While this is a feasible solution there are potential pitfalls including networking congestion, timeouts, bad timing (BOL has a great example of how a wait delay can actually run longer than expected due to networking complications), locking etc..
To be honest the best and most robust solution would be to create an SSIS package to control the flow of the entire process. You can even save the package in SQL server and schedule it.
The benifits of a SSIS package:
1.This allows for error checking because you know exactly where the process failed and can even write the errors to a table and/or send a notification.
2.You never have to worry about timing, as you can control percisely when tasks fire.
3.You do not have to change your scripts because you can add tsql tasks to an SSIS package and still control the flow.
SSIS is a more scaleable solution and adds more data flexiblity.
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