Fundamentals of Supply Chain Management - Intel Corporation
School of Business & Economics
Place & date: 24. May 2018
Surname, First name: Andrea Buttinger, David Chao, Floor Konings, Castille Jacquet For assessor only
ID number: i6160888 (Andrea), i6157978 (David), i6151260 (Floor), Castille () 1. Content
Study: Economics and Business 2. Language structure
Course code: EBC1029 3. Language accuracy
Group number: 28 4. Language: Format & citing/referencing
Writing tutor name: Golo Kronenwerth Language Overall:
Writing assignment: Supply Chain Management Project Language advisory grade:
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Table of Contents
1. Summary 3
2. Introduction 3
3. Overall Strategy 3
3.1. Corporate Strategy 5
3.1.1. Moore's Law – A Law of Economics 5
3.1.2. Core Capabilities 6
3.1.3. Virtuous Cycle 7
3.2. Business Strategy 8
3.3. Functional Strategy 9
3.4. Stages of alignment with the Business Strategy 10
3.5. Operations and Supply Chain Strategies 10
3.5.1. Performance Dimensions 11
3.5.2. Trade-offs among Performance Dimensions 13
3.5.3. Order Winners and Order Qualifiers 13
4. Internal production process 14
4.1. Service Package and Service Level 14
4.2. Capacity strategy 15
4.3. Inventory Management 15
4.4. Manufacturing Process 17
4.5. Forecasting Systems 17
5. External supply chain processes 18
5.1. Choosing Suppliers and Building a Network of Suppliers 18
5.2. Logistics at Intel 18
5.3. Social Projects at Intel, Interacting with Customers 19
6. Conclusion 20
7. Works Cited 21
8. Table of figures 23
2. Introduction and Outline
3. Overall Strategy
“Strategies are mechanisms by which businesses coordinate their decisions regarding their structural and infrastructural elements.”
(Cecil C. Bozarth, 2016, p.36)
Intel has, like most other companies more than one level of strategy. This levels go top down, starting from a very broad corporate strategy, which includes the mission, vision and value statement, to a narrower business strategy, which clarifies where in the market to compete in order to gain and sustain competitive advantage. Moreover the business strategy clarifies which customers to serve and deals with core competiencies and the role of supply chain partners. In addition it and sets time frames and performance objectives. One more step down, there is the funtional strategy and the operations and supply chain strategy. All these strategies must be aligned to achieve competitive advantage (Cecil C. Bozarth, 2016, p. 36-39).
Figure 1: Top-Down of Strategy, source: (Cecil C. Bozarth, 2016, p. 37 “A Top-Down Model of Strategy)
3.1. Corporate Strategy
Intel's corporate strategy consists out of a vision and mission statement. The vision statement describes what the firm wants to achieve, and the mission statement points out, how to reach this goal. Intel's “vision is if it is smart and connected, it is best with Intel (Annual Reports & Proxy, 2016).” To achieve this vision, Intel has to “utilize the power of Moore's Law to bring smart, connected devices to every person on earth (Annual Reports & Proxy, 2016).”
3.1.1. Moore's Law – A Law of Economics
Moore's law is an economically law, that has been introduced in 1965 by Intel's co-founder Gordon Moore. He predicted an exponential growth in the importance of computer technology and a decrease in the costs of producing related items. Moore saw this as an opportunity and he began to produce new transistors, which now had a better performance and where much smaller than the previous models. One other improvement was, that he was able to decrease the cost, that the product was now affordable to the majority (50 Years of Moore's Law, n.d.). The economic benefits either arise through reducing production costs by minimizing the size of the products or through increasing performance while keeping the costs on the same level. The improvements that are made with Moore's law are measured using transistors per square millimeter. All in all, Moore's law allows Intel to stay innovative and guaranteeing performance improvements, while keeping costs low (Annual Reports & Proxy, 2016).
This law became, not only for Intel, but the whole electronics industry a highly valued principle and the fundament of innovation (50 Years of Moore's Law, n.d.).
