Verification: 44a8787c550138ed

While both the supply chain and the operations are vitally important, both may be underestimated by staff and managers w

1-     While both the supply chain and the operations are vitally important, both may be underestimated by staff and managers who aren’t involved with the day-to-day operations in those areas.  How would you explain the economic value of the supply chain and/or operations area of your organization (or one that you know of) to those outside of those respective areas? 2-     Organizations are looking for personnel who understand operational issues. These companies also value those who know and understand financial issues and how the work of their departments/units impacts the bottom line.  Drawing on your knowledge of financial statements, draw some general guidelines on how one might use financial statements to manage either the supply chain area or an operations area if they are in a domestic organization vs. a global organization.  3-    Given worldwide distribution and inventory, discuss how foreign currency might be advantageous (or not) to use as a tool.  Discuss:  ·      –   What factors should be taken into the decision.  ·       –   What action might be taken after the decision is made  ·       –   What are the anticipated the results of the action(s). 4-     Consider cost-benefit analysis as a practical way of assessing the usefulness of projects in both public and private companies, you will argue in favor of cost-benefit analysis.5-     Find a news article about a company that has had to reduce in inventory significantly. Critique the outcomes, if those are known, to customer service. If these are unknown, project the likelihood of the impact to customer service based on information readily available. 6-     We currently live in a global village, and it is reasonable to expect that there could be some competitive advantages for our organizations to source globally. Based on personal or professional experience, discuss the costs associated with sourcing domestically vs. globally and the risks associated with each type of sourcing. 

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