Reflect on a company you work or worked for in the past or even a company you purchase goods from on a regular basis. Give an example of a single sourcing strategy and multiple sourcing strategy for an item or service. Comment on whether the strategy should be continued.
Answers
During my time working for Company X, we implemented both single sourcing and multiple sourcing strategies for different items or services.
Single sourcing strategy: One example of single sourcing was for a critical component used in our manufacturing process. We had a long-term agreement with a specific supplier who provided us with the component exclusively. This allowed us to establish a strong relationship with the supplier, streamline our procurement process, and negotiate favorable pricing and terms. However, relying on a single supplier also posed risks, such as potential disruptions in the supply chain if the supplier faced production issues or went out of business.
Multiple sourcing strategy: In contrast, we adopted a multiple sourcing strategy for non-critical and readily available items. For instance, we sourced office supplies from multiple vendors to take advantage of competitive pricing, maintain flexibility, and mitigate the risk of supply disruptions. This approach allowed us to diversify our supplier base and leverage market dynamics to optimize costs. However, managing relationships with multiple suppliers required additional coordination and monitoring efforts.
In my opinion, both strategies had their merits and should be continued based on the specific context and requirements. Single sourcing can be beneficial for critical components or services where stability, quality, and long-term partnerships are essential. However, it is crucial to regularly assess the risks associated with single sourcing and have contingency plans in place to mitigate any potential disruptions.
On the other hand, multiple sourcing provides flexibility, mitigates supplier-related risks, and fosters competition among suppliers. This strategy can be advantageous for non-critical items or services where price and availability are the primary considerations. However, it requires effective supplier management and ongoing monitoring to ensure consistency in quality and timely delivery.
Ultimately, the decision to continue a single sourcing or multiple sourcing strategy should be based on a thorough evaluation of factors such as the criticality of the item or service, supplier reliability, market conditions, and the company's risk tolerance. A balanced approach that combines both strategies can provide the necessary stability, flexibility, and cost optimization for an organization's supply chain.
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Related Questions
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how can a small company benefit from writing a marketing plan?
Answers
Answer:
One Page Marketing
Explanation:
One Page Marketing Plan can help simplify and maximize your marketing efforts as well as help you create an actionable to reach your business goals.
How many barrels of oil are in the strategic petroleum reserve.
Answers
Answer:
714 million barrels
the ratio is computed by taking market price per common share divided by earnings per share. is it True or False?
Answers
The statement is true because the ratio referred to in the statement is the price-to-earnings (P/E) ratio, which is calculated by dividing the market price per common share by the earnings per share (EPS).
This ratio is commonly used as a valuation metric by investors to determine the relative value of a company's stock. A high P/E ratio may indicate that the market has high expectations for the company's future earnings growth, while a low P/E ratio may indicate that the market has low expectations for future earnings growth.
It's important to note that the P/E ratio is just one of many valuation metrics used by investors and should not be relied upon solely when making investment decisions.
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Which of the following is a guideline you should follow when constructing pie charts?
A)Position the smallest slice or the slice that needs less emphasis at the 12 o'clock position.
B)Avoid labeling all the slices.
C) While labeling the slices, exclude information about the quantitative size, such as percentage, dollars, of each slice.
D) A legend should be used if it is not possible to place the appropriate labeling information beside each slice.
Answers
The guideline you should follow when constructing pie charts is to position the smallest slice or the slice that needs less emphasis at the 12 o'clock position.
: This guideline helps to draw attention to the larger slices and avoids confusing the viewer by placing too much emphasis on smaller slices. Additionally, it is recommended to label all the slices and include information about the quantitative size, such as percentage, dollars, of each slice. This makes it easier for viewers to understand the information presented in the chart. However, if it is not possible to place the appropriate labeling information beside each slice, then a legend should be used. Overall, following these guidelines can help to create clear and effective pie charts.
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You have the best chance of getting your money back from a scam if what
happened?
You did authorize the payment.
You called the police,
You didn't authorize the payment.
You were using a secure connection,
Answers
Answer:
I'm guessing called the police?? or i don't know tho
All of the following describe characteristics of organizational change EXCEPT
O a. an organization may resist change.