Figure 2: Moore's Law, source: (Annual Reports & Proxy, 2016)
3.1.2. Core Capabilities
Intel possesses many core assets, which allow Intel to fulfill its strategy. One of the most valuable ones is the market leadership in silicon manufacturing technology. Intel manufactures, in contrast to its competitors, most of its products in own plants, allowing Intel to improve performance and flexibility. Another core competency is Intel's intellectual property, which includes patents, trademarks, copyrights, trade secrets, trade dress rights, and mask work rights. The IP is highly protected, since it is crucial for Intel's firm success. Through sharing IP all over the different operating departments, Intel is able to save costs and so increase the return on capital. Moreover, the shared IP allows quick responses to unexpected shifts in the demand. One more core capability is the customer orientation. Intel puts a lot of effort into integrating customers in the development of new products in order to best meet their demands and needs. Next, acquisitions and strategic investments are one of Intel's core capabilities. The reasons for these investments are that Intel hopes to find new business opportunities that bring them further towards their goals. One example of a successful takeover was the acquisition of Altera Corporation in 2016, which helped Intel combining programmable solutions with leading edge items. As a result, Intel was able to produce new products in the Data Center Group and Internet of Things Group. The last core asset is Intel's corporate responsibility. Intel focuses on sustainability, diversity, integration, transparency, corporate governance and ethical behavior. In turn, this creates value for Intel's stockholders, reduces risks and costs and builds a strong brand image (Annual Reports & Proxy, 2016).
3.1.3. Virtuous Cycle
Figure 3: Virtuous Cycle, source: (Annual Reports & Proxy, 2017)
Brian Krzanich, the CEO has some core beliefs for Intel's future, which he puts together in a cycle, called the virtuous cycle. According to him, the cloud is gaining on importance and will have a huge impact on smart devices like PCs, autonomous cars and virtual reality system. He states, that whenever these deceives are connected with the cloud, the cloud is getting even more valuable (Krzanich, 2016). So, data can be analyzed in real-time, making these devices even more functional. Concerning performance and costs of owning cloud workloads, Intel's products are market leaders. To hold this position, Intel has to continuously improve its product portfolio to keep up with the new, growing workloads like artificial intelligence, virtual reality systems, and the 5G network (Annual Reports & Proxy, 2017). Brian Krzanich has a strong belief in the 5 G technology, which, in his opinion, will be the key technology of the future (Krzanich, 2016). 5 G stands for the fifth generation of a wireless technology. Higher speed in the movement of data, lower latency and therefore greater responsiveness and the ability to connect more devices at once, are three changes that come with 5 G (Segan, 2018). In order to meet the needs of Intel's customers, they invest a lot in platforms through which they can offer end to end solutions (Annual Reports & Proxy, 2017). End to end refers to the starting and ending points of a service. One goal of end to end methods is, that the middle layers are eliminated to optimize performance and efficiency (End to end, n.d.). All these aspects from the virtuous cycle are driven by Moore's law, which strives for product innovation and cost reduction (Annual Reports & Proxy, 2017). The virtuous cycle shows the cloud and data center, which Brian Krzanich thinks are the technologies of the future. It also presents the things and devices, which can be connected to the cloud. In the center there are accelerant technologies, which empower the whole cycle, who is bound together by connectivity and affected by customer experiences. This virtuous cycle serves as fuel for the business of Intel and it is crucial to align every business segment with this cycle (Krzanich, 2016).
3.2. Business Strategy
The business strategy deals with the question who the customers are and how the company plans on serving their needs (Rothaermel, 2017). Intel's customers are mainly computer manufacturers and design manufacturers who produce computer systems, cellular handsets and handheld computing devices, telecommunications and networking communications equipment. Other customers are PC and network communications products users. Since it is clear, who the customers are, the question now is, how to serve their needs. Intel does this by offering high quality products, indicating that Intel carries out a differentiation strategy. Apart from that, Intel sets itself apart from its competitors through continuous innovation and improvements of its services and products.
The business strategy also points out the role of the supply chain partners and their relationships. On Intel's website, there is a portal for its suppliers, called the Supplier Quality Portal, which has the purpose of building and improving supplier relationships within Intel's supply chain. Intel has several programs, which have the goal of building strong supply chain partner relationships. One of them is the Supplier Continuous Quality Improvement Program which is responsible for stimulating the suppliers to improve their products and services. When suppliers are able to make these improvements in their performances and quality, they are being rewarded. Another of these programs is for example the QOS Health Assessment. With the QOS Health Assessment, Intel accesses the quality systems of their suppliers and evaluates their effectiveness and searches for areas of improvements (Supplier, n.d.).
3.3. Functional Strategy
The functional strategy deals with several business units. Intel consists of five business units: the Client Computing Group, the Data Center Group, the Internet of Things Group, the Non-Volatile Memory Solutions Group and the Programmable Solutions Group. The Client Computing Group generates 54% of Intel's total revenue and is therefore the largest business unit. The CCG produces platforms and technologies, which can be found in many consumer and commercial products. Examples are processors for notebooks or desktops (Annual Reports & Proxy, 2017).
