The key strengths of my company are having a extremely strong relationships with distributors. Also having excellent staff who are well trained and customer attentive. They also get great discounts, which I will increase job satisfaction and lastly having an efficient, stylish boutique.
My weaknesses are struggling to build brand equity. Also the inability to provide instant gratification by having all sizes in stock and forecasting fashion is difficult but necessary to profitability.
Threats that I face with the industry is introduction of a competitor to the market with a similar business model. Completely misjudging where fashion is headed.Constant delays in the shipment of product or the unavailability of many of the advertised designs.
The critical step I will use for my supply chain and operating system is to first use the right technology. Many companies still rely on paper spreadsheets to manage shipments and plan manufacturing. This is an incredibly inefficient process compared to the use of top-grade supply chain software. Such programs should be included in any small business technology procurement strategy because they allow for many supply chain processes to be automated and adapted as needed.
The source noted that there are many affordable software solutions available for small enterprises. These products will help owners such as myself reduce the time spent managing shipping schedules and may even mitigate the chance for erroneous calculations that often result from using physical spreadsheets.
Secondly, I want to understand regulations. Even the smallest companies are able to purchase supplies from foreign vendors. For many companies, this is a cost-effective alternative, as the rates for some materials can be much lower in other countries.
However, Travelers Insurance noted that it’s necessary for supply chain managers to be aware of the fact that goods produced overseas are still subject to U.S. regulations. That means that if a foreign supplier has questionable labor or environmental standards, a domestic importer could be in violation of U.S. laws simply by purchasing products from suspect suppliers.
Small business compliance is integral when purchasing parts from other markets. Travelers suggested that executives should constantly investigate supplier policies and practices to ensure they are doing business with reputable organizations.
Lastly, I want to diversify my vendor base. n the modern business word, it’s inevitable that supply chain mistakes will be made. Whether the wrong product gets delivered or a shipment gets delayed, there are a number of factors that can inhibit supply chain management.

One effective way to reduce the impact of supply chain errors is by partnering with multiply suppliers. According to Small Business Trends, it’s beneficial for businesses to have a back-up option to got to if a regular vendor is unable to provide services in a timely fashion for any reason. If one outlet runs out of a product that is essential for operation due to high demand, businesses may be still be able to meet their consumers’ needs if they have a strong relationship with an alternate supplier.

Also, such a dynamic structure can help businesses determine if one vendor’s rates are more affordable, which could help them negotiate lower prices in the future.

Poor supply chain practices can limit the number of products and services that a company can offer, which can ultimately hurt small business sales. For this reason, it’s important to structure robust supply chain strategies to ensure businesses are agile enough to tailor to clients.
I plan to use outside venders through various channels such as wholesale, catalog and internet.
My companies price plan stratigy is borh