O b. an organization may promote change.
O c. change is inevitable.
O d. resistance to change should be eliminated.
o e. resistance to change is inevitable.
Answers
All of the following describe characteristics of organizational change EXCEPT d. resistance to change should be eliminated.
What is an organization?An organization is a group of people who cooperate, such as a firm, neighborhood association, charity, or union. The term "organization" can be used to describe a person, a group, a company, or the process of creating or developing anything.
An organization is a formal gathering of people, such as a business, charity, political party, or club. The majority of these specialty schools are run by nonprofit institutions. ... an International Labor Organization report. Synonyms: organization, firm, party, or body Additional words for organization
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You are only outsourcing if you could have / used to produce the good or service internally, and are now choosing to source from outside the company.
a. True
b. False
Answers
a. True
The statement is true. Outsourcing refers to the practice of obtaining goods or services from an external source rather than producing or providing them internally within the company. It involves the decision to rely on external suppliers or service providers instead of utilizing internal resources and capabilities. The key aspect of outsourcing is the choice to source externally when the company has the option and capability to produce or provide the good or service internally.
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What is good government??
Answers
Answer:
Al-Rodhan's eight minimum criteria are: 1) participation, equity, and inclusiveness, 2) rule of law, 3) separation of powers, 4) free, independent, and responsible media, 5) government legitimacy, 6) accountability, 7) transparency, and 8) limiting the distorting effect of money in politics.
Explanation:
hope this helps!:)
outline two benefits to Mohammed's business of all his workers being able to do all of the jobs in the bakery. pls help!
Answers
Answer:
1. Saved time
2. Saved cost
Explanation:
If Mohammed owns a bakery where all his workers are able to do all the jobs, he benefits because he would;
1. Save time: Time that would have been spent in outsourcing the job to people who can do them with the accompanying risks of delays and disappointments are bypassed. Time is an essential factor in business because when goods are not available on customer's demand, they might have to seek other options.
2. Save cost: Mohammed will save the additional cost of payments to businesses that do other jobs for him. He saves money when he only has to pay three workers instead of four or more workers. This will mean more profit for his business.
Time periods for a goal include which of the following? short-term mid-term intermediate-term long-term
Answers
Answer:
1. short-term
2. mid-term
3. long-term
Explanation:
Goals can be classified depending on the time taken to accomplish them. In this classification, three categories emerge.
Short-term goals are goals that take less than one year to achieve. They may take a day, two days, weeks, months but not more than 12 months.
Midterm goals usually take between one year and five years to accomplish. They form a link between the long term and short term goals.
Long term goal takes more than five years and beyond to accomplish. Some may even take a lifetime. To achieve long-term goals, they are split into smaller, easy to manage short and midterm objectives.
Answer:
1. short-term
2. mid-term
3. long-term
Explanation:
Question #1
Multiple Choice
What is it called when a small number of companies control more than 40 percent of a market?
O monopoly
O oligopoly
O competitive market
duopoly
Question # 2
Fill in the Blank
Answers
Answer:
Oligopoly.
Explanation:
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
The characteristics of an oligopolistic market structure are;
1. Mutual interdependence between the firms.
2. Market control by many small firms.
3. Difficult entry to new firms.
According to the concentration ratio, when a small number of companies control more than 40 percent of a market, it is called an oligopoly.
A furniture manufacturer must pay $16.91 to make a certain kind of chair, which it can sell for $55.75. If the manufacturer has starting overhead costs of $18,340, not including production costs, how many chairs must it sell to realize a profit of $24,850, to the nearest chair?
a. 1, 112
b. 918
C. 775
d. 640
Answers
Answer:
It is 1,112
Explanation:
I just took the test as well like the person above me
To earn a profit of $24,850, it must sell 1, 112 chairs. Thus, choice (A) is the appropriate one.
What do you meant by production costs?A company incurs production expenses, sometimes referred to as product costs, when it produces a good or offers a service. These fees cover a range of costs. Manufacturers, for instance, incur manufacturing expenses for the labor and raw materials required to generate the product.
Industries that provide services have production costs associated with the labor needed to provide the service and any materials costs associated with providing the service. The government's taxes and the royalties that resource extraction businesses are required to pay are also considered production expenses.