Figure 4: Revenue and operating income in billions of dollars from the Client Computing group from 2013 to 2017, Source: Annual Report Intel 2017
Next is the data computing group, which accounts for 30 % of Intel's total revenue. This section is responsible for the development of workload-optimized platforms for compute, storage, and network functions. Customers of these products are for example firms, governments or cloud and communications service providers. Since there are so many ways of usage, data constitutes a great opportunity for the future (Annual Reports & Proxy, 2017).
“Data is the lifeblood for the future of technology innovation and actionable insights.” (Annual Reports & Proxy, 2017)
The Internet of Things Group, generating 5 % of total revenues, works on Internet of Things compute solutions for retail, automotive, industrial and many more applications. The Non-Volatile Memory Solutions Group develops products that drive innovation in solid- state drives (SSDs), accounting 6 % of total revenues. Finally, there is the Programmable Solutions Group, earning 3 % of total revenues, which produce programmable semiconductors for a wide range of market segments, like military, communications and data center (Annual Reports & Proxy, 2017).
3.4. Stages of alignment with the Business Strategy
The goal of every company is to build a supply chain strategy that aligns with the overall business strategy. There are several stages, to which extent the supply chain strategy can be aligned with the business strategy: internally neutral, externally neutral, internally supportive and externally supportive. Intel reached the stage externally supportive, because Intel's business strategy actively seeks to exploit core competencies found in every segment of the firm (Cecil C. Bozarth, 2016).
3.5. Operations and Supply Chain Strategies
The mission of Intel's supply chain is to guarantee that 100 % of the materials, the equipment and services used by Intel and its customers will have the expected performance at the lowest possible cost. To achieve this mission, a clear and communication within Intel's supply chain is indispensable (Supplier, n.d.). In the supply chain strategy, it is important to target customers and identify what they value on the company. The things, the customers value the most on the firm, are probably those things Intel uses to define itself.
First of all, there is quality & continuous improvement. Intel's goal is to achieve the best quality and performance. The firm wants to reach this by investing in innovation and by continuous improving. All these aspects lead to flawless high-quality products which are greatly valued by their customers.
Second, the customers value that Intel is a risk-taker. Even if some outcomes of risky projects are unfavorable, risk taking is indispensable and unavoidable for someone who strives to be innovative and wants to grow. Customers value Intel's turn away from the status quo and that they welcome changes and challenges, which often lead to success.
Third, Intel's consumers enjoy the discipline, that the firm is implying. Intel's goal is to execute their business with highest righteousness and authority. Professionalism and a safe and clean workplace have priority.
Fourth, for intel's customers it is important, that Intel works closely with its stakeholders. Listening to customer's needs in a cooperative and supportive way, is critical to provide competitive and innovative products and services they value. Intel puts a lot of effort in ways, that customers can easily communicate with the firm in order to increase customer satisfaction.
Moreover, Intel's customers appreciate their ambitiousness. Intel always sets challenging competitive goals and works hard to achieve them. They introduced a method named constructive confrontation, which helped them recognizing problems and fixing these in an efficient and effective way (Intel's values, 2018). Now, on what dimensions do the customers value Intel's performance?
3.5.1. Performance Dimensions
There are four performance dimensions relevant for Intel's supply chain activities, namely quality, time, flexibility and cost. Since Intel offers a huge variety of product groups, the analysis of the different dimensions will only take its focus on processors.
Quality is one of intel's main differentiators, because Intel stands for highest performance and functionality. There are three types of quality: performance quality, conformance quality and reliability quality. The performance quality identifies the basic operating characteristics, which are for Intel's processors that they manage and execute commands on electronical devices. The conformance quality indicates specifications on the processors, which are for example, that some of them can be used for photo editing, playing complex video games, watching HD or 4K videos. Concerning the reliability quality, Intel's products are generally produced to last a long time, even if they are normally not used until the end because they are being replaced by newer technologies. Intel guarantees a certain lifetime by offering warranty. This warranty can be extended two additional years to the standard warranty. During this time, Intel replaces faulty products or repairs them, depending on the warranty terms and conditions (Procesors, n.d.).
