LOG 313 Supplier Relationship Management Assignment sample of SUSS, Singapore

In this assignment sample, we will be going to discuss the Supplier Relationship Management SUSS, Singapore. Traditionally, Supplier Management focuses on the management of ‘post-award activities.’ It is still critical today to ensure that key suppliers with high-value, high-risk contracts will perform satisfactorily throughout the contract life cycle. As such this course provides thorough coverage of strategies and techniques for managing these important relationships in order to meet KPIs and reduce risks.

The competitiveness of an organization is essentially defined by its capabilities within its supply base which means it’s crucial they manage those partnerships properly! This course offers a plethora of information about how you can do just that with tools from strategy implementation through measurement while also providing detail around potential pitfalls along the way.

It’s crucial to make the most of suppliers by developing them as effectively as possible. This course covers that perfectly, going into great length about Supplier Development and how buying organizations can use it to improve their performance with those who they buy goods from better than before.

This course was designed to help students utilize what they learned in the previous two courses to manage their own stores better. It goes into depth with subjects like why it’s important to assess store performance regularly and how you can use that information to improve your organization all while using what we discussed about purchasing/supplier development, of course!

TOA, TMA, GBA Assignment solution of Supplier Relationship Management Modules SUSS, Singapore

At the end of this course, Singaporean students will be able to learn the Supplier Relationship Management module with the help of the following learning outcomes :

1.Assemble supplier relationship management techniques to maximize value and minimize risks of the collaborative relationship.

We can assemble supplier relationship management techniques to maximize value and minimize risks of the collaborative relationship by developing and putting in use a set of different techniques. This will involve the integration of both hard-core business negotiation processes with soft-core relational building activities to ensure that we not only get the lowest price possible but also gain sustainable relationships with our suppliers and vendors.

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To enjoy the non-inertia of the supplier relationship management process by answering critical questions which are necessary for proper understanding as well as interaction with your suppliers based on this framework. As part of supplier relationship management, it is important that you identify key questions you need to be answered in order to develop strong relationships with your potential or current suppliers including any and all pertinent information you can glean from them through conversation, observation, competitive intelligence gathering, etc.

2.Examine various supplier benchmarking tools and techniques to measure suppliers’ performance and capabilities.

We can examine various supplier benchmarking tools and techniques to measure suppliers’ performance and capabilities through various communication mediums that can be used to measure performance and capabilities.

Various benchmarking tools and techniques that can be used are as follows:

1) Statistical Process Control (SPC)

2) Predictive Index (PI)

3) Supplier Scorecards (SSC)

4) Competency-based assessment framework

5) Benchmarking matrix (BBM).

The above techniques can be utilized in order to achieve SOR processes. By utilizing these techniques, the organization will have a higher likelihood of achieving success with their suppliers by having an understanding of where they stand within the organization. This will lead to better collaboration between organizations and suppliers which will lead to improved supplier performance which ultimately leads to overall improvement.

3.Develop risk assessment tools and prepare counter-measures according to organizations’ risk management strategy.

We can develop risk assessment tools and prepare counter-measures according to organizations’ risk management strategy through the analysis of the purchasing process in accordance with the purchase cycle, the development and implementation of a quality management system in accordance with ISO 9001:2008 standards, the configuration of supplier performance plans.

The organization will have a higher likelihood of achieving success with their suppliers by having an understanding of where they stand within the organization. This will lead to better collaboration between organizations and suppliers which will lead to improved supplier performance which ultimately leads to overall improvement.

4.Propose supplier relationship management strategy to nurture sustainable and mutually beneficial relationships with suppliers.

The propose of supplier relationship management strategy to nurture sustainable and mutually beneficial relationships with suppliers are the following:

To build trusting relationships with suppliers, organizations must be open and transparent in their operations. Organizations need to trust their suppliers by providing accurate information regarding the firm’s operations, products, short-term plans, and long-term strategies. Suppliers on the other hand will have no reason not to trust their customers if they are honest in revealing vital information that is necessary for them to do their job effectively.

As it is difficult for a firm to take the initiative in building trusting relationships, the customer should be responsible for setting up a trust with its suppliers when feasible. The supplier’s trust will be increased if the customer treats its suppliers fairly and respectfully.

Furthermore, customers need to keep their word and fulfill any commitments they make. It is also essential that when a customer requests something from a supplier, he/she must explain his/her reasons clearly so that both parties can discuss the request thoroughly before reaching an agreement.

As most organizations are very sensitive about information sharing between different departments of the organization due to competitiveness, there is usually extra care that needs to be taken by purchasing managers when dealing with suppliers in order for them not to deal with the competitor.

5.Debate the effectiveness of various procurement approaches on sharing outcomes between buying organizations and suppliers from co-developed market capabilities.

We can debate the effectiveness of various procurement approaches on sharing outcomes between buying organizations and suppliers from co-developed market capabilities by using J. Ram and R. Ham’s (2007) model “Models of Collaborative Supply Chain Management”.

In this assignment solution, there are three models which are described as follows: sequential approach, simultaneous approach, and partnering approach that describes the collaborative supply chain management between buying organizations and suppliers from co-developed market capabilities. By using these three approaches, we can evaluate the effectiveness of various procurement approaches on sharing outcomes between buying organizations and suppliers from co-developed market capabilities.

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Firstly, we will explain the characteristics of purchasing managers in each approach. It is noticed that during sequential purchase processes there is an excessive cycle time devoted to data collection (authority only goes up to a single level) or negotiation.”

The sequential approach is characterized by slow responsiveness to the market. Whether there are orders, there are no protocols for negotiation between the buyer and supplier.” And during serialized purchase processes, it requires a long time to complete one task (the logistic system needs to be established).”

In this way, the serialized process is prone to wastefulness. However, in the case of collaboration where outsourcing happens often or where information flows smoothly among involved parties,” we may regard such interventions as complementary” Therefore, a warehouse management system should not be regarded as superfluous but rather an effective way of sharing information among all participants.”

6.Illustrate supplier risk management strategy to minimize potential business disruption.

We can Illustrate supplier risk management strategy to minimize potential business disruption by a situation that no quality problem issue with supplier related to e-Commerce or not, but why we should consider risk management strategy for suppliers.

Still, there are many supplier data in the warehouse system which is required on a daily basis, it will be difficult to get some information from the warehouse if business continuity fails and lead to product shortage. Therefore, we need to know how much supply amount, what is an emergency plan and so on.

7.Prepare action plans for identified risks on existing contracts with suppliers.

We can prepare action plans for identified risks on existing contracts with suppliers through business analysis and supply chain management in advance.

The way to prepare an “action plan” is the same as the risk analysis process for existing contracts with customers; we can get a risk item list from the business analysis and then assign reasonable countermeasures to each item.

Nowadays, there are many software tools that can support us in this process including: ‘Supply Chain Damage Risk Management’ provided by trade Korea and others. These tools have an easy user interface, so you don’t need a long training time to use them!

8.Implement supplier relationship management strategy and engage suppliers to build a future-oriented mindset.

We can implement supplier relationship management strategy and engage suppliers to build a future-oriented mindset through the following steps:

(1) Conduct supplier audit

(2) Maintain and manage one-to-one suppliers to build supply chain continuity.

When assessing risk management in external parties, it is important that we consider their views of the risks associated with their relationship with us. Here, we can consider using a ‘Supplier Relationship Risk Management’ tool provided by trade Korea and others. These tools have an easy user interface, so you don’t need a long training time!

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