The resources provided in the assignment 3 attached document are the only ones to be used. Assignment must be written within the rubric. Assignment 1 & 2 have been attached to help with writing.
Moving forward with the work you’ve started with Assignment 1 and 2, discuss the various legal ramifications of buying and using the five different types of materials you’ll need for your new company. Specifically, discuss the type of contract you’ll use, potential liability you might be exposed to, and the terms and conditions that will most likely lead to a harmonious relationship with your suppliers. Also, create a detailed RFP that includes the corn leaf supplier taking over the processing of this material into an enzyme that you can mix with to the other four materials. Your paper should be two to three pages, double-spaced, 12-point font, one-inch margins.
Required Formatting of Assignment #3:
The report should be double spaced, 12-point font, three pages in length excluding the title page and reference page
Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.
Contractions are not used in business writing, so you are expected NOT to use contractions in writing this assignment.
Title page
Use headings to help organize the paper
Use APA formatting for in-text citations and reference page. You are expected to paraphrase and not use quotes. Deductions will be taken when quotes are used and found to be unnecessary.
The expectation is that you provide a robust use of the course readings. No other books besides the course eBook can be used. When using a source document, the expectation is that the information is cited and referenced with a page or paragraph number.
The resources provided are the only ones to be used. Assignment must be written within the rubric. Assignment 1 & 2 have been attached to help with writing.
Moving forward with the work you’ve started with Assignment 1 and 2, discuss the various legal ramifications of buying and using the five different types of materials you’ll need for your new company. Specifically, discuss the type of contract you’ll use, potential liability you might be exposed to, and the terms and conditions that will most likely lead to a harmonious relationship with your suppliers. Also, create a detailed RFP that includes the corn leaf supplier taking over the processing of this material into an enzyme that you can mix with to the other four materials. Your paper should be two to three pages, double-spaced, 12-point font, one-inch margins.
Required Formatting of Assignment #3:
The report should be double spaced, 12-point font, three pages in length excluding the title page and reference page
Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.
Contractions are not used in business writing, so you are expected NOT to use contractions in writing this assignment.
Title page
Use headings to help organize the paper
Use APA formatting for in-text citations and reference page. You are expected to paraphrase and not use quotes. Deductions will be taken when quotes are used and found to be unnecessary.
The expectation is that you provide a robust use of the course readings. No other books besides the course eBook can be used. When using a source document, the expectation is that the information is cited and referenced with a page or paragraph number.
accomplished level of
analysis, synthesis,
evaluation and reasoning
of the case material and
case study facts resulting
in accurate, thorough, and
soundly reasoned
conclusions
(2.7-3.0)
Formatting and development
of RFP reports was correct
and explained. Each element
of the report defined
the conclusions drawn reflecting
a good level of analysis,
synthesis, evaluation and
reasoning of the case material
and case study facts resulting in
accurate, and logically reasoned
conclusions. However,
development of the mixing
process was not fully explained
and or supported by class
material.
(2.4-2.699)
RFP report was created and all
elements were present.
Comments identified
elements but had 3-4 mistakes in
the discussion of the mixing
process. Comments reflect a
satisfactory level of analysis,
synthesis, evaluation and
reasoning of the case material
The criteria for the selection of suppliers has significantly changed over the years. In the past, price was utilized as the primary criteria for the selection of suppliers together with location and preferences. However, there has been a greater emphasis on food safety and quality hence the need to improve on the quality of raw materials supplied. Choosing the right suppliers can help an organization to meet and supersede the set regulatory standards while increasing consumer demand and building the brand reputation. The supplier that is chosen has to be able to deliver quality and safe ingredients which will translate to quality and safe end products for the consumer (Eldridge, 2012).
