1.What is the greatest potential-and challenge-for effective supply and demand m
ID: 462732 • Letter: 1
Question
1.What is the greatest potential-and challenge-for effective supply and demand management?
2.TCOs 1 and 2) Answer the following questions concerning lowering the total cost of ownership.
Discuss how a “quality cost” can affect the cost of ownership. (10 Points)
Discuss how “downtime cost” can affect the total cost of ownership. (10 Points)
Discuss how “conversion cost” can affect the total cost of ownership. (10 Points) (Points : 30)
3.Answer the following questions concerning negotiation techniques (tactics):
Discuss how “keeping the initiative” is a negotiation technique. (10 points)
Discuss how “never give anything away” is used as a negotiation technique. (10 points)
Discuss how “separating people from the problem” is a negotiation technique. (10 points) (Points : 30)
Explanation / Answer
1.What is the greatest potential-and challenge-for effective supply and demand management?
Supply chain and demand management both are playing pivotal role in production and service industry in terms of process and excellence and reducing overall cost of production and serving the customers.
Potential: Effective supply chain has the scope to reduce the whole network cost of an organisation The network includes Inventory, warehouse cost and distribution transportation cost. Supply chain management reduces the working cost through identifying various parameters involved in inbound to outbound of an organisation. The process of elimination on non value added process and lean supply chain management results in achieving process excellence and cost reduction. Value stream maping, Just in time approach, 5S , inventory optimisation, quality assurance etc can improve the whole supply chain efficiency. Demand at the same time through effective pull system ( by analysing the actual demand from market perspective ) could able to focus the right perspective of procurement and processing.It will reduce inventory handling cost, ordering cost and holding cost.
Challenges:
2.TCOs 1 and 2) Answer the following questions concerning lowering the total cost of ownership.
Discuss how a “quality cost” can affect the cost of ownership. (10 Points)
Discuss how “downtime cost” can affect the total cost of ownership. (10 Points)
Discuss how “conversion cost” can affect the total cost of ownership. (10 Points) (Points : 30)
Quality cost is actually an extra cost affording to check the quality of the product and assuring the quality of processing. It needs human resource cost, technology cost ,other inspection cost, certification cost. Thus it affect TCO directly in terms of increasing the budget and adding more constraints and variable to the TCO factors
Downtime Cost actually impacts the production and therby it fails to meet the market requirement of the product. This may impact the quality as well. Thus down time may cause loss of trsut from the dealers or direct customers ( thus business loss, market share loss) and production loss. In addition to that inspection cost and repairing cost.
Conversion cost refers to process cost of transferring one form of part to another as per the requirement ( Raw material to final product, semi finished material to final product). This includes cost of labour, time factor and machine cost etc.
3.Answer the following questions concerning negotiation techniques (tactics):
Discuss how “keeping the initiative” is a negotiation technique. (10 points)
Discuss how “never give anything away” is used as a negotiation technique. (10 points)
Discuss how “separating people from the problem” is a negotiation technique. (10 points) (Points : 30)
Discuss how “keeping the initiative” is a negotiation technique.
Keeping the initiative keeps the momentum of activities and make refresh for all the process. Initiatives helps in connecting the people and to have a good rapport with them.
Discuss how “never give anything away” is used as a negotiation technique.
Never give up . keep trying is a policy to be adopted in personal as well as professional life. Those who give up in life will always fail. Keep trying whatever be the final verdict. Thus keeping confidence in us and keep the negotiation tactics more polished and more professional can definitely give a positive result finally. Keeping the right spirit and attitude towards negotiation gives the right path to attain the result.
Discuss how “separating people from the problem” is a negotiation technique
Separating people from the problem helps in resolving issues and making a good connection with them. Harmony and collaboration helps in bridging the gap and aim to achieve the common goals with win-win situation. Discussions or negotiating activities must include only concerned people otherwise too much discussions and suggestions will spoil the intention of the discussions and will end up in ambiguity. People management is one of the best tactic for conflict resolution and identifying the right path for negotiation.
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