What is time-to-market? How have ISs affected time-to-market?
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What is time-to-market? How have ISs affected time-to-market?
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?What are some of the benefits of a faster time-to-market?
- 6. McDonald's and Wendy's The following figures are taken from the 2003 financial statements of McDonald's and Wendy's. Figures are in million dollars. McDonald's 129.4 Wendy's 54.4 Inventory Revenue Cost of goods sold (COGS) Gross profit 17,140.5 11,943.7 3,148.9 1,634.6 5,196.8 1,514.4 In 2003, what were McDonald's inventory turns? What were Wendy's inventory turns? ii. Suppose it costs both McDonald's and Wendy's $3 (COGS) for each value meal offerings, each sold at the same price of $4. Assume that the cost of inventory for both companies is 30% a year. Approximately how much does McDonald's save in the inventory cost per value meal compared to that of Wendy's? You may assume the inventory turns are independent of price. i.Q3- Suppose there is a company that does all the work manually and has a particular system in each department. After spending a period of time, they wanted to automate all the company's functions and operations, and they decided to apply the Enterprise Resource Planning (ERP) system to their organization. Why did they determine to use the Enterprise Resource Planning (ERP) system instead of manually working? Answer: Enterprise resource planning is a business suite that enables various organizations to manage the daily activities by integrating the finance, human resource, logistics, marketing, and operations functions as a single system. Enterprise resource planning systems allows various functions to communicate and exchange the information through compiling into a central database thus allowing all the employees a cross departmental visibility. The various advantages associated with the usage of ERP include, Generation of major time and financial savings through providing the…Table 23.1: Vital Economic Statistics for An Earthly Economy Nominal RGDP Total GDP Price Population Year ($ Billion) Index • (in Million) 7 $5,000.00 119 129.00 6 $4,900.00 117 128.50 5 $4,950.00 114 128.16 4 $4,890.00 110 127.45 Refer to Table 23.1. Real GDP per person dropped by about 0.05% 0.07% 0.08% 0.06% in Year 7.