Supplier Management Quotes

A compassionate leader always feel motivated to bring happiness and relieve the suffering of customers, investors, suppliers, employees, government and the communities.

He envisions the supply chain as an “intricate network of suppliers, distributors, and customers who share carefully managed information about demand, decisions, and performance, and who recognize that success for one part of the supply chain means success for all.

In this chapter I will describe the effects of the data deluge on all members of society generally and how it erodes the confidence, judgment, and decisiveness of leaders in particular. Then I will show the paradoxical side of the data deluge. Despite its anxiety-provoking effects, the proliferation of data also has an addictive quality. Leaders, healers, and parents “imbibe” data as a way of dealing with their own chronic anxiety. The pursuit of data, in almost any field, has come to resemble a form of substance abuse, accompanied by all the usual problems of addiction: self-doubt, denial, temptation, relapse, and withdrawal. Leadership training programs thus wind up in the codependent position of enablers, with publishers often in the role of “suppliers.” What does it take to get parents, healers, and managers, when they hear of the latest quick-fix fad that has just been published, to “just say no”?

For an agile project, the ensemble includes core team members, customers, suppliers, executives, and other participants who interact with each other in various ways. It is these interactions, and the tacit and explicit information exchanges that occur within them, that project management practices need to facilitate.

Overnight, however, he apparently had second thoughts, or did some textbook reading on his own, and at the next meeting he turned to me as the first order of business. “On the black paint,” he said, “you were right about the advantages and I was wrong.” He handed me a quarter. It was a rare win. So Kelly approved my idea of painting the airplane black, and by the time our first prototype rolled out the airplane became known as the Blackbird. Our supplier, Titanium Metals Corporation, had only limited reserves of the precious alloy, so the CIA conducted a worldwide search and, using third parties and dummy companies, managed to unobtrusively purchase the base metal from one of the world’s leading exporters—the Soviet Union. The Russians never had an inkling of how they were actually contributing to the creation of the airplane being rushed into construction to spy on their homeland.

Organizations are no longer built on force but on trust. The existence of trust between people does not necessarily mean that they like one another. It means that they understand one another. Taking responsibility for relationships is therefore an absolute necessity. It is a duty. Whether one is a member of the organization, a consultant to it, a supplier, or a distributor, one owes that responsibility to all one’s coworkers: those whose work one depends on as well as those who depend on one’s own work.

that speaks to the little secret behind the relationships that small giants have with their suppliers and customers. It’s generally not the people at the top of the organization who create the intimate bonds. It’s the managers and employees who do the work of the business day in and day out. They are the ones who convey the spirit of the company to the outside world. Accordingly, they are the company’s first priority—which, from one perspective, is ironic. For all the extraordinary service and enlightened hospitality that the small giants offer, what really sets them apart is their belief that the customer comes second.

Shareholders have a residual claim on a firm’s assets and earnings, meaning they get what’s left after all other claimants—employees and their pension funds, suppliers, tax-collecting governments, debt holders, and preferred shareholders (if any exist)—are paid. The value of their shares, therefore, is the discounted value of all future cash flows minus those payments. Since the future is unknowable, potential shareholders must estimate what that cash flow will be; their collective expectations about the future determine the stock price. Any shareholders who expect that the discounted value of future equity earnings of the company will be less than the current price will sell their stock. Any potential shareholders who expect that the discounted future value will exceed the current price will buy stock. This means that shareholder value has almost nothing to do with the present. Indeed, present earnings tend to be a small fraction of the value of common shares. Over the past decade, the average yearly price-earnings multiple for the S&P 500 has been 22x, meaning that current earnings represent less than 5 percent of stock prices.

History favors the bold. Compensation favors the meek. As a Fortune 500 company CEO, you’re better off taking the path often traveled and staying the course. Big companies may have more assets to innovate with, but they rarely take big risks or innovate at the cost of cannibalizing a current business. Neither would they chance alienating suppliers or investors. They play not to lose, and shareholders reward them for it—until those shareholders walk and buy Amazon stock. Most boards ask management: “How can we build the greatest advantage for the least amount of capital/investment?” Amazon reverses the question: “What can we do that gives us an advantage that’s hugely expensive, and that no one else can afford?” Why? Because Amazon has access to capital with lower return expectations than peers. Reducing shipping times from two days to one day? That will require billions. Amazon will have to build smart warehouses near cities, where real estate and labor are expensive. By any conventional measure, it would be a huge investment for a marginal return. But for Amazon, it’s all kinds of perfect. Why? Because Macy’s, Sears, and Walmart can’t afford to spend billions getting the delivery times of their relatively small online businesses down from two days to one. Consumers love it, and competitors stand flaccid on the sidelines. In 2015, Amazon spent $7 billion on shipping fees, a net shipping loss of $5 billion, and overall profits of $2.4 billion. Crazy, no? No. Amazon is going underwater with the world’s largest oxygen tank, forcing other retailers to follow it, match its prices, and deal with changed customer delivery expectations. The difference is other retailers have just the air in their lungs and are drowning. Amazon will surface and have the ocean of retail largely to itself.

Unconditional blame is the tendency to explain all difficulties exclusively as the consequence of forces beyond your influence, to see yourself as an absolute victim of external circumstances. Every person suffers the impact of factors beyond his control, so we are all, in a sense, victims. We are not, however, absolute victims. We have the ability to respond to our circumstances and influence how they affect us. In contrast, the unconditional blamer defines his victim-identity by his helplessness, disowning any power to manage his life and assigning causality only to that which is beyond his control. Unconditional blamers believe that their problems are always someone else’s fault, and that there’s nothing they could have done to prevent them. Consequently, they believe that there’s nothing they should do to address them. Unconditional blamers feel innocent, unfairly burdened by others who do things they “shouldn’t” do because of maliciousness or stupidity. According to the unconditional blamer, these others “ought” to fix the problems they created. Blamers live in a state of self-righteous indignation, trying to control people around them with their accusations and angry demands. What the unconditional blamer does not see is that in order to claim innocence, he has to relinquish his power. If he is not part of the problem, he cannot be part of the solution. In fact, rather than being the main character of his life, the blamer is a spectator. Watching his own suffering from the sidelines, he feels “safe” because his misery is always somebody else’s fault. Blame is a tranquilizer. It soothes the blamer, sheltering him from accountability for his life. But like any drug, its soothing effect quickly turns sour, miring him in resignation and resentment. In order to avoid anxiety and guilt, the blamer must disown his freedom and power and see himself as a plaything of others. The blamer feels victimized at work. His job is fraught with letdowns, betrayals, disappointments, and resentments. He feels that he is expected to fix problems he didn’t create, yet his efforts are never recognized. So he shields himself with justifications. Breakdowns are never his fault, nor are solutions his responsibility. He is not accountable because it is always other people who failed to do what they should have done. Managers don’t give him direction as they should, employees don’t support him as they should, colleagues don’t cooperate with him as they should, customers demand much more than they should, suppliers don’t respond as they should, senior executives don’t lead the organization as they should, administration systems don’t work as they should—the whole company is a mess. In addition, the economy is weak, the job market tough, the taxes confiscatory, the regulations crippling, the interest rates exorbitant, and the competition fierce (especially because of those evil foreigners who pay unfairly low wages). And if it weren’t difficult enough to survive in this environment, everybody demands extraordinary results. The blamer never tires of reciting his tune, “Life is not fair!

