CIPS L4M6 Supplier Relationships Assignment Sample UAE
When an organization decides to outsource their procurement and supply chain management functions, they are essentially shaping up a partnership with one of the many suppliers available. This module will help you understand what responsibilities fall under your domain as well as how best go about establishing these partnerships so that all parties involved can succeed together in this ever-changing market environment!
Outsourcing can be a strategic business decision, but it is important to consider the nature of the engagement and how it will add value to your company. In most cases, outsourcing is not a one-time engagement that concludes after a contract is signed. Instead, you should expect to have a long-term interaction with your supplier.
In this module you will learn how to establish and manage relationships with external suppliers. You’ll need specific skills for success in the role, such as being able to communicate effectively on behalf of your organization while maintaining strong partnerships that are crucial at every level within an organizations’ procurement function – from initial sourcing decisions right through contract negotiation processes.
Get Solved Answer for CIPS L4M6 Supplier Relationships Assignment Sample
CIPS L4M6 supplier relationships can be a bit tricky and we’re here to help. We know how important it is that your company maintains healthy working partnerships with other organizations so let us show you some tips on what not only will work but also makes sense from an organizational perspective as well!
It can be difficult finding the right CIPS L4M6 Supplier Relationships Assignment Sample. You want one that will let your skills shine and give an accurate representation of what’s expected from each side as part-seller, manufacturer/ supplier or customer service representative but all these vary depending on who needs them most so we’ve put together this list with some different options for different job roles in mind – just match up their requirements against those offered below before making any purchases online today.
Assignment Activity 1: Differentiate between different types of commercial relationships in supply chains
Commercial relationships in supply chains can be classified into three types: functional, strategic and operational. A functional relationship is one where the two parties share a common function or expertise within the same organization – for example, an IT provider providing services to a business that has outgrown its in-house systems.
A strategic relationship is one where two organizations have some kind of long-term commitment to each other – for example, a supplier who provides parts to both General Motors and Toyota making cars together. And finally, an operational relationship exists when there’s just plain old cooperation on how items should be processed or managed through the supply chain – again, look at cases like GM and Toyota above.
There are three main types of commercial relationships in the supply chain:
1) Customer-supplier – This is when a company acts as both the supplier and customer. For example, Nike would be considered a customer-supplier because they contract with different factories to produce their products.
2) Independent contractor – An independent contractor does not work for any one company; they instead provide services to multiple companies (for example, an IT consultant).
3) Joint Venture – A joint venture is when two or more companies form an agreement where they will share resources and profits equally. The most common type of joint venture is when one company outsources production tasks to another country so that it can take advantage of cheaper labor.
Assignment Activity 2: Appraise portfolio analysis techniques to assess relationships in supply chains
The term “portfolio analysis” is used to describe a set of techniques that can be applied to assess relationships in supply chains. A supply chain, by definition, has many suppliers and customers. Therefore, it makes sense to analyze the relationships among these entities from both an upstream (supplier) and downstream (customer) perspective. The goal is to understand how changes at any one entity affect other entities in the system.
There are several different types of portfolio analysis techniques that can be used for this purpose. They include:
- Forecasting – This technique uses historical data on past performance to predict future outcomes; it’s often used at the supplier to determine which customers’ outcomes should be forecasted. For example, a supplier to Walmart may want to develop a forecasting technique that predicts future demand for its products from Walmart’s stores.
- Transfer Function – This technique converts two variables into one variable. For example, a transfer function can convert a customer’s revenue to a supplier’s revenue. There are several transfer function techniques that can be applied to supply chains, but the simplest is called the “delta” technique, which converts one variable’s change into another’s change . This technique is often used at the customer level because it can show suppliers how changes in their customers’ outcomes will affect the supplier.
- Portfolio Optimization – This technique uses mathematical optimization to determine which customers and suppliers should be paired together in order to maximize collective performance (i.e., revenue or profit). There are several portfolio optimization techniques that can be applied, but a simple one is called weighting analysis, which assigns weights to customers or suppliers based on how much revenue or profit they contribute. A more complex technique is the genetic algorithm, which uses heuristic search to determine optimal allocations for a set of entities.
