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DRIVE summer 2014
PROGRAM/SEMESTER
MBADS (SEM 4/SEM 6)
MBAFLEX/ MBAN2 (SEM
4)
PGDSCMN (SEM 2)
SUBJECT CODE &
NAME SC0009–SUPPLY CHAIN COST MANAGEMENT
BK ID -B1664
CREDITS AND MARKS
-4 CREDITS AND 60 MARKS
Q.1. Write short
notes on: ( Methods of calculating costs of inventory, Cycle time, Various costs included in transaction costs, Different methods for identifying fair and
reasonable pricing) 10(2.5 marks each)
ANS:
Methods of calculating costs of inventory: The different methods of calculating the costs of
inventory include the following:
·
FIFO method – First In First Out method.This
method assumes that the inventory is consumed in chronological order.
Q.2. What are the
tasks that an organisation needs to perform before implementing the cost management
strategy? { Listing of the tasks, Brief discussion on the tasks ( Reviewing
business plan and procurement /marketing strategy, Identifying participants for cost management
team, Selecting primary costs to be
managed, Building rest of the cost
management team) } 2,8
ANS:
Listing of the tasks: Before
implementing the cost management strategy, an organisation needs to perform the
following tasks:
·
Reviewing
business plan and procurement/marketing strategy
·
Identifying
initial participants for the cost management team
·
Selecting
primary costs to be managed
Q.3. What is
process costing? Discuss the steps involved in process costing method. (Definition
of the process costing, When to use process costing, Discussion of steps in
process costing (what it involves and examples) 1, 1.5, 7.5
ANS:
Process costing: Process costing is a method that
assigns production costs to units of output. The production costs are
traced first to the production departments and then to units of output
as they travel through the departments. This type of a costing method is
used typically for processes that produce large quantities of
homogeneous products.
Q.4. Discuss the
steps involved in overcoming the constraints of cost management plan. ( Description of constraints a company faces,
Discussion on steps to overcome constraints, Conclusion) 4,5,1
ANS: Description of
constraints a company faces: the
main constraints that a company faces are:
·
Equipment constraints - These constraints occur when
certain manufacturing equipment are unable to achieve the level of output
required by the market, due to the configuration used.
Q.5. HP Experiences
Cost Savings And Exhibits Environmental Responsibility Through Sustainable
Supply Chain Solutions
HP is committed to
its role in creating a low-carbon economy. The leading technology company was
one of the first to measure and report its global logistics and manufacturing
carbon footprint, so transitioning to more sustainable supply chain operations
was a critical next step. HP leveraged its existing relationship with ModusLink
to develop a sustainable supply chain strategy. For more than 20 years,
ModusLink has managed the company’s complete supply chain for commercial
accessories in North America and EMEA, including procurement, kitting and
distribution into direct and indirect channels. ModusLink’s cradle-to-cradle
approach includes services ranging from sustainable packaging redesign and
network optimization to GHG footprinting, recycling and asset disposition. HP
was seeking to accomplish two major goals: Get fully solved
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·
Significantly decrease its GHG
emissions
·
Reduce logistics and
transportation costs
In order to achieve
these goals, ModusLink used a combination of sophisticated tools, existing
relationships with key sustainable materials suppliers, and an in-house team of
experts to conduct a thorough analysis of HP’s supply chain network and
operations. This analysis confirmed that an eco-friendly product packaging
redesign would significantly reduce HP’s environmental impact and its logistics
costs. The existing packaging design consisted of large boxes and non
biodegradable foam. ModusLink has developed a 4D methodology — a process that
analyzes ergonomics, cost, logistics and sustainability — to redesign product
packaging using less materials, eliminating plastic and finding more
environmentally sound alternatives. As a result, the foam was replaced with
protective end-caps made from 100 percent recycled plastic, and cubic feet and
pounds of the finished packaging were significantly reduced.
The 4D Methodology
for Product Packaging
1. Ergonomics
·
Design for easier assembly
·
Design for a supreme
point-of-purchase and out-of-box experience
2. Cost
·
Reduce materials where possible
·
Use cost-effective materials
3. Sustainability
·
7Rs concept (Remove, Reduce,
Recycle, Renew, Revenue, Read)
·
Determine CO2 footprint via ECRM
scorecard
4. Logistics
·
Reduce empty space and size for
pallet maximization and freight reduction
·
Reduce packaging while still
protecting the product
ModusLink then conducted
a network simulation and GHG analysis incorporating the new packaging design to
understand the impact on transportation cost and other factors in the supply
chain. The analysis showed that HP could reduce GHG emissions by 10 metric tons
per year and yield transportation cost savings of more than $50 thousand per
year, which is a savings of 12 percent per unit. With more compact,
eco-friendly packaging in place, HP continues to uphold its commitment to the
environment while benefiting from the cost savings and efficiency resulting
from a more sustainable supply chain.