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Performance measure. Throughout this book, the term performance measure refers to an indicator used by management to measure, report, and improve performance. Performance measures are classed as key result indicators, result indicators, performance indicators, or key performance indicators. Critical success factors (CSFs). CSFs are the list of issues or aspects of organizational performance that determine ongoing health, vitality, and wellbeing. Normally there are between five and eight CSFs in any organization. Success factors. A list of 30 or so issues or aspects of organizational performance that management knows are important in order to perform well in any given sector/ industry. Some of these success factors are much more important; these are known as critical success factors. Balanced scorecard. A term first introduced by Kaplan and Norton describing how you need to measure performance in a more holistic way. You need to see an organization’s performance in a number of different perspectives. For the purposes of this book, there are six perspectives in a balanced scorecard (see Exhibit 1.7). Oracles and young guns. In an organization, oracles are those gray-haired individuals who have seen it all before. They are often considered to be slow, ponderous, and, quite frankly, a nuisance by the new management. Often they are retired early or made redundant only to be rehired as contractors at twice their previous salary when management realizes they have lost too much institutional knowledge. Their considered pace is often a reflection that they can see that an exercise is futile because it has failed twice before. The young guns are fearless and precocious leaders of the future who are not afraid to go where angels fear to tread. These staff members have not yet achieved management positions. The mixing of the oracles and young guns during a KPI project benefits both parties and the organization. The young guns learn much and the oracles rediscover their energy being around these live wires. Empowerment. For the purposes of this book, empowerment is an outcome of a process that matches competencies, skills, and motivations with the required level of autonomy and responsibility in the workplace. Senior management team (SMT). The team comprised of the CEO and all direct reports. Better practice. The efficient and effective way management and staff undertake business activities in all key processes: leadership, planning, customers, suppliers, community relations, production and supply of products and services, employee wellbeing, and so forth. Best practice. A commonly misused term, especially because what is best practice for one organization may not be best practice for another, albeit they are in the same sector. Best practice is where better practices, when effectively linked together, lead to sustainable world-class outcomes in quality, customer service, flexibility, timeliness, innovation, cost, and competitiveness. Best-practice organizations commonly use the latest time-saving technologies, always focus on the 80/20, are members of quality management and continuous improvement professional bodies, and utilize benchmarking. Exhibit 1.10 shows the contents of the toolkit used by best-practice organizations to achieve world-class performance. EXHIBIT 1.10 Best-Practice Toolkit Benchmarking. An ongoing, systematic process to search for international better practices, compare against them, and then introduce them, modified where necessary, into your organization. Benchmarking may be focused on products, services, business practices, and processes of recognized leading organizations.

The first thing we have to do is to look ahead two to three sprints to understand which product backlog items are likely to be worked on (Cohn 2005, 206; Pichler 2008, 146). This requires decomposing and refining product backlog items earlier; more detailed items can now be found at the top of the product backlog. The next step is to identify any dependencies between the teams by asking the following questions: Do they have to work on the same feature or component? Does any team act as the supplier of another team? If so, is it feasible to supply the feature or component and use it in the same sprint? To eliminate problematic dependencies, we may have to change the product backlog prioritization.

They go out and visit the kinds of places they are learning about such as the county court system, the grocery store oe the Department of Water and Power. They come back to the classroom and discuss what’s going on in the world, and they get wood and tools and construct a scaled-down version of what they have seen. Usually the structure will take up the entire room. If it’s a grocery store, then one person will be the manager, another the cashier, or the supplier of produce to the store. They will find out through creative discussion and play what possible problems they can run into operating a grocery store and will work together to solve those problems.

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The definitive guide for beginning one’s own exciting tomato odyssey. —Chef Claud Mann, host of Dinner & a Movie on TBS (from the Foreword) It’s been over twenty years since the infancy of Tomatomania. Scott and I have worked hard to continue the excitement each year providing seedling starts, conducting educational lectures and Tomato Tastings. This continued energy has made Scott and Tomatomania the talk of the town. The hundreds of tomato varieties Tomatomania provides creates a hysteria among gardeners who can’t wait for Tomatomania events to open near their homes. As one of their original suppliers I learned and watched this hysteria grow to where it currently is today. The responses that Tomatomania received during the plant sale demanded multiple deliveries of fresh seedlings each day. —Steve Goto, expert tomato nurseryman, consultant, and lecturer Fruit geeks and tomatomaniacs rejoice! This lovely book has managed to capture the excitement, passion and deep understanding of all things tomato in its pages, going well beyond the 'how-to’ and into 'hell-yeah!' territory. For those of us who have held close the special tradition of springtime Tomatomania outings across California, we can now share their joy and subsequent bounty in all their glory. —Rick Nahmias, founder/executive director, Food Forward

Outsourcing requires a tight integration of suppliers, making sure that all pieces arrive just in time. Therefore, when some suppliers were unable to deliver certain basic components like capacitors and flash memory, Compaq's network was paralyzed. The company was looking at 600,000 to 700,000 unfilled orders in handheld devices. The $499 Pocket PCs were selling for $700 to $800 at auctions on eBay and Amazon.com. Cisco experienced a different but equally damaging problem: When orders dried up, Cisco neglected to turn off its supply chain, resulting in a 300 percent ballooning of its raw materials inventory. The final numbers are frightening: The aggregate market value loss between March 2000 and March 2001 of the twelve major companies that adopted outsourcing-Cisco, Dell, Compaq, Gateway, Apple, IBM, Lucent, Hewlett-Packard, Motorola, Ericsson, Nokia, and Nortel-exceeded $1.2 trillion. The painful experience of these companies and their investors is a vivid demonstration of the consequences of ignoring network effects. A me attitude, where the company's immediate financial balance is the only factor, limits network thinking. Not understanding how the actions of one node affect other nodes easily cripples whole segments of the network. Experts agree that such rippling losses are not an inevitable downside of the network economy. Rather, these companies failed because they outsourced their manufacturing without fully understanding the changes required in their business models. Hierarchical thinking does not fit a network economy. In traditional organizations, rapid shifts can be made within the organization, with any resulting losses being offset by gains in other parts of the hierarchy. In a network economy each node must be profitable. Failing to understand this, the big players of the network game exposed themselves to the risks of connectedness without benefiting from its advantages. When problems arose, they failed to make the right, tough decisions, such as shutting down the supply line in Cisco's case, and got into even bigger trouble. At both the macro- and the microeconomic level, the network economy is here to stay. Despite some high-profile losses, outsourcing will be increasingly common. Financial interdependencies, ignoring national and continental boundaries, will only be strengthened with globalization. A revolution in management is in the making. It will take a new, network-oriented view of the economy and an understanding of the consequences of interconnectedness to smooth the way.

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Of course, the topography of global finance has changed dramatically since the heyday of the House of Rothschild. Today there are no family-owned global institutions of any significance. Huge publicly listed banks, asset managers, private equity firms, hedge funds, and insurance companies dominate and operate around the globe. Regulators are powerful and ubiquitous. But some things remain constant. Global finance is not for the fainthearted; it is too complex, too volatile, too dependent on uncontrollable political events within and among countries. Global finance also relies heavily on trust between the suppliers and consumers of money. Mayer Amschel Rothschild and his sons were the essence of trustworthiness. Garnering trust has many dimensions, one of which is accountability. If a banker is held responsible for his mistakes, then his customer has more confidence in him. The Rothschilds could not hide behind public corporations that today essentially shield top individuals from the legal liability of big mistakes, as we have seen in the failure of prosecutors to charge and convict senior financial officials in the global crisis of 2008–9. Unfortunately, few institutions today can command the confidence that the Rothschilds engendered and that is essential to a healthy global economy. Other

legally protected patents, trademarks, brand name reputation, networks, trade secrets supplier and customer know-how ability to manage change, perception of quality

as the manager of the club explained, you didn’t have a dog and bark yourself. They brought in the punters – along with the named DJs, who were a breed apart already. Not that he was complaining, of course. And as he was now going to be one of the main drug suppliers, he knew that it would be like printing money. Clubs, drink, girls and drugs went hand in hand for this generation, and that suited him right down to the ground. He was meeting with Willy McCormack that evening. Angus knew him from the days when he used to come out here on holiday as a kid with his mum and dad. He had not known till recently that his mum had invested heavily out here and was considered one of the old guard by everyone. She was a shrewdie all right. If it had been left to his old man, he would have just treated this place as a massive piss-up. Angus knew that he had a lot of his father in him – he could be a flake. But he also knew that he had his mother in him too and he was determined to make sure that, as much as he liked to play, he got the work sorted first. He heard the bedroom door open and watched as a tall redhead with lightly tanned skin, wearing his soiled shirt, walked towards him. In the clear light of day she wasn’t as nifty as she had seemed the night before, but she was still what he would class a sort. She went into the small kitchen and started to make coffee. He assumed she had been here before, and that didn’t surprise him in the least.

