We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Procurement Outsourcing Strategies: Wonderful Widgets - Assignment Example

Comments (0)
Summary
A paper "Procurement Outsourcing Strategies: Wonderful Widgets" outlines that it should be noted that operational cost consists of both fixed and variable costs. The company can reduce the operational cost by adopting Just-In-Time (JIT) model in the production of widgets. …
Download full paper
GRAB THE BEST PAPER
Procurement Outsourcing Strategies: Wonderful Widgets
Read TextPreview

Extract of sample
Procurement Outsourcing Strategies: Wonderful Widgets

Download file to see previous pages... The company can reduce the operational cost by adopting Just-In-Time (JIT) model in the production of widgets. Using the model only orders that have been ordered will be produced. In this case, the cost of maintaining inventory will be lower thus reducing variable cost. According to (Finch, n.d.), this model can result in an organization to have high lead time (time difference between placing an order and receiving the order). It can lead to consumer dissatisfaction. Another solution is outsourcing the components instead of manufacturing in-house. The cost of producing the components will be shipped to the contracted supplier, while Wonderful Widgets concentrate on assembling of widgets. The beneficial impact on this is that it will lead to specialization, (Greaver, 1999), thus enhancing the overall processes of wonderful Widgets. Outsourcing might be good but great reliance on it might lead to the dependency that is dangerous for a business. Lean manufacturing model can be helpful in the reduction of operational cost. History has proven there is no competitive advantage in the production of those parts. The model discourages activities that do not add value to the end product but instead increase the cost (Wang, 2011). It will be wise for the supply manager to eliminate some activities like packaging and cost will be reduced. However, the model does not clearly give the threshold of determining the activities that are less vital, and this might result in essential activities being withdrawn which will impact on customer relationship. The above solutions will all reduce operational cost but at different rates. From assessing the company’s need and the components, it is advisable for Wonderful Widgets to outsource component for the widgets from reputable producers. Though outsourcing will make them rely on the outsourced company, it will be cheaper than Wonderful Widget producing it in-house.  ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Procurement
The Procurement Law of 2006 was the government’s response to Sir Latham’s report that was published in 1994 and Sir Egan’s Report that was in itself published in 1998. The Procurement Law of 2006 was designed to prevent the occurrence of a pre-Latham and Egan report state of the construction industry in the United Kingdom.
10 Pages(2500 words)Coursework
Performance Assessment and Gifted Students
All this has been explained by scholars as being the result of having gifted men and women in society. Students are able to think out of the box and generate unique and exceptional ideas. Giftedness has been defined as a character that involves aptitudes which, when combined with certain personal characteristics and favorable environment, produce an urge in students to learn rapidly and efficiently by themselves in different fields (Calero, Belen and Robles 176).
9 Pages(2250 words)Essay
Procurement and Purchasing Strategies(Critique)
Gadde and Hakansson (1993) found that procurement is one of the key strategic functions to be performed effectively by the management of an organization in order to get competitive advantage among several other organizations. In today’s competitive environment, the concept of outsourcing the procurement process to some external source is finding its base.
4 Pages(1000 words)Essay
Critical Analysis 2
breaking away from the governance extended by Britain to the new nation, creating a new model and justification for establishing political societies. The Declaration helped to create and define the Americans as a people, “and is an essential part of the American national
4 Pages(1000 words)Essay
Procurement and Delivery Strategies

The current research highlights the use of Public Private Partnership approach in the healthcare sector. The project analyses the relative merits of Public Private Partnership projects over the traditional methods of project implementation. It also analyses the benefits of the Public Private Partnership projects with respect to the traditional projects.

26 Pages(6500 words)Research Paper
Procurement
Thus public bodies and corporations use this process so as to promote fair and open competition so as to minimize the exposure to collusion and fraud. This report will take a look at the procurement process of an advertisement by Nike through the bidding
3 Pages(750 words)Essay
Software Procurement Strategies
These risks are: When development of software application is done in-house there is a major risk of not having sufficient experience or expertise in the team. Many companies need to hire
3 Pages(750 words)Essay
Procurement, contracts and strategies
Others are more critical in their appraisal. Although Leeds made great slides in the late twentieth century, It has since adopted development procedures of Yorkshire and the city has now seen the development of private
16 Pages(4000 words)Assignment
Effective Distribution Strategy Wonderful Widgets
If the company chooses to make use sales representative, then much of the company's focus should be on training the salespeople to effectively distribute the products to a wide range of customers. If the company chooses to rely on direct mail, then it will be essential to obtain reliable email contacts and have effective call-centers.
3 Pages(750 words)Essay
Procurement Outsourcing Strategies
The option between the two offered purchasing strategies aid in assisting the company decide on how the processes and operations will be carried out. The advantages of outsourcing other
3 Pages(750 words)Essay
Contract & Procurement - Business outsourcing - Case study 3
Since its founding, the firm has gained a lot of popularity both within the city and it outskirts. The popularity have been as a result of the excellence service that we have offered to our customers. Our interest rate and the repayment
5 Pages(1250 words)Essay
Let us find you another Assignment on topic Procurement Outsourcing Strategies: Wonderful Widgets for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us