Applications on Supply Chain Collaboration †MyAssignmenthelp.com

Question: Discuss about the Applications on Supply Chain Collaboration. Answer: Introduction Shopping malls have become the next home for city tourists and shopping addicted people all around the world. The introduction of shopping mall has radically changed the retail business of innumerable brands and has become a beacon of innovative business strategy. The business and retail world is changing constantly at a rapid pace with the introduction of new business trends specific to the need of the market. Business of the shopping malls relates directly to the psychology of the customers. To bring the footfall of customers to the mall a number of strategies are applied to create a lucrative environment for the common folk. One of the most famous malls of Singapore, Suntec City takes care of all the stuff with precision and quality (Suntec City 2017). The marketing strategies which are deployed by the Suntec City Mall are the main reason for its success. Those strategies are mentioned as follows: Competitive Positioning- This strategy is used in the face of market targets which are set by the Suntec City mall where it will compete with any advantage which it will create. The creation of aims and objectives is done under the ambit of core strategy. Competitive positioning is done by the strategy makers of Suntec City by enhancing the market share and by broadening their approach towards the market to reach a specific target (Suntec City 2017). When we talk about the core strategy an analysis is required of the competitors and customers to find out the opportunities and problems. This strategy helps the management to focus on the strengths of the mall and identify them and tackle them so that they secure all their vulnerabilities. Demographic Change-Suntec City has made its infrastructure and management to become a theme park. The first and the foremost thing to adopt or to inculcate any business strategy is to understand the demography and behavior of the visitors. To accomplish this survey of quantitative nature was conducted with the help of a structured questionnaire distributed among 700 Suntec City visitors (Suntec City 2017). Identification of different visitors was done through the cluster analysis which was establishedon the demographic variables and factors relating to the range of behavior. The parameters which was taken into account was that of the time spent and cost incurred during the time of visit to the Suntec City. It was found out that the characteristics of demography shown by the visitors seriously affect the insights of the visitors towards the nature of business being conducted by the mall. Another thing which was conclusive from the survey was the quality of service being rendered by th e theme park module adopted by Suntec City. Visitors lay utmost importance to the service being provided as it turns out to be the most desired thing sought by a visitor of the Suntec City Mall. Framework for Macro-environmental Analysis- As a result of the survey and analysis done by the management of Suntec City Mall on a macro basis taking the environment in mind it has been found out that shopping malls have become a prime spot for the purpose of socializing and meeting which includes range of visitors of all age and demography (Thang and Tan 2013). They look up to the shopping malls as a place where they can upgrade their social knowledge as per the changing trend of the world. Keeping these expectations in mind Suntec City management provides range of experiences to their visitor which goes far beyond traditional shopping. Presentation and delivery of facets of culture of distant places of the world provides a homely atmosphere for tourists who visit Suntec City from different parts of the world (Suntec City 2017). They incorporate elements which transforms a part of the mall like the new neighborhood with the help of posters and artifacts belonging to different cultur es. Events like concerts and art exhibitions draw too much footfall of the visitors who like to spend a quality time and to be in touch with their ethos even if they are far from home. Ethnic food and attire festivals organized by Suntec City attract visitors to come and take cognizance of the diversity and richness of globalized world. Technological Environment-To remain at the top of the list of most visited shopping malls in Singapore Suntec City has leveraged its technology and multichannel strategies. Digitalization of retail stores has made it possible for the Suntec City mall to extend their relationship to its visitors before and after visiting the mall. Using number of provisions provided by the social media and digital marketing Suntec City creates a compelling content which forms deeper bonds between its management and the visitors (Suntec City 2017). Another strategy is the royalty program which establishes a direct relationship of the mall with its visitors who get bound to visit the mall again to take advantage of the royalty points given to them by Suntec City Mall. Strategy used by the retailers to reach out to its customers with the help of tailored offers, customized gifts and other advertisements which are constructed on the basis of location and relevant intelligence is magnified by the Suntec Ci ty Mall (Mohapatra 2013). To reach to this level of visitor attraction the technologies being used are face recognition, habit based searches, mobile ads based on the location of the visitor and search engine optimization are used very frequently by the Suntec City Mall. To increase the level of customer satisfaction Suntec City has thoroughly gone through the pain points and problems faced by the visitors and have tried to overcome almost all the nuances such as finding parking. Sensors have been deployed in the parking lots to find out that how many spaces are available at each level of the parking so that visitors find it convenient to park. Another business strategy is the expansion of new opportunities in real estate and new formats are being explored to keep pace with the changing world of shopping malls. Shopping malls of today look nothing like the old ones. Most significant factor for the success of shopping malls is the strategic location, design and structure which is a real estate affair. Suntec City mall lies in the heart of the city which gives it the advantage of access for the visitors. Being in the most urbanized places in the world Suntec City Mall is fully unified with serene landscape and greenery (Blackburn and Wainwright 2013). As it has been in the vogue that shopping malls are considering to use natural ambience more often Suntec City qualifies for providing a subtle ambience to its visitors. Designing a mall which is much more than just a store requires a great deal of expertise and knowledge in which all the factors of location, looks, structure and ambience is taken into consideration. Suntec City is a magnificent piece of art and a beacon of modern real estate designing. This gives it the edge over other malls since it integrates consumers and attracts various communities (Khare 2013). Suntec City has not bound itself only to shopping and recreation but provides a hospitality aspect by providing hotels and commercial aspect of offices. This increases the additional traffic to the mall and enhances returns to the invested capital. In the end it all comes to the economics of the mall to sustain and become successful in the long run. Constant innovation and evolution in its business trends and strategies which directly or indirectly affects the visitors and gives them a compelling reason to come and shop and spend time in the premises of Suntec City is done by the management team. Conclusion Retail world is changing with a rapid pace and to keep up with this trend shopping malls need to be on the edge and innovation and technology. Business strategy is the pivot of all the systems which is applied to calibrate the shopping malls which is mastered by Suntec City Mall. The strategy integrates all the facets of systems that is required to make Suntec City Mall one of the best shopping malls of Singapore. There are many perks and amenities which the Suntec City makes available to its visitors such as sale of gift vouchers, Wi-Fi, loan of wheelchairs, banks, mobile phone charging, spa and lounges, currency exchange and even taxi booking. Suntec City Mall incorporates all the dynamic features of retail, entertainment and dining which is minutely woven to make things simpler and better for smooth running of the mall by its management. It has become a single stop shop and entertainment hub for a large number of visitors who like and adore the panorama of its offerings. In the Su ntec City mall one can find the amalgamation of cultural diversity and modernization in retail at the same time. References: Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small business performance: business, strategy and owner-manager characteristics.Journal of small business and enterprise development,20(1), pp.8-27. Czinkota, M.R. and Ronkainen, I.A., 2013.International marketing. Cengage Learning. Dunne, P.M., Lusch, R.F. and Carver, J.R., 2013.Retailing. Cengage Learning. Khare, A., 2013. 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