Examine as to whether the consumers will be willing to pay increased prices to ensure that their products are sustainably produced and packaged
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
The retail giant Walmart is trying to compel its suppliers to “go green” as part of its efforts to build a more environmentally sustainable global supply chain. As it did with promoting EDI and RFIDs in the early stages of those technologies, Walmart is leading the curve with its sustainability efforts. On an occasion, Walmart’s CEO, Lee Scott, told a large gathering in China, “A company that cheats on overtime and on the age of its labor, that dumps its scraps and chemicals into our rivers, that does not pay its taxes or honor its contracts—will ultimately cheat on the quality of its products. And cheating on the quality of products is the same as cheating on customers. We will not tolerate that at Walmart.” As part of this initiative, Walmart will survey its 100,000 global suppliers and ultimately create a “sustainability product index,” which will allow the company to evaluate suppliers on their sustainability efforts. Suppliers anxious to keep Walmart as a customer will be motivated to improve their rating on the sustainability index. Some experts think Walmart can change the business climate on sustainability. According to Harvard Professor Rosa Beth Moss Kantar, Walmart’s determination to use its considerable influence to raise the standards for environmental sustainability “shows that a single company using its unique clout can accelerate public action to reduce greenhouse gases and reverse climate change.” Walmart’s new initiative translates into a new burden on suppliers. By some estimates, the company’s efforts to improve sustainability could increase the cost of products by 1–3 percent, due, in part, to new requirements that suppliers label products with a green index. However, these costs may be offset if the suppliers, as part of their efforts to reduce their impact on the environment, can also improve their supply chain efficiency.
Examine as to whether the consumers will be willing to pay increased prices to ensure that their products are sustainably produced and packaged
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