Three companies that declared bankruptcy during the last ten years are listed above. Choose one of these and find information about the company on the Internet. In hindsight what might they have done differently? Kmart Corporation was the third largest discount retailer in US market. Due to huge debts and erosion of consumers’ confidence, Kmart filed for bankruptcy in 2002 (Probst & Raisch, 2005). According to the assignment help experts followings are the main factors that were responsible for failure of Kmart planning’s. Less efficiency of Supply chain management: Behind the bankruptcy of Kmart, the main contributor was an inadequate management of its supply chain that unable the firm to manage the demands of customers and supply of required products effectively. Its competitor Wal-Mart focused on customers’ requirement and better supply channels, which enabled Wal-Mart to provide its products to customers timely. Lack of IT systems: Behind the failure of Kmart’s planning, lack of IT systems were much responsible. Wal-Mart and other retail players were investing huge money for adapting advanced technology to predict the potentiality of retail markets and for sending important information regarding to customers and markets within organization.
Greater Competition: Due to use of advanced technology, Wal-Mart provides low-cost products to its customers that increased the level of competition in retail market. Price leadership strategy: Kmart was focusing on price leadership strategy and quality products that effectively reduced its competitive capability along with the image of its products. Kmart’s leaders should use restructuring process in its business operations. The first stapes of this process would include redefining strategies related to information technology systems. Through which, it will reconstitute its supply chain that can help to reduce overall labor cost. Gartner, Inc. (2004). Gartner Dataquest Alert. 2.42 Billion Annual Loss. Konicki, S. (2002). Now In Bankruptcy, Kmart Struggled With Supply Chain. Lehavy, R. & Udpa, S. (2011). Kmart: Predicting Bankruptcy, Fresh Start Reporting, and Valuation of Distressed Securities. Probst, G. & Raisch, S. (2005). Organizational crisis: The logic of failure. Sears Holding Corporation (2008). Investor Information. Our main aim is to provide best help to students who wants management assignment help. Get best help from the team of assignment help, mathematics assignment help, mathematics homework help and online assignment help tutors. Please e-mail us if you have any query. We would be very happy to help you with any subject assignment help online and online assignment help.
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