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SOURCING PLAN 2

Phoenix Fine Electronics Sourcing Plan

Patrick Carrasquillo

University of Phoenix

CMGT/583

Bruce Voris

7/11/2022

Phoenix Fine Electronics Sourcing Plan

Within the next five years, Phoenix Fine Electronics (PFE) plans to expand into three additional adjacent states. That population of more than 100,00 is what the corporation is using to decide how many stores it should open. The corporation wants a marketing firm to conduct a study of each town that fits the population criterion in order to choose the best cities for new stores to open. The CEO, on the other hand, is concerned about the company's ability to make fast and accurate business decisions based on data from various departments and customers. In order for a firm to succeed, it must deliver exceptional customer service and value to its customers.

A strategic sourcing plan will be necessary for Phoenix Fine Electronics (PFE) in order to stay focused on its long-term goals. PFE must establish a strategic sourcing team through the implementation of an enterprise resource planning process that includes people with a diverse range of expertise. The team will be composed of members from the sales and marketing, finance, research and development, and supply chain would all be part of such a massive team. This is an effort to unite the firm and get everyone thinking strategically. PFE should examine their project and generate prediction for planning IT logistics. PFE needs to establish a long-term strategy that entails data management and analysis, as well as the ability to look at data and concentrate on the right categories, all while forming strategic partnerships with suppliers. PFE's strategy must be based on a variety of factors, such as a look at costs and prices. Along with ensuring that their suppliers are in place, they need also build relationships with their other stakeholders.

At each of their locations, PFE currently has both store managers and IT managers on staff. For the purpose of streamlining data collection and reporting to the main office in preparation for an expansion, the CEO has appointed a chief financial officer to supervise finances and a chief information officer to unify diverse systems and technology. He has also been tasked with creating an online presence by the CEO.

For PFE's strategic sourcing plan, enterprise resource planning necessitates harmonizing strategic sourcing with the organization's goal and vision. A look at PFE's mission and vision is at the heart of this report. Communication was not singled out, but it must be executed so that each stakeholder is aware of organizational aspects, making them eager to provide feedback and embrace the perceived outcomes. Communication should be implemented.

To ensure that all PFE employees are on the same page, the company needs to establish regular meeting hours for all of its divisions. To ensure that all departments are on the same page on upcoming changes and implementations, PFE must have cross-functional teams. This will prove useful throughout the actual implementation process because everyone working in the various departments is aware of the upcoming implementation and agrees that it will be successful.

After adopting a strategic sourcing plan, the organization must implement the necessary policies and procedures to ensure that leadership is on board. In this approach, employees will be aware of the essential parts of the sourcing plan, such as cost analysis, supplier selection and contract negotiation, and supplier development and performance management (Tarigan & Siagian, 2021). Under these conditions, PFE must identify important stakeholders while collaborating closely with operations, recruiting and retaining personnel, and implementing change and project management.

A mix of print and digital media will be used for marketing. The first generation of personal computers, mobile phones, and printers for the general public all arrived in the digital age (Fung & Gale, 2021). TV commercials and print ads have been improved upon, while new techniques based on inbound practices have emerged in today's culture. People are more open to marketing approaches when the material is tailored specifically to their needs, as technology becomes more widely available. Great marketing continually outperforms their competition in the creation and promotion of products and services that customers value.

During the selection phase, PFE should evaluate their present business process design in order to ensure that the new techniques are compatible with their existing systems. As a result, an evaluation of the market is required if PFE's current systems are unable to meet the company's requirements. This evaluation will look at the solution's coverage, organizational requirements, and different supplier types like functionality, technical merits, general business improvements, and desired pricing. When implementing PFE's ERP system, it may be essential to employ tools such as electronic data interchange, electronic data interchange, reverse auction, electronic data interchange, and collaborative optimization. Analyzing expenditure during the implementation stage should be done using spend analysis. Identifying organizational structure, importance, relationships, levels of alignment, levels of participation, and spending alignment with the organization's plan are all necessary here.

Utilizing risk management solutions is essential to preventing the organization from finding itself in an undesirable situation. PFE examines item attributes such as supply availability, cost, product, and application through a risk analysis. It examines market attributes such international sourcing, capacity restrictions, the quantity of qualified suppliers, prevailing state of the economy, and pricing unpredictability (Su & Chen, 2018). PFE should also consider evaluating supplier attributes including bulk and mixed requirement change, supply chain management, financial stability, natural disasters, and legal obligations. Capacity limits, inability to cut costs, incompatible information systems, quality issues, unpredictable cycle times (Dong et al., 2021). Strategies for the best course of action are devised based on the categories. A roll-out plan is then developed, including tasks, deadlines, resource requirements, and the person in charge.

In conclusion, the change is completed by strategic sourcing, a collaborative process that is delivering the CEO-required quick and significant outcomes. The sourcing plan gives the CEO enough knowledge to make wise decisions about how to move the business forward.

References

Dong, B., Tang, W., Zhou, C., & Ren, Y. (2021). Should original equipment manufacturer assist noncompetitive contract manufacturer to expand capacity? Omega, 103, 102420. https://www.sciencedirect.com/science/article/pii/S0305048321000293

Fung, M. L., & Gale, D. (2021). Digital Home: The missing element for a people-centered digital future. In The Home in the Digital Age (pp. 15-37). Routledge.

Su, C. J., & Chen, Y. A. (2018). Risk assessment for global supplier selection using text mining. Computers & Electrical Engineering, 68, 140-155.

Tarigan, Z. J. H., & Siagian, H. (2021). The effects of strategic planning, purchasing strategy and strategic partnership on operational performance (Doctoral dissertation, Petra Christian University). http://repository.petra.ac.id/19161/