Introduction to Business
OER 2018 Edition
ISBN: 9781947172548
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 10.8, Problem 1CC
Describe the impact of the anticipated worker shortage on U.S. business.
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Being in the procurement team for one of the major automotive companies such as GM or Toyota.
How to Appraise the best strategy to source for microchips based on portfolio analysis. Give reasons to support in the context of the automotive industry.
Note: The procurement spend on microchips is a small fraction of the Bill Of Materials
(BOM) of an automobile.
One of the challenging issues in determining the appropriate sourcing strategy is whether a company should choose 'single sourcing (i.e. the company buys the entire item from one supplier)' or multiple sourcing (i.e. the company buys an item from more than one suppliers)'.
Using the five objectives of procurement
Examine which procurement objectives can be best served via 'single sourcing.' Give reasons
Another issue in determining the appropriate sourcing strategy is whether to choose a large or small supplier. Again, show which procurement objectives can be best served with a large supplier. Provide supporting reasons.
According to 'AutoForecast Solutions', the global automotive industry lost 11.3 million units of production in 2021 due to the shortage of microchips. In fact, the shortage is one of the reasons that Tesla is not going to introduce new models of cars this year.
I have learned 'Portfolio Analysis' as a part of the strategic sourcing process. Would like to know what is the purpose of conducting portfolio analysis?
using own words and not a generic one
Chapter 10 Solutions
Introduction to Business
Ch. 10.1 - What are the three types of decisions that must be...Ch. 10.1 - What are the three phases of production planning?Ch. 10.2 - Describe the different types of production...Ch. 10.2 - How are inputs transformed into outputs in a...Ch. 10.3 - What factors does a firm consider when making a...Ch. 10.3 - What should be considered when deciding on a...Ch. 10.4 - What are the approaches to inventory that...Ch. 10.4 - How is technology being used in resource planning?Ch. 10.5 - What is production control, and what are its key...Ch. 10.5 - How can value-stream mapping improve routing...
Ch. 10.5 - Identify and describe three commonly used...Ch. 10.6 - How can managers use techniques to improve...Ch. 10.6 - Define Six Sigma.Ch. 10.6 - What was Edward Damming's contribution to...Ch. 10.7 - Describe total quality management and the role...Ch. 10.7 - How can lean manufacturing and just-in-time...Ch. 10.7 - How are both manufacturing and nonmanufacturing...Ch. 10.8 - Describe the impact of the anticipated worker...Ch. 10.8 - How are today's educational trends affecting the...Ch. 10.8 - What is business process management (BPM, and how...Ch. 10 - A recent spate of mine disasters that caused...Ch. 10 - Why would an e-mail rules memo like this work...Ch. 10 - What are the potential problems that could arise...
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- Financial data for Hunger Games Company for last year appear below: Hunger Games Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $120,700 $220,000 Accounts receivable 225,000 475,000 Inventory 317,000 390,000 Plant and equipment (net) 940,000 860,000 Investment in Katniss Company 100,000 98,000 Land (undeveloped) 198,000 65,000 Total assets $1,900,700 $2,108,000 Liabilities and owners' equity: Accounts payable $178,700 $8,000 Long-term debt 512,000 600,000 Owners' equity 1,210,000 1,500,000 Total liabilities and owners' $1,900,700 $2,108,000 equityarrow_forwardFinancial data for Hunger Games Company for last year appear below: Hunger Games Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $120,700 $220,000 Accounts receivable 225,000 475,000 Inventory 317,000 390,000 Plant and equipment (net) 940,000 860,000 Investment in Katniss Company 100,000 98,000 Land (undeveloped) 198,000 65,000 Total assets $1,900,700 $2,108,000 Liabilities and owners' equity: Accounts payable $178,700 $8,000 Long-term debt 512,000 600,000 Owners' equity 1,210,000 1,500,000 Total liabilities and owners' $1,900,700 $2,108,000 equityarrow_forwardPlease original work If customization is such a good idea, why don't we see more of it in the marketplace right this minute? Please cite in text references and add weblinksarrow_forward
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