Overcoming Barriers that Avert Full Optimization of CPFR from Occurring
In the effective implementation of the CPFR program, the significant challenges include high development and operational costs that might not be obtained by the collaborative companies (Panahifar, Byrne & Heavey, 2015). Additionally, the problems include lack of trust, unrealistic objectives, unwillingness to exchange information, and poor leadership. Therefore, to reduce the challenge of substantial operational cost, the companies need to develop systems that are compatible with all the industries. Notably, trust must be built between the partners through the creation of legally binding agreements to avoid cases of mischief among the associates (Panahifar, Byrne & Heavey, 2015). Equally, effective leadership that entails being democratic is an essential element in attaining full optimization of the CPFR.
Is it Appropriate to buy from a Vendor at a Price that Enhance Business Loss?
Price is an essential element in a business as it can enhance or limit the success of the entity. Buying a product at a rate that can lead to a business loss is unethical since the growth of the business depends on the level of profits made. Additionally, the benefits that accrue from the enterprise are used to boost the remaining stock thereby facilitating the expansion of the commerce (Tang, 2014). Profits are also used to determine the efficiency of the enterprise.
Roles of Supply Chain Management in Global Social Issues
Global supply management can play a significant role in enhancing the business brand and promoting product in new countries. For instance, the global supply can ensure that the products offered to the people do not inflict harm and are of quality. Additionally, the commodities should not conflict with the cultural beliefs of the society as this can significantly affect the success of the company. Creating a multi-cultural team in the supply process can be used by the supply management to enhance business marketing in the new country.
Panahifar, F., Byrne, P. J., & Heavey, C. (2015). A hybrid approach to the study of CPFR implementation enablers. Production Planning & Control, 26(13), 1090-1109.
Tang, Y. (2014). Trade credit and profitability in small and medium enterprises (Bachelor’s thesis, University of Twente).