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A supply chain is a network of organizations, people, activities, information, and resources involved in creating and delivering a product or service to customers. It encompasses all the steps from the initial raw materials to the final delivery of the product to the end consumer. It includes processes such as sourcing, production, logistics, distribution, and often involves suppliers, manufacturers, wholesalers, retailers, and transportation networks working together to fulfill customer demands.

Amazon Web Services (AWS) is a cloud platform offered by Amazon that stores its customers' data, runs their online activities and more. Amazon will impose new fees on third-party sellers who ship their products to customers instead of using the company’s fulfillment service. Effective October 1, the company will get a 2% cut of every product sold by merchants that are members of Amazon’s Seller Fulfilled Prime Program, or a minimum of $0.25 per item, according to a notice sent by the company. TPRM Software May Be Better Than You Think TPRM SOFTWARE | Sponsored Click Here Launched in 2015, the Sellers Fulfilled Prime program allows merchants to display a Prime badge on their listings without using Amazon’s fulfillment service, Fulfillment by Amazon. In return, sellers have to fulfill orders with one-day and two-day delivery at no additional charge for Prime customers, who pay a monthly fee for faster shipping and other perks. Amazon suspended enrollment in the program a few years ag...

  Market Segmentation: This involves dividing the market into distinct groups based on certain characteristics such as demographics, geography, behavior, and needs. It helps in tailoringproduct offerings and marketing strategies to meet the specific requirements of different customer segments. 2. Demand Planning and Forecasting: This involves generating accurate demand forecasts to better manage inventory levels and optimize production and sourcing activities. It covers various forecasting techniques, such as time series analysis, causal analysis, and qualitative methods, along with the process of creating a demand management plan. 3. Customer Relationship Management (CRM): CRM focuses on building and maintaining strong relationships with customers, aiming to enhance customer satisfaction and loyalty. This module covers strategies for understanding customer needs, improving customer service, and leveraging technology to manage customer interactions effectively. 4. Customer Order Ma...

  1. Review Contract Terms: Before initiating the closing process it is important to review the contract terms and ensure that all parties have met their obligations as stated in the agreement. 2. Performance Evaluation: Evaluate the performance of the contractor against the agreed-upon deliverables and specifications. Ensure that the contractor has fulfilled their obligations satisfactorily. 3. Final Inspections: Conduct any necessary final inspections or quality checks to ensure that the goods or services delivered are in compliance with the contract requirements. 4. Documentation: Prepare all final documentation required to officially close the contract. This may include acceptance certificates delivery notes performance reports and any other relevant paperwork. 5. Obtain Final Signatures: Collect the final signatures from all parties involved to acknowledge the successful completion of the contract. This may involve obtaining signatures from both the procurement team and the co...

Demand planning is a critical process for organizations to effectively plan their inventory, meet customer demand, and optimize their supply chain operations. This module covers various topics related to demand planning, including forecasting methods, data analysis, and collaborative planning. Forecasting methods help organizations predict future customer demand by analyzing h istorical data and identifying patterns or trends in customer behavior. Some common forecasting methods discussed in this module include time series forecasting, regression analysis, and causal forecasting. Data analysis plays a crucial role in demand planning. Module 3 delves into different statistical techniques and tools that can be used to analyze data, such as moving averages, exponential smoothing, and regression analysis. These analyses help organizations gain insights into customer demand patterns, seasonality, and the impact of external factors on demand. Collaborative planning is an essential a...

  Outsourcing refers to the practice of contracting out certain procurement activities or functions to external suppliers or service providers. Outsourcing can be applied to various procurement activities such as sourcing, supplier management, logistics, and even strategic decision making. Pros of outsourcing include: 1. Cost savings: Outsourcing can often lead to cost savings as external providers may have economies of scale and specialized expertise that can result in reduced costs. 2. Access to expertise: By outsourcing certain procurement activities, organizations can tap into the knowledge and skills of external providers who specialize in those areas. 3. Increased flexibility: Outsourcing allows organizations to adapt and scale their procurement operations based on changing business needs. 4. Risk mitigation: Outsourcing can help mitigate certain risks by transferring them to external providers who are better equipped to manage them effectively. However, there are also potent...

  The set of standards and requirements that organizations use to evaluate and choose suppliers or vendors for their procurement needs. These criteria can vary depending on the specific needs and goals of the organization, but some common vendor selection criteria include: 1. Price and Cost: Organizations often consider the pricing and cost structure of vendors to ensure that they can provide products or services at a competitive and reasonable price. This may involve comparing quotes and conducting cost analyses to select vendors that offer the best value for money. 2. Quality and Reliability: Organizations look for vendors that have a proven track record of delivering high-quality products or services. They may consider factors such as the vendor's reputation, certifications, past performance, and product/service reviews. 3. Experience and Expertise: Organizations may prioritize vendors who have extensive experience and expertise in the specific industry or field relevant to thei...