- Two-man rule – This technique requires that two people agree for any relationship to continue between an upstream entity and downstream entity. For example, this technique is often used in the healthcare industry to ensure patients are not over-prescribed medications. In a supply chain, two-man rule analysis would be applied at either the customer or supplier level depending on which entity is upstream from the other. For example, if a supplier believes one of its suppliers has been supplying it with defective products, the supplier may implement a two-man rule so that both the supplier and its upstream customer have to agree before it ships any more products.
- Linear programming – This technique uses linear equations to solve for optimal allocations between entities in a system. Unlike portfolio optimization techniques, it is independent of whether the variables are revenue or profit oriented. It’s often used to make day-to-day decisions rather than long term strategy decisions.
Assignment Activity 3: Identify the competitive forces that impact on relationships in supply chains
There are three key competitive forces that impact on relationships in supply chains. They are the threat of new competitors entering the market, changes in consumer demands and changing technology.
The first one is when a company decides to enter or exit an industry it has traditionally been part of, this can have a huge effect on how suppliers do because it means they will have less or more competition from time to time which affects their margins.
The second Competitive Force is technological change – sometimes this can be very slow so firms need to stay ahead by looking at ways they can improve efficiency through things like lean production methods for example, but other times it’s not so easy because then you’re talking about disruptive technologies such as robotics which create jobs in some areas but kills them in others.
The final one is customer power this can be a massive issue depending on how big the company gets, because if they have a lot of bargaining power their suppliers have less and there’s also the possibility that they could create competition by choosing to work directly with another supplier which would leave all the other companies in the area in a very bad place.
A change in consumer demands is also an important factor for companies to consider, if they are working with big suppliers or own big brands this could mean that something like the launch of a new product could have an impact on their business because if it didn’t sell as well as expected either there wouldn’t be enough orders to go round or it would be expensive to store it, or if they were working with smaller suppliers this could mean that the consumer demands would impact on them even more because they wouldn’t be able to keep up with demand which means they’d have to pay their staff overtime.
Assignment Activity 4: Compare the sources of added value that can be achieved through supply chain relationships
There are a few different sources of added value that can be achieved through supply chain relationships.
Cost savings: By working with suppliers who can provide the same product at a lower price, a company can save money on its procurement costs.
Improved quality: By working with suppliers who are committed to quality and have stringent quality control processes in place, a company can ensure that its products meet or exceed customer expectations for quality.
Faster turnaround times: By working with suppliers who can deliver products quickly and on time, a company can reduce the amount of time its products spend in inventory, which increases its profits margins.
Direct sales: By working with suppliers who are committed to direct sales, a company can expand its distribution network without incurring the additional expense of independently establishing new distribution channels.
Expertise in emerging markets: By working with suppliers who have established relationships with customers in geographic regions that are of interest to a company, a company can establish relationships with customers in those markets more quickly and effectively than if it tried to build relationships independently.
Assignment Activity 5: Analyse the purpose of organisational procedures and processes in sourcing goods and services
The purpose of organizational procedures and processes in sourcing goods and services is to ensure that the organization gets the best possible value for money while still maintaining a certain level of quality and compliance.
By having standardized procedures and protocols, the organization can ensure that all bids or proposals are evaluated in a consistent manner, that suppliers are screened and qualified according to set criteria, and that contracts are awarded fairly. This also helps to prevent fraud or corruption within the organization.
The public sector does not want to give the impression that they are awarding contracts for personal gain or because of who you know, rather than what you can offer. One way in which this is done is by ensuring fairness and transparency when it comes to letting business contracts.
Being awarded a government contract often means having further opportunities to work with other government entities, like local councils or state departments. Contracts that are too costly or poorly structured can undermine business opportunities later on which in turn undermines the government’s efforts to boost the economy and create jobs through procurement.
Organizational procedures and processes in sourcing goods and services can be used to achieve a number of strategic objectives, such as reducing costs, improving quality or speeding up the procurement process.
The main benefit of having well-defined procedures and processes is that it makes the sourcing process more efficient and consistent. This can lead to cost savings, as well as improved quality and faster turnaround times. It’s therefore important for organizations to take the time to document their procedures and processes for sourcing goods and services, so that everyone involved in the process is clear on what needs to be done.
