Scenario: You are the supply chain manager for a small business that manufactures eco-friendly cleaning products. Recently, your company has decided to enter a partnership
The post GAME THEORY first appeared on COMPLIANT PAPERS.
Scenario:
You are the supply chain manager for a small business that manufactures eco-friendly cleaning products. Recently, your company has decided to enter a partnership with a large national retailer to expand distribution. As you begin to negotiate the terms of this new partnership, you notice that the retailer is primarily focused on securing the lowest possible price for your products, which puts pressure on your profit margins. To navigate this situation, you must apply concepts from game theory to create a win-win relationship and build trust between your business and the retailer.
Analyze how game theory, specifically the concepts of zero-sum and non-zero-sum games, applies to this supply chain relationship. Discuss how you can foster a trusting, long-term partnership with the retailer by avoiding a win-lose dynamic. In your paper, incorporate the ideas of W. Edwards Deming on minimizing total costs and building relationships based on loyalty and trust, and explain how this approach benefits both parties.
The post GAME THEORY first appeared on COMPLIANT PAPERS.
