Problem 1
Discuss two opportunities for outsourcing based on the competency versus dependency matrix
Two opportunities for outsourcing based on the competency versus dependency Matrix are as follows:
Customer service:
One of the most prevalent practices is outsourcing customer service. There is a strong emphasis on expertise in this field. Since the company lacks the in-house expertise to effectively manage them, they choose to outsource the task. Customer service also has to be tightly tied to the organization’s broader strategy because it is often very reliant on the firm’s primary goods and services. As an example, consider how Dell outsourced its customer assistance to Tata Consultancy Services (TCS), a service provider located in India.
Manufacturing Services:
Customer service outsourcing is one of the most used techniques. A high level of competence is required in this area. The business decides to hire outside help as its employees don’t have the necessary skills to handle them. As a result of its dependence on the company’s core offerings, customer service must also be closely linked to the organization’s overarching strategy. Think about how Dell used the Indian firm Tata Consultancy Services (TCS) as an example of a service provider that outsourced customer support.
Problem 2
Discuss three outsourcing quality issues and quality management
There are three critical facets of quality that must be considered in outsourcing: control, assurance, and management.
Ensuring High-Quality Product:
The outsourcing company’s commitment to providing high-quality products meets the OEM’s specifications and is a significant contractual responsibility. Having a clear understanding of the company’s criteria and the financial and legal consequences of not meeting them is crucial for any outsourcing agreement. Prior to beginning transportation to the OEM, the supplier oversees quality control at his own warehouse. This serves as the first safeguard against the production of subpar or defective goods.
Quality Control:
Ensuring that the outsourced product or service meets the company’s expectations is the second step in quality control. Upon arrival at the OEM warehouse, samples are taken to ensure the product’s quality. The purpose of this is to ensure that the provider has fulfilled the requirements set by the OEM.
Third, quality management is a crucial part in handling quality concerns. The primary responsibility is to ensure the secure transportation of items from their source to the original equipment manufacturer (OEM) while keeping a close eye on the quality control and assurance process. Additionally, it is crucial to keep the supplier items’ quality up-to-date according to the OEMs’ product requirements and make sure that this information has been effectively communicated between the two parties.
Problem 3
Discuss a front-loaded phase review plan, including phases and gates
A front-loaded phase review strategy is one that uses gates and phases.
Here are the steps:
Starting the project
the procedure begins with this. We have evaluated the business concept and are now researching the market and the project’s viability.
Project proposal
After determining the project’s viability, the next step is to create, evaluate, and edit the project’s comprehensive proposal in order to arrive at an accurate issue definition.
Project planning
Once the project proposal has been authorized, the next step is to conduct business strategy and planning and collect and approve a thorough business plan or model.
4. Developing the Project
Research and development of concepts and prototypes begin after the approval of the business strategy.
Here is a list of the gates:
Inspect the gate
this gate is crucial since it streamlines the thinking process and the strategy and helps to improve a proposal or project statement.
Gate for approval
the final approval and phase border are both marked by this gate. After all the necessary reviews and approvals have been given, the project may proceed to the next stage of planning.
Problem 4
Discuss the use of RPN (Risk priority number) in the Risk Register
To determine the seriousness of a risk in a project, its severity, impact, or effect—also called the Consequence factor (Cf) and the probability factor (Pf)—are used to assign a number to the risk, which is called the Risk Priority Number (RPN) or Risk Factor (Rf).
The hazards are ranked according to their RPN, with the most serious and pressing issues receiving the greatest resources to address them first. After a significant process has been completed and all risks have been mitigated, the project manager and team should reevaluate the RPN, and the process repeats itself.
Problem 5
Discuss Five conflict resolution Strategies by team members and which ones do you recommend
The following are the five categories of dispute resolution techniques:
Staying away
This strategy calls for one or both disputants to put as little emphasis on their relationship within the team or department as possible and aim to avoid each other on a more personal level. This is an undesirable strategy as most of the time this doesn’t help resolve conflict and leads to resentment.
Competition
In this method, competitiveness resides within the team. Sometimes this helps team member to come up with
new ideas to resolve a problem in the project. However, each member of the team may try to enforce their decision on the project and concentrate on their personal goals. This may hinder the progress of the project due to arguments and intimidation between team members. Competition is a win or lose scenario and always leaves a bitter taste in either one of the opposing parties.
Accommodation/Cooperation
In this strategy, the relationship between team members is given higher priority over the personal goals. This means that either one of the parties sacrifices their ideas. Sometimes this might be beneficial resulting in efficient
performance of the team, but there is no guarantee that the resulting decision is a good one. Sacrificing one’s strong opinion for other member of the team might lead to wrong decisions and ultimately may cost the project.
Compromise
This strategy is like Accommodation, but it differs in the aspect that each party sacrifices a little to come to a balanced conclusion. This is a major issue as each party compromises resulting in an unconventionally formed resolution for a problem which in majority of the cases ends up being wrong.
Collaboration
This is the strategy, where balanced preference is shared between team relationship and personal goals. Usually, the original goals are reevaluated, and the resolution process comprises of achieving common ground through balanced decisions.
I would recommend the collaboration strategy as, the opinions of each team member are considered but at the same time, these opinions are evaluated before being involved in the decision-making process. Also, each member can set their personal goals as well as are able to maintain a healthy relationship among them. This strategy creates a win/win situation where everyone will be satisfied with the decision made.
Problem 6
Suggest three possible cost drivers for the plastics industry and why you recommend their use.
In the plastics sector, the following factors primarily affect prices:
The price of primary resources
The product’s final price is directly related to the cost of the raw ingredients. An increase in product prices is inevitable if there is a shortage of raw resources, which drives up demand and, in turn, the price of those commodities. Customers are less likely to purchase a product whose price is too high for their budgets.
Operating expenses
The cost of the final product is heavily dependent on the efficiency of the workforce and the availability of energy sources like electricity and gasoline. Using efficient and inexpensive labor may lower operational costs, which in turn lowers the price of the final product. Included in this as well is the expense of maintaining the machinery and equipment used. So, if this cost can be optimized, it might affect the final product pricing; consequently, if the product is both affordable and of good quality, it could attract more buyers.
Transportation and logistical expenses
It is a time-consuming and labor-intensive operation to store and ship the final product from one area to another. The completed products price and delivery delays might both be affected by any differences in this cost. Product to the target area, resulting in significant waste A key component of the industry’s profit-making process is optimizing this loss.
References
Diaz, E., & Sensini, L. (2020). Quality Management Practices, Innovation and Profitability of SMEs: Evidence from Argentina. International Business Management, 14, 328-336. https://www.iris.unisa.it/handle/11386/4758612
Kembauw, E., Munawar, A., Purwanto, M. R., Budiasih, Y., & Utami, Y. (2020). Strategies of financial management quality control in business. TEST Engineering & Management, 82, 16256-16266. http://repository.ibik.ac.id/918/
