RISK MANAGEMENT IN PURCHASING/PROCUREMENT CASE STUDY A survey by Capgemini Research Institute found two-thirds (66%) of retail and consumer product organizations were changing their supply chain strategy following disruptions and shifts towards online shopping. Covid-19 was seen to be “a wake-up call” with over eight in 10 retail and consumer product organizations facing disruptions, and only 25% of retailers believing they had the agility needed to support “evolving business needs”. Over the years, disruptions have largely been caused by the Covid-19 that resulted into closure of borders. This has been exacerbated by the Russian Invasion of Ukraine that started in February 2022. More challenges exist ahead with the current civil war in Sudan. These challenges expose retail and merchandise operations to several challenges, namely; Stock outs Delayed supplies Inflation Fuel prices continue to shoot up. Required; Question Four a) Define the term “agility” as used in the case study b) Examine the challenges to achieving supply chain agility within the retail and consumer product organizations. c) As a student of risk management, advise management of Retail and consumer product organizations on the benefits of adopting an agile supply chain

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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RISK MANAGEMENT IN PURCHASING/PROCUREMENT

CASE STUDY

A survey by Capgemini Research Institute found two-thirds (66%) of retail and consumer product organizations were changing their supply chain strategy following disruptions and shifts towards online shopping. Covid-19 was seen to be “a wake-up call” with over eight in 10 retail and consumer product organizations facing disruptions, and only 25% of retailers believing they had the agility needed to support “evolving business needs”. Over the years, disruptions have largely been caused by the Covid-19 that resulted into closure of borders. This has been exacerbated by the Russian Invasion of Ukraine that started in February 2022. More challenges exist ahead with the current civil war in Sudan. These challenges expose retail and merchandise operations to several challenges, namely;

Stock outs
Delayed supplies
Inflation
Fuel prices continue to shoot up.

Required;

Question Four

a) Define the term “agility” as used in the case study
b) Examine the challenges to achieving supply chain agility within the retail and consumer product organizations.
c) As a student of risk management, advise management of Retail and consumer product organizations on the benefits of adopting an agile supply chain

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