(Solution) CIPS APGCE Costs and Financial Implications on Supply Chains
For this assignment, a business report evaluating global commercial strategy has been developed. As part of this evaluation focuses on Hertfordshire and West Essex (H&WE) NHS organisation.
Importantly, the rationale of this evaluation is informed by the fact that an organisation strategy guides an organisation success in achieving a competitive advantage and dominating their market of operations.
Focus areas in this report include relationship of strategy and corporate, business and functional structures, methods used to analyse supply chain, managing resources for supporting development and implementation of strategy and how costs and finance could impact on supply chain.
Through the application of different CIPS Models and techniques (Mendelow Matrix, PESTLE Generic Analysis tool, and risks register), various findings were obtained. The findings support existence of a direct correlation of strategy, corporate, functional structures and business practice.
In analysis of supply chain, predictive and descriptive approaches which are quantitative and qualitative identified as relevant for the evaluation. Also, by ensuring all relevant stakeholders are engaged in the process, successful costs management and supply chain analysis identified.
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Description
Solution
5.0 Costs and Financial Implications on Supply Chains
As explained in the introduction, HWE financial goal is attaining 60% improvement in procurement processes for NHS and leverage from 70% increased profitability and leverage on competitive advantage. This is possible through supply chain management for HWE prioritising on costs reduction, performance improved and clients satisfied through an improved raw materials sourcing. In line with CIPS (2023), PS&M play a critical role to monitor and influence costs management in organisation and supply chain network.
Hence, for costs planning by HWE and different supply teams, figure below is applicable;
Figure 1:Costs Management by PS&M Summary
Source: CIPS Module Notes
With HWE engaged in sourcing healthcare services with fluctuating demands and supply levels, variable costing is relevant for use. This is guided by view that these aspects impact on stakeholders inclusion in sourcing services. The findings evidence HWE lacking ability of predicting and satisfying end-user clients demands by involving suppliers. The process influence how the organisation can adopt gain sharing and open-book approach. The importance of this is that PS&M professionals have interests and appreciate level of relations and interface. In variable pricing strategy, competition and adversarial form of relations would be initiated hence increased collaborative relations in overall supply chain.
Additionally, for HWE, operating in international business environment, volatility and foreign exchanges significantly influence the process. A summary is as shown in the following;
Figure 2:Volatility factors in market levels
Source: CIPS Module Notes
Today, HWE implement distinct contracts evaluation to understand and facilitate currency risks. Further, with economic challenges evident, scenario planning to identify currency volatility is essential. Besides, there lacks development in graphs of flexibility and agility in supply chains. This ought to be harnessed in risks management and appreciating currency fluctuation impacting supply chain network. These are classified to internal and external risks….
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