Markets that do not exist cannot be analyzed: Suppliers and customers must discover them together.

The more ambitious the OKR, the greater the risk of overlooking a vital criterion. To safeguard quality while pushing for quantitative deliverables, one solution is to pair key results—to measure “both effect and counter-effect,” as Grove wrote in High Output Management. When key results focus on output, Grove noted: [T]heir paired counterparts should stress the quality of [the] work. Thus, in accounts payable, the number of vouchers processed should be paired with the number of errors found either by auditing or by our suppliers. For another example, the number of square feet cleaned by a custodial group should be paired with a . . . rating of the quality of work as assessed by a senior manager with an office in that building.

you can’t measure the value of what a company does by looking at how big it is and how much profit it generates. A company’s record of growth and the consistency of its financial returns may tell you something about the skill of its management team, but they say little about whether or not the business is contributing anything great and unique to the world. Instead, the small giants focus on the relationships that the company has with its various constituencies—employees, customers, community, and suppliers. Why? Partly, no doubt, because the relationships are rewarding in and of themselves, but perhaps also because their strength reveals the degree to which people are inspired by the company, and its ability to inspire them is the best measure of how they perceive the value of what the company does. If they are as passionate about it as the founders and leaders, the financial results are likely to follow.

After a time, the ads for POWER products grew less prominent in The Final Call; it seems that many who enjoyed Minister Farrakhan’s speeches continued to brush their teeth with Crest. That the POWER campaign sputtered said something about the difficulty that faced any black business—the barriers to entry, the lack of finance, the leg up that your competitors possessed after having kept you out of the game for over three hundred years. But I suspected that it also reflected the inevitable tension that arose when Minister Farrakhan’s message was reduced to the mundane realities of buying toothpaste. I tried to imagine POWER’s product manager looking over his sales projections. He might briefly wonder whether it made sense to distribute the brand in national supermarket chains where blacks preferred to shop. If he rejected that idea, he might consider whether any black-owned supermarket trying to compete against the national chains could afford to give shelf space to a product guaranteed to alienate potential white customers. Would black consumers buy toothpaste through the mail? And what of the likelihood that the cheapest supplier of whatever it was that went into making toothpaste was a white man? Questions of competition, decisions forced by a market economy and majoritarian rule; issues of power. It was this unyielding reality—that whites were not simply phantoms to be expunged from our dreams but were an active and varied fact of our everyday lives—that finally explained how nationalism could thrive as an emotion and flounder as a program.

Finally, I noticed the passion that the leaders brought to what the company did. They loved the subject matter, whether it be music, safety lighting, food, special effects, engineering, beer, records storage, construction, dining, or fashion. Though they were good businesspeople, they were anything but professional managers. Indeed, they were the opposite of professional managers. They had deep emotional attachments to the business, to the people who worked in it, and to its customers and suppliers—the sort of feelings that are the bane of professional management.

Much ink has been spilled over whether fascism represented an emergency form of capitalism, a mechanism devised by capitalists by which the fascist state—their agent—disciplined the workforce in a way no traditional dictatorship could do. Today it is quite clear that businessmen often objected to specific aspects of fascist economic policies, sometimes with success. But fascist economic policy responded to political priorities, and not to economic rationale. Both Mussolini and Hitler tended to think that economics was amenable to a ruler’s will. Mussolini returned to the gold standard and revalued the lira at 90 to the British pound in December 1927 for reasons of national prestige, and over the objections of his own finance minister. Fascism was not the first choice of most businessmen, but most of them preferred it to the alternatives that seemed likely in the special conditions of 1922 and 1933—socialism or a dysfunctional market system. So they mostly acquiesced in the formation of a fascist regime and accommodated to its requirements of removing Jews from management and accepting onerous economic controls. In time, most German and Italian businessmen adapted well to working with fascist regimes, at least those gratified by the fruits of rearmament and labor discipline and the considerable role given to them in economic management. Mussolini’s famous corporatist economic organization, in particular, was run in practice by leading businessmen. Peter Hayes puts it succinctly: the Nazi regime and business had “converging but not identical interests.” Areas of agreement included disciplining workers, lucrative armaments contracts, and job-creation stimuli. Important areas of conflict involved government economic controls, limits on trade, and the high cost of autarky—the economic self-sufficiency by which the Nazis hoped to overcome the shortages that had lost Germany World War I. Autarky required costly substitutes—Ersatz— for such previously imported products as oil and rubber. Economic controls damaged smaller companies and those not involved in rearmament. Limits on trade created problems for companies that had formerly derived important profits from exports. The great chemical combine I. G. Farben is an excellent example: before 1933, Farben had prospered in international trade. After 1933, the company’s directors adapted to the regime’s autarky and learned to prosper mightily as the suppliers of German rearmament. The best example of the expense of import substitution was the Hermann Goering Werke, set up to make steel from the inferior ores and brown coal of Silesia. The steel manufacturers were forced to help finance this operation, to which they raised vigorous objections.

Over 70 per cent of the medium and heavy commercial vehicles on Indian roads are made by Telco. Telco is able to manufacture 99.8 per cent of its parts in India. A family of 1,500 ancillary suppliers furnish all kinds of components. About 50 per cent of the parts that go into the trucks are supplied by them. Over the years each supplier has been trained by Telco engineers to provide the high quality of components required. For several years such was the demand for Telco trucks that they commanded a premium price in the market but Telco held its price line. I once questioned then chairman and managing director of Telco, Mr Moolgaokar, why he did that. He replied: ‘Profits should come from productivity and not by raising prices in a favourable market. Our greatest asset is customer affection.

He claimed to employ different tactics for different ships, but the basic strategy was crude in its simplicity. In attack groups spread amongst several small and speedy skiffs, Boyah and his men approached their target on all sides, swarming like a water-borne wolf pack. They brandished their weapons in an attempt to frighten the ship's crew into stopping, and even fired into the air. If these scare tactics did not work, and if the target ship was capable of outperforming their outboard motors, the chase ended there. But if they managed to pull even with their target, they tossed hooked rope ladders onto the decks and boarded the ship. Instances of the crew fighting back were rare, and rarely effective, and the whole process, from spotting to capturing, took at most thirty minutes. Boyah guessed that only 20 per cent to 30 per cent of attempted hijackings met with success, for which he blamed speedy prey, technical problems, and foreign naval or domestic intervention. The captured ship was then steered to a friendly port – in Boyah's case, Eyl – where guards and interpreters were brought from the shore to look after the hostages during the ransom negotiation. Once the ransom was secured – often routed through banks in London and Dubai and parachuted like a special-delivery care package directly onto the deck of the ship – it was split amongst all the concerned parties. Half the money went to the attackers, the men who actually captured the ship. A third went to the operation’s investors: those who fronted the money for the ships, fuel, tracking equipment, and weapons. The remaining sixth went to everyone else: the guards ferried from shore to watch over the hostage crew, the suppliers of food and water, the translators (occasionally high school students on their summer break), and even the poor and disabled in the local community, who received some as charity. Such largesse, Boyah told me, had made his merry band into Robin Hood figures amongst the residents of Eyl.

He stopped, puffing slightly. He studied the shop window for a few seconds, as if he was thinking. Then he faced me. ‘You’re right. Okay? You’re right.’ I stared at him. ‘The Shamrock and Clover. It’s a horrible place. And I know I’ve not been the greatest to work for. But all I can tell you is that, for every miserable directive I give you, my nuts are being squeezed ten times harder by Head Office. My wife hates me because I’m never home. The suppliers hate me because I have to cut their margins every single week because of pressure from shareholders. My regional manager says I’m underperforming on units shifted and if I don’t pull it out of the bag I’m going to get sent to the North Wales Passenger Ferry branch. At which point my wife will actually leave me. And I won’t blame her. ‘I hate managing people. I have the social skills of a lamppost, which is why I can’t hang on to anyone. Vera only stays because she has the skin of a rhino and I suspect she’s secretly after my job. So there – I’m sorry. I’d actually quite like to give you your job back because, whatever I said earlier, you were pretty good. Customers liked you.

