Total supply requirements

Determine total supply requirements by year and estimated costs for the three years. Apply frameworks to determine the locations from which to source supply requirements, manufacture the handbags, and identify a 3PL partner. There should be three to five pages per selection. (15 percent)

Sample Solution

he costs associated with it. It would have given the management a clear path about how to tackle threats involved in the home improvement industry. This eventually would have led to attacking their competitor, Westfarmers, in a more effective strategy.

On the contrary, being too focused on the risks involved would have limited the scope of growth and innovation (John, Litov, & Yeung, 2008). This could have been the board’s initial thoughts on going ahead with the Masters Home Improvement idea.

However, it is quite evident that the advantages of having a risk committee to continuously monitor the strategic risk framework outweighs the disadvantages, specifically in Masters case. Though Woolworths Ltd formulated an Audit, Risk Management and Compliance Committee (ARMCC), it did little to predict and place attention on the flawed plan to enter the home improvement sector.

Principle 2 states that any listed entity “should have a board of an appropriate size, composition, skills and commitment to enable it to discharge its duties effectively” (ASX, 2014). A structured board provides valuable insights regarding varied aspects of any project. A well composed board is a step to eliminate overlooking important but often not easily recognizable issues (Baysinger & Hoskisson, 1990).

On the other hand, with too many brains from different fields come different ideas. This may make it difficult to focus on one situation. In Masters case, it is quite evident that there are directors with great retail industry experience, though little in home improvement sector (Woolworths Ltd., 2015).

It would be safe to say that though the board did not have industry-specific knowledge, they did have the experience to deal with entry into a completely new market. However, frequent changes of managing directors questions the board’s commitment, which is an important aspect of

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