The project involves the description of the supply chain of Ingredion Inc. which deals with the production and supply of sweeteners in Northern America. The supply chain of the company consists of many activities which take place hence contributing to the company’s success in the market. When designing a supply chain there is a description of a process in which a company manages and structures its operations in the supply chain to identify the right balance between transportation, inventory, and manufacturing (Fahimnia et al., 2017). The project will be guided by the objectives which will help in answering the research question. Different strategies are explained in the project in which the company can use for the success of its supply chain operations.
To develop a design of the supply chain for Ingredion Inc. when dealing with sweeteners in North America and evaluate the supply chain practices which Ingredion Inc. can apply in its operations in North America.
The project focuses on designing and redesigning the supply chain of Ingredion Inc. The project is confined in the supply chain, where it will identify the best strategies and policies which can improve the design and operations in the company’s supply chain. The approach the project will give can help the company to enhance its supply chain by implementing them within the organization. The project's target company was Ingredion Inc., which deals with the production of sweeteners. The main aim of developing the plan was on the target company.
Project Motivation and Significance
The project is essential to the employees and management in Ingredion Inc. because they will understand the best ways in which they can apply to design the supply chain in their company. The project will also help the companies in the food, beverage, and pharmaceuticals industry understand the strategies they can use to improve their supply chain. The project is essential in shaping the supply chain's future in the food, beverage, and pharmaceutical industry and thus enhancing better operations that contribute to competitiveness in the market. Ingredion Inc. can rely on the project for strategies in designing the company's supply chain, which can help satisfy the customers, hence improving the business's performance.
The main limitation in the project is lack of enough research materials explaining about the company. When there are enough research materials, this ensures that there is completion of the project because there are different sources for comparison of information. However, depending on the company selected for the project, there are limited resource materials for reference; thus, some information will be assumed.
Ingredion Inc. is a global public company that manufactures and supplies ingredients. The company's headquarters are in Westchester in the U.S (Gourineni et al., 2018). Ingredion Inc. was founded in 1906 as a corn product refining company when leading U.S corn manufacturers merged. Some of the products that the company produces include oil, glucose, sweeteners, and starches (Ingredion, 2015). Ingredion Inc. supplies its products to customers in over 120 countries worldwide. The company was initially known as Corn Products International until 2012 when its name changed to Ingredion Inc. The company has research and development centres located in key global markets (Nithisathian et al., 2018). The company has an estimated number of employees of 11000 around the world, out of which 1100 are short-term workers (Ingredion Incorporated, 2015).
The mission statement of Ingredion Inc. involves bringing together the potential of individuals, nature, and technology to produce ingredients that enhance people’s life. The purpose of the company is to integrate passion and creativity to make life better (Ingredion, 2020). Ingredion Inc. works jointly with other sectors, including food, paper, beverage, animal nutrition, and other industries, by providing ingredient solutions to serve its customer base well. The company's vision eludes that the firm is committed to supplying its consumers with excellence, inventive ingredients that are on fashion, and high demand. The company upholds the virtues of bold creativity and innovation, care, and integrity, which enable the employees to take the responsibility to act in the interest and benefit of the company (Ingredion, 2020). Bold creativity allows workers to strive for relentless innovation and to improve performance.
One of the main strategies of Ingredion Inc. is to foster growth in the ingredient speciality by concentrating on many trends that cause changes in the beverage and food sector. Ingredion Inc. can boast of its excellent value proposition and intends to combine its strength to improve its sales. The firm is aligning its operation policies with the food industry changes since they have significant effects on the company's customer base (Ingredion Incorporated, 2015). Ingredion Inc. stakeholders are optimistic about meeting the firm's growth projections by using endless creativity opportunities in production and supply of high-quality products. Another strategy of Ingredion combined is its unique international reach and local touch. The company supplies its products to various countries worldwide. For instance, research indicates that companies that take the necessary actions to balance their capacity and product demand continue to gain consumer loyalty (Juanamasta et al., 2019). Ingredion Inc. intends to use its ability of technological advantage and market model to connect to consumers locally and globally.
The Current Situation of the Supply Chain of the Firm
Ingredion Inc. uses supply chain analysis to deal with the changes in the demand of sweeteners. The company concentrates on monitoring the changing consumer preference so that it can get the ideal demand from the customers (Ingredion, 2018). The changing consumer preference also makes the company to win the competition of sweeteners in the market. The company applies the hedging policy in the price of corn from the Chicago board of trade. The system has enabled the company to reduce production costs and hence the cost of supply of sweeteners. According to the company website, Ingredion Inc. mainly deals with the production and supply of sweeteners to various parts of the world using corn (Ingredion Incorporated, 2015). The primary raw material in the production of sweeteners is yellow corn. The company has been facing the problem of price fluctuations in its supply chain of sweeteners (Ingredion, 2018). The firm anticipates that the supply of corn in the United States will continue to be steady since it affects the supply chain of sweeteners. The steady supply of corn ensures that the company produces and supplies sufficient amounts of corn to its customers.
Objectives to Achieve the Strategies
One of the objectives when achieving customer relationship strategies involves satisfying the customers. Happy customers become loyal to the products of the organization because of the satisfaction they receive. When the organization enables customer satisfaction, this is the surest way to achieve customer relationship strategies. Satisfied customers become connected to the brand, and this ensures the customer relationship strategies get made (Pansari $ Kumar, 2017). Another objective when the company wants to meet customer relationship strategies involves improving business efficiency. When Ingredion Inc. concentrates on improving its operations for efficient business with the customers, it helps the company achieve its customer relationship strategies. A business needs to focus on essential objectives that ensure a strong customer relationship (Pedron et al., 2016). The plan set for achieving customer relationships is implemented; a set of goals should be followed to ensure the strategies' achievement.
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