supply chain management discussion questions

Answer 3 questions regarding supply chain management.  due in 24 hours 

15

Reply 1

With any business, supplies are necessary for day to day processes. To have quality
products, it all starts with the quality of the supplies. To make it easier for a company to
chose who they wish to have supply them, companies can perform supplier evaluations to
find the best fit. A supplier evaluation is the “process of evaluation and approving
potential suppliers by quantitative and qualitative assessment (Ecovadis, n.d).
There are a number of considerations when evaluating a supplier. One of these
considerations includes the financial stability of the supplier. Some of the components to
look at when looking at the financial stability of a supplier includes profit and loss
statements, balance sheets, quick ratio, current ratio, total assets of the company, current
liabilities of the company, the net profits after taxes, the current net worth of the
company, and review of the company’s previous financial statements (Carbajo, 2016). A
supply company should be willing to give potential clients the information in order to
evaluate their financial stability. A majority of this information is also public information
as well.
Financial stability is not the only thing that goes into a supplier evaluation. Other
considerations includes the companies competency, capacity, commitment, control, cost,
consistency, culture, sustainability and environmentally clean, and communication (Mind
Tools, 2018). These aspects of the supplier are important to include in the evaluation
because it will allow the company to get an overall sense of the quality and business
performance of the supplier. They will allow the company to avoid making the wrong
choice of a supplier. They will allow the company to compare the needs of organization
with what the supplier has to offer.
In any industry, consumers are looking at the quality and costs of the product
when making a decision which product to buy. Philip Crosby believed that a zero defect
system is possible, but the quality of the physical product all starts with the supplies that
are used (Swink et al, 2017). By evaluating the supplier with the considerations
mentioned, a company is able to identify the supplier that has the best quality supplies.
These considerations are also important because they can allow one to negotiate a price
with the supplier (Mind Tools, 2018). The example that the Mind Tool team provided is
that if a supplier is weak in one or more of these areas, and the company believes that this
could have in impact on the company’s product, then negotiating for a lower price would
be exploited (Mind Tools, 2018).
At the end of the day, supplier evaluations are used by a company to compare
potential suppliers for their production process. An important consideration is to identify
the supplier’s financial stability. Other considerations are also needed when evaluating a
supplier because it gives a better overall sense to the company. This understanding of the
supplier can help the company but allowing them to pick the best supplier for their
specific company, as well as eliminate potential risks to the production.
Carbajo, M. (2016, Oct 17). Supplier Evaluation Risk Rating: Applications and Benefits.
The Balance. Retrieved from https://www.thebalance.com/supplier-evaluation-risk-
rating-applications-and-benefits-4017420
Ecovadis (n.d). Supplier Evaluation. Ecovadis. Retrieved
from http://www.ecovadis.com/supplier-evaluation/

Mind Tools (2018). 10 Cs of Supplier Evaluation. Mind Tools. Retrieved
from https://www.mindtools.com/pages/article/10-cs.htm
Swink, M., Melnyk, S. A., Hartley, J. L., & Cooper, M. (2017). Managing operations
across the supply chain (Third ed.). Dubuque, IA: McGraw-Hill Education.

Please reply back to this post. 300 words… at least one citation. Must include the
following:

What did you learn from this post above? What do you like about the post. What do you
disagree with from the post. Is there anything you would like to add. Any suggestion on
how to improve the system

Reply 2

Logistics management is all around us. There have been many ways that
Logistics management has changed over the last few decades. With the
introduction of the latest technology and high-speed computers we are able to
manage Logistics like never before. Another huge factor into Logistics has been
globalization. Nobody can stop globalization. Some people are worried about
Artificial intelligence. However, whether you worry about it it will come. If you do
not worry about it it will still come. The best way understand Logistics is to know
what is coming and how to best capitalize on the opportunity. Where people
complain that is where the opportunity lies. Logistics management is a Supply
Chain management component that is used to meet customer demands for the
planning, control and implementation of the effective movement and storage of
related information, goods and services from origin to destination. Logistics
management helps companies reduce expenses and enhance customer service
the logistics management process begins with raw material accumulation to the
final stage of delivering Goods to a destination.
By adhering to customers needs and Industry standards, Logistics management
facilitates process strategy, planning and implementation. By seeing where the
opportunity is we are able to best find the logistic answer to use. There are many
factors to consider when looking at why we should change our Logistics process
and globalization would be one of the large ones. With many large countries like
China and India entering the global market it is much easier to deliver

communicate and do business with these countries that are good at trade.
(technopedia, 2018) Other ways Logistics has changed as been with increase
technology. We are now able to communicate like never before in record time.
This is a trend that is expected to continue to rise and will not only in power many
small businesses with also shaped the way business will be done in the future
decades. Before what used to be done by large countries only, is now being
done by small businesses. A farmer is able to sell his Goods all across the world
with the help of a computer. Before these trades were only limited to people who
had power. Now the power is given to the people to better their lives. By getting
many inputs trade is able to advance to new levels that are appropriate for
everyone. Great ways for companies to have effective Logistics management is
properly plan for New endeavors. By planning accordingly companies are able to
accumulate Goods, storage facilities, and deliver products to the necessary
customers in record time. by planning ahead companies are also able to save on
time, transportation, and other costs. This will below for more businesses to
adopt automation. This is where artificial intelligence comes in.
Technology is able to save not only on labor costs but also save people and
allow them to live longer and apply themselves in other areas of the business. By
companies using the proper software they are able to integrate and have timely
updates on moving goods and products. Logistics management is changing in a
positive direction and that is why technology should be embraced. By having the
right team they are able to create value in the relationships. That is why hiring the
right people is important. As the decades have went on warehouse management
has also increased and become dependent on all types of goods. Efficient
transportation is also a vital in order to get Logistics where they need to go.
Everybody wants their product delivered in a fast and efficient manner.
Transportation Department’s can be analyzed to decrease the expenses of the
logistics firms and at the same time, it can be revamped for faster delivery of the
products. Determining the best delivery route, a logistics firm should opt for the
shortest yet safest route. This is beneficial for saving money as well as time.
Cost-effective packaging that it shows low investment and safety of good as well.
Optimize the packaging so that it occupies less volume and it does not increase
the weight of the package. (Robinson, 2017)
By using integrated measure all of this is able to come back together and the
right teams in the logistics management are able to analyze and provide proper
feedback that will save the company more time and money. Measuring the output
is very important for the success of a company. It will determine if a strategy is
successful and if that business will also be successful. As Logistics advances in
the next 20 or 30 years we will see more trade with the world and many new
ideas will come into play. By allowing small companies we will see an
introduction of new business practices that may shock the world. We should all
look forward to the changes that are coming and learn how to best adapt to the
changing situations to put ourselves in a successful situation.

Please reply back to this post. 300 words… at least one citation. Must include the
following:
What did you learn from this post above? What do you like about the post. What do you
disagree with from the post. Is there anything you would like to add. Any suggestion on
how to improve the system

Reply 3

If a supplier passed the financial review and was selected, how would a customer firm know they are still
financially sound after the agreement was in place? 150 words 1 reference