Managing Our Supply Chain

In class we are discussing supply chain management and how it impacts our business. It will be imperative that we determine what this is going to look like for HMF, especially if we plan on carrying our own brand of products, not to mention other suppliers we will need to build relationships with in terms of the tools used in the store such as hair clippers, razors, and such.

One thing that Evan suggested that we do is to perform a SWOT analysis on our supply chain once we have it hammered out and to also do a SWOT analysis on similar businesses in our market and to look for what might give us a competitive advantage as well as what might need to be tweaked and tuned up in order to strengthen the foundation of our business model.

One last thing that we really need to be aware of with regards to our products is what kind of taxes and tariffs we are looking at if certain products need to be imported. An example given was cheese imported from Europe typically has a import tax of approximately 298% in order to bring it in to the country, meaning that markup would have to be greater than that in order to turn any sort of profit on the product.