Results:
HP experienced
substantial, measurable savings:
Direct Packaging
Benefits Per Year
·
More than 350 thousand U.S.
dollar savings in packaging
·
materials alone
·
74 thousand cubic feet removed
from packaging
·
88 thousand pounds of packaging
eliminated
·
62 metric ton reduction in GHG,
equaling:
·
11.9 passenger cars driven in one
year
·
144 barrels of oil saved
·
6,974 gallons of gasoline
·
20.9 tons of waste recycled , not
sent to landfills
Estimated Indirect
Savings Per Year
·
More than 50 thousand U.S.
dollars in outbound transportation costs
·
10 metric tons less packaging
Why did HP redesign
its packaging? How did they achieve these goals? ( listing of the reason to
reduce cost, Summarization of the analysis of HP’s supply chain, findings,
redesign product, packaging, analysis of the redesigned packaging, Evaluation of benefits, Conclusion) 2,5,2,1
ANS:
Why did HP redesign its packaging: The
effectiveness of the product and packaging has an impact on other functional
efficiencies of the organisation. Marketing and sales will not function in a
planned way if the products are damaged during handling or shipment. Fragile
products require special handling which costs more than the usual costs.
Failure in designing and packaging of a product results in unnecessary expenses
in production and labour, in handling or product distribution. In addition to
this, improper product and package design consumes more time in packing and
loading/unloading. Redesigning packages increases the planned cost. An
integrated product and
Q.6. Healthcare
supply chains face many challenges
By NCT11. October
2013
Medical supplies
and equipment are a significant cost center for hospitals.Medical supplies and
equipment are a significant cost center for hospitals. An aging population
continues to place pressure on the healthcare industry. Hospitals are expected
to deliver immediate care to anyone who walks through the door, but the number
of people needing treatment is likely to continue to grow. This dynamic is
creating new jobs within the industry - more than 5.6 million positions are
expected to be created by 2020, according to a study from Georgetown
University's Center on Education and Workforce, as reported by The Huffington
Post. However, the growth is also placing new demands on supply chains. The
Supply Chain Council noted that healthcare organizations may have to absorb 10
to 20 percent more capacity to account for the increase in equipment and
medications needed to treat an aging population. There is already considerable
pressure to reform hospital distribution networks, as the supply chain can
represent nearly half of healthcare companies' operating costs, making it the
second largest expense behind labor. A blog post on the medical site KevinMD
stated that changes in supply chain management could contribute to significant
saving for hospitals.
Overcoming
obstacles with effective shipping
Hospitals face
several challenges when it comes to streamlining their supply chains. The first
is the need to cover emergency care. On any given day, a facility may have the
need for a wide range of equipment and medications. Regular, timely deliveries
ensure they have the supplies they need. The second issue facing healthcare
supply chain reform is the range of products required. Everything from cardiac
stents to artificial joints may be needed at anytime. To complicate the
situation, physicians may have preferences for select brands of medications.
More products create complex distribution networks, but hospitals could benefit
from LTL freight management. This shipping strategy lets organizations move
various quantities of goods from a variety of locations at minimal costs. The
carriers are able to use product to increase capacity, reducing their overall
operating expenses, and the savings are passed along to customers. Switching to
LTL services could help hospitals gain control of supply chain costs. Product
quality is essential to controlling expenses in the healthcare industry. Pharmaceuticals
that are stored wrongly could deteriorate and become ineffective. Keeping
merchandise at the ideal temperature is essential for reducing waste within supply
chains, and hospitals can use refrigerated trucking services to maintain the optimal
climate for medications during delivery. This provides the guarantee that shipments
will arrive as scheduled and in good condition chains-face-many-challenges
What are the challenges
faced by hospitals in streamline their supply chain? How can these be overcome?
(Listing and brief explanation of the challenges, Solution to overcome the
challenges) 5, 5
ANS:
The challenges faced by hospitals in streamline their supply chain: Streamlining
the Healthcare Supply Chain are
the second biggest cost drivers after labour in the healthcare industry. Millions of products move through the healthcare supply chain daily through
manufacturers, distributors, Group
Purchase Organisations (GPOs), healthcare providers to patients. Healthcare
supply chains are very fragmented. Here, the manufacturers, wholesalers, distributors, group purchasing organisations and providers work
independently throughout the chain,
but still will interact
Get fully solved
assignment, plz drop a mail with your sub code
computeroperator4@gmail.com
Charges rs 125/subject and rs
700/semester only.
our website is
www.smuassignment.in
if urgent then
call us on 08791490301, 08273413412
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