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Overview of Coca-Cola Company

Question:

Discuss about the Purchasing Management for Coca Cola Company.

The successful operations of most organizations bot private, public, or military rely on their abilities to manage their purchasing power in the marketplace. This paper focuses on the purchasing management strategy in particular consideration of company of Coca-Cola that continues as the chief marketer of soft drinks in the universe. Besides, the paper provides the critique to purchasing management practices adopted by the company as well as some of the recommendations that can aid in improving such management practices. This article presents the detailed analysis and recommendations for purchasing management for Coca-Cola Company as one of the key aspects of its performance. According to Gupta (2011), Coca-Cola Company deals with non-alcoholic beverages. The supply strategy of the company comprises of the well-organized approach to distribution from the year 1890 where the company focused on manufacturing of concentrates of syrup before supplying to some bottlers all over the global society. The strategies of management of the company focus in moving in the right direction by capturing advance opportunities that need its mission together with purpose executed across its operations by recommending best structure of partners with non-alcoholic soft drinks. The major competitor of the company comprises of Pepsi Company, Snapple industry, Dr. Pper, along with Monster Beverage Corporation among other businesses that deal with soft beverages. The organizational goals of Coca-Cola Company aim at refreshing the global body, mind, as well as spirit (Gertner et al., 2015). Therefore, the company has its targets set to provide inspiring moments of optimism and happiness through the provision of quality brands and actions in the marketplace. Besides, the company operates its purchasing management operations on the vision that focus to attaining its underlined strategic goals and mission. Therefore, this primary objective of this paper is to analyze phases of management of purchasing of Cola-Cola Company such as supplier asortement criteria along with issue, Information Communication technology for acquiring competitors, plus buying cost examination while recommending appropriate techniques of improving these aspects.

The company focuses on the process that is tangible as well as intangible materials flow in its operations. Besides, Coca-Cola Company involves the institutions that engage in its activities for the delivery of these essential for its operations. In the shared scenario, other organizations that the company collaborates with to ensure that they become competitive in the market include the raw material suppliers along with its loyal customers (Foster, 2014). Therefore, the phases of supply production of the company revolve from the acquisition of raw materials from its suppliers, processing within the corporation and finally the supply to its domestic and international customers. As reported by Hartogh (2013), supplier production criteria along with issues of the Coca-Cola Company consist of the network of other organizations that are having linkage in both downstream as well as upstream in various activities and processes of production. Therefore, supply production for the Coca-Cola Company comprises of customers, distributors, retailers, suppliers, and manufacturers.

Purchasing management strategy of Coca-Cola Company

There is a need for the Coca-Cola Company to have highest standards along with processes because of the nature of the business involving non-alcoholic drinks. The highest standards and processes for supplier production criteria and issues within the company will ensure that the corporation to have reliable excellence across itscomplete value chain from its focus creation to its bottling together with release of its products (Akomea, 2016). Coke company must ensure that all of its suppliers and other employees to comply with the law and act ethically in all matters to increase the supply of quality products and services. Suppliers of the company are expectable to operate in the greatest interest of the organization. The dealers should have no rapport, monetary, or else, with the employees of the company that might conflict or appears to conflict with the obligations of the workers to take action in the top attention of Coke Company. The appropriate criteria when selecting suppliers should follow the supplier guiding principles of the company by its communicating the values and expectations.the decisions needed for issues that relate to supplier selection include the proper focus on the requirements for all suppliers (Vrontis & Lains, 2013). All the stakeholders involved in the selection of suppliers must prohibit themselves from cartel activity, refraining from bribery activities, follow the supplier of business behavior, supplier-guiding values, and policy of trade permits.

Coke Company can adopt various practices in the criteria of supplier production to solve issues such as bribery and breaching of the contract during supplier production. The company can set an anti-bribery policy that it expects its suppliers to respect and abide with during their operations (Mubayi, 2012). Therefore, such systems allow the suppliers to focus on achieving sustainable working conditions by adhering to the set policies when interacting with officials of several authorities globally on behalf of Coca-Cola Company along with its subsidiaries. The company needs to prohibit activities of cartel during activities of suppliers’ production. Therefore, Coca-Cola Company can expect all of its suppliers to comply with every applicable antitrust or competitive business laws in every jurisdiction where it conducts its operations.

