15 May Attached is the start This paper must be the final version of your Entering a Foreign Market Through Exports: A Rough Draft of Final Paper assign
Attached is the start
This paper must be the final version of your Entering a Foreign Market Through Exports: A Rough Draft of Final Paper assignment from Week 2. It should conclude the work you started in Week 2. As a reminder, this is the scenario for your final paper:
High-Tech Tools, Inc. is a company based in Otay Mesa, California. Among other high-tech equipment, the company specializes in manufacturing of the hand-held radar speed gun, a device used to measure the speed of moving objects. The radar speed gun is mostly utilized in law enforcement to measure the speed of moving vehicles. It is also often used in professional sport for measuring bowling speeds in cricket, speed of pitched baseballs, and speed of tennis serves. The company has seen a clear trend in the competition’s exportation of similar goods around the world. As the manager of international logistics for this company, you have been asked by senior management to help identify a foreign country where the High-Tech Tools, Inc.’s export sales of radar speed guns may become successful.
The goal of this paper is to identify a new country for export of high-tech equipment manufactured by an American company and formulate a successful global supply chain management strategy.
Using the material developed for Weeks 1 through 5, write an eight- to ten-page recommendation to High-Tech Tools, Inc.’s senior management advising them of a potential export country based on research conducted throughout this class. Your proposal should start with a one-page executive summary (for assistance, see the Writing Center’s Writing an Executive Summary (Links to an external site.)) that identifies a new export country and provides a concise overview of the key points of your paper. The main points of your proposal must address the following:
- Present an executive summary that identifies a new export country.
- Describe the benefits of exporting hi-tech equipment to the chosen country from the perspective of international trade theories and economic agreements.
- Explain any advantages or deficiencies in a transportation, communication, or utilities infrastructure in the selected country that may affect international logistics operations.
- Prepare an assessment of the supply chain strengths, weaknesses, and factors of competitive advantage existing in the chosen country.
- Recommend the sales contract terms related to the method of payment and the use of Incoterms® 2020 rules.
- Develop a transportation plan for moving goods efficiently and effectively, in an intermodal shipment from the manufacturing facility in Otay Mesa, California to the port of final destination in the chosen country.
- Explain your rationale for implementing the transportation plan.
- Conclude your proposal with an informed decision regarding exporting to the chosen country based on your presented data.
Note that the first three items and the final item above were developed earlier in Week 2 and possibly revised for improvement following your instructor’s feedback.
The Entering a Foreign Market Through Exports final paper
- Must be eight to 10 double-spaced pages in length (not including title and references pages) and formatted according to APA Style (Links to an external site.) as outlined in the Writing Center’s APA Formatting for Microsoft Word (Links to an external site.)
- Must include a separate title page with the following:
- Title of paper in bold font
- Space should be between title and the rest of the information on the title page.
- Student’s name
- Name of institution (University)
- Course name and number
- Instructor’s name
- Due date
- Title of paper in bold font
- Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.
- Must start with a one-page Executive Summary (Links to an external site.) and include a conclusion paragraph in the end of the paper that highlights the significance of your proposal.
- For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Executive Summary (Links to an external site.) refer to the Writing Center (Links to an external site.)
- Must address the topic of the paper with critical thought.
- Must use at least six scholarly sources in addition to the course text.
- The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for your assignment.
- To assist you in completing the research required for this assignment, view this University Library Quick ‘n’ Dirty (Links to an external site.) tutorial, which introduces the UAGC University Library and the research process, and provides some library search tips.
- Must document any information used from sources in APA Style as outlined in the Writing Center’s APA: Citing Within Your Paper (Links to an external site.)
- Must include a separate references page that is formatted according to APA Style as outlined in the Writing Center. See the APA: Formatting Your References List (Links to an external site.) resource in the Writing Center for specifications.
Running Head: ENTERING A FOREIGN MARKET THROUGH EXPORTS: A ROUGH DRAFT OF FINAL PAPER
ENTERING A FOREIGN MARKET THROUGH EXPORTS: A ROUGH DRAFT OF FINAL PAPER
Entering a Foreign Market through Exports: A Rough Draft of Final Paper
University of Arizona
Instructor: Jason Sheedy
April 25, 2022
The roles and responsibilities in supply chain management include international logistics production, transport, purchasing, and strategic decision-making. They also include continuous improvements and modifications of existing procedures to achieve cost-effectiveness, achieve distribution targets to meet demand requirements, enhance accuracy, and bolster customer service. The position also requires effective inventory control in the storage, movement, and processing of goods. This report will identify a new export region (Japan) for High-Tech Tools Inc.'s hand-held radar speed gun. The merits and demerits of exporting to the chosen country will be evaluated, and an implementation plan will be proposed to export the goods.
