Project 1 - Sourcing & Procurement - STUDENT Preamble to the Capstone Projects: This is the first of four assignments that together involve students in the creation of a comprehensive and realistic supply chain for the product, imported from their designated country into the Canadian market. student team will consider themselves as managers of a Canadian company importing a product that they in turn sell to customers/consumers in the Canadian wholesale/retail channel associated with that produ Acting as a retail management team, students will therefore be responsible for the business decisions invo in developing and maintaining an effective and efficient supply chain to meet their customer's requiremer which includes having the required quantity and quality of product on the shelves or available in their stor for timely sale to consumers. NOTE: The head office and distribution warehouse shall be within the Province of Ontario. The importing entity will act as a wholesaler or distributor within the supply chain either to retai or as a supplier to their own retail outlets. For this project, they will not sell on the internet. The student management team must consider the annual volume indicated in the "Capstone Import Regis as the optimal order quantity for a year based upon the retailer's experience of their consumer's buying behavior. It will be a management decision as to whether this volume be sourced, procured and imported one time or in several shipments over the course of a year. It should be noted that by the end of year 1, a stated annual volume must be imported. The supply chain 'decision making process' is presumed to commence in September 2020. Shipments of product are to start no later than January 2, 2021 and be completed by December 15, 2021. The management team should draw on the knowledge and skills that they learned and practiced in all of previous Supply Chain Management courses. Students are therefore responsible for reviewing the previot studied course work, text books, and material as required to address all the Capstone assignment specifications. Sourcing & Procurement - Project 1 Specifications: To create and execute an effective and efficient supply chain, the management team is required to undert the following tasks in a detailed report: 1. State the company's mission statement, define its customers, its target market and the market segme into which the company intends to sell the product in Canada. (5 mark- 2. Define the product that company management is responsible for importing into Canada. Provide, a bri explanation of its features and characteristics along with any aspects that differentiate the product fro that of your competitors. Explain the company's competitive advantage by purchasing this item. (10 marl- 3. Next, identify, clarify and explain your customer's specific needs and wants. The management team should draw upon their knowledge of marketing to consider the relationship between the company's efforts to satisfy customer's requirements via the features, benefits, and characteristics of the product 15. mark