One more dimension is time: delivery speed and delivery reliability. Intel's shipments are performed by companies like FedEx, DHL or UPS. After Intel receives an order, it takes about one business day to process the order and two other days to ship it. Factors that pay a role to the delivery time are the buyers location and whether the product is in stock. At the moment, Intel ships in over 70 countries all across the world. If someone wishes to receive the package earlier, he or she can purchase a premium delivery service. Customers also have the opportunity to track their orders and see the current location of their products. When it comes to delivery reliability, customers can always contact the customer service whenever there is a problem with the delivery (FAQ, n.d.).
Next, there is the cost dimension. Costs are unavoidable in an innovative company like Intel. Moore's law says that the company should try to be as economic as possible and drive down costs whenever possible. Intel tries to reduce cost by producing related products in which the intellectual property can be exploited. Their commitment to corporate social responsibility also saves resources and therefore decreases costs. Investments in energy efficiency helped Intel decrease energy costs of $120 million annually (Annual Reports & Proxy, 2017).
Figure 5: Income Statement 2017, source: (Annual Reports & Proxy, 2017)
In the income statement of 2017 it becomes clear, that most of the costs incurred by cost of goods sold and operating expenses. The high research and development expenses indicate that Intel is a very innovative technology firm, that seeks continuous improvements.
The last performance dimension is flexibility: mix flexibility, changeover flexibility and volume flexibility. Mix flexibility means that a wide range of products can be produced, which is not so much the case for Intel, since they mainly focus on processors and clouds. Intel's products are also not very changeover flexible, since the products are quite standardized. A volume flexibility, meaning that the firm can offer as many items as demanded, is probably applicable.
3.5.2. Trade-offs among Performance Dimensions
Since not all dimensions can be fulfilled simultaneously, trade-offs are necessary. Intel values quality very much and therefore the firm has to neglect the dimension of time sometimes. Nevertheless, time is still very important especially in the technology industry. Competition is high and technical items are quickly replaced by new innovative products. Moreover, cost reduction would mean less research and development expenses, which are crucial to stay innovative and to bring new products on the market.
3.5.3. Order Winners and Order Qualifiers
Order qualifiers are those performance dimensions, that are expected by the customers. If these are not present, the customer is not willing to buy the product (Cecil C. Bozarth, 2016, p. 43). The performance dimension on which Intel decides, whether to buy at a certain supplier is probably quality, because Intel is characterized by its high quality. Moreover, their suppliers must fulfill several standards in order to become a business partner. Examples are the Intel Code of Conduct and the Electronic Industry Citizenship Coalition. These standards address the rights of workers, environmental responsibilities and issues concerning privacy and data security. To control the compliance, Intel makes periodic assessments and audits to their suppliers (Annual Reports & Proxy, 2017). The performance dimensions, that allow a company to differentiate itself from competitors, are called order winners (Cecil C. Bozarth, 2016, p.43). Flexibility, costs and delivery speed are probably those dimensions, on which Intel decides which of the preselected suppliers to choose.
4. Internal production process
4.1. Service Package and Service Level
Intel offers range packaging technologies to meet a diversity of needs across from factors and market segments. What matters the most for this company is answering the needs of its customers by offering them the edge and cost-effective multi-chip packaging. Hence, Intel service offering is specific to every request from the customers. The first service, called the Electrical Signal Integrity Modeling, assures to meet the specificities of the customers by providing a fully validated package-level high-frequency transmission-line models for each critical interface sold. Secondly, the Electrical Power Delivery Modeling is an analyzing system that helps the customer to determine an optimized package design when purchasing one of Intel's products. Finally, the two last services, Thermal Modeling and Package to Board Enabling provide detailed information on the respective products offered by Intel. The combination of the four services offers Intel the possibility to better meet the various expectations of consumers.
Moreover, Intel has adopted a data-driven approach to determining the right service level for products across its business units. This model was first applied at Intel in 2006 and has remained in continuous use for the past ten years. The approach begins by computing inventory-driven costs and stockout costs. The first cost reflects the inventory cost associated with providing a specific service level. The second costs are a lost in income and are associated with a shortage of inventory. Three outcomes are possible: lost sales, deferred sales, or sales distributions. The first outcome implies that the customer has decided to purchase the product from another distributor that can result in a pure lost sale for customers ordering this product; Intel calls this as a walk-away scenario. The second highlights a delay in the revenue of the current customer's purchase. This delay creates a time-value-of-money cost to deferred sales. Finally, the sales distribution outcome describes a substitution of the initially requested product with on that is similar in nearly all the characteristics except price and performance. This situation is called a buy-down scenario. It results in lower net margin from the sale. Overall, computing the service level strikes the right trade-off between inventory-driven cost and stockout cost. Minimizing those cost would increase Intel's service level as a result of an increase in the customer's satisfaction.