Merits and Demerits of Exporting to Japan
Japan has a long-standing history of economic trade with American-based companies. It ranks fourth on the World Bank (2019) list of major US trading partners for exports. This makes it a viable export market that should be exploited using a comprehensive plan. The first benefit of exporting to Japan is the potential to increase sales due to an increased target market. Exporting the hand-held radar speed guns to Japan will widen High-Tech Tools Inc.'s market scope, expanding its customer base. Moreover, the company's exports to Japan will ensure it is not tied up to the economic fluctuations in the US, hence spreading its risks.
Exporting to Japan will naturally translate to the company's expansion as it hires additional human resources to handle its overseas operations. The company's expansion will come with economies of scale benefits, including discounts from large raw material purchases. Such benefits will eventually lead to reduced production costs. According to Siba and Gebreeyesus (2016), exports relax the balance of payment constraints by promoting economic growth through increased foreign exchange. High-Tech Tools Inc. will also access new knowledge and technologies through its strategic export engagements with companies in Japan.
While the plan to export to Japan will yield significant benefits to the company, there will be challenges. The most immediate challenge will involve the costs incurred in setting up its international branch in Japan to distribute promotional materials and handle administrative tasks. A physical presence in Japan will be necessary to meet the local safety codes and restrictions. Such a presence will also be necessary to remedy potential challenges in collecting payment from the US or obtaining reliable Japanese market information to inform strategic decision-making.
Factors Affecting International Logistics Operations.
A review of the costs incurred in entering the Japanese market will be necessary to prevent market fluctuations from adversely affecting the High-Tech Tools Inc. international logistics plan. Such a review will be essential to implementing international supply chain management procedures that maximize profit at low operational costs. International expansion factors can be categorized into technology, market, competitive, and cost drivers (Pierre, 2021). Therefore, the port of Chiba is an appropriate landing area for High-Tech Tools Inc.'s exports to Japan. Its position as a major seaport handling major imports to the country and the availability of prefectural government offices in the area make it the perfect location to handle the company's exports.
High-Tech Tools Inc.'s to Japan will be influenced by the availability of adequate sales personnel and marketing affiliates to respond to customer demands quickly. Such a team will also be necessary to develop and operationalize effective communication channels with customers in Japan. Moreover, a robust information technology infrastructure will be required, complete with specialized support to integrate various communication and operational systems into the Japan office, including supply chain management systems. An effective information system will be necessary to manage the market and assembly data necessary to develop and implement plans and guidelines.
Combining crates and multiple shipping by sea and rail will be appropriate for initial exports to Japan to save costs. The consignment will naturally not be too large since the hand-held radar speed guns will not be too bulky. However, the crates will need to be strapped down during transit to provide support. The package will also be labeled accordingly in Japanese and English, with instructions to handle with care and prevent water damage. Carriage and Insurance Paid To (CIP) incoterms will be proposed in exporting the hand-held radar speed guns to insure lost or damaged merchandise. The plan to enter the Japanese market will need to consider the relevant applicable laws and keep the required export records. A record-keeping compliance program will be proposed to streamline compliance with all applicable regulations and track necessary documentation and permits.
Effective supply chain management will be necessary to put the necessary structure for High-Tech Tools Inc. to enter the Japanese market. It will be essential to develop strong relations with customers and other logistics suppliers to support the company's supply chain. Such relationships will also be critical to building the company's brand through product promotion and cost setting. Long-term relationships with international shipping companies will also be beneficial to the company's supply chain.
Pierre, D. (2021). International logistics: The management of international trade operations (4th ed.). Cicero Books, Llc.
Siba, E., & Gebreeyesus, M. (2016). Learning to export and learning from exporting: The case of ethiopian manufacturing. Journal of African Economies, 26(1), 1–23. https://doi.org/10.1093/jae/ejw022
World Bank. (2019). United States trade balance, exports, imports by country 2019 | WITS Data. Wits.worldbank.org. https://wits.worldbank.org/CountryProfile/en/Country/USA/Year/LTST/TradeFlow/EXPIMP/Partner/by-country