Question

Assume that you starting a new retail shop business of selling premium and basic T-shirts in DeKalb. Name the various parts of your supply chain you will need (Drawing your supply chain flowchart can be your answer here) Describe the key strategies you will use in supplier selection and transportation/ logistics choices. (You can make any assumptions about your business as you feel. Show any numerical values to any parameter you feel will describe your thoughts better.) 2) Problem: What will be your measures of O

Answer 1

Answer:

Consider the following explanation

Explanation:

Key strategies to select the supplier:

1. Set your criteria- A list is to be created of the suppliers which can provide the needed products. They must fulfill the conditions applied by the firm, like the optimum quality, payment policies, return policies, etc.
2. Define your process- The process which company want to follow to get the supply from the supplier must be define prior.
3. Call for bids- Now the suppliers are invited for the bids. This is known as Request for Proposal. The full details of the products which are needed by the company are told to them. Now record their replies.
4. Evaluate the bid submissions- Now there is the comparison of the bids of different suppliers. Through the correct analysis and evaluation, the supplier is chosen.
5. Monitor the supplier- The selected supplier’s performance is monitored closely. They should conduct the regulate performance review. The company got satisfied with the performance and start giving them orders.

Key strategies for selecting the logistics:

1. Cultural alignment- The logistics selected must be operated both culturally and operationally. It affects the carrying cost, obsolescence cost, customer service cost, etc. When the 2 parties are not agreed an these points, then rest are ignored.
2. Company infrastructure- The logistic company must have the good infrastructure. It should have those capabilities to provide proper supply chain visibility.
3. IT capabilities- The company must have the optimum technology to be used in the business. The IT capabilities is essential for providing the global logistic services.
4. Cost- The cost is always a important factor to select any logistics. It should not be too expensive. If company can afford that then only it will get selected. Before setting any benchmarks, the cost should be decided early.
5. Intangible services- it should also provide extra value added services. It gives benefits to both the firms. They jointly invest in their common success.