MBA SYLLABUS IST YEAR 2ND SEM - MARKETING MANAGEMENT

 

DAILY MUSING - POSTCARD POSTS - PROBLEM OF PLENTY

The rate found a heap of food in its hole. The rat was very happy. A plenty of food solved his food problem. For weeks together. The rat became fat by eating food that came easy to him. An oversized fat rat was too big to stay in that hole. All the food choked the hole. The rat could neither stay in the hole nor could come out easily. The problem of plenty took the rat's life.

DAILY MUSING - FROM PERSONAL ARCHIVES - POSTCARD POSTS- THERE IS NOTING FREE LUNCH IN THE WORLD -ECONOMIC

There is no such thing as a free lunch there is impossible to get something for nothing. The act of benevolence also needs money . Free vaccine sounds appealing and should be government’s responsibility to protect its citizen from the pendemic. But this funding comes at a huge cost to exchequer. The total income from the GST tax collection is expected to be 1.24 lac crore whereas total funding free vaccination programme is estimated to be more than 1.50 crore. The earning prospect appears very bleak because the economy is heading towards negative growth due to prolong lockdown impacted the industries across the sectors. So there is a little money left with the government to fund other welfare measures.

DAILY MUSING - POST CARD POSTS- DO NOT IGNORE PAIN

What is fragile should be handled with care pain is also one such thing. We do often endure pain only to become a chronically sick in future. Debt, Sugar & starorids are the hidden habitual risks disguise as immediate relief. Waiting patiently for relief sometimes proves costly. It usually comes in form of bailout, insulin and costly rehabilitation with inevitable side effects to the health and prosperity.

DAILY MUSING - FROM PERSONAL ARCHIVES - Does voice carry truth? Don’t be annoyed.

Does voice carry truth? Don’t be annoyed. The French NGO Sherpa & Media-part investigative news website has finally found the smoking gun. They discovered suspicious payments, hidden commissions and bribes paid to Indian intermediaries by Dassault Aviation and the removal of anti-corruption clauses from the deal. They also managed to file a case against the company and the French Government in court. The Indian Government has successfully used nationalism as the smokescreen to cover up the whole affairs. Now smoke has finally vanished and the truth surfaced. The public spirited activists have found their voice again. They fought for seeking the truth behind the deal. The general public thought the Rafael controversy was buried because the Supreme Court refused to intervene. The Modi Government must be annoyed at how the dead cat has bounced back

MBA SYLLABUS 1ST YEAR 2 SEM E- BUSINESS

 Supply Chain Basics

 A supply chain is a network of people, processes, resources, and technologies in an organization that work collectively to produce products and services for an end user, or customer. Supply chains have existed since people began trading goods and services. They have evolved from exchange trading on the Silk Trade road in the 1400s through supplying the troops in World War I and World War II to the complex networks of today’s global supply chains. Supply chains now consist of multi-national, global networks of companies working together to build products and provide services.

 What is a Supply Chain? 

A supply chain is a network of individual functions within an organization that begins with the development of a strategic plan and ends with the delivery of a product or service. 

Those functions are  below; 

: • Demand Planning • Supply Management and Procurement • Inventory Management • Warehousing Operations • Manufacturing and Service Operations • Transportation Operations • Customer Service Operations 

It is immensely dangerous to business health to manufacture a product without first planning what inventory will be required and when it will be needed. It is equally risky to attempt to obtain goods and materials from suppliers without a demand plan that feeds procurement purchase requisitions in order of priority based on need dates and supplier lead times. Without linkages in the entire supply chain, chaos would occur and the company would soon have to close its doors. Now it is easier to see that the demand plan drives and signals procurement for the orderly acquisition of goods and materials, which in turn enables an organization to receive and stock inventory in a warehouse, etc. 

For example, before tomato sauce can be made available to consumers, it goes through many steps from farmers to retailers. Farmers buy seeds and fertilizers to grow tomatoes, which are sold as raw material to food processors that employ their factories to convert the tomatoes into tomato sauce, juice, canned tomatoes, and ketchup. To convert the fresh tomatoes, processors need to purchase other raw materials, such as vinegar, salt, spices, cans, and labels; therefore, food processors must work with many different suppliers. The finished products are then combined into larger packages, transported to warehouses, and subsequently distributed to grocery stores. There are often levels of suppliers within a supply chain called tiers. Suppliers that sell directly to factories or main operators are referred to as tier one suppliers; suppliers that sell to tier one suppliers are referred to as tier two suppliers.

 This cycle continues into tier three suppliers, tier four suppliers, etc. The final customers who purchases and consumes products and services are called consumers or end customers. End customers’ needs and wants are the driving force behind the entire supply chain. They are the ones who create demand and ultimately pay for all the product and service functions in supply chains. Without end customers, supply chains would collapse due to a lack of demand for products and services.

Therefore, at any point in the supply chain, focus on the needs and wants of end customers must be maintained. For that to occur, careful attention must be placed on the values and expectations of each element of the supply chain leading to end customers; this approach, which keeps the end customer in mind even several steps away from the point of sale, is referred to as the voice of customers. Examples of Supply Chains in Use All companies are part of at least one supply chain, whether they sell directly to the end customers, provide services, manufacture products, or extract raw materials from the earth 

 For example, a customer may go to a Walmart store to buy laundry detergent. In this case, the supply chain begins by planning to satisfy customer needs through a sales forecast for laundry detergent. 

Proctor & Gamble, as a manufacturer of detergents, develops a forecast for sales; 

from that forecast, 

a demand plan is developed that enables its procurement department to procure the raw materials used to make the detergent along with plastic containers, labels, and other necessities

. These procured items are received, stored, and then used in the manufacturing process.

 The individual completed containers of detergent are then packaged in boxes for shipment, transported to distribution centers, and ultimately delivered to retailers like Walmart. 

Another supply chain example is based on a customer who needs to purchase laptop computers online. 

The supply chain includes: 

• Defining how many laptops might be sold in a given period (like an annual sales forecast) • Creating the demand plan to procure the necessary components (inventory) from suppliers to assemble the laptops 

• Designing the value-added facility where final laptop assembly will occur

 • Ensuring a system exists to control and issue the inventory

 • Implementing a team of customer service representatives to take orders and interface with end customers, including Internet live chat to answer questions and provide recommendations 

• Ensuring assembled laptops are adequately packaged for transportation and reliable carriers are used to deliver the final laptop and associated peripherals