This book is the distillation of nearly forty years of a scientist spending time in stores studying shoppers, with the last decade increasingly spent on understanding the relationship of those shoppers to the store and its management, on the one hand, and to the products and their brand suppliers on the other.

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The platform can also use the extensive tool kit of revenue management techniques to shape which suppliers each buyer sees, and how prominently. It’s not too cynical to expect that a platform might use this power to feature lesser-known suppliers over more famous ones, all else being equal.

Retail managers know that while their official vendors are large multinationals like Procter & Gamble and Hindustan Unilever Limited, what they are actually dealing with is someone like ‘Agarwal & Gupta Distributors’, the RS of the MNC. And so, while a good relationship with HUL can be developed by promoting their products, the truth is that a good relationship with the RS can be developed mainly by promoting his working capital availability. The RS is not merely a supplier of goods. He is a vital link in the whole retail chain and can be underestimated only at one’s peril. This is exactly what one large retail chain figured out early, and used to get the most amazing competitive advantage. Supermarket retail has a built-in advantage not available to traditional retailers. On the buying end, they buy bigger quantities and get a substantial period of time to make payment to the suppliers compared to smaller retailers, who sometimes have to pay cash on delivery. On the selling side, no customer gets credit at a supermarket. You scan, you bill, you pay and go — that’s the supermarket way. For the kirana, however, most regular customers expect a ‘khata’, a monthly account. Kirana customers buy through the month and pay only at the end. Supermarkets, by design, therefore, buy on liberal credit and sell on cash. Therefore, they are ‘cash surplus’ on a day-to-day basis. Their competitors, the kirana stores, are not. This particular retailer decided to make the payment terms more favourable to the supplier. So where the industry practice was eight days, this retailer reduced it to four days. In effect, the retailer halved the credit period, thus influencing the vendor’s working capital availability favourably. The vendor, in turn, now had a stake in the retailer’s growth and continued prosperity. The relationship soon turned into a win-win partnership. The vendor developed ingenious ways to enhance the retailer’s market share in various catchments.

We fundamentally changed the point of view of the business from customer-oriented to buyer-oriented. I put our buyers in charge of the company. From 1958 through 1976, we tried to carry what the customers asked for, given the limits of our small stores and other operational parameters. Each store manager had great latitude in what was carried and from what supplier it was ordered. There was very little central distribution except for Trader Joe’s labeled California wines or imports. Each store probably had access to ten thousand stock keeping units (SKUs), of which about three thousand were actually stocked in any given week. By the time I left in 1989, we were down to a band of 1,100 to 1,500 SKUs, all of which were delivered through a central distribution system. The managers no longer had any buying discretion and there were no “DSDs,” or direct store deliveries. And along the way not only did we drop a lot of products that our customers would have liked us to sell, even at not-outstanding prices, but we stopped cashing checks in excess of the amount of purchase, we stopped all full-case discounts, and we persistently shortened the hours. We violated every received-wisdom of retailing except one: we delivered great value, which is where most retailers fail.

We are promoting building a better business, increasing shareholder value, enhancing the business’s competitive position through securing a lower cost base, and ensuring we have a capable supplier portfolio. Further, through a skilled procurement team, we can strengthen the business through excellence in contract management discipline, supply chain assurance and align our supply base with the company’s strategic goals, be they technologically based or meet sustainability objectives. What’s not to get excited about that? The CEO’s door will always be open to hear these types of discussions.

That hunting by fire was still practiced by the natives on a large scale, and it had been his lot to stumble on six baby elephants, victims of a fire from which only fully grown animals had managed to escape thanks to their size and speed? That whole herds of elephants sometimes escaped from the blazing savanna with bums up to their bellies, and that they suffered for weeks? Many a night he had lain awake in the bush listening to their cries of agony. That the contraband traffic in ivory was still practiced on a large scale by Arab and Asiatic merchants, who drove the tribes to poaching? Thirty thousand elephants a year— was it possible to think for a moment of what that meant, without shame? Did she know that a man like Haas, who was the favorite supplier of the big zc^s, saw half the young elephants he captured die under his eyes? The natives, at least, had an excuse: they needed proteins. For them, elephants were only meat. To stop them, they only had to raise the standard of living in Africa: this was the first step in any serious campaign for the protection of nature. But the whites? The so-called “civilized” people? They had no excuse. They hunted for what they called “trophies,” for the excitement of it, for pleasure, in fact. The flame that attracted him so irresistibly burned him in the end. He was the first to recognize the enemy and to cry tally-ho, and he had gone on the attack with all the passion of a man who feels himself challenged by everything that makes too-noble demands upon human nature, as if humanity began somewhere around. thirty thousand feet above the surface of the earth, thirty thousand feet above Orsini. He was determined to defend his own height, his own scale, his own smallness. "Listen to me,” he said. "All right, you're a priest A missionary. As such, you've always had your nose right in it I mean, you have all the sores, all the ugliness before your eyes all day long. All right. All sorts of open wounds— naked human wretchedness. And then, when you’ve well and truly wiped the bottom of mankind, don’t you long to climb a hill and take a good look at something different, and big, and strong, and free?”“When I feel like taking a good look at something different and big and strong and free,” roared Father Fargue, giving the table a tremendous bang with his fist, “it isn't elephants I turn to, it's God I” The man smiled. He licked his cigarette and stuck it in his mouth. “Well, it isn't a pact with the Devil I'm asking you to sign. It's only a petition to stop people from killing elephants. Thirty thousand of them are killed each year. Thirty thousand, and that's a .small e.stimate. You can’t deny it . . . And remember—'* there was a spark of gaiety in his eyes— “and remember. Father, remember: they haven’t sinned.” He was stabbing me in the back, aiming straight at my faith. Original sin, and the whole thing— you know all that better than I do. You know me. I’m a man of action: give me a good case of galloping syphilis and I'm all right. But theory . . . this is between ourselves. Faith, God— I've got all that in my heart, in my guts, but not in my brain. I’m not one of the brainy ones. So I tried offering him a drink, but he refused.” The Jesuit’s face lit up for a moment, and its wrinkles seemed to disappear in the youthfulness of a smile. Fargue suddenly remembered that he was rather frowned upon in his Order; he had several times been forbidden to publish his scientific papers; it was even whispered that his stay in Africa was not entirely voluntary He had heard tell that Father Tassin, in his writings, represented salvation as a mere biological mutation, and humanity, in the form in which we still know it, as an archaic species doomed to join other vanished species in the obscurity of a prehistoric past. His face clouded over: that smacked of heresy.

Many public services were also outsourced. While PFI was largely about building and running infrastructure, outsourcing was mainly about handing services over to the private sector to manage, notably IT. HMRC (Her Majesty’s Revenue and Customs), DVLA (the Driver and Vehicle Licensing Agency), the NHS and local authorities awarded enormous IT contracts to external suppliers. Public services, including rubbish collection, school meals, building maintenance, prisons and even ambulance and probation services, were placed in the hands of private providers, often by local authorities: at its peak in 2012–13, the value of outsourcing contracts awarded by the latter reached £708 million.19 Since then, however, the value of local-government outsourced contracts has steadily fallen. The trend is similar for central-government IT outsourcing. Public organizations have increasingly found that outsourcing has not delivered the quality and reliability of services they had expected and has often not been good value for money either.

The 5C structure is generic—useful to product, marketing, and more—whereas the way we presented the sections in this chapter is very focused on product management. It’s good to know what the “C”s stand for because you’ll likely hear 5C mentioned. Plus if you need to do a situational analysis on your feet in a meeting or interview, it’s relatively easy to remember. Company: This refers to the company’s experience, technology, culture, goals, and more. It’s similar to the material we covered in the “Why Does the Company Exist?,” “How Do We Know If Our Product’s Good?,” and “What Else Has Been, Is Being, and Will Be Built?” sections. Customers: Who are the people buying this product? What are the market segments? How big are they? What are people’s goals with buying this product? How do they make buying decisions? Where do they buy this type or product? This is similar to what we covered in the “Customers and Personas” and “Use Cases” sections. Collaborators: Who are the external people who make the product possible, including distributors, suppliers, logistical operators, groundwork support personnel, and so on? Competitors: Who is competing for your customers’ money? This includes actual and potential competitors. You should look at how they position their product, the market size they address, their strengths and weaknesses, and more. Climate: These are the macro-environmental factors, like cultural, regulatory, or technological trends and innovations.

