Question: Can you please assist with the below based on Target Corporation (Target Stores) Materials requirements: Explain the importance of having a robust standard material requirement
Can you please assist with the below based on Target Corporation (Target Stores)
- Materials requirements:
- Explain the importance of having a robust standard material requirement planning program.:
- Provide examples that support the following elements: (1) forecasts of demand, (2) firm orders, (3) engineering design changes, and (4) inventory transactions.
- Location, Logistics and Distribution
- Detail out a location, logistics, and distribution plan with areas of identified risk.
- Provide mitigation associations with each identified risk.
- Quality Management and Six Sigma
- Provide examples of each dimension of quality.
- Describe how the concepts of Six Sigma could be applied.
- Explain how the analytical tools for Six Sigma and continuous improvement (DMAIC) could be applied to optimize the supply chain.
- Lean Supply Chains
- Explain how a value stream map would be useful.
- Provide an example of a value stream map.
- Link the value stream map to an effective logistics and distribution process for the supply chain.
- Inventory Management
- Explain how the concepts of inventory costs apply and how these costs can be minimized.
- Explain how the forecasting model you selected earlier will help improve inventory management and cost management.
- Global Sourcing and Procurement
- How might a bullwhip effect occur, and what steps would you take to mitigate any bullwhip effect?
- Are there any opportunities for green sourcing? Identify those opportunities and link this to overall cost
- Conclusion
- What value did walking through the supply chain process for your selected product or service provide you?
- How will you apply the concepts you wrote about in your professional or personal life?
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