When describing potential loss, what are the metrics that are used?
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When describing potential loss, what are the metrics that are used?
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Case Study: Light House Insurance Company: Help Me Make It Through the Night The Lighthouse Insurance Company was founded in 1970. It is engaged in selling nonlife policies specifically those related to fire and allied lines, motor car, marine, personal accident, bonds, and miscellaneous lines. The company is a stock corporation with 51 branches all over the Philippines from Northern Luzon to Southern Mindanao. It employs a total of 305 employees manning the head office in Makati City and all the branches. The company’s Human Resource Department is composed of five employees including its head, Ms. Emerenciana Soriano. The department maintains a file of the company’s record of personnel. The branch managers are responsible for recruiting branch personnel who are trained at the head office from one week to one month. When the position of branch manager (BM) becomes vacant, the general manager pulls someone out from the Marketing Department to fill the…
- Describe the importance of conducting a risk assessment in the context of continuity planning.Case Study : Williams 3D Printers Book- Introduction to Materials Management, 8th Edition What judgment would you make about the scenario presented in the case study to answer the following discussion questions? After listing the key issues and characteristics of the environment and the problem, evaluate all the possible alternative approaches they could take to deal with the problems. For each alternative, prioritize the pros and cons likely involved. Then select the approach you would recommend and attempt to justify it.1. Read the following case study and answer the questions: London Elevator Repair London Elevator Repair (LER) provides a maintenance and repair service for a variety of elevator systems. Its customers include department stores and other business organizations throughout the London. The elevator systems include conventional lifts, paternosters, and escalators. Customers can take out a maintenance contract with LER, for which they pay on an annual basis. One maintenance contract can cover several elevators (for example, all of the escalators in a department store). Due to their nature, some elevators are covered by an individual contract (for example, a paternoster would have its own contract rather than be included in a contract for the maintenance of conventional lifts). Hence each customer can have more than one maintenance contract. The hourly rate to be charged for engineers’ time is agreed as part of the contract negotiations. In addition to the work carried out under…
- subject: Quantitative Analysis For Business Please answer both of them.Problem 1. During your first month as an employee at Greenfield Industries (a large drill- bit manufacturer), you are asked to evaluate alternatives for producing a newly designed drill bit on a turning machine. Your boss' memorandum to you has practically no information about what the alternatives are and what criteria should be used. The same task was posed to a previous employee who could not finish the analysis, but she has given you the following information: An old turning machine valued at $350,000 exists (in the warehouse) that can be modified for the new drill bit. The in-house technicians have given an estimate of $40,000 to modify this machine, and they assure you that they will have the machine ready before the projected start date (although they have never done any modifications of this type). It is hoped that the old turning machine will be able to meet production requirements at full capacity. An outside company, McDonald Inc., made the machine seven years ago and can…CASE STUDY In September 2020, ACME Fabricators advised its staff that their new factory and offices out in semi-rural Angle Vale would be ready for completion by the end of April2022. ACME was a responsible company and liked to keep their premises clean and tidy and their staffhappy. The new premises were developed on a 4.5-hectare site, previously used for graincrops. Consequently, ACME decided that significant landscaping would be required to enhance the amenityof the otherwise bare land. The senior executive group pictured some land contouring with an attractivegreen lawn, and trees and shrubs to soften the impact of otherwise stark commercial buildings. Accordingly,they notionally allocated $232,000 for the project, and developed a tender document that called for the workto be completed by the time they moved to the new premises. They then invited proposals for landscapingand quotes for the work.A company called Arbor Industries submitted an artist's sketch for the ACME evaluation…