Now you have the demand for chemical manufacturing or mixing. How do you decide which company is the best choice? Improper selection may lead to long delivery time, poor quality or waste of time and money. If you choose well, you will be surprised to find how much value your partner has added to your production process. 5 criteria for selecting the best chemical manufacturer These are some of the qualities and items looking at your chemical manufacturer: 1. Function First, you must know whether the manufacturer can complete the work. Depending on your product development level, this may mean simple mixing or a full range of services from R & D to transportation. Assuming you need a turnkey solution, the following are your considerations: Research capability: if your formulation requires some work, the ability of your chemical manufacturer in the R & D, laboratory scale and expansion stages will be crucial. It should help you determine whether a new product can be safely and successfully mass produced through testing, pilot batch and other methods. Handling capacity: the company should be able to react and handle a wide range of different chemicals, including green products and harmful substances. More importantly, it should be able to combine these into any necessary combination to deliver a customized end product. Logistics capacity: packaging, repackaging, private labeling and printing, marketing support and transportation are all important considerations. A manufacturer that can easily deal with all these problems is an incredible value-added, especially in the transportation of chemicals, which often requires a lot of regulatory requirements. 2. Capacity Just as important as asking the manufacturer if it can produce your chemicals, can it produce your chemicals on the scale you want? Can it be completed in time before the deadline? This requires not only sufficient chemical mixing tanks, but also a series of special reaction, grinding, distillation and other equipment to deal with hazardous or flammable materials when necessary. This also means having enough storage capacity to store your products until you are ready to ship. In fact, if the manufacturer's capacity is much larger than what your project currently needs, you can expand at any time, if necessary. 3. Certification and registration Certification and registration can prove the quality management of chemical manufacturers, the ability and legal authority to deal with chemicals (especially hazardous substances), and their concern for the environment. Some of these qualities are just the added benefit of hiring the company, while others are the basic requirements you must meet before you delegate your business to them. Certification and registration are usually obtained through strict inspection by independent institutions or government departments. They must be updated regularly to remain valid, usually once a year or twice a year. 4. Quality assurance ISO 9001:2015 certification is a simple way to measure whether a manufacturer has a thorough quality management system, but if it fails to pass the certification, you need to ask what kind of system is in place. For example, keeping detailed batch production records can accurately identify at which stage of production a batch has a problem. 5. Company profile By analyzing these characteristics of the company, you can choose chemical manufacturers like other business partners.

A large part of people who manage to stay young, in spite of their chronological age, relates to synaptic plasticity - the ability of the brain to make and form new connections. As we've seen, plasticity is influenced by your genetic makeup, your lifetime of experiences, and the culture in which you live. It is also influenced by your daily routines, especially as you get older. Astrocytes, a type of brain cell, serve as suppliers of that energy. A mounting body of evidence shows that physical activity increases the effectiveness of astrocytes and thereby enhances synaptic plasticity, memory, and overall cognition.

An E. coli outbreak at Chipotle Mexican Grill outlets in October 2015 left fifty-five customers ill and shattered the restaurant chain’s reputation. Sales plummeted, and Chipotle’s share price dropped 42 percent to a three-year low, where it languished through the summer of 2017. At the heart of the Denver-based company’s crisis was the ever-present problem faced by companies that depend on multiple outside suppliers to deliver parts and ingredients: a lack of transparency and accountability across complex supply chains. Many Chipotle patrons probably assumed the outbreak stemmed from poor practices at one of the chain’s restaurants or facilities. But, as painful as that would be for the company’s reputation, the reality was actually worse: Chipotle had no way to pinpoint where the dangerous virus got into its food offerings; it only knew that it came from one of its many third-party beef suppliers. Five months later, the best management could come up with was that it “most likely” came from contaminated Australian beef. At the heart of the problem was the lack of visibility that Chipotle—like any food provider—has over the global supply chain of ingredients that flow into its operations. That lack of knowledge meant that Chipotle could neither prevent the contamination before it happened, nor contain it in a targeted way after it was discovered.

Dell Inc.’s low relative costs up through the early 2000s came from both sources. Vertically integrated rivals, such as Hewlett-Packard, designed and manufactured their own components, built computers to inventory, and then sold them through resellers. Dell sold direct, building computers to customer orders using outsourced components and a tightly managed supply chain. These competing approaches had very different cost and investment profiles. Dell’s model required little capital since the company did not design or make components, nor did it carry much inventory. In the late 1990s, Dell had a substantial advantage in days of inventory carried. Because component costs were then dropping so fast, buying components weeks later, as Dell effectively did, translated into lower relative costs per PC. And Dell’s customers actually paid for their PCs before Dell had to pay its suppliers.

Learning Plan Template Before Entry Find out whatever you can about the organization’s strategy, structure, performance, and people. Look for external assessments of the performance of the organization. You will learn how knowledgeable, fairly unbiased people view it. If you are a manager at a lower level, talk to people who deal with your new group as suppliers or customers. Find external observers who know the organization well, including former employees, recent retirees, and people who have transacted business with the organization. Ask these people open-ended questions about history, politics, and culture. Talk with your predecessor if possible. Talk to your new boss. As you begin to learn about the organization, write down your first impressions and eventually some hypotheses. Compile an initial set of questions to guide your structured inquiry after you arrive. Soon After Entry Review detailed operating plans, performance data, and personnel data. Meet one-on-one with your direct reports and ask them the questions you compiled. You will learn about convergent and divergent views and about your reports as people. Assess how things are going at key interfaces. You will hear how salespeople, purchasing agents, customer service representatives, and others perceive your organization’s dealings with external constituencies. You will also learn about problems they see that others do not. Test strategic alignment from the top down. Ask people at the top what the company’s vision and strategy are. Then see how far down into the organizational hierarchy those beliefs penetrate. You will learn how well the previous leader drove vision and strategy down through the organization. Test awareness of challenges and opportunities from the bottom up. Start by asking frontline people how they view the company’s challenges and opportunities. Then work your way up. You will learn how well the people at the top check the pulse of the organization. Update your questions and hypotheses. Meet with your boss to discuss your hypotheses and findings. By the End of the First Month Gather your team to feed back to them your preliminary findings. You will elicit confirmation and challenges of your assessments and will learn more about the group and its dynamics. Now analyze key interfaces from the outside in. You will learn how people on the outside (suppliers, customers, distributors, and others) perceive your organization and its strengths and weaknesses. Analyze a couple of key processes. Convene representatives of the responsible groups to map out and evaluate the processes you selected. You will learn about productivity, quality, and reliability. Meet with key integrators. You will learn how things work at interfaces among functional areas. What problems do they perceive that others do not? Seek out the natural historians. They can fill you in on the history, culture, and politics of the organization, and they are also potential allies and influencers. Update your questions and hypotheses. Meet with your boss again to discuss your observations.

