INSTRUCTIONS - No mark shall be given to the listing. - Marks shall be earned for practical illustration of points/ideas. It means you are expected to provide a practical demonstration of how your company will implement the supplier development steps. - You are expected to come up with your company that must not be an existing one - No mark shall be granted for copying ideas/points from external sources without adequate substantiation (plagiarism). - Compliance with the VUT's assignment formatting is requested. - Group composition: Minimum of 3 and maximum of 5 The concept of supplier development is regarded as an important enabler of organisations' supply chain efficiency. This view is based on the strategic role it plays in optimising the value chain of organisations. As part of your firm's commitment to optimise its overall performance, you have embarked on a developmental process in which you want to equip your supplier base with the necessary skills and expertise to better cater for new market opportunities. Given the highlighted rationale, demonstrate how your company will carry out the following supplier development steps to optimise your pool of potential and current suppliers: - Identify critical commodities for development (20 marks) - Identify critical suppliers for development (20 marks) - Form a cross-functional development team (20 marks) - Meet with the supplier's top management team (10 marks) - Define key metrics and cost-sharing mechanisms (10 marks) - Reach agreement on the key project and joint resource requirements (10 marks) - Monitor the status of the project and modify strategies as appropriate (10 marks)