4.2. Capacity strategy
Capacity strategy refers to the ability of the firm to take into account its limited organization resources as well as its organization processes in order to fulfil the demand. Applied to Intel's company, capacity management is handled thanks to a multifaceted approach to wide area network (WAN). WAN connects more than 200 sites located in 66 countries. All sites are connected with the central network. It enables Intel to control costs while supporting customer needs. WAN is also a flexible tool that can be grown when necessary; for example, in case of a special command for an innovative project from a company. Moreover, WAN is used to forecast future demand. Hence, Intel can plan its capacity depending on bandwidth requirements and utilization trends. Therefore, Intel acquires an annual average capacity growth of 10% thanks to the effective utilization of WAN. Also, the company controls the network costs by reducing its costs by 23% every year (Intel IT, 2012).
4.3. Inventory Management
Inventory management refers to the process of ordering, storing and using a company's inventory: raw materials, components and finished products. Applied to Intel's company, two types of inventory systems are used. The first type of inventory system is Intel's own internal inventories. It represents the raw materials, chips that are still being manufactured, and chips that are finished. Hence, this inventory happens at the beginning of the supply chain after the manufacture and production planning is accomplished.
Figure 6: Intel's inventory
In addition to Intel's own inventories, there is a concept known as “channel inventory”. This type of inventory refers to the reception of the goods that are stocked in warehousing before being sold to end customers. According to Intel, the channel inventories describe the stocks of chips that its partners have on hand. After what, the chips would be distributed to the several distributors supplied by Intel. Overall, this inventory management promotes the ability of Intel to answer its customer's needs and satisfy them by strategically reach a sustainable capacity level (Eassa, 2016), (Intel, 2018), (Willems, 2017).
4.4. Manufacturing Process
Intel has the most sophisticated manufacturing process for making processors in the world. At first there is sand, which contains high percentages of silicon in the form of silicon dioxide. This is used as the base ingredient for semiconductor manufacturing. After acquiring the sand and separating the silicon, the silicon gets purified. After purifying the silicon, they melt it. The crystal that results from the melting process is then moved to the slicing phase where the crystal is cut into thin slices. These slices are called wafers. After the cutting, the wafers are polished until they are flawlessly smooth. Intel can now buy the wafers from third-party companies. Intel adds a very thin coating of photoresist finish to the wafers. The finish will be exposed to ultraviolet light and some of the finish will become soluble. This process will be repeated until several layers are stacked on top of each other. The photoresist layer protects the parts of the wafer that should be preserved. The other parts will be etched away by chemicals. After this, ion particles are exposed to the wafer, so the silicon can change its chemical properties so that the processor will be able to control the flow of electricity. After the ion implantation the photoresist will be removed, and the transistor is now closed to being finished. Three holes are made into the upper layer of the transistor, and they are filled with copper which ensures the connection between transistors. Now, the wafers are ready to be tested. After tests confirm that the wafer functions the way it is supposed to, the wafer is cut into pieces called dies. Bad dies do not get through the tests and are discarded. A substrate, a die and a heat spreader are put together to form a processor. Such microprocessors are the most complex manufactured products in the world (Shinde, 2017).
4.5. Forecasting Systems
The forecasting of sales enables Intel to make their decisions based on these forecasts and to be able to foresee short-term and long-term performance. Intel bases its forecasts on, among others, data of past sales and economic trends. (https://trackmaven.com/marketing-dictionary/sales-forecasting/) It becomes more and more difficult to forecast demand for new products because the technology developments decrease the time needed to develop a new product. For electronic goods, which Intel produces, this happens even faster. Intel has implemented an ‘information aggregation mechanism' (IAM) to, among others, forecast its sales for the upcoming period. The IAM was designed to sum information. The IAM does not only forecast the future sales but also shows why these sales are forecasted. (Gillen, 2013) (http://www.eco.uc3m.es/temp/IAMField_v2matt.pdf)
5. External supply chain processes
5.1. Choosing Suppliers and Building a Network of Suppliers
Intel with its huge system of more than 10000 suppliers has a complex and hard to manage system of suppliers. Their suppliers are spread all over the globe and are often themselves big businesses. The partnership of Intel and its suppliers begins with the selection of the supplier. To become a supplier of Intel, the supplier not only needs to fulfil the common criteria among suppliers like low costs, reliability and financial stability. Moreover, Intel demands from its suppliers that they work in an ecologically friendly way and ensures that their employees can work under human conditions. Summarizing, Intel aims to not only choose the most profitable suppliers but merely chooses the supplier which matches closest to its core beliefs. Due to its big seize Intel represents a big profitable customer for suppliers with considerable buyer power. Intel is aware of this fact and tries to dictate in a way their beliefs to their suppliers (Intel, 2017). By creating a kind of competition among their suppliers' Intel tries to continuously send incentives to their suppliers to improve their performance. Annually the best suppliers in different categories are awarded with prices from Intel for example the “Supplier Continuous Quality Improvement Award”. To conclude, it is likely that Intel follows a leverage sourcing strategy. Intel creates a competitive atmosphere for their suppliers. Suppliers which cannot perform to Intel's approval have to expect to be replaced in the future. Although Intel puts pressure on their suppliers, it also builds long relationships with their suppliers which perform to their approval by rewarding them with earlier mentioned prices (Intel, 2017).
