SOLUTION: MGMT 3308 DU Entrepreneurship Managing Family Enterprise Case Analysis

Abraham Baldwin Agricultural College Course Reflection

Review and reflect on the knowledge you have gained from this course. Based on your review and reflection, write at least 300–500 words on the following:Identify 2–3 concepts from the course that you are able to say helped you the best in understanding the supply chain and logistics. Has this course given you tangible considerations that you can apply in your life?What approaches could have yielded additional valuable information?Quantitative MeasurementNo matter what kind of business the logistics function is a part of, the success of the logistic plan is measured by the success of the company, particularly from a cost and customer-service perspective. Although metrics of success will differ depending upon industries, the common quantitative metrics that are used by most firms would include the following:Percentage of on-time, complete shipmentsTotal shipping costs as percent of salesTotal inbound shipping cost as a percent of money of inbound freightsPremium freight money paid because of a logistics errorGeneral customer satisfactionThe following is an example of quantitative measurement:Qualitative MeasurementIn addition to quantitative measurements, there are frequently special qualitative assessments of logistics performance. Although the above metrics are pretty standard for large retailers, and there is not much interaction between delivery personnel and the actual customer, there are other shipping situations in which customer service takes on a whole new meaning. The following are a few examples:Consider drivers who deliver and assemble bulky, heavy, and very expensive products such as pianos, pool tables, and back some years ago, mainframe computers. Imagine the added challenge of delivering these items up three flights of stairs or into a newly carpeted facility such as an office, health club, or private home. Household relocation companies, or what consumers would simply call movers, are letting drivers and unpackers into their private home. They want care to be taken with special belongings, and damage to walls and doorways is also a concern.In the case of the residence move, both ends of the shipment are involved. A piano, for example, not only is an expensive piece of furniture, but a finely tuned piece of musical equipment as well.For new heavy strength-training equipment going into a newly remodeled health club, there is an extreme need for meeting reliable shipment dates because the club owner has probably arranged for a very limited installation window. Typically, in these situations, the club would close for one day to have new floors put down and any other remodeling work, and the new equipment must arrive on time for the club to be able to reopen the next day. Standard metrics may not account for these types of situations.Sustainability is more than just being green. A general definition of sustainability is the endurance of systems and processes. In the narrow sense, this means the company stays in business. However, the broader supply chain view requires thinking of the sustainability of the entire network. The triple value model, developed through the Organization for Economic Cooperation and Development (OECD), is being integrated into the U.S. Environmental Protection Agency’s analysis toolkit as a framework for systems thinking that explicitly defines the linkages and flows of value among three major categories of systems—industrial, societal, and environmental. Each of these three systems must endure for the supply chain to endure. Sustainability––the enduring nature of a system––is not just a future issue. It is critical that logistics and supply chain managers consider sustainability during all phases of the product life cycle, now and in the very far future. At the very beginning, product development in the laboratories must consider the impact of the product design on the industrial, societal, and environmental systems that it will soon become a part of. Decisions about the materials used in the product, how it will be packaged, and how long it will last in use are set during the initial research and development. As the product goes into production, the manufacturing plant must consider energy usage, water contamination, and the exhaust gases that may enter the environment. Distribution of the product should consider sustainability in the ways the product is handled and transported––more greenhouse gases may be produced during shipping than in production. And at the end of life, how will the product be disposed of by the consumer? In a landfill, or recycled or reprocessed for potential recovery of precious and hazardous metals? Whether it is the acquisition of a major system with thousands of components or just basic, good sustainability at each phase of the product life cycle, this is critical for ensuring proper stewardship. First Student: Shannon I learned a lot in this course. One of concepts that helped me learn and grounded me in supply chain and logistics is the make-up or the elements that make up the supply chain (integration, operations, purchasing, and distribution). This information lays the groundwork to understand how all the pieces fit together. Another concept that stood out for me was about the triple bottom line-that instead of just having one bottom line (profit), companies should have three: profit, people and the planet. If companies only focus on the profit, neglecting people and the planet, it doesn’t account for the full cost of doing business and will be held accountable by the consumer, which is more socially and environmentally educated and has access to information more than ever. Lastly, the concept of performance measurement with KPIs and metrics was very beneficial to me. Learning about the definition, examples and applicability helped better understand these concepts. I will be leveraging at work and in future endeavors a quote I learned in a chat from Professor Justin Goldston, PhD: “KPIs measure strategic business goals…[while] metrics support the KPIs”.Has this course given you tangible considerations that you can apply in your life?Yes. Although I don’t work close to supply chain in current job role, I do sit in on meetings (especially lately due to COVID-19) where operations and supply chain sit at the same table. Before this class, I had some general knowledge of the supply chain and I now feel more educated on the concepts and how operations, specifically support supply chain strategy and logistics execution.What approaches could have yielded additional valuable information? The chunking approach to information and building up of concepts week to week was beneficial to me. Perhaps adding a case study assignment may have helped internalize the concepts and learnings. For example, say students would write up a high-level supply chain and logistics strategy plan for their newly formed company which is considering expanding international operations. Overall, I find value in the current approach, but this may help students put on critical thinking skills to work, on top of the research that must be done.References:Goldston, J. (2020, July 21). SCM 210: Live Chat 3 [Chat]. Retrieved from Colorado Technical University, Virtual Campus, Live Chats: https://ctuadobeconnect.careeredonline.com/pdmn5by7yekdplayer/?session= breezbreezs6zgg4mx93rqd9mf Second Student: Ivette I believe that the whole course taught me a lot about logistics and supply chain management but if I had to choose between 3 main concepts that helped me the best in understanding it would have to be the introduction to logistics. When it broke down and explained all the different types of logistics, the importance of logistics in a business.The second concept that not only did I learn from but that I enjoyed would have to be the customer relations metrics because it showed me that the customer opinion truly matters and that customer service is vital, customer satisfaction and making sure that the orders are accurate as well. All of these things play a big part in ensuring that customers will want to continue to come back.The third would have to be the total supply chain cost and performance because it shows that companies have different KPI’s but that no matter what those are, it will always come down to the same supply chain process, raw material, labor and overhead.Overall, this course has given me tangible consideration that I can use and apply to my everyday life and also for my future. I will now be more aware and attentive to things in the stores I purchase goods from and know the way products are manufactures which is really interesting to me. I also think that is has prepared me in knowing the pros and cons of doing international business and if ever I would want to open my own business I will be ready to do so having what I have learned as a guide line to lead me to manage my business the best way possible so I am grateful for that.

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