Identifying the appropriate supplier is a costly affair but has significant results if done in the correct manner. The opinions of the stakeholders are sought to determine the appropriate criteria to follow in selecting a supplier. Some of the stakeholders include members of the research and development, processing, quality assurance, marketing and purchasing among others. After the identification of the appropriate criteria potential suppliers are identified and their capabilities and pricing is compared. This stage involves working with the potential suppliers and maintaining open communication where the manufacturer explains to the supplier the manufacturing process. While cost is a significant driver, value is paramount and it should be key in selecting the appropriate supplier. Some of the factors which contribute towards value include delivery commitments, responsiveness and reliability, hard and soft resource savings and customer service (Eldridge, 2012).
The raw materials that are being sought are highly perishable and one criteria for the supplier is that it should be able to reach the company in a fresh state. This should be one of the factors to look for when sourcing for the supplier. Because of the sensitive nature of the raw materials that are required, it is paramount that the supplier is able to assure of the quality of the raw materials they will be supplying. For example, the supplier for hearts from pigs should have a pig farm rather than outsourcing from another farm. This way, they are able to raise the pigs to standard and consequently they will have good quantity hearts to serve the purpose aimed at by the company. This is carried out on all of the other required raw materials.
Before signing the contact, there is need to carry out an audit on the suppliers to determine whether or not they have the capacity to deliver. The audit is carried out to enable the determination of whether the supplier is compliant or has some significant compliance or quality system failures. These shortcomings have a significant impact on the supplier’s capability to produce top quality products. This procedure is carried out on the best suited supplier since it is a costly process and it aims at protecting the manufacturers from contracting a supplier that may be good in the books but this does not match the actual situation of the company. The audit also aims at helping the company to understand the weaknesses and strengths of the supplier before the relationship is made official. Therefore, by carrying out an audit of the suppliers, the company is able to determine the capability of the supplier to meet the company’s requirements (Assemblymag, 2001).
Evaluating the performance of a supplier is important to grade them and determine whether or not the partnership will continue. Evaluation can be carried out through a self-assessment questionnaire by the suppliers. This helps the supplier to identify any existing gaps ad take the appropriate measures towards covering them. It also helps the company to understand how the supplier understands its operations and whether or not they are willing to make improvements on existing discrepancies. The company should also set up appropriate metrics with which the measurement of performance can be carried out. Some of the metrics which can be used include lots that are rejected, documentation errors and perfect shipments among many others. The metrics allows for the categorization of the supplier as either full partner, associate partner, high risk or incapable. A full partner is a supplier that has been able to meet all the company’s expectations and can be trusted to supply quality raw materials to the manufacturer. An associate partner is a supplier that falls short of the expectations and needs to put in more effort so as to attain the status of a full partner. High risk supplier is utilized for current production but it is advised not to award them with future business. An incapable supplier does not meet the needs of the manufacturer and hence they should be let go as soon as possible. These categorizations help the company to know which supplier they need to replace and which one they need to retain. It plays a significant role in the continuous process of assuring quality in the raw materials that they are supplied with (Assemblymag, 2001).
Establishing long term supplier relationships has many advantages on the company. It leads to a reduction is costs since there is a significant amount of resources that is associated with searching for a supplier including months of determining the appropriate one and setting up a relationship with them. With long term suppliers, there is an increase in communication and efficiency hence a smooth operation unlike in instances where the supplier is regularly changed. With the long term relationship, there is also room for continued improvement and the supplier is able to better understand the needs of the manufacturer and hence they are able to satisfy them better (Figues, 2020). Long term suppliers are those that have been able to achieve the metrics of full partnership and the two entities have been able to establish a level of trust and by working together, the company has been able to achieve and supersede the required quality.
References
Assemblymag. (2001). Retrieved 2 February 2020, from
A balanced scorecard is a concept used by managers to analyze their business using four different perspectives. It helps to provide a customer’s perspective, the organization’s internal perspective, the innovation and learning perspective and the financial perspective. The advantage for this measure is that it reduces the data overload by minimizing the number of required measures.