When a product is finished, the business records its worth in its financial accounts as an asset until the product is sold. The company's objective is achieved by listing a finished good as an asset.
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rbts who serve on person-centered planning teams may face several types of ethical dilemmas, including
Answers
When serving on person-centered planning teams, there are several ethical dilemmas that RBTS (Registered Behavior Technicians) may encounter. These dilemmas can arise when trying to balance the individual's rights, preferences, and desires with their own professional obligations and ethical codes.
One common ethical dilemma is determining the appropriate level of involvement and control that the individual should have in their own plan. The RBTS may need to balance the individual's autonomy with their safety and well-being, which can sometimes conflict. Additionally, the RBTS may be asked to provide recommendations or interventions that may be in the best interest of the individual but may not align with their preferences or desires.
Lastly, RBTS may encounter ethical dilemmas when working with individuals who have complex medical conditions or disabilities. The RBTS may be asked to provide services or interventions that are outside of their scope of practice or require specialized training or certification. In such situations, the RBTS must ensure that they are providing ethical and effective services while also recognizing their own limitations and seeking additional support or consultation when necessary.
Overall, RBTS who serve on person-centered planning teams must navigate complex ethical dilemmas while prioritizing the individual's needs, preferences, and desires. It is essential that RBTS receive proper training and support to address these dilemmas and ensure that they are providing ethical and effective services.
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What is an influence on the standard of living that is not included in real GDP? Real GDP A. does not include a measure of household production or underground economic activity B. accurately measures household production, but does not accurately measure catastrophic weather such as hurricanes and ice storms. C. accurately measures leisure time, but does not accurately measure the general health of the population D. accurately measures environmental quality, but does not accurately measure underground economic activity
Answers
The correct answer is A. Real GDP does not include a measure of household production or underground economic activity.
Real GDP is a measure of the market value of all final goods and services produced within a country's borders during a specific time period. It is calculated by summing up the value of consumption, investment, government spending, and net exports.
However, there are certain aspects that influence the standard of living that are not captured by real GDP. One such aspect is household production, which refers to the goods and services produced within households for personal consumption.
Examples include cooking meals, cleaning, child-rearing, and other unpaid work. Since these activities are not exchanged in the market and do not involve monetary transactions, they are not included in the calculation of GDP.
Another factor not captured by real GDP is underground economic activity, also known as the informal or shadow economy. This refers to economic transactions that occur outside the purview of official record-keeping and taxation.
It includes activities such as undeclared work, illegal trade, and unreported income. Since these activities are not reported or accounted for, they are not included in the measurement of GDP.
Both household production and underground economic activity can have a significant impact on the standard of living.
For example, if a household produces a substantial amount of goods and services within the household, it can contribute to a higher standard of living even if it is not reflected in GDP.
Similarly, underground economic activity can provide income and goods/services that improve the standard of living for individuals involved but are not captured in GDP.
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Assuming the firm is motivated by self-interest and that the 20 units that can be produced with each technique can be sold for $2 per unit, the firm will:_______--
Answers
Assuming the firm is motivated by self-interest and each unit can be sold for $2, the firm's decision will depend on the costs and revenues associated with each technique. To determine the best course of action, we need to compare the total costs and revenues for each technique.
Let's say there are two production techniques available, Technique A and Technique B, both capable of producing 20 units. We need to analyze the costs and revenues for each technique.
For Technique A:
- Total revenue: 20 units * $2 per unit = $40
Now, let's consider the costs associated with each technique:
For Technique A:
- Total cost: $10 (hypothetical value)
To determine the firm's decision, we need to calculate the profit or loss for each technique. Profit is calculated by subtracting total costs from total revenue:
For Technique A:
- Profit: Total revenue - Total cost = $40 - $10 = $30
If the firm is motivated by self-interest, it will choose the production technique that generates the highest profit. In this case, Technique A yields a profit of $30.
Assuming the firm is motivated by self-interest and each unit can be sold for $2, the firm will choose Technique A if it generates the highest profit. However, please note that the actual costs and revenues may vary, so it is essential to consider the specific values for accurate decision-making.
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can someone help with this?
