C> 11:43 MGMT2013-Group #1- Subgrou... LTE Done Behavioural. Demographic looks at women of Bussan in the age group 18-35 and more specifically middle to high income earners spending at least 70 US$ per month on just skincare. Psychographic focuses on Trend-conscious consumers hunting multi-functional eye-catching products which must satisfy the "green beauty" standards which prioritize cruelty free vegan products. Behavioural is simply loyalty to brands offering refillable packaging and subscription models. The primary target is eco-conscious women while the secondary target is male consumers between the ages of twenty five and forty looking for gender neutral skin care. Sourcing Strategy CaribGlow will first need to investigate the current supply chain before introducing a unique sourcing methodology. This includes charting the material flow from suppliers to manufacturing, identifying inefficiencies, and quantifying supplier performance in terms of quality, delivery, and pricing. CaribGlow's sourcing strategy emphasizes the need of aligning sourcing decisions with the company's commercial objectives (Bagul & Mukherjee, 2020). CaribGlow can choose a single supplier approach, which could result in simpler procurement and possibly cheaper costs, but it also carries the danger of supplier collapse and higher prices, or a multi-supplier approach, which reduces risk and offers flexibility but complicates the sourcing procedure. Give brief peer review example of both sourcing strategies Having evaluated suppliers, CaribGlow will have to enter into formal contracts that specify terms such as price, delivery timings, quality specifications, and penalties for non- performance. A decrease in the buyer's power asymmetry may enable greater reliance on informal governance mechanisms and increase relational rents (Wegner, et al., 2021). Given CaribGlow's product range and need for reliable suppliers, a multi-supplier approach is recommended. This approach allows flexibility in buying from various suppliers, offering quality and affordability with minimum risks of disruption in supply and price fluctuations. Sunnl ciment To ensure smooth operations, supply chain management (SCM) aligns production, distribution, and customer demand. CaribGlow depends on SCM for product quality and meeting requests through strategic functions such as demand management, procurement, and transportation (Fernando, 2024). Global sourcing strategy needs to serve domestic as well as international markets with quality standards of the Product Main

C> 11:43 MGMT2013-Group #1- Subgrou... LTE Done Behavioural. Demographic looks at women of Bussan in the age group 18-35 and more specifically middle to high income earners spending at least 70 US$ per month on just skincare. Psychographic focuses on Trend-conscious consumers hunting multi-functional eye-catching products which must satisfy the "green beauty" standards which prioritize cruelty free vegan products. Behavioural is simply loyalty to brands offering refillable packaging and subscription models. The primary target is eco-conscious women while the secondary target is male consumers between the ages of twenty five and forty looking for gender neutral skin care. Sourcing Strategy CaribGlow will first need to investigate the current supply chain before introducing a unique sourcing methodology. This includes charting the material flow from suppliers to manufacturing, identifying inefficiencies, and quantifying supplier performance in terms of quality, delivery, and pricing. CaribGlow's sourcing strategy emphasizes the need of aligning sourcing decisions with the company's commercial objectives (Bagul & Mukherjee, 2020). CaribGlow can choose a single supplier approach, which could result in simpler procurement and possibly cheaper costs, but it also carries the danger of supplier collapse and higher prices, or a multi-supplier approach, which reduces risk and offers flexibility but complicates the sourcing procedure. Give brief peer review example of both sourcing strategies Having evaluated suppliers, CaribGlow will have to enter into formal contracts that specify terms such as price, delivery timings, quality specifications, and penalties for non- performance. A decrease in the buyer's power asymmetry may enable greater reliance on informal governance mechanisms and increase relational rents (Wegner, et al., 2021). Given CaribGlow's product range and need for reliable suppliers, a multi-supplier approach is recommended. This approach allows flexibility in buying from various suppliers, offering quality and affordability with minimum risks of disruption in supply and price fluctuations. Sunnl ciment To ensure smooth operations, supply chain management (SCM) aligns production, distribution, and customer demand. CaribGlow depends on SCM for product quality and meeting requests through strategic functions such as demand management, procurement, and transportation (Fernando, 2024). Global sourcing strategy needs to serve domestic as well as international markets with quality standards of the Product Main

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter7: Entrepreneurship

Section7.2: Characteristics Of Successful Entrepreneurs

Problem 1CTQ: What type of entrepreneur is Apollonia PoilĂ¢ne?

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