My eyes widened at that offer. I’d missed riding since coming to the Academy and I hadn’t really thought I’d be able to get out again any time soon. But I wasn’t sure I wanted him to know quite how much this meant to me. Every other piece of information the Heirs had gotten on me up until now had been twisted against me in some way and I didn’t want them trying to take this from me too. “I’m not really dressed for it,” I said slowly though in all honesty I had no issue with tying my dress in a knot around my waist if that was what it took to get me out on the road. “I’m sure I could lend you my shirt if you want to take it off,” he replied. “That would require both of us taking off rather a lot of our clothes.” There was a dare hanging in the air between us and I was afraid that I wouldn’t be able to resist it much longer. I eyed the line up of bikes, my heart beating a little faster as I tried to decide which one I’d choose. In all honesty I was too drunk to ride, although the sandwich was mopping up some of the excess alcohol and I was feeling a little less dizzy... It still wouldn’t have been the best idea though. “Why do you have the same bikes that that they have in the mortal world?” I asked as I began to wander between the immaculate machines. Some of the badges were different, I read names like Yamaharpy, Sphinxzuki, Hondusa, Harley Dragonson and I couldn’t keep the smirk from my lips but the actual bikes were definitely mortal models. “There are several permanent rifts between our world and the mortal world where we import all sorts of goods like these. The importers like to change the names as a kind of in-joke but a hell of a lot of our products come straight out of Taiwan or China, direct to Solaria,” Darius explained. “Why?” I asked. “Can’t Fae invent their own bikes and cars?” “I guess we could... but why bother? We’ve got better things to do with our time and it makes sense to use the mortals like our own personal goods suppliers. The Fae they deal with even manage to Coerce the best prices for everything we import. No Fae vendor would create any of the things we desire so cheaply.” Darius folded his arms and leaned back to perch on the saddle of a stunning green bike as he watched my exploration. “So you basically abuse the mortals with your power?” I asked. “We use our power to take what we want from them,” he agreed. “Just the same as we do with other Fae.” He had a point there; Fae were equally asshole-like to their own kind. (Tory)

Managers often mistakenly assume that a high-growth industry will be an attractive one. But growth is no guarantee that the industry will be profitable. For example, growth might put suppliers in the driver’s seat, or, combined with low entry barriers, growth might attract new rivals. Growth alone says nothing about the power of customers or the availability of substitutes. The untested assumption that a fast-growing industry is a “good” industry, Porter warns, often leads to bad strategy decisions.

Credit extension, invoicing policy, payable policy, dealing with customers, and negotiating with suppliers, banks, and internal staff are all management disciplines that have a direct impact on the cash cycle.

Some Pakistan first B2B platforms include a search engine that can automatically match you with suppliers based on your profile and preferences. Another useful feature is a contract management system that allows you to create, review, and sign contracts in one place. It can even generate standard contracts based on the specific requirements of your business. This can significantly cut your overhead costs. Moreover, it can also save you time and energy, as it can make your transactions more efficient and convenient. Besides, it can also reduce the number of intermediaries in your supply chain OLXextremewholesalers.

When firms hit choppy waters, or come under pressure to boost their performance, the knee-jerk response is often to downsize. But shedding staff in a hurry seldom pays off. It can hollow out a company, demoralize the remaining workforce, and spook customers and suppliers. Often it leaves deeper problems untouched. After sifting through thirty years’ worth of longitudinal and cross-sectional studies, Franco Gandolfi, a professor of management, came to a stark conclusion: “The overall picture of the financial effects of downsizing is negative.

In recent years, Continuous Glucose Monitoring (CGM) devices have emerged as a game-changer in diabetes management, offering patients a real-time view of their glucose levels and revolutionizing the way they monitor their condition. Among the pioneers in providing these life-changing devices, Med Supply US stands out as a reliable source, offering CGMs from various renowned brands like Abbott, Dexcom, and more. This article explores the significance of CGM devices and highlights the contribution of Med Supply US in making them accessible to those in need. Understanding CGM Devices: For individuals living with diabetes, maintaining optimal blood glucose levels is crucial to prevent serious health complications. Traditionally, this involved frequent finger-prick tests, which could be inconvenient and sometimes inaccurate. CGM devices, however, have transformed this process by providing continuous and real-time glucose level readings. These devices consist of a small sensor inserted under the skin that measures glucose levels in the interstitial fluid. The data collected is then transmitted to a receiver or a smartphone app, allowing users to track their glucose levels throughout the day and night. Benefits of CGM Devices: The introduction of CGM devices has brought about a paradigm shift in diabetes management due to their numerous benefits: Real-time Monitoring: CGM devices offer a real-time insight into glucose trends, enabling users to make informed decisions about their diet, exercise, and insulin dosages. This real-time feedback empowers individuals to take timely action to maintain their glucose levels within a healthy range. Reduced Hypoglycemia and Hyperglycemia: By providing alerts for both low and high glucose levels, CGMs help users avoid dangerous hypoglycemic episodes and hyperglycemic spikes. This is particularly beneficial during sleep when such episodes might otherwise go unnoticed. Data-Driven Insights: CGM devices generate a wealth of data, including glucose trends, patterns, and even predictive alerts for potential issues. This information can be shared with healthcare providers to tailor treatment plans for optimal diabetes management. Enhanced Quality of Life: The convenience of CGM devices reduces the need for frequent finger pricks, leading to an improved quality of life for individuals managing diabetes. The constant insights also alleviate anxiety related to unpredictable glucose fluctuations. Med Supply US: Bringing Hope to Diabetes Management: Med Supply US has emerged as a prominent supplier of CGM devices, offering a range of options from reputable brands such as Abbott and Dexcom. The availability of CGMs through Med Supply US has made these cutting-edge devices accessible to a wider demographic, bridging the gap between technology and healthcare. Med Supply US not only provides access to CGM devices but also plays a crucial role in educating individuals about their benefits. Through informative resources, they empower users to make informed choices based on their specific needs and preferences. Furthermore, their commitment to customer support ensures that users can seamlessly integrate CGM devices into their daily routines.

We want our businesses to mimic the robustness of the living world: to survive and prosper in a dynamic external environment, withstand internal strategic and organizational upheavals, and evolve by taking calculated risks. 5. Hence, we choose to invest only in businesses that are robust at multiple levels. A robust business has high ROCE, minimal or zero debt, a strong competitive advantage, fragmented customer and supplier bases, a stable management team, and is in a slow-changing industry. 6. Just because a business is robust today does not mean it will continue to be so. Our only protection against the loss of robustness of a business is to be price sensitive. We do not invest unless the market offers us an attractive valuation, which happens rarely.

What will happen to the thousands of my workers, suppliers and customers when I go bankrupt?” “You, Mr. Rearden?” said Holloway incredulously. “But you’re the richest, safest and strongest industrialist in the country at this moment!” “What about the moment after next?” “Uh?” “How long do you expect me to be able to produce at a loss?” “Oh, Mr. Rearden, I have complete faith in you!” “To hell with your faith! How do you expect me to do it?” “You’ll manage!” “How?” There was no answer. “We can’t theorize about the future,” cried Wesley Mouch, “when there’s an immediate national collapse to avoid! We’ve got to save the country’s economy! We’ve got to do something!” Rearden’s imperturbable glance of curiosity drove him to heedlessness. “If you don’t like it, do you have a better solution to offer?

Which company is best for using construction Project work? The Shree Siva Balaaji Steels project is a significant endeavor that encompasses the establishment and operation of a modern and advanced steel manufacturing facility. This project represents a fusion of innovation, cutting-edge technology, and industrial expertise, aimed at delivering high-quality steel products to meet the growing demands of various sectors. Key Features: State-of-the-Art Manufacturing Plant: The project involves the construction and operation of a state-of-the-art manufacturing plant equipped with the latest machinery, automation systems, and environmentally friendly processes. This allows for efficient production and reduced environmental impact. Diverse Product Range: Shree Siva Balaaji Steels aims to offer a diverse range of steel products to cater to different industries such as construction, automotive, infrastructure, and manufacturing. This versatility enables the company to meet the varying needs of clients and partners. Quality Assurance: A cornerstone of the project is its commitment to delivering high-quality steel products. The facility adheres to strict quality control measures and follows international standards to ensure that the end products are durable, reliable, and meet or exceed industry specifications. Sustainability Focus: The project places a strong emphasis on sustainability and environmentally conscious practices. Energy-efficient processes, recycling initiatives, and waste reduction strategies are integrated into the manufacturing process to minimize the ecological footprint. Employment Opportunities: Shree Siva Balaaji Steels contributes to local economies by creating employment opportunities across various skill levels, from skilled labor to technical experts. This helps stimulate economic growth in the region surrounding the manufacturing facility. Collaboration and Partnerships: The project fosters collaborations with suppliers, distributors, and clients, establishing strong relationships within the steel industry. This network facilitates efficient supply chain management and enables the company to provide tailored solutions to its customers. Innovation and Research: The project invests in research and development to constantly improve manufacturing processes, product quality, and the development of new steel products. This dedication to innovation positions the company at the forefront of the steel industry. Community Engagement: Shree Siva Balaaji Steels is committed to engaging with local communities and implementing corporate social responsibility initiatives. These efforts include supporting education, healthcare, and other community-centric projects, fostering goodwill and positive impact. Vision: The Shree Siva Balaaji Steels project envisions becoming a leading name in the steel manufacturing sector, renowned for its exceptional quality, technological innovation, and sustainability practices. By adhering to its core values of integrity, excellence, and environmental responsibility, the project strives to contribute positively to the industry and the communities it operates within.

