Nike Strategic Planning - 1783 Words

Strategic Planning Strategic planning is something the Nike has been something that Nike has put much more emphasis on during the last decade. They realize that by planning well, they can produce higher quality products while improving their bottom line. Nike’s Strategic Planning team establishes a strategic business planning process, authors our one and three year strategic and business plans, and leads transformational initiatives in collaboration with cross-functional teams. Strategic Planning teams are embedded at the global corporate level and throughout their business units. This team frames complex and ambiguous issues, conducts consumer, competitive, and market analyses, fields research, creates financial models, and develops†¦show more content†¦This echoes Nike’s changed view on strategic planning from spending tons of money on mass marketing, to their new idea of developing niche products to provide a higher quality experience for the consumer. Nike also overhauled its supply-chain system, which often left retailers either desperately awaiting delivery of hot shoes or struggling to get rid of the duds. The old jerry-built compilation strung together 27 different computer systems worldwide, most of which couldnt talk with the others. Under operations maven Charles D. Densons direction, Nike has spent $500 million to build a new system. Almost complete, it is already contributing to quicker design and manufacturing times, and fatter gross margins -- 42.9% last year, up from 39.9% five years ago. Nike says that the percentage of shoes it makes without a firm order from a retailer has fallen from 30% to 3%, while the lead time for getting new sneaker styles to market has been cut to six months from nine (Bernstein amp; Holmes, 2004). Note: this source is a few years out of date but it is used to show the change Nike has recently made regarding strategic planning. These improvements have obviously impacted Nike’s bottom line but it also helps to achieve a better relationship with suppliers and retailers because they are able to give more accurate delivery times and material orders which both improve quality. AlsoShow MoreRelatedStrategic/Operational Planning (Nike) Essay696 Words   |  3 Pages Nike: Strategic Operational Planning Albert Dwayne Johnson Jr. University of Phoenix Nike: Strategic Operational Planning: When people think Nike, the first thing that comes to mind is a swoosh. The iconic symbol of the clothing brand can be seen as a way of life in sports clothing, stylish clothing and pop culture. Nike is a highly successful company, with all competitors, like Addidas or Converse, constantly working toward being on the same plane as Nike. TheRead MoreMission Statement Of Home Depot, Inc.1258 Words   |  6 Pagesof Home Depot, Inc. and Nike, Inc. The first step is to give a brief history of each company and the clients they serve. 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