Submit your papersSubmit Now
For Enquiries: [email protected]
IIARD LogoIIARD

Impact of Supply Chain Synergy on Marketing Effectiveness of Business Organizations

Obiekwe, Onyebuchi PhD, Egwuekwe, Martin Ndubuisi MS.c

Abstract

Today’s fierce competitive/s global business arena has brought about tremendous challenges and pressure on business organizations to strategize and develop new ways to increase their competitive advantage and sustainability in the market space through effective synergy of all the partners involved in their supply chain operations. This paper examined the impact of supply chain synergy on the effectiveness of business organizations. The paper notes that that supply chain synergy is vital in enabling firms to achieve competitive advantage and meet customer’s satisfaction, as well as promote business efficiency. Additionally, SCM improve the performance of both individual firm and the entire supply chain for the benefit of all stakeholders. The paper concludes that supply chain synergy enhances firm’s competitive advantage, increase profitability, and provide seamless supply chain which enables for a seamless flow of information sharing. Moreover, effectives supply chain synergy leads to improved product quality, better risk management, cost reduction, as well as economies of scale in productions. It is recommended among others that supply chain partners should jointly engage in planning, decision makings and implementation across the supply chain to enhance better utilization of dedicated investments among the partners. In addition, there should be proper assessment before and after merger or acquisition to enable for full evaluation of all possible network choices and challenges, for the synergy to be successful. Moreover, there should also be a high level of information sharing, trust and transparency among the partnering firms to make them to be more committed in achieving their predetermined joint goals and thereby improve the marketing effectiveness and the general business performance.

Keywords

Supply chain synergycompetitive advantagemarketing effectivenessimprove performance

