Prepare a 1,750-2,450-word paper in which you select appropriate metrics to measure the performance effectiveness of your supply chain (Team Project).
BE SURE TO ADDRESS ONLY QUESTION (C) :
a. Explain the importance of the chosen metrics.
b. How do these measurements help to ensure competitive advantage?
c. What actions should be taken based on an undesirable metric?
d. Forecast the trends that could impact Riordan Manufacturing's supply chain design both domestically and internationally.
e. Be sure to consider both strategic and tactical trends.
f. Discuss what impact these trends might have on the company's future supply chain changes.
The response addresses the queries posted in 456 words with references.
//Metrics is the concept that is employed for evaluating the efficiency of the organizational activities. Before starting a paper like this, it is imperative to interpret the meaning of the term metrics. In addition, the various types of metrics are also discussed that are adopted by the organization so as to estimate the efficiency of the organization in its functioning. //
Metrics is used to measure the effectiveness of the organizational activities. Metrics focuses on the measurement of the performance against customer requirements and the value. The SMART (specific, measurable, achievable, reliable and time bound) test is used to measure the quality of a particular performance metric. For measuring the performance of supply chain of Riordan Manufacturing, the various supply chain metrics can be used, such as Inventory Turnover, Cycle time, Perfect Order Measure and Balanced Scorecard.
Types of Metrics:
Ø Inventory Turnover: It measures the occurrence of the company's ...
The response addresses the queries posted in 443 words with references.