Answers
Answer:
profit
Explanation:
Answer:
profit
Explanation:
Is Almond and Verba's concept of civic culture still a useful explanation of political culture, or does the Marxist concept of ideological hegemony or Robert Puttnam's concept of social capital give us a better understanding of political culture in the modern world? Discuss in a critical analysis
Answers
The question you've posed invites a critical analysis of different concepts of political culture: Almond and Verba's concept of civic culture,
the Marxist concept of ideological hegemony, and Robert Putnam's concept of social capital. These theories provide distinct frameworks for understanding political culture, and evaluating their relevance in the modern world requires careful examination.Putnam's concept of social capital emphasizes the importance of social networks, trust, and civic engagement in political culture. It focuses on the role of civil society organizations, community involvement, and collective action in fostering a vibrant and participatory political culture. This perspective recognizes the significance of social relationships and networks in shaping political attitudes and behavior.
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What is a contingency plan?
Answers
Answer:
Um plano de contingência é um tipo de plano preventivo, preditivo e reactivo.
Apresenta uma estrutura estratégica e operativa que ajudeá a controlar uma situação de emergência e a minimizar as suas consequências negativas.
O plano de contingência propõe uma série de procedimentos alternativos ao funcionamento normal de uma organização, sempre que alguma das suas funções usuais se vê prejudicada por uma contingência interna ou externa.
Martin is a credit counselor working with a client, Kim, who is in serious financial trouble. Kim is hesitant because she has a long way to go and a lot of work to do before she can be financially healthy again. What is the best way for Martin to explain the next steps to her?
A.) Martin should present the information in small manageable steps rather than give her a lengthy to-do list.
B.) Martin should make a list of tasks that must be completed and do them for her, since he is an experienced professional.
C.) Martin should compile a list of all the tasks that Kim must complete and suggest that she report back to him after she is finished.
D.) Martin should not encourage her to do anything she is reluctant to do, even if it means salvaging her financial life in the long term
Answers
Answer:
C
Explanation:
C la respuesta es la C ya que
.Others at work see me as assertive. need answers for application
Answers
Answer:
yes
Explanation:
It is an ability to defend your rights without hurting those of others. An assertive person, therefore, is the one who can express his emotions, needs, and opinions to others without being forceful in any way
Halima wants a Manufacturing career. She wants to be very successful and get paid well. Which career pays the
highest salary?
A.hand packages
B.mechanical engineer
C.quality control inspectors
D.environmental engineering technician
Answers
Answer:
D
Explanation:
Answer:
The answer is actually B) Mechanical engineer
Explanation:
I got 94% right on the edge unit test :)
Which qualifications are most helpful for Foreign Service Careers? Check all that apply.
Foreign language skills
Stress management skills
Design skills
Independence
Math skills
Adaptability and flexibility
Answer: foreign language skills, stress management skills, and adaptability and flexibility
Answers
Answer:here's the right answer for this question
Explanation:edge2023
ERP is now about enterprise applications 20 Multiple Choice 8 003735 ntegration development deployment interfaces.
Answers
ERP is now about enterprise applications: integration, means the option B is correct.
Businesses utilize the enterprise resource planning (ERP) software to coordinate and manage the key elements of their operations. Many ERP software programs are essential to businesses because they assist in the implementation of resource planning by integrating all the operations required to manage their businesses into a single system. Planning, inventory purchases, sales, marketing, finance, and other activities can all be integrated into an ERP software system. The many business operations can be integrated via ERP software. Since ERP solutions have developed through time, many of them are now often web-based programs that users may access from anywhere. Free communication between business units, a single source of information, and precise, real-time data reporting are some advantages of ERP. There are numerous.
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The complete question is here:
ERP is now about enterprise applications:
A. networking
B. integration
C. interfaces
D. deployment
E. development
Which factors may influence a company's choice of inventory cost flow assumption?
a. actual physical flow of inventory
b. financial statement effect
c. tax implications of choice
Answers
inventory cost flow assumption influence by tax implications of choice ,financial statement effect, actual physical flow of inventory.
What Is Cost Flow?The way or channel that costs move through a company is referred to as the flow of costs. The flow of costs typically pertains to manufacturing businesses where accountants are required to quantify expenses associated with raw materials, work in progress, finished goods inventory, and cost of goods sold.
