NMIMS MBA Supply Chain Management Solved Answer Assignment
16
Oct
2024
Supply Chain Management
1. “Elixir Pharma” took to home delivery of medicines as a response to Covid situation. But the model remained as a feature after Covid situation changed. With business growth new challenges showed up like delay in delivery, wrong items getting delivered, returns and re-deliveries, out of stock of some items, while some other items are over stocked, moving goods between pharmacies to get inventory in balance. Transportation and warehousing costs are on the rise which leads to thinning of margins. How can they leverage various supply chain drivers to meet their objective of “better service at optimum cost”?
Ans :
Introduction:
Supply chain management is an essential aspect of any business, as it is critical in ensuring that the organization operates efficiently and effectively. The Covid-19 pandemic has caused significant disruptions in supply chain management worldwide. As a result, many organizations have had to adjust their supply chain strategies to remain operational.
Concepts and Applications:
Elixir Pharma can leverage several supply chain drivers to achieve its objective. These drivers include facilities, inventory, transportation, information, sourcing, and pricing.
The supply chain is a critical part of any business, and its effective management can lead to significant cost savings and increased customer satisfaction. The supply chain comprises a series of interconnected activities: sourcing, procurement, manufacturing, warehousing, transportation, and distribution. Each of these activities is driven by various factors that impact the overall efficiency and effectiveness of the supply chain. The five primary supply chain drivers are:
Conclusion:
The Covid-19 pandemic has significantly changed how businesses operate, and Elixir Pharma is no exception. To meet its objective of “better service at optimum cost,” Elixir Pharma must leverage various supply chain drivers to optimize its facilities, inventory levels, transportation, information, and sourcing. By doing so, Elixir Pharma can reduce its operational costs, improve order fulfillment times, increase customer satisfaction, and remain competitive.
2. “Fresh” is a fresh fruit shopping chain. Their specialty is organically grown and seasonal fruits. They now operate about 10 outlets in Pune. Fruits are obtained from farmers within and near-by states with which they have sourcing arrangements. Responding to newer business models, they have deployed “Freshonline.com” with regular sets of clients that promise home delivery within 2 hours within city limits. Customer base in expanding at their outlets and with online model. Business increase is also bringing with it mixed bag of challenges due to issues with increasing costs, freshness related problems, quality issues, delays in delivery, non-availability of right stocks etc. Their aim is to reach lean and agile value chain over next 2 years. Prepare a road map to enable them transition levels of supply chain improvement to be lean and agile value chain with few examples?
Ans :
Introduction:
Fresh is a new fruit shopping chain specializing in organically grown and seasonal fruits. They operate about ten outlets in Pune and source their fruits from farmers within and nearby states with which they have sourcing arrangements. They have also deployed “Freshonline.com” to cater to their regular clients with a promise of home delivery within 2 hours within city limits.
Concepts and Applications:
The transition from a traditional supply chain to a lean and agile value chain involves a series of steps that include:
Establishing a solid supplier base: A strong one is critical to ensuring a steady supply of quality products at competitive prices. Fresh can establish a stable supplier base by developing long-term partnerships with reliable farmers and ensuring they adhere to strict quality standards.
Improving supply chain visibility: Improved supply chain visibility is necessary to reduce lead times, improve forecasting accuracy, and optimize inventory levels. Fresh can improve supply chain visibility by deploying technology solutions such as RFID, GPS, and IoT sensors to track and monitor products in real time.
Conclusion:
Fresh, a fresh fruit shopping chain, faces a mixed bag of challenges, such as increasing costs, freshness-related problems, quality issues, delays in delivery, and non-availability of the right stocks. To address these challenges and transition to a lean and agile value chain over the next two years, Fresh can adopt a strategic approach that leverages various supply chain improvement levels.
3. “Second Childhood” is a senior citizen township which provides all types of amenities from housing, boarding, medical facilities, fitness needs, diet needs, entertainment etc. It houses about 1000 families in a vast campus of about 100 acres. They need to forecast various needs from catering needs, medicines, facility capacity, human resources need etc.
Describe steps in demand forecasting in this case situation?
Ans :
Introduction:
Second Childhood is a senior citizen township that caters to the needs of elderly residents. With a vast campus and multiple amenities, forecasting demand for various services and resources is crucial to ensure smooth operations and meet the needs of the residents. In this scenario, demand forecasting is essential in predicting future needs and planning.
Concept & Application:
Steps in Demand Forecasting for Second Childhood:
Data Collection: The first step in demand forecasting is to collect historical data on the consumption patterns of various resources such as food, medicines, and facility usage. This data can be collected from multiple sources, such as customer feedback, sales data, and facility usage reports.
Analysis of Historical Data: After collecting the data, the next step is to identify any trends, seasonality, or other patterns that can help predict future demand. This analysis can be done using statistical tools and techniques such as time series, regression, and trend analysis.
Conclusion:
In conclusion, demand forecasting is a crucial aspect of supply chain management for Second Childhood. Accurate demand forecasting can help the management team make informed decisions, reduce waste, and improve the overall efficiency of the supply chain. By following the above mentioned steps and applying the forecasts to various resources, the management team can ensure a lean and agile value chain that provides better services at an optimal cost.
Describe methods of demand forecasting
Ans :
Introduction:
Demand forecasting is an essential aspect of business planning and management. Accurate demand forecasting helps organizations make informed decisions about resource allocation, production planning, and inventory management.
Methods of Demand Forecasting:
Concepts and Applications:
Time-Series Forecasting:
Time-series forecasting involves predicting future demand based on past patterns and trends. This method uses historical data to develop a statistical model that can predict future direction. Time-series forecasting can be done using moving averages, exponential smoothing, and ARIMA models. For “Second Childhood,” time-series forecasting can be used to predict future demand for medical facilities, catering services, and entertainment.
Conclusion:
In conclusion, accurate demand forecasting is essential for senior citizen townships like “Second Childhood” to ensure that they effectively meet their residents’ needs. The four methods of demand forecasting described in this essay, time-series forecasting, regression analysis, market research, and expert opinion, can be used by “Second Childhood” to forecast demand accurately for various amenities such as catering, medical facilities, housing, and entertainment.
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