The mission statement of the organization is used to determine the customer perspective. This is helps to frame how the customer views the organization. The mission for the organization is to become a leader in delivering products used in laboratory testing. The concerns of the customer deal with time, quality, cost and performance and service. The company has been able to deliver orders made by customers within a short lead time except for few instances when suppliers had failed to deliver the raw materials within the stipulated time. The quality of the products it delivers has been undisputed. The cost of the products is also competitive in the market when compared to those of the competitors. This has helped the organization to gain a substantial market base. Convenience has been created for the customers by carrying out delivery to their preferred destination. Under this goals and achievements, it can be concluded that the organization is preferred by many customers (Kaplan & Norton, 1992).
Company based measures are important as they dictate how the organization meets the customer’s needs. Quality is the main concern for the organization’s customers and therefore, measures should be put in place to ensure that the final products are of good quality. This can be achieved through the selection of the best suppliers based on the quality of their raw materials rather than the price. This was achieved in the process of supplier selection and the continuous evaluation of the suppliers to ensure that they maintain the quality. The processes undertaken to produce the products used in laboratory settings are also meticulously monitored and improvements made over time. This means that the quality increases with time and this ensures that the internal metric of quality is achieved (Kaplan & Norton, 1992).
Innovation and learning is part of the culture within the organization. There is a research and development department within the organization whose sole purpose is to carry out research and come up with new and improved products. These are aimed at meeting the ever changing needs of the consumer. The financial perspective of the organization is also promising since the profitability has increased. The company has experienced growth and this has placed it in a better position to bargain for lower supply costs. It has been able to enjoy the benefits of economies of scale (Kaplan & Norton, 1992).
Total cost of ownership
Total cost of ownership (TCO) is different from the procurement approach because it does not account for the purchase price only. Other costs associated with the supply include storage, taxes, shipping, insurance and disposal. The raw materials that are purchased some of them are perishable such as the hearts of pigs. Although there might be an advantage in buying bulk, it is advisable to buy in small quantities that are required in the manufacturing process. This prevents any losses from being incurred in the form of deterioration when the raw material is purchased in large quantities (Plues, 2012).
There are several other factors to be considered in TCO model. First is the supply partner development costs. There are costs associated with the development of the partnership and this should be proportional to the value that the supplier brings to the organization. An example is for the turkey legs; it is advisable to look for a supplier that will supply the muscles only rather than the whole leg for the organization to obtain muscle from it. This reduces the manufacturing costs associated with the product. The location of the supplier is also important as it determines the shipping cost and time. Although a supplier may have quality products at a lower price, their location may disqualify them because the shipping cost and time taken to transport them ultimately makes the product expensive. Therefore, it is advisable to source for raw materials in a nearby location (Lancione, 2018).
There are various costs associated with the quality of the raw materials. Low quality raw materials lead to low quality final products and disappointment by the customer. There are also costs associated with returns when the quality is not good. Low quality also presents safety issues. It is therefore advisable to choose high quality suppliers to avoid the costs associated with low quality. The payment terms should also be clearly outlined. Payment to the suppliers should be done after delivery and not before as this would hurt the cash flow and places the organization at risk. The procurement department should also protect the organization from potential cost fluctuations by choosing to purchase a position in the foreign currency for the price at that point in time (Lancione, 2018).
References
Kaplan, R., & Norton, D. (1992). The Balanced Scorecard—Measures that Drive Performance. Retrieved 7 February 2020, from
Lancione, T. (2018). 6 TCO Considerations When Choosing a Supply Partner | IndustryStar Solutions. Retrieved 7 February 2020, from https://www.industrystarsolutions.com/blog/2018/07/6-total-cost-ownership-considerations/
Pluess, J. (2012). What Total Cost of Ownership Offers Sustainable Procurement | Blog | BSR. Retrieved 7 February 2020, from https://www.bsr.org/en/our-insights/blog-view/what-total-cost-of-ownership-offers-sustainable-procurement
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