This happened to me!” Bethari Syamsudin, an Indonesian manager working for the multinational automotive supplier Valeo, told me. “My boss is German, but my team is all Indonesian. In my culture, if we have a strong relationship and come to a spoken agreement, that is enough for me. So if you get off the phone and send me an e-mail recapping in writing everything we have just decided, that would be a clear sign to me that you don’t trust me.

Process Description Plan You need to estimate how many hamburgers you are going to make, decide where you are going to make them, and determine what your supply chain priorities are. You may need to choose whether to focus on quality and freshness, customer service and convenience, or low cost. These choices will influence the other decisions and trade-offs that you make throughout the supply chain. Source You need to decide where you will buy your ingredients and supplies. You need to negotiate with your suppliers to get the best prices, along with the best quality and service. It might be better to have suppliers that are close by, so that transporting products is fast and cheap. Or it might make sense to choose suppliers that are farther away but can provide the products at a lower cost or in larger quantities. Make You need to manage the process of making your hamburgers. It will help if you can define the stages of your manufacturing process and how long each stage will take. You may also need to decide whether you should make the hamburgers by hand or buy a machine that can make them better, faster, and cheaper than a person can. Deliver You need to manage the logistics of getting your hamburgers into your customers’ hands. That means you’ll need to decide whether you want customers to pick up their hamburgers at a counter or employ a server to carry the hamburgers to the table. Or perhaps you need to have a drive-through window, or deliver your hamburgers to your customers’ homes or offices. Return For many products, it’s important to think about what will happen to them after your customer is finished using them. In the case of hamburgers, you may need to think about washing the plates and recycling napkins. Enable Last but not least, you need to decide what else you need to make the supply chain work. You may need to hire people with specific skills, which means you need to think about how you will find them and how you will measure their performance. And there may be other processes that you need to have in place for your supply chain to achieve its goals, such as marketing programs or accounting policies.

H2go Corp is a customer-centric company keeping its satisfaction as the top priority. After noticing the flaws of traditional delivery, we have empowered our customers with control by making bottled water delivery on-demand. We have managed to perform a 99% success rate on all our deliveries. Our goal is to ensure our customers are hydrated without delay. For the safety of our customers and drivers, H2Go corp adopted no-contact delivery. For any special requests, please add special instruction, and our drivers will be happy to help. H2go offers bottled water delivery for both commercial/office and residential customers.

The more ambitious the OKR, the greater the risk of overlooking a vital criterion. To safeguard quality while pushing for quantitative deliverables, one solution is to pair key results, to measure both effect and counter effect, as Grove wrote in High Output Management. When key results focus on output, Grove noted, 'the paired counterparts should stress the quality of work, thus in Accounts Payable, the number of vouchers processed should be paired with the number of errors found either by auditing or by our suppliers. For another example, the number of square feet cleaned by a custodial group should be paired with by rating of the quality of work as assessed by a senior manager with an office in that building.' -- Let the quantity goal be three new features, the paired quality goal will be fewer than 5 bugs per feature in quality assurance testing. The result - developers will write cleaner code. If the quantity goal is 50 million dollars in Q1 sales, the quality goal can be 10 million dollars in maintenance contracts, because sustained retention by sales professionals will increase customer success and satisfaction.

or when letters to Jewish suppliers in Germany came back marked “Address Unknown,” we still managed to believe that it was primarily a German problem. “How long are they going to stand for it?” we said. “They won’t put up with that man for long.

Test the market with samples first, if you can, to know what is really going to sell. • If possible, don’t build inventory in large quantities and eat up cash unless the business has the orders in its hands. • Try to find strategic partners that have quick turnarounds for building inventory. • Unless you have real-time data on customer demand and have an extremely tight connection to your suppliers, you’ll never get inventory forecasting exactly right. • Err on the side of less rather than more inventory as a rule of thumb. • If you have to make a trade-off between paying more per unit in COGS to reduce the cycle time to build inventory, choose the higher COGS and reduced production time. You’ll be placing smaller orders with greater frequency, turning inventory faster and cash faster. Read this point again—it’s not very complicated (place smaller orders, more frequently), but it’s really, really important for managing your inventory.

Perhaps the most common device for giving people focus and direction is goal setting, but goals, as often as they are used, have their pros and cons. Sure, if you can convince everybody that profits must increase 20% next quarter or we’re going out of business, people will hurry around looking for ways to hype profits by 20%. When discussing “mission” I assigned Susan a goal of 25% improvement in sales, based on what I calculated was needed to avoid closing the factory and on what I felt her district could reasonably provide. It was not a number pulled from the ether, and I went to some length to explain this to her. Short of any such basis in reality, people will often do the easiest things, such as firing 20% of the workforce, canceling vital R&D programs, or simply not making any payments to suppliers. In other words, they will take achieving the goal as seriously as they feel you were in setting it; they will sense whether you have positioned yourself at the Schwerpunkt. Goals, as we all know, can be motivators. Cypress Semiconductor, a communications-oriented company founded in 1982, used to have a computer that tracked the thousands of self-imposed goals that its people fed into the system. Cypress founder T. J. Rodgers identified this automated goal tending system as the heart of his management style and a big factor in the company’s early success.136 Frankly, I find this philosophy depressing, not to mention a temptation to focus inward: If the boss places great importance on entering and tracking goals, as he obviously does, then that is what the other employees are going to consider important.137 In any case, what’s the big deal about meeting or missing a goal? A goal is an intention at a point in time. It is, to a large extent, an arbitrary target, whether you set it or someone above you assigns it. And we all know that numerical goals can be gamed, like banking (delaying) sales that we could have made this quarter to help us make quota next quarter. Unlike a Schwerpunkt, which gives focus and direction for chaotic and uncertain situations, what does a goal tell you? Just keep your head down and continue plugging away?

Initially working out of our home in Northern California, with a garage-based lab, I wrote a one page letter introducing myself and what we had and posted it to the CEOs of twenty-two Fortune 500 companies. Within a couple of weeks, we had received seventeen responses, with invitations to meetings and referrals to heads of engineering departments. I met with those CEOs or their deputies and received an enthusiastic response from almost every individual. There was also strong interest from engineers given the task of interfacing with us. However, support from their senior engineering and product development managers was less forthcoming. We learned that many of the big companies we had approached were no longer manufacturers themselves but assemblers of components or were value-added reseller companies, who put their famous names on systems that other original equipment manufacturers (OEMs) had built. That didn't daunt us, though when helpful VPs of engineering at top-of-the-food-chain companies referred us to their suppliers, we found that many had little or no R & D capacity, were unwilling to take a risk on outside ideas, or had no room in their already stripped-down budgets for innovation. Our designs found nowhere to land. It became clear that we needed to build actual products and create an apples-to-apples comparison before we could interest potential manufacturing customers. Where to start? We created a matrix of the product areas that we believed PAX could impact and identified more than five hundred distinct market sectors-with potentially hundreds of thousands of products that we could improve. We had to focus. After analysis that included the size of the addressable market, ease of access, the cost and time it would take to develop working prototypes, the certifications and metrics of the various industries, the need for energy efficiency in the sector, and so on, we prioritized the list to fans, mixers, pumps, and propellers. We began hand-making prototypes as comparisons to existing, leading products. By this time, we were raising working capital from angel investors. It's important to note that this was during the first half of the last decade. The tragedy of September 11, 2001, and ensuing military actions had the world's attention. Clean tech and green tech were just emerging as terms, and energy efficiency was still more of a slogan than a driver for industry. The dot-com boom had busted. We'd researched venture capital firms in the late 1990s and found only seven in the United States investing in mechanical engineering inventions. These tended to be expansion-stage investors that didn't match our phase of development. Still, we were close to the famous Silicon Valley and had a few comical conversations with venture capitalists who said they'd be interested in investing-if we could turn our technology into a website. Instead, every six months or so, we drew up a budget for the following six months. Via a growing network of forward-thinking private investors who could see the looming need for dramatic changes in energy efficiency and the performance results of our prototypes compared to currently marketed products, we funded the next phase of research and business development.