The goals of ICT in Coca-Cola Company in the acquisition are to communicate both internal and external operations of the company. During purchasing operations, Coca-Cola Company’s goal of the usage of Information and communication technologies (ICT) aims at addressing the actual outcomes in its operations in various ways (Wang, 2015). The use of ICT leads to variations of different technical factors during supplier management. Some of the of the goals of the ICT comprises of designing for packaging of the company’s products, the growth of innovative equipment for productions, advertisements, and development of programs that aid in the promotion of the company’s products. Additionally, ICT for purchasing operations in the Coca-Cola Company is essential in maintaining several types of the code of conduct of every supplier and customers. The ICT has then resulted to a significant breakthrough in the manner of communicating throughout us of the internet to achieve an efficient environment for purchase. In the previous years, the company used to consist of a centralized approach of ICT in purchasing operations, and after some years, the company has discovered that meeting the demands of ICT for purchase is necessary. Therefore, adoption of the best ICT decentralization has become the requirement for purchase (Robert, 2013). The ICT departments in the operations o the Coca-Cola Company has helped the management in making the right decisions that are essential in the administration of every operational sector of the company in a more efficient manner. ICT has helped the company in focusing at the on the best ideas on how to increase their market advantage among the businesses that produce non-alcoholic beverages.

Supplier production criteria and issues for Coca-Cola Company

The company can invest in the supply chain infographics to help in solving transportation issues. The use of technological infographics by the company forms the snapshot as to what exactly the logistics that it focuses on daily without fail in production, distribution, marketing, and supply. Improving the ICT of the company with the current advancements in the market will help the organization in purchasing its products. Besides, improved technologies during the acquisition will allow the company to evaluate the trends of its sales. The evaluation can be reachable through call completion, development of business marketplaces, together with the active call of productions by the use of advanced ICT (Saltelli et al., 2013). The company can embrace the need for training its stakeholders to understand how to evaluate their production and performance during purchase. The company can adopt the use of cloud computing to improve its operations in selecting quality products and services from the suppliers. The idea can help the company in purchasing only raw materials that are of the highest quality from suppliers to be applicable in the production of COKE products. The use of advanced technologies can aid the company to check on the quality of the goods before their supply to marketers, distributors, and loyal customers (Yu, 2015). The production of such quality products using advanced technologies will allow the company to attain huge income in every financial year. Even though the company has the bigger following on the platforms of social media, the company lacks the engagement in the development of loyalty with its esteemed and targeted customer. Therefore, the company can focus to be innovative in its strategies of marketing by using advance development of ICT in accessing social media to engage with the clients.

Just like every organization in the business environment, the goals of purchase of Coca-Cola Company is to create a climate that allows it to become the biggest company that deals with non-alcoholic beverages in the world. Its goals are to ensure that every customer around the global society stays refreshed. Therefore, purchasing costs of the company in the operation of global business places it to have tremendous demands on the supply chain (Halation, 2011). These requirements make it possible for everyone to find the best person answering the calls everywhere where they perform their businesses. The company focuses on reducing its purchasing costs by ensuring that every link in the supply chain stretches from bottler to consumer collaborate in working as a team. The company needs improving its purchasing costs by the creation of some of the best-selling beverage products in the world (Sundar, 2012). The company achieves the production of such products by incorporating the best technology around and employing some of the best employees to perform its business operations.

Information Communication Technology (ICT) and its role in purchasing operations for Coca-Cola Company

The development of effective marketing plan is essential in controlling the needs of purchase in the company and its costs. The program of activities can include the detailed along with the complete document that aid in covering all the purchasing activities that the company needs to follow. The use of purchasing plan is essential as it can support the company to focus only on the planned purchasing activities without incurring extra costs (Collier, 2014). The management of the company can do marketing research to understand the cost of purchasing various products without necessarily relying on a single supplier that might increase its purchasing costs because of monopoly. Besides, market research can also help the company to know exactly the test and preferences of its consumers and this will be essential that they produce only the products loved by many clients. Such production of quality products will enable it to reduce the production costs of products that will not add more values to its loyal and target consumers (Yuvaraju et al., 2014). Conducting of research will allow the company to understand its competitors and focus on how to invest on modes of improving purchasing costs among its goods.

Understanding purchasing costs involved in operations allows the company to achieve consistent, quality and safety products. The company will also be able to develop strong governance practices in the working environment (Sundar, 2012). Besides, every employee will work diligently in ensuring that they comply with applicable business regulations and standards.all these recommendations will help the company to continue with modern policy marketing trends and situations, together with company’s best practices(The real thing: truth and power at the Coca-Cola Company, 2014). Through engagement of standard setting as well as the organization of operations, the company can reduce its purchasing costs, and this will boost the revenue of the company. Ideal purchasing costs will ensure that the company link in the chain stretched from bottler to consumer to work together. Furthermore, the need to stay current with new operational regulation is essential in purchasing costs of the Coca-Cola Company (Wang, 2015). Establishment of best governance process in every sector within the company aid in the implementation, documentation of activities, and maintaining the safety and quality system about the international marketing standards that aims at regulating purchasing costs.

