Business Finance Homework Help

Module 2: Managing Suppliers

This module unlocks the receiving department, putting players in charge of managing the supply chain and material inventories to meet client needs. (15 Turns). Please go to the assignment titled Unit 3 – Simulation for instructions on how to access the simulation.

To gain access to this module, please log in to your McGraw-Hill student account and select the MGMT345 Master (Cape & Cullen), then select “Click here to launch MH Practice.” On the next screen, select “Play” to gain access to the various modules. Find “Module 2: Managing Suppliers” on the list and select “Play Game.” From that point, follow the instructions in the simulation.

Primary Discussion Response is due by Friday (11:59:59pm Central).

Within the Discussion Board area, write 200-300 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

There are many reasons why a company should pay attention to their reputation as it relates to their future vendor relations and product supply costs and availability. Complete the following:

• Discuss why it is important for organizations to manage their reputation by answering the following questions:
  • What impact could a poor quality product have on a company?
  • How does reputation help a company to be more competitive?
  • How do you think a company can improve their vendor and customer relations?
  • Summarize 3 examples of what goes into the reputation of a company.

Be sure to include your required references, and format your submission in APA format.

Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:

• What did you learn from your classmate’s posting?
• What additional questions do you have after reading the posting?
• What clarification do you need regarding the posting?

What differences or similarities do you see between your posting and other classmates’ postings?

Note: The game module must be played and completed to earn associated points.
Note: 75 points for the DB, 120 points for the module and 5 points for the Individual Project (screenshot submission).

Notes:

1- primary discussion board IS DO ON FRIDAY.

2- I will include the other students post for responses later.

First Student :Naomi

After completing the simulation, I feel much more informed and knowledgeable about why it is important for organizations to manage their reputation. One of the first things to take into account is quality and the impact a poor quality product could potentially cause for a company. If a company is operating with poor quality machinery like we were using in the simulation, we could have experienced machine failure, thus causing a work stoppage where we would have been unable to create our designs. A company also might not have poor quality machinery, but the product they actually produce may be low quality like we saw with some of the fabrics. One item in particular that was low quality were the socks, and a poorly made sock could easily tear or rip, and would be uncomfortable to wear due to thinness or even lose stitching.

A reputation allows a company to be more competitive by encouraging customers to choose your business based off reviews. We saw several times in the simulation where people could rate their experience and the quality of service they got from us, and high ratings are definitely things I know I look for when deciding where to shop.

One way I think a company could potentially improve their vendor and customer relations is simply by communication. There were a few times in the simulation where I had completed a partial order, and could have potentially sent two shipments if they were in need of an item urgently. With the vendors, often there are materials that are much more heavily used, like the cotton, where instead of setting up multiple orders with them, I could communicate my needs, and maybe work out a discount for a steady, weekly order based on order data, then adjust as needed from there. Another way to improve on a vendor relationship, would be to work with them on a specific ordering system or pairing our technology. Many times an order would come in electronically, and you would have to go and manually order the needed materials, but if we working on getting on the same technology platform, perhaps we could have a more seamless ordering system where once I have a need for a product, it also alerts them to the need and starts placing an order with my vendor, helping reduce lag time between two different systems and having to wait for a worker to order.

A few things I saw this week in the simulations feedback from the customers were quality provided, and accurately providing them with the quality selected. So if they ordered a 50 rated material, the reality met the expectation they had of what a 50 rated item would be, speediness and receiving the order by the promised time, and providing them with a great customer service experience, like options and different prices to select from.