References

Adam, B. (2019). Fundamental analysis tools for fundamental analysis. Retrieved 10/10/2019 from www.investopedia.com Alber, K. L. & Walker, W.T. (2008). Supply chain management principles and techniques for the practitioner. Alexandria, VA: APICS Press. Appiah-Adu, K., Fyall, A & Singh,S (2001). Marketing effectiveness and business performance in the financial service industry. Journal of Services Marketing, Vol 15 Carr, A. S., & Pearson, J. N. (2002). The impact of purchasing and supplier involvement on strategic purchasing and its impact on firm’s performance. International Journal of Operations & Production Management, 22(9), 1032-1053. http://dx.doi.org/10.1108/01443570210440528 Castaldi, C., Ten Kate, C., & Den Braber, R. (2011). Strategic purchasing and innovation: A relational view. Technology Analysis & Strategic Management, 23(9), 983-1000. http://dx.doi.org/10.1080/09537325.2011.616699 Celtek, S., & Kaynak, H. (1999). Characteristics of supply chain management: towards the development of a measurement instrument. Paper presented at the second annual North American research symposium on purchasing and supply management Chen, I. J. & Paulraj, A. (2004b). Understanding supply chain management: critical research and a theoretical framework. International Journal of Production Research, 42(1), 131-163. http://dx.doi.org/10.1080/00207540310001602865 Chen, I., & Paulraj, A. (2004a). Towards a theory of supply chain management: the constructs and measurements. Journal of Operations Management, 22(2), 119-150. http://dx.doi.org/10.1016/j.jom.2003.12.007 Christensen, H.K. (2010). Strategy & Leadership. Retrieved from: www.meraldinsight.com Council of Supply Chain Management Professional (2010). Retrieved 10/10/2019 from www.cscmp.org. Cousins, P. D. (2005). The alignment of appropriate firm and supply strategies for competitive advantage. International Journal of Operations & Production Management, 25(5), 403- 428. http://dx.doi.org/10.1108/01443570510593120 David, B. (2015). Supply chain management best practices, 2nd (ed) U.S.A: Wiley & Sons Divett, M., Crittenden, N., & Henderson, R. (2003). Actively influencing consumer loyalty. Journal of Consumer Marketing, 20(2), 109-126. http://dx.doi.org/10.1108/07363760310464587 Gregory, S. & Richard, S, (2005). The next stage of supply chain excellence, New York: Rawson Press. Griffith, D. A., Harvey, M. G., & Lusch, R. F. (2006). Social exchange in supply chain relationships: The resulting benefits of procedural and distributive justice. Journal of Operations Management, 24(2), 85-98. http://dx.doi.org/10.1016/j.jom.2005.03.003 Hindi, E. & Thomas, C. (2018). Improving supply chain performance by supplier development program through enhanced visibility. Retrieved on 11/11/2019 from https://www.sciencedirect.com. Jarvis, M. (1999). Concurrent engineering. Work Study, 48(3), 88-91. http://dx.doi.org/10.1108/00438029910262464 Jayant, R. (2019). Supply chains: Definition & basic concepts, university of Pittsburgh. London: Free Press. John, P. (2019). Four steps to sustainability. Retrieved from: www.cips.org Kolter, P. (2007). Marketing management, analysis, planning, implementation & control. Englewood Cliffs New Jersey: Prentice Hall, Krause, D. R., Handfield, R. B., & Tyler, B. B. (2007). The relationships between supplier development, commitment, social capital accumulation and performance improvement. Journal of Operations Management, 25(2), 528-545. http://dx.doi.org/10.1016/j.jom.2006.05.007 Kucheriavy, A. (2019). Marketing effectiveness: ho to measure your marketing success. Retrieved from: https://www.intechnic.com/blog/marketing-effectiveness-how-to- measure-your-marketing-success/ Li, S., Nathan, B. R., Nahan, T. S. & Rao, S. S. (2005). Development and validation of a measurement instrument for studying supply chain management practices. Journal of Operations Management, 23(6), 618-641. http://dx.doi.org/10.1016/j.jom.2005.01.002 Li, S., Nathan, B. R., Nathan, T. S., & Rao, S, S. (2006). The impact of supply chain management practices on competitive advantage and organizational performance. Omega, 34(2), 107-124. http://dx.doi.org/10.1016/j.omega.2004.08.002 Maksimovic, F & Philip, G. (2001). The market for corporate assets: Journal of Finance 2019- 2065. Martin, C. (2011). Logistics & supply chain management, 4th (ed). Harlow: Financial Times Prentice Hall, Harlow. Michael, L., Hergert, T & Michael, L. M. (2008). Surviving merger and acquisition. London: Scott Foresman and Company Addison-Wesley School Press Solcansky, M. & Simberova, I. (2010). Measurement of marketing effectiveness. Economics and Management, (15), 755-759). Nwokah, G & Ahiauzu, A. I. (2008). Emotional intelligence & marketing effectiveness, Emerald Group Publishing Ltd, Marketing International. & Planning, 27. Olowoniyi, A.O & Ojenike, J.O. (2012). Mergers & performance of conglomerate companies in Nigeria, Journal of Emerging Trends in Economics & Management Sciences, 3(4). Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. New York: The Free Press. Pramanik, J & Prakash, M. (2010). Marketable surplus & marketing efficiency of vegetables in indore district, Journal of Agricultural Economics. 7(3): 84-98 Schweiger, D. & Very, P. (2003). Creating value through merger and acquisition integration, Advances in Mergers and Acquisitions. Bingley (u.a.): Emerald, ISSN 1479- 361X, ZDB-ID 2096702-0. Vol 2:1-26 Shenghan, X. (2007). Supply chain synergy in mergers and acquisitions: Strategies, models and key factors. University of Massachusetts, Amherst Press. Simatupang, T.M. & Sridaran, S. (2002). The collaborative supply chain. International Journal of Logistics Management. 13, 15-30 Stadler, K. (2005). Supply chain management and advance planning: Concepts, models, software & case studies, Berlin: Springer Press. Sugar Market (2019). Measuring marketing effectiveness: 5 metrics you need to track. Retrieved from: https://www.salesfusion.com/resource/measuring-marketing-effectiveness-5- metrics-need-track/ Tan, K. C., Lyman, S. B., & Wisner, J. D. (2002). Supply chain management: a strategic perspective. International Journal of Operations and Production Management, 22(6), 614- 631. http://dx.doi.org/10.1108/01443570210427659 Uncles, M. D., Dowling, G. R., & Hammond, K. (2003). Customer loyalty and customer loyalty programs. Journal of Consumer Marketing, 20(4), 294-316. http://dx.doi.org/10.1108/07363760310483676 Vickery, S, K., Jayaram, J., Droge, C., & Calantone, R. (2003). The effects of an integrative supply chain strategy on customer service and financial performance: an analysis of direct versus indirect relationships. Journal of Operations Management, 21(5), 523-539. http://dx.doi.org/10.1016/j.jom.2003.02.002 Wong, W. & Wong, K. (2007). Supply chain performance measurement system using DEA modeling, Research Gate. Yeera, P., Abdul, I. & Chandran, G. (2011). Supply chain management practices in the electronics industry. Malaysia: Emerald Group Publishing Ltd

More Articles from INTERNATIONAL JOURNAL OF MARKETING AND COMMUNICATION STUDIES

Clickbait Strategies and Influence on Consumer Trust and Behavior

Author: Alaba Tobin-West Diamond, Stella. C. Enyindah PhD, Oyinkepreye Brisibe PhD

Digital Public Relations and Corporate Reputation Management Strategies of Oando, Seplat and Renaissance Africa Energy Companies in Nigeria

Author: Dickson, Lauren Dawari, Prof. Godwin B. Okon, Prof. Richard N. Amadi, Dr. Itieke-Idamieba Harry

Evaluating the Influence of Strategic Health Communication Campaign on Vaccine Hesitancy in Rural Rivers State Communities

Author: Gabriel, Obokuru, Prof. Nsereka, Barigbon Gbara, Dike, Harcourt Whyte PhD, Nwankpa Nduka N. PhD

Integrated Marketing Communications and Subscriber Growth in A Sub-Saharan Telecom Sub-Brand

Author: Rita Korkor Agyei1, Ogochukwu T. Izuchukwu2, Dominic Feboh3, Abiola Idowu4