6 page research paper detailing best practices, organizational impacts, and benefits in building...

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6 page research paper detailing best practices, organizational impacts, and benefits in building effectice chain partner relationships

A ttps//courserce EY Assessment 2 Instructions: Devel x ma.capella.edu/webapps/blackboard/con ¥ r 4 tent/listContent.jsp?course id =.389574 1&content id= 1 2044819 i Contact faculty with questions. Your Role Option 1 You are a supply chain manager for with your selected vendor, while se JM Manufacturing and are tasked with building a business relationship arching for an alternative vendor. This alternative supplier can solve two for the first vendor in the event the business partnership does not work the event of a Catastrophe. You are tasked with preparing a research report on developing supplier relationships for senior leadership. A ttps//courserce EY Assessment 2 Instructions: Devel x ma.capella.edu/webapps/blackboard/con ¥ r 4 tent/listContent.jsp?course id =.389574 1&content id= 1 2044819 i Contact faculty with questions. Your Role Option 1 You are a supply chain manager for with your selected vendor, while se JM Manufacturing and are tasked with building a business relationship arching for an alternative vendor. This alternative supplier can solve two for the first vendor in the event the business partnership does not work the event of a Catastrophe. You are tasked with preparing a research report on developing supplier relationships for senior leadership. Requirements Include the following in your research report: * Assess how best to implement the best practices of relationship building for the selected vendor. Include a realistic timeline for entering into and working through the intricacies of the vendor relationship. Analyze the potential impact of black swan events on global supply chain sourcing. Pick two events to analyze. (For example, terrorist activities such as the 9/11 attack, earthquakes and the Fukushima accident, or political events such as the collapse of the Soviet Union.) * Analyze how an alternative vendor mitigates the impact stability, geography, international relations, and eco Recommend an alternative vendor to meet su ply best choice for your organization. Be sure to selection. black swan event. Consider political HE TLITTIAAAS . Late RENT 1 Lic eeshn) Evaluation By successfully completing this assessment, you will demonstr ate your proficiency in the following course competencies through corresponding scoring guide criteria: * Competency 2: Analyze effective sourcing practices that support organizational needs. © Analyze how an alternative vendor mitigates the impact of a black swan event. Competency 3: Apply inventory man agement strategies that achieve quality and efficiency throughout the product life cycle. © Analyze the potential impact of black swan events on global supply chain sourcing. » Competency 4: Develop strategies to establish and maintain effective supplier relationships. © Assess how best to implement the best practices of relationship building for the selected vendor. * Competency 5: Apply ethical andlegal principles to supply chain sourcing practices. © Recommend an alternative vendor to meet supply chain needs. Competency 6: Communicate in a manner that is professional and consistent with expectations for members of the business professions. © Writes coherently to support a central idea with correct grammar, usage, and mechanics as expected of a business professional. Faculty will provide feedback as if they were the recipient of your deliverable in the workplace, using the scoring guide. Refer to the scoring guide to ensure that you meet the grading criteria for this assessment before submission. SL Type here to search

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Deblina · Accepted Answer

Business Relationship and Supply Chain Management	                                       2
BUSINESS RELATIONSHIP AND SUPPLY CHAIN MANAGEMENT
Table of Contents
Overview	3
Developing Supplier Relationship	3
Sourcing Practices	4
Analysis of Black Swan events on Supply Chain Sourcing	5
Alternative Vendor mitigates the Black Swan Impact	6
Implementing best practices with the alternative vendor	6
Recommendation	7
References	9
Overview
Supplier relationship development refers to the process of building and maintaining a strong relationship with suppliers. The effective focus of supplier relationship development is to create a mutually beneficial partnership between the company and its supplier which can lead to improved quality and increased innovation in terms of reliable delivery schedules. Effective supplier relationship development requires a shift in the mindset from viewing the suppliers as a simple transactional relationship to seeing them as a strategic partner in the success of the company. So, it is effective to consider various factors in terms of choosing a potential supplier that involves effective collaboration to develop a shared understanding of the goals and priorities of the organization.   
Developing Supplier Relationship
In this aspect, supplier relationship development is essential in the present global economy where companies are increasingly reliance on suppliers to provide goods and services from all over the world. This is a crucial and robust measure for defining a supplier relationship development strategy to ensure that they can maintain high levels of quality and responsiveness from their suppliers. Relationship development is not a one-time activity but an ongoing process that requires regular attention and maintenance. Companies must be willing to invest time and resources into building and maintaining strong supplier relationships and continually work to improve and refine their processes for managing supplier relationships (Scholten et al., 2020). This report shall deliberately contemplate analyzing the relationship building for a selected vendor of JM manufacturing. It would include a realistic timeline for entering into and working through the intricacies of vendor relationships. The context would also analyze the potential impact of the Black Swan events on Global supply chain sourcing. For that, it would also analyze how an alternative window can mitigate the impact of the black swan event.
Sourcing Practices 
Effective Sourcing practices that can be critical in terms of addressing the success of the organization will be discussed in this segment. Sourcing is the process of identifying evaluating selecting and managing the suppliers who can provide goods and services to meet the organization's needs. This analysis will focus on some effective Sourcing practices that support the organization's needs. Firstly, the development of a sourcing strategy is essential to identify the needs of the organization and assess the market and evaluate the suppliers. It is effective to consider a well-defined sourcing strategy that can help organizations identify the most suitable suppliers and negotiate favorable terms (Luo et al., 2020). Evaluating the suppliers is a crucial step in the sourcing process. In this aspect, it is effective to consider that organizations must assess suppliers' capabilities and financial stability along with the quality of production services. 
The process of evaluation will not only help the organization to identify the most reliable and qualified suppliers but will also effectively determine the strategies that can be sustainable for the long-term aspect of the company.

A ttps//courserceEY Assessment 2 Instructions: Devel xma.capella.edu/webapps/blackboard/con¥ r 4tent/listContent.jsp?course id = XXXXXXXXXX&content id= XXXXXXXXXXiContact faculty with...

Answer To: A ttps//courserceEY Assessment 2 Instructions: Devel xma.capella.edu/webapps/blackboard/con¥ r...

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