Business organisations prosper in proportion to their ability to add value to products. The value they create is measured in terms of consumer satisfaction. Therefore if you can find out what consumers want and need and are able to satisfy these requirements then you will have a winning formula.
This case study shows how Waitrose working in partnership with Noon Products has developed a winning formula in providing a new range of Regional Recipe Indian Meals. Today Indian Meals provide one of the fastest growing sectors of ready made meals bought by consumers. Increasingly, UK consumers are growing in sophistication and are seeking a variety of authentic top quality dishes.
With increasing disposable income, more and more families want to spoil themselves by buying up-market recipe dishes. This has provided a considerable opportunity for a quality retailer to capture the top-end of the Indian recipe dish market. Waitrose has therefore made a sound business choice by working closely with Noon Products, a company with a leading reputation in this field.
Any business involved in adding value will require:
- Excellent links with suppliers.
- Excellent internal links between activities inside the business organisation.
- Excellent links with customers.
Links with suppliers
A business needs to make sure that it gets inputs of the right quality, at the right price and at the right time. For example, a company such as Waitrose will insist that the goods it buys from outside sources meet its own very high standards. If these standards fail to be met it will not deal with that supplier.
In order for Waitrose to satisfy its customer needs, good links are essential for every activity within the supply chain. For example, receiving goods from the supplier, storing these goods, unpacking and displaying the goods, and selling the goods.
Links with customers
Finally, there needs to be a very close liaison with customers so that the goods can be transferred smoothly to the next stage in the chain with no hold ups or complications.