If you pay your people well, you have to charge a healthy amount for the product,” says Matt Nemer, managing director of equity research at Wells Fargo Securities. “It’s Walmart in reverse.” That’s one reason the Container Store works so closely with its suppliers and

Businesses have a responsibility not only to investors, but also to management, employees, customers, suppliers, local communities, society at large, and the environment.

Times of rapid change and increasing complexity require a shift from optimization towards innovation. Forcing workers to blindly execute the upfront plans and sequential processes of the “waterfall model” turns out not to be the one best way. But we do it anyway. Taylor’s obsession with time, order, and efficiency has been absorbed into the fabric of our culture. We share his faith in reductionism. We divide projects into phases into tasks. We separate people into teams into roles. We split work into steps and silos. Then things fall through the cracks. Figure 1-6. The Waterfall Model. It’s not that waterfall is wrong. In many contexts, it’s a useful model. The problem is that, all too often, we apply it without realizing it’s not the only way. Again, it helps to know history. In the 1950s, Toyota figured out how to avoid the pitfalls of Taylorism by embracing what’s now called Lean. In design, all relevant specialists were involved at the outset, so conflicts about resources and priorities were resolved early on. And in production, managers learned that by making small batches and giving every worker the ability to stop the line, they could identify, fix, and prevent errors more quickly and effectively. [40] Rather than serving as cogs in the machine, workers were expected to solve problems by using “the five why’s” to systematically trace every error to its root cause. Similarly, suppliers were expected to coordinate the flow of parts and information within the just-in-time supply system of kanban.

5.5 Specific Signs You Should Avoid A Van Rental Supplier! Here are 5.5 specific sign that you should avoid a van rental supplier: 1. Automated answering services: If you cannot get access to a human on the phone when you call to make a van reservation, where are they going to be when you have a mechanical breakdown? If the company cannot afford to provide a live person to receive your call, how will they afford to take care of your group when you have broken down on the side of the road or have been in an accident! 2. Rude or incompetent rental agents: If the rental company’s agents do not answer the phone cheerfully and sound like they are less than ecstatic to hear from you, they have set a negative tone for the entire van rental experience. If they place you on hold until you grow old, or refuse to acknowledge you immediately when you walk through the door of their office, get out of there! 3. Charging for mileage: Any van rental firm worth doing business with will offer you unlimited miles going anywhere in the USA. Anything else does not allow you the peace of mind needed when you are required to maximize your budget and do not need any unaccounted variables. 4. Encouraging drop-offs after business hours: This practice gives the rental company an unwritten power of attorney to charge you for any damages they find until the next business day! This leaves you or your organization wide open to paying for damages you did not cause or create! 5. Yield management systems: When a van rental firm employs this system, it skyrockets the van rental rates through the roof as demand gets tight and supply gets low. This system has been designed to squeeze every last dollar out of the client’s pocket and takes serious advantage of those groups that are forced to reserve later due to budget constraints or lack of commitments! 5.5 Accidents handled by a third party vendor: If you have an accident in a van, and the rental firm outsources this function to an outside agency, you will lose all power of negotiation and pay much more on the damage claim because the rental firm has to give that agency a substantial percentage. In addition, the agency employees have nothing to lose by treating you horribly.

Questions to ask when analyzing a business Business - How does the company make money? - Does it seem like it should be a good business? Is it competitive? Do suppliers have too much power? Do customers value the product? Are there substitutes? - Without looking at financials, how does the company seem like it has done against competitors in its industry in terms of executing on its vision? - What reputation does the management team have? Do they seem honest? Straightforward? Valuation - What is the company's P/E multiple? Is it high or low for its industry? For the overall market right now? Why might the stock be trading at this valuation? - What is the company's free-cash flow yield? Is this a relevant metric given the stage the company is in? How does it compare to similar companies? - Is the company growing faster or more slowly than other companies with similar multiples? - Based on the number alone, does the company seem to have a rich valuation or a cheap valuation? Why might this be the case? Financials - What has been the trajectory of revenue growth over the past ten years? Why? What is it expected to do in the future? - How has the company's industry been growing? Is the company gaining or losing share in its industry? - What is the company’s level of profit margins? How does it compare to other companies in its industry? - How have margins varied over the past ten years? Why? - What percentage  of the company's costs are fixed costs versus variable costs? - What is the company's historical return on capital? Why is it high/low? What does this say about the quality of the business? - What is the trend in returns on capital? Why? What does this say about the returns the company will have to make on its future investments? - What is the company's dividend policy? Why? If they are paying no dividend or a small dividend, is there a danger that the company's management will waste shareholder's money? Technical - How have the company's shares performed against the overall market and its industry over the past twelve months? - What seems to be driving this under/over performance? - What key news events are likely to impact the stock in the future? - Do mutual funds and other large institutional investors seem to be buying or selling the shares? Sentiment and Expectations - What are the consensus earnings estimates for the next quarter and year? Do they seem aggressive or conservative? - Does consensus opinion seem overly bullish or bearish about the company's future prospects? - What insight do you have that the market might be missing that will cause the shares to appreciate?

Myth #3: Kaizen Is Slow; Innovation Is Quicker Perhaps the most dramatic example of what can happen when innovation is used and abused is Toyota, a company that calls kaizen its soul. For most of its history after World War II, Toyota exemplified quality automobile manufacturing. Consumers bought Toyotas not for the styling or prestige but for their unparalleled reliability. But by 2002, Toyota management decided it was not enough to build the highest-quality and most-profitable cars—it wanted to be the biggest car company in the world. And the company succeeded. It built factories rapidly and added enough capacity to produce three million additional automobiles in just six years. But productivity came at a high price: Suppliers could not sustain the quality for which Toyota was known, and the new factories did not have the time to build a kaizen culture. The result was over nine million recalls and some well-deserved bad publicity. Here is an internal memo written before the crisis became public: “We make so many cars in so many different places with so many people. Our greatest fear is that as we keep growing, our ability to maintain the discipline of kaizen will be lost.” —Teruo Suzuki General Manager, Human Resources In time, Toyota recognized that abandoning kaizen drove the company away from a commitment to its core principles. Since the crisis, Toyota has slowed down production, given local managers in the U.S. more responsibility for quality control, and trained new workers in the kaizen culture. Toyota has returned to focusing on quality, not quantity, as its mission, with an emphasis on correcting defects in production while they are small and easily fixed. And Toyota’s reputation for quality has been restored. The company’s story is an excellent illustration of the ways in which kaizen builds habits that can last a lifetime and helps avoid the painful consequences of steps that may, in retrospect, have been too big for the individual or the work group to swallow.

Investors, labor, management, suppliers—they all need to cooperate to create value for customers. If they do, the joint value created is divided fairly among the creators of the value through competitive market processes based approximately on the overall contribution each stakeholder makes.

One could often learn a lot about the balance of political forces in a given time and place by what sorts of things were acceptable as currency. For instance: in much the same way that colonial Virginia planters managed to pass a law obliging shopkeepers to accept their tobacco as currency, medieval Pomeranian peasants appear to have at certain points convinced their rulers to make taxes, fees, and customs duties, which were registered in Roman currency, payable in wine, cheese, peppers, chickens, eggs, and even herring—much to the annoyance of traveling merchants, who therefore had to either carry such things around in order to pay the tolls or buy them locally at prices that would have been more advantageous to their suppliers for that very reason.6 This was in an area with a free peasantry, rather than serfs. They were in a relatively strong political position.