Answer to Question #202985 in Management for Sibusiso Dlamini

Question

(B) After determining the development process of the new product, you have decided to engage with the key stakeholders of your company to evaluate the category strategy objective of the new product. Therefore, you are expected to practically detail how the following category strategic objectives will be employed by your organisation (20 marks):

·        Technology/new-product development objective (5 marks)

·        Supply base reduction objective (5 marks)

·        Supply assurance objective (5 marks)

·        Quality objective (5 marks)

Answer 1

The stakeholders in an organization should employ technology during the development process of a new product. Rudimentary technology study, exploration to demonstrate viability, technology demonstration and development, system or sub-system development, system testing, launching, and operations are all stages in the development of technology.

The process of lowering the number of active providers in the supply base is known as supply base reduction (SBR). The goal is to concentrate the company's spending with fewer suppliers and get more value out of those partnerships. Many businesses have thousands of suppliers, and their spending with the bulk of them will be little. The focus of SBR may begin with low-value and low-risk suppliers, and may include the utilization of preferred supplier relationships, distributors, or supplier tiering.

To achieve supply assurance the purchasing department must ensure that activities aimed at improving operational needs by ensure internal customers. To support the flow quality and services required by internal customers, the purchaser must ensure he acquires products and services at the right price and source by considering the customer's specification to achieve quality and on time delivery.

Quality objectives are quantifiable goals that are aligned with the quality policy and aimed at improving customer satisfaction. These goals are set when you plan your QMS and then revised as appropriate during management reviews. Goals to improve on time delivery, faults, or scrap are just a few examples.