1: Three criteria for bidding are Negotiation in supplier selection 2: Value cha

Question

1: Three criteria for bidding are

Negotiation in supplier selection

2: Value chain in supplychain is a concept of creating a value of the service or product or a proper impact to the business through better customer service. An efficient supplychain could able to meet the customer demand on time and this will generate value to the process. Value will be high if a supplychain could dleiver the product on time with least cost. It gives competitive advantage and can be more aligned to the demand of the market. This helps in removing the non value added process in supplychain which includes reduces turn around time, recuses inevntory on stock, optimised the transportation and storage cost of the product. The value chain starts from procurement of material till the products get delivered to the customers. There are both physical value chain and virtual value chain. The value chain helps in management to take strategic planning or decision making.

Explanation / Answer

1 A) Provide three criteria for why an organization would use competitive bidding and three reasons for negotiation in supplier selection.

1 B) Explain the concept of a value chain and why the concept is important to SCM.

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