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ADVANCED SUPPLY CHAIN MANAGEMENT
Internal Assignment Applicable for December 2020 Examination
1. In supply chain, sourcing is one of the important processes. The reason is that a wrong selection of suppliers can result into sub-optimal use of organizational resources and unnecessary costs. Make a sourcing strategy for your organization which is a manufacturer of consumer products.
Answer 1 – Sourcing strategy
Introduction
The sourcing strategy of an organization is institutional procurement that continuously interrogates and improves an organization’s procurement activities. Strategic made in sourcing is very important for a company to earn a profit. It also indicates the base of the supplier by fulfilling the business requirements following their needs. Correct selection of suppliers is essential for the
2. Your organization is planning to launch a new product by end of the year. The product is new and innovative and there is no historical data for forecasting. What are some of the popular qualitative methods that you will suggest your organization to carry out for good forecasting to predict or estimate the demand for the product? Explain the advantages and limitations of the same.
Answer 2- Forecasting Method
Introduction
For new and innovative products, some qualitative methods are to be adopted to predict and estimate the demand for the product. Qualitative method is used for forecasting the demand when there is no such availability of data before work or opportunity to gather the opinions of experts. All organizations introduce
3. It is crucial for organizations to improve their supply chain performance to meet increased customer demands on time. They should regularly evaluate the performance of their supply chains using various metrics.
a. What are the different metrics you would use for measuring the inventory levels? Give examples. (5 Marks)
b. Your organization wants to improve the effectiveness of their supply chains and wants you to incorporate business concepts for process re-engineering using SCOR Model. Explain the stages of supply chain you would focus on.
Answer 3 –Supply Chain Management
(a)Metrics to measure inventory levels
Introduction
Inventory turnover is defined as the number of inventories sold and left out in the warehouse within a period. This is obtained by dividing the total cost of materials by the average inventory.
Concept Analysis
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