Conclusion

After reviewing the stand of the Coca-Cola Company in the global marketplace as well as determining the activities for its purchase management, the company needs to perform various reforms to achieve greater sustainability. The discussed recommendations in sectors of Supplier production principles and concerns, technology for operations of purchasing, as well as cost analysis of purchase are vital for the future growth of the business of the company. An essential part of the purchasing management of the Coca-Cola Company is the formation of efficient criteria of supplier production and resolving any issues that might arise during the operations. It is essential for this company to have differentiated connections of its supply production chains. A differentiated supplier production criteria and issue will allow every supplier that gets into the operations of the company to receive appropriate treatment with different entities from the transactions that involve the sale of products to the targeted consumers. Therefore, the effective purchase management practices will define the success of the business of theCoca-Cola Company. If the organization can implement the ideal practices characterized by current technology, there is a high likelihood that it will be successful in its operations. Practical approaches to purchase management allow the company to achieve sustainable business working environment to its clients thereby aiding in winning their trust.

References

Akomea Bonsu, C. (2016). Product Traceability and Identification: An Examination of Its Effectiveness at the Coca-Cola Company of Ghana Limited, Kumasi, Ghana, West Africa. Science Journal Of Business And Management, 4(2), 51. https://dx.doi.org/10.11648/j.sjbm.20160402.15

Collier, K. (2014). A Case Study on Corporate Peace: The Coca-Cola Company: Coke Studio Pakistan. Business, Peace and Sustainable Development, 2014(2), pp.75-94.

Foster, R. (2014). Corporations as Partners: “Connected Capitalism” and The Coca-Cola Company. Polar: Political And Legal Anthropology Review, 37(2), 246-258. https://dx.doi.org/10.1111/plar.12073

Gertner, D., Gertner, R., & Guthery, D. (2015). Coca-Cola's marketing challenges in Brazil: Thetubaínaswar. Thunderbird International Business Review, 47(2), 231-254. https://dx.doi.org/10.1002/tie.20050

Gupta, S. (2011). MIR talks to Stan Sthanunathan, Vice President of Marketing Strategy and Insights, Coca-Cola Company. Gfk Marketing Intelligence Review, 3(1). https://dx.doi.org/10.2478/gfkmir-2014-0056

Halation, E. (2011). Strategy Formulation to use of Elements of Logistics and Supply Chain Factors (Case Study: Iran Khodro Company). IJAR, 4(7), 292-294. https://dx.doi.org/10.15373/2249555x/july2014/92

Hartogh, M. (2013). It's Still the Real Thing: A Profile of the Coca Cola Company. SSRN Electronic Journal. https://dx.doi.org/10.2139/ssrn.1030577

Mubayi, S. (2012). Alexandra Chreiteh, Always Coca-Cola [D??iman Coca-Cola]. Trans. Michelle Hartman. Northampton, MA: Interlink Books, 2012. Pp. 121. Journal Of Arabic Literature, 43(2-3), 540-542. https://dx.doi.org/10.1163/1570064x-12341250

Roberts, I. (2013). Corporate capture and Coca-Cola. The Lancet, 372(9654), 1934-1935. https://dx.doi.org/10.1016/s0140-6736(08)61825-5

Saltelli, A., D’Hombres, B., Jesinghaus, J., Manca, A., Mascherini, M., Nardo, M., & Saisana, M. (2013). Indicators for European Union Policies. Business as Usual? Social Indicators Research, 197-207.

Sundar, D. (2012). Unleashing the Entrepreneurial Potential of Women:initiative of Coca Cola Company. Global Journal For Research Analysis, 3(8), 1-3. https://dx.doi.org/10.15373/22778160/august2014/175

The real thing: truth and power at the Coca-Cola Company. (2014). Choice Reviews Online, 41(10), 41-6005-41-6005. https://dx.doi.org/10.5860/choice.41-6005

Vrontis D & Iain S (2013), The Strategic Positioning of Coca-Cola in their Global Marketing Operation, Market Review Business Journal, Volume 3, pgs 289-309, retrieved from https://www.academia.edu/389600/The_Strategic_Positioning_of_Coca-Cola_in_their_Global_Marketing_Operation

Wang, M. (2015). Brief Analysis of Sports Marketing Strategy Adopted by Coca Cola Company. Asian Social Science, 11(23). https://dx.doi.org/10.5539/ass.v11n23p22

Yu, H. (2015). Huiyuan’s Acquisition by Coca-Cola in PRC – Case Analysis. Journal Of Economics, Business And Management, 3(2), 271-275. https://dx.doi.org/10.7763/joebm.2015.v3.193

Yuvaraju, D., Subramanyam, D., & Rao, P. (2014). Advertising Strategy of Coca-Cola at Coca-Cola Beverages Pvt.Ltd. IOSR Journal Of Business And Management, 16(6), 122-131. https://dx.doi.org/10.9790/487x-1662122131

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