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Creative Thinking papers will test your understanding on applying the material you have read. Submissions should reflect that you have read the material, that you completed research on the topic, and that you put thought into your company and product. I suggest reviewing the requirements and PROOF READING your paper before submitting. Your grades reflect your effort. Each paper will be worth 100 points which is the equivalent of a test grade. Please keep this in mind while you are working on them.
The papers are to be a Microsoft Word document, a minimum of 3 pages, and MUST be in APA format. There is a weekly folder titled “APA Writing GUIDES” for assistance, and you may also visit the Student Services Center on campus. In addition to APA format, the paper needs to:
Be error-free and correct in both capitalization and punctuation.
Include at least one source within the paper and include a Reference page in APA format. Headings and Endnotes within the paper are not required.
Be submitted through the Course Content module in the corresponding assignment no later than the posted due date.
The grading rubric is attached.
Creative Thinking Assignment #1
Choose one (1) existing company or create a “fake” company to use for the duration of this course. Your company must MAKE something. A boutique shop, information center, or service center cannot be used. You can make up any company you would like, just keep in mind that you will need to do some market research in the future. In Creative Thinking assignment #1, address the following:
Write a proper mission statement for your company. *For help with a mission statement, use the tools in the Additional Content folder. A mission statement is not a generic statement, such as “Our Company will sell quality products at the lowest cost and provide excellent customer service”. This is a poor mission statement — it says nothing about your company or your company’s goals! This is important to understand because every decision a company makes should support its mission statement. For example, the above generic mission statement could be used for both Ford and Nike, but take a look at their mission statements: Ford’s mission statement, and Nike’s mission statement. Notice how neither of them mention their product or price? Here is a great analysis on Nike’s mission statement: http://panmore.com/nike-inc-vision-statement-mission-statement
II. From LB #1: Describe your product and procurement functions
What does your company manufacture? Identify the different key inputs you need to manufacture your product: What raw or intermediate goods and services are needed? What capital equipment is needed?
Where is your company located? Is there one main office or are there locations in multiple states? What is the size of your company? Two employees, ten, one hundred?
Give one specific example using your product of how a cross-department team consisting of Operations, Engineering, Sales, and Marketing functions would work together to ensure the quality of your product is maintained.
Who are your customers? BE SPECIFIC. “Everyone” is not your customer – do you sell to wholesalers (https://mrcheckout.net/top-wholesale-distributors-list/)? Do you sell to retail shops? Do you sell directly to individuals? Elaborate on this.
III. From LB #2: Identify your suppliers and sourcing strategy
Who are your suppliers? Name and describe TWO (2) specific, real-world suppliers you would consider using and what they would supply to you. This can be for raw materials, semi-finished goods, capital equipment, MROs, accessory equipment, services, major subcontracted items.
What quadrant in the portfolio matrix (Transaction, Market, Critical, Leverage) does each item fit into, and why?
What is one item you will purchase from a global supplier? Research a company that supplies this item and describe the following:
What country is it from?
What is the language of that country?
What is the exchange rate for that country? (This should be referenced and cited!)
IV. From LB #3: Describe your supplier evaluation criteria
Pick THREE (3) of the criteria listed in the learning module and develop a scorecard you will use to evaluate your suppliers. Your score card must have at least TWO (2) measurable deliverables in each area, include a weight for each criteria, a rating, and a total score. Below is an EXAMPLE; you cannot use the example, you must determine measurement’s relevant to your company’s needs. Here is a good article to get your thoughts started: https://www.industryweek.com/supply-chain/supplier-scorecards-choose-these-metrics-improve-your-partners-performance
Example scorecard categorized by Area, points, and weights
V. From LB #4: Describe using supplier contracts
Identify ONE (1) item you will purchase from a supplier that will use a long-term contract.
What type(s) of power will you use in your negotiation for this contract? What type(s) of tactic will you likely use, and why?
Include one of the following:
Develop a sample contract that has a master purchase of goods agreement and a SOW,
Use your favorite Internet search engine to research and find an existing contract for the item you list above. The contract MUST contain a purchase agreement and SOW. Attached the example to your paper, and be sure to REFERENCE and CITE this work properly!