5.2. Logistics at Intel
Intel production takes place in seven countries: China, the USA, Vietnam, Malaysia, Costa Rica, Ireland and Israel. From those locations Intel either ships their products immediately to computer manufacturers or Intel retailers. Products that are not send to retailers or computer manufacturers are stored in Intel's warehouses. Intel's warehouses are located in Europe, Asia and America. During rush times Intel can use inventory from its warehouses to fulfil demand. Intel does not send their products to individual customers (Intel, 2017). To distribute its products around the world Intel uses the help of retailers. Those retailers however differ from country to country. Two big of them are Arrow or ASI Corporation. It is possible that retailers from Intel operate in several countries (Intel, 2017).
Lead times for Intel are strict. Customers of Intel like Dell or Apple depend on Intel's chips. Without them their facilities have to stop and cannot continue their work which can result in huge financial losses. Lead times for Intel were not available online. The enterprise estimates the lead time of Intel to be between 1-2weeks. Late deliveries could result in damaging? Intel reputation. It is essentially that Intel can also rely on their retailers, that they deliver the products on time. To provide reliable lead times Intel should rely mostly on air transportation. Although this method is by far the most expensive transportation method, it is also the most reliable and fastest method. Furthermore, Intel's products have a low weight to value ratio which strengthens our Corporations believe to rely mostly on air transportation. Of course, this does not mean that Intel cannot consider other transportations to be an option. Truck shipment could also be attractive due to its flexibility and low costs compared to air transportation. Water transportation seems to be a transportation method which is not suitable for Intel. Long shipment duration and a typically high weight to value ratio speak against this option.
5.3. Social Projects at Intel, Interacting with Customers
To communicate with the end customer and suggest a “good picture” of Intel. Intel has started different social projects. In most of the projects Intel encourages and helps people from the society, especially young people, that have no possibility of living out their innovation to live out their innovation. As Intel puts it: “Intel is redefining what it means to be an innovator by expanding who has access to technology skills and experiences.” Intel does also believe in the future and therefore invest in students at universities and provides free Intel technology in a couple of universities. (Intel, 2017)
7. Works Cited
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Annual Reports & Proxy. (2017). Retrieved 05 2018, from Intel: https://www.intc.com/investor-relations/financials-and-filings/annual-reports-and-proxy/default.aspx
Eassa, A. (2016, May 28). Understanding Intel Corporations inventory situation. Retrieved from https://www.fool.com/investing/general/2016/03/28/understanding-intel-corporations- inventory-situati.aspx
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Krzanich, B. (2016, 06 21). We Are Intel: CEO Brian Krzanich talks about the future of Intel. Retrieved 05 2018, from Intel: https://blogs.intel.com/jobs/2016/06/ceo-brian-krzanich-talks-future-intel/
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Willems, D. A. (May 18, 2017). Intel calculates the right service level for its products.
8. Table of figures
Figure 1: Top-Down of Strategy, source: (Cecil C. Bozarth, 2016, p. 37 “A Top-Down Model of Strategy) 4
Figure 2: Moore's Law, source: (Annual Reports & Proxy, 2016) 6
Figure 3: Virtuous Cycle, source: (Annual Reports & Proxy, 2017) 7
Figure 4: Revenue and operating income in billions of dollars from the Client Computing group from 2013 to 2017, Source: Annual Report Intel 2017 9
Figure 5: Income Statement 2017, source: (Annual Reports & Proxy, 2017) 12
Figure 6: Intel's inventory 16
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