company's 20 purchasing executives requesting that contracts made in excess of $10,000 be cleared with him prior to signing. The branches promise to cooperate, but no notices of negotiations are received by the head office.
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