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 toward 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 in the 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 One According to the case study, what do we consider to be the Risk and why? As a purchase in the international marketplace, examine the strategies that retail & product organizations can use to guard against risks associated with stock-out situations. Examine the effect of changing supply chain strategy on the operational functioning of retail and consumer product organizations

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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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 toward 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 in the 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 One

According to the case study, what do we consider to be the Risk and why?
As a purchase in the international marketplace, examine the strategies that retail & product organizations can use to guard against risks associated with stock-out situations.
Examine the effect of changing supply chain strategy on the operational functioning of retail and consumer product organizations

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