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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Week 4 Chapter questions

Week 4 Chapter questions

Q 6-5: Name and describe the steps in the supplier selection and evaluation process. 6-13: What are some of the challenges of implementing a global sourcing strategy? 6-18: Discuss some of the ethical issues that are associated with procurement. 14-9: Discuss four (out of eight) possible functions that might be performed by international freight forwarders. 14-19: What are some of the challenges associated with inventory management in cross-border trade?

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The supply necessity is to be recognized. The supply need can occur from the completion of a prevalent agreement of supply or a new product development. Analysis of situation is performed. The analysis of situation views both the external and internal environment in which the decision of supply is taken. The potential suppliers are assesses and recognized. Potential suppliers are the ones who outlines potential information sources, develops criteria of selection, and allots weights to criteria of selection is assessed and recognized. Suppliers are chosen. This is where one or more than one firms are chosen in order for relevant products to be supplied. The decisions are assessed. This contains a comparison between actual performance of supplier and anticipated performance of supplier is evaluated ("Supplier selection process", 2019).