Four commonly acknowledged methods—specific cost, average cost, first-in, first-out (FIFO), and last-in, first-out—are available for allocating expenses to ending inventory and cost of goods sold (LIFO).
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Indicating when and how written and oral reports will be provided by the team, how team members will coordinate work, what messages will be sent to announce the project to interested parties, and what kinds of information will be shared with vendors and external contractors involved with the project describes: A. developing a Statement of Work B. determining project standards and procedures C. developing a communication plan D. setting a Baseline Project Plan
Answers
Answer:
hi yo Wassup
Explanation:
hi and should be therw see ya. did you know the song woman? by doja cat
Which post-secondary program requires minimal prerequisites?
Answers
Answer with Explanation:
It depends upon the college or university you choose. If you are choosing a foreign college or university then following are the possible minimal pre-requisites:
Age FactorAttained Marks percentage Language Speaking requirement which includes taking an English speaking, learning and writing test. Examples of approved english skills tests programs are TOEFL, IELTS, etc.Minimum Fee depositCharacter CertificateValid PassportPersonal Information Providing Field oriented report which explains why you want to opt this program.Other requirements depending upon the course, university and law that governs the territory in which the institute operates.If the demand curve shifted more to the right on this graph, which of the following could be the new equilibrium point?
Answers
Answer:
$200
Explanation:
Only 3 days left! 50 POINTS! Agriculture, Food, and Natural Resources Workplaces and Tasks
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Answer:
Agriculture is the science and art of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities. The history of agriculture began thousands of years ago. Agriculture is the art and science of cultivating the soil, growing crops and raising livestock. It includes the preparation of plant and animal products for people to use and their distribution to markets. ... These products, as well as the agricultural methods used, may vary from one part of the world to another. Agriculture plays a critical role in the entire life of a given economy. Agriculture is the backbone of the economic system of a given country. In addition to providing food and raw material, agriculture also provides employment opportunities to a very large percentage of the population.
Food is any substance consumed to provide nutritional support for an organism. Food is usually of plant, animal or fungal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. Food is what people and animals eat to live. Food usually comes from animals and plants. It is eaten by living things to provide energy and nutrition. Food contains the nutrition that people and animals need to be healthy. Using Harvard's Healthy Eating Plate as a guide, we recommend eating mostly vegetables, fruit, and whole grains, healthy fats, and healthy proteins. We suggest drinking water instead of sugary beverages, and we also address common dietary concerns such as salt and sodium, vitamins, and alcohol.
Natural resources are resources that exist without any actions of humankind. This includes all valued characteristics such as commercial and industrial use, aesthetic value, scientific interest and cultural value. On Earth, it includes sunlight, atmosphere, water, land along with all vegetation, and animal life. Natural resources are materials from the Earth that are used to support life and meet people's needs. Any natural substance that humans use can be considered a natural resource. Oil, coal, natural gas, metals, stone and sand are natural resources. Other natural resources are air, sunlight, soil and water. Resources are important for the development of any country. For example, to generate energy, one need fossil fuels; and for industrial development, we require mineral resources. ... Natural resources are getting scarce with the increasing population, so it is essential to conserve them.
What do some of the careers projected to grow the fastest over the next 10 years have in common
Answers
Answer:
They all probably have something to do with technology because of how much AI is growing.
Explanation:
Answer:
c
Explanation:
it says it’s right
Your reading material states that ________ is the key to successful human interaction on any level. A. Persistence b. Capitulation c. Compromise d. Assertiveness
Answers
Persistence is the secret to successful human contact at any level, according to your reading material.
What does being persistent mean?1.: attempting to accomplish a task or continue to do something despite obstacles or requests from others to stop. A persistent salesman bugged us. He is one of the most steadfast opponents of the administration. She has pursued the job tenaciously.
What makes a person so persistent?People that are persistent have an objective and vision in view that inspires and propels them. They frequently have a higher purpose for their lives than just making a living; they are dreamers and visionaries. Their vision is embedded profoundly, and they are intensely passionate and energetic in their ongoing attention on it.
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