Assignment Activity 6: Compare team management techniques to ensure positive stakeholder relationships
Team management techniques are used to ensure positive stakeholder relationships. These range from simple things like thanking people for their input, to more complicated approaches that take into account the needs of all parties involved. One common example is “stonewalling”, where you refuse feedback or answers to questions by members of your team – this can have a devastating effect on morale and productivity!
The key thing is communication; if everyone understands what’s being asked of them (and why), there should never be any confusion about who’s responsible for what part in achieving goals.
One of the best ways to ensure positive stakeholder relationships is through active listening. A good manager will take the time to really understand what stakeholders want and need, while avoiding making assumptions or jumping to conclusions. This type of communication creates a foundation for trust and mutual understanding on both sides.
Another way managers can foster strong stakeholder relationships is by regularly communicating in a timely manner. When managers know they have pending business before stakeholders, it’s important that they get information back quickly so discussions don’t stall progress on either side of the table. The more transparency there is between team members, the better everyone will work together towards common goals. “
Assignment Activity 7: Compare the practical considerations of stakeholder management
There are a few key practical considerations when it comes to stakeholder management:
- Define who your stakeholders are. This can be a tricky task, as stakeholders can be quite diverse and can change over time. Generally, you should consider anyone who could be affected by or has an interest in your project.
- Establish communication channels with stakeholders and commit to regular updates. This ensures that everyone is kept in the loop and knows what is happening with the project. It also helps build trust and transparency.
- Manage expectations effectively. It’s important to set realistic expectations from the outset and manage any unrealistic expectations as they come up. This will help avoid any misunderstandings or conflict down the line.
- Be open to feedback and criticism – but know your limits! Stakeholders may make good suggestions or propose changes, but you need to be able to say no when necessary. You are still the project manager after all!
- Keep them informed. Communicate with stakeholders regularly throughout the project timeline so they always know what’s going on. This helps you manage any concerns or questions before they become an issue.
- Be open to compromise. Sometimes stakeholders will have different interests and priorities, but you need to be able to put these aside for the greater good of the project if necessary!
Assignment Activity 8: Identify the processes for terminating stakeholder relationships
Stakeholder relationships can be terminated in a number of ways, including through:
- Negotiation – this can involve one or more stakeholders coming to an agreement about ending the relationship. This might involve resolving any outstanding issues, compensating stakeholders for their losses, and/or agreeing not to disparage each other publicly.
- Breach – one or more stakeholders may break the terms of the relationship agreement, which could lead to termination.
- Death or incapacity – if a stakeholder dies or becomes incapacitated, the relationship might come to an end.
- Decision by majority – if there is no clear agreement among all stakeholders about how to proceed with the relationship, then a decision could be made by majority vote. The majority would then be able to terminate the relationship unilaterally (i.e., without unanimous agreement from all stakeholders).
- Decision by designated decision maker – if there is no clear agreement among all stakeholders about how to proceed with the relationship, and negotiations fail, a decision might be made by either: an impartial decision maker, or a designated decision maker. The majority would then be able to terminate the relationship unilaterally (i.e., without unanimous agreement from all stakeholders).
- Decision by dissenter – if there is no clear agreement among all stakeholders about how to proceed with the relationship, negotiations fail, and no decision can be made by an impartial decision maker or a designated decision maker, the majority may be able to terminate the relationship unilaterally (i.e., without unanimous agreement from all stakeholders) if it can convince a single other stakeholder to break with the majority position and terminate the relationship as well.
There are different ways for companies to sell their products and services. In market sales, companies sell their products and services to the general public, usually under some type of promotion. In direct sales, companies can either set up retail outlets or they can reach customers through marketing efforts.
Assignment Activity 9: Analyse the concept of partnering and where it is a suitable approach
A partnership occurs when two or more individuals come together to start or run a business. This type of legal entity is popular because it offers several advantages over other business structures, such as limited liability and tax efficiency.
Partnerships can be a great option for businesses that are just starting out, as the partners can share the costs and responsibilities of running the company. In addition, partnerships offer flexibility, which is especially beneficial when it comes to making decisions about the business. Each partner has an equal say in how the company is run, and no one partner can make decisions unilaterally.
However, partnerships also have their disadvantages. For example, disputes between partners can be difficult to resolve and can lead to the dissolution of the company.
