Productivity is the ratio of outputs attained as result of processing to theinputs given for production to. There is a direct relation between the productivity and growth of a nation. High productivity creates a secure and safe condition for the local manufacturers in competing with foreign producers. Higher productivity helps to increase wages by increasing the profits which helps to gain competitive edge over the rivals and help to improve the market share. To determine: The ways, a company can attain competitive advantage by having higher productivity than its competitors.

Question

Question 1 (25 Marks) Procurement is a key strategic function that directly impacts an organisation’s ability to create value, manage risks, and maintain a competitive advantage in the market. Critically analyse the strategic roles of procurement and how procurement practices in the fashion industry can strategically address complex challenges such as supply chain efficiency, sustainability, cost management, and global sourcing. Provide examples from the fashion industry to further your analysis. Question 2 (25 Marks) There are several enablers that need to be in place for a procurement and supply management function to implement a value-generating mode. Examine the extent of these enablers as they present themselves in the fashion industry. Question 3 (25 Marks) You are hired by local clothing chain Fashion World. The brand wants to instill a culture of professional purchasing. Construct a policy document which you would present at the next strategy meeting which inculcates the…

Answer 1

Question

Chapter 2.7, Problem 1.3RQ

Summary Introduction

Summary:

Productivity is the ratio of outputs attained as result of processing to theinputs given for production to. There is a direct relation between the productivity and growth of a nation. High productivity creates a secure and safe condition for the local manufacturers in competing with foreign producers.

Higher productivity helps to increase wages by increasing the profits which helps to gain competitive edge over the rivals and help to improve the market share.

To determine: The ways, a company can attain competitive advantage by having higher productivity than its competitors.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

Question 1 (25 Marks) Procurement is a key strategic function that directly impacts an organisation’s ability to create value, manage risks, and maintain a competitive advantage in the market. Critically analyse the strategic roles of procurement and how procurement practices in the fashion industry can strategically address complex challenges such as supply chain efficiency, sustainability, cost management, and global sourcing. Provide examples from the fashion industry to further your analysis. Question 2 (25 Marks) There are several enablers that need to be in place for a procurement and supply management function to implement a value-generating mode. Examine the extent of these enablers as they present themselves in the fashion industry. Question 3 (25 Marks) You are hired by local clothing chain Fashion World. The brand wants to instill a culture of professional purchasing. Construct a policy document which you would present at the next strategy meeting which inculcates the…

◄ Files 18:11 5G CSTUDY_Jan25_SCMH_PS...Final_20241203151014.pdf FORMATIVE ASSESSMENT 1 Read the article below and answer ALL questions that follow Are your favourite fashion brands using forced labour? [100 MARKS] The global fashion and retail industry's reliance on producing quick-tumaround goods at a low cost through outsourcing and complex, globalised supply chains has allowed forced labour to thrive, workers' rights advocates war, claiming that major fashion brands profiting from the model seem reluctant to change. The apparel sector employs over 60 million workers worldwide, according to the World Bank Group. And while 97 percent of fashion and retail brands have codes of conduct and corporate social responsibility (CSR) standards, such policies are neither effective in preventing forced labour nor in ensuring remedy outcomes for workers, according to advocacy group KnowThe Chain KnowTheChain's 2021 Apparel and Footwear Benchmark Report (PDF) recently ranked 37 of the world's…

What does a Balanced Workout plan ensure comprehensive fitness? What are the obstacles involved in a Balanced Workout plan to ensure comprehensive Fitness? How does mental well-being entail implementing techniques such as mindfulness, therapy, physical activity, and social support to cultivate emotional resilience and mitigate stress?