Analyze the role of Maritime supply chains in achieving a competitive advantage in the market.

LO1. Analyse the role of Maritime supply chains in achieving a competitive advantage in the market.LO2. Apply performance monitoring and management in maritime supply chains.LO4. Assess and evaluate the advantages and disadvantages of the various types of networks that can develop in the supply chain.LO5. Assess and evaluate the differences between the liner shipping industry and the tramp shipping industry and their relationship with maritime logistics operations.
Answer & Explanation
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Maritime supply chains play a critical role in achieving a competitive advantage in the market for companies that engage in international trade. Here are some ways in which maritime supply chains can contribute to a competitive advantage:

Cost efficiency: Maritime transportation is typically the most cost-efficient mode of transportation for long distances, especially for bulky and heavy cargoes. This can help companies lower their transportation costs and offer more competitive prices to customers.

Global reach: Maritime transportation

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Step-by-step explanation
allows companies to reach customers and suppliers around the world. This enables them to tap into new markets, access a wider range of inputs, and diversify their customer base, which can help to reduce the risks associated with market fluctuations.

Flexibility: Maritime supply chains offer a high degree of flexibility, as shipping routes can be adjusted to respond to changes in demand or supply. This allows companies to adapt quickly to changing market conditions and stay ahead of the competition.

Sustainability: Maritime transportation is often considered a more environmentally sustainable mode of transportation than air or road transport. This can help companies to meet sustainability goals and improve their corporate social responsibility (CSR) reputation, which can be a competitive advantage in certain markets.

Control over inventory: Maritime transportation allows companies to control inventory levels more effectively. This is because shipping times are generally longer than other modes of transportation, allowing companies to better plan and manage their inventory.

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