While partnering is often seen as an effective way to get things done, it is not always the best strategy. Whether or not partnering is the right approach depends on a variety of factors, including the type of project, the personalities of those involved, and the availability of resources.
Some benefits of partnering include increased access to resources, collective intelligence, and reduced risk. However, partnerships can also be challenging due to communication problems, power struggles, and misaligned incentives. It’s important to weigh the pros and cons carefully before deciding if partnering is the right approach for your project.
Assignment Activity 10: Appraise the process of partnership implementation
Partnerships are an excellent way to implement change in your organization. By partnering with employees, you can create buy-in and motivation for the changes that need to take place.
It’s important when designing a partnership that there be clear expectations of what each party will be bringing to the table – this includes both tangible and intangible contributions. The success of any partnerships depends on all involved parties being able to work together as a team, sharing responsibilities where appropriate and taking turns giving input when needed so no one feels slighted or ignored.
There should also be regular check-ins throughout the process where progress can be reviewed and adjustments made as needed, but this isn’t always realistic due to time constraints. This is why it’s important to have a written agreement that outlines the responsibilities of all partners before you begin the process, as this will prevent misunderstandings and hurt feelings down the road.
Partnerships are a great way to improve the efficiency of your business. A partnership can be defined as two or more entities that combine their resources and expertise in order to achieve a common goal.
There are many benefits associated with partnerships, including increased collaboration and communication, reduced costs, and improved efficiency. When implementing a partnership strategy within your organization, it is important to consider the various factors involved in creating successful partnerships. These include determining who will lead each partner group, developing shared goals and objectives, establishing clear lines of communication, and managing expectations on both sides of the equation.
Assignment Activity 11: Identify the reasons why partnerships fail
There are many reasons partnerships can fail, but some of the most common reasons include a lack of trust, communication problems, and incompatible goals.
Trust is crucial in any relationship, and it’s often lost quickly when one or more parties involved don’t believe that the other person will be honest with them.
Communication problems also lead to trust issues, as does an inability to compromise. If partners cannot openly communicate their feelings and desires without judgment from the other person, they may find themselves unable to work together effectively on important matters.
There are many reasons partnerships can fail. Here are just a few of them:
- The people involved in the partnership don’t share the same goals or interests
- One person wants to take more responsibility than they should, and the other doesn’t
- There isn’t clear communication between both parties about what is expected from each one
Get Solved Assignment Sample FOR CIPS L4M6 Supplier Relationships, UAE
Do you need a professional writer with your case study writing ? We offer the best case study writing help services in the UAE. Whether you are searching for assistance with your case study writing or assistance with your admission essay, our company is ready to help with any assignment.
Our Online writing services accompanied by professional UAE writers for college and university scholars can break down the writing process into convenient parts. Our custom help to do essay writing UAE will provide you with what you really need to score high grades. We have the best essay writer uae. There are many reasons to choose us to get our essay writing service UAE. The team of professional homework writers in UAE is one of them. Any writing homework at College starts to concern them, and they look around saying “is there anybody who can pay to do my assignments?” We also provide our all clients with cheap and best quality assignment help services in the UAE.
- CIPS L6M9 Supply Network Design Assignment UAE
- CIPS L6M8 Innovation in Procurement and Supply Assignment UAE
- CIPS L6M4 Future Strategic Challenges for the Profession Assignment UAE
- CIPS L6M3 Global Strategic Supply Chain Management Assignment UAE
- CIPS L6M2 Global Commercial Strategy Assignment UAE
- CIPS L6M1 Strategic Ethical Leadership Assignment UAE
- CIPS L4M6 Supplier Relationships Assignment UAE
- CIPS L4M5 Commercial Negotiation Assignment UAE
- CIPS L4M8 Procurement and Supply in Practice Assignment
- CIPS L4M7 Whole Life Asset Management Assignment
- CIPS L4M4 Ethical and Responsible Sourcing Assignment UAE Sample
- CIPS L4M3 Commercial Contracting Assignment Sample
- CIPS L4M2 Defıning Business Need Assignment Sample
- CIPS L4M1 Scope and Influence of Procurement and Supply Assignment Sample
- CIPS L3M6 Socially Responsible Warehousing and Distribution Assignment Sample