Selecting a Business Consulting/ Management Company Commitment to supplier diversity is a company’s dedication to actively promoting and supporting diverse suppliers in its procur
supply chain project
I have an assignment supply chain and need help understanding what needs to be done. I will provide the assignment as well as the excel document in order to show what needs to be done with the data.
Requirements:
MCDM Assignment #3 (Individual Assignment)
Selecting a Business Consulting/ Management Company
Commitment to supplier diversity is a company’s dedication to actively promoting and supporting diverse suppliers in its procurement processes. This can include setting goals for the percentage of purchases made from diverse suppliers, providing resources and support to help diverse suppliers do business with the company, and regularly tracking and reporting on progress towards meeting diversity goals. A company’s commitment to supplier diversity can be demonstrated through the creation and implementation of a supplier diversity program.
There are several reasons why companies might choose to adopt supplier diversity programs:
Legal and regulatory requirements: Some companies are required to have a certain percentage of their suppliers be diverse, either by law or by the terms of their contracts.
Reputation and image: Having a diverse group of suppliers can improve a company’s reputation and image, particularly if the company is seen as supporting diverse businesses.
Innovation and competitiveness: Diverse suppliers can bring new perspectives and approaches to problem-solving, which can lead to increased innovation and competitiveness.
Improved relationships with customers and stakeholders: Companies with diverse supplier bases may be able to better serve diverse customer bases and may be more attractive to investors and other stakeholders who value diversity.
Cost savings: Working with diverse suppliers can sometimes lead to cost savings, either through lower prices or through the identification of more efficient processes.
In this context, you are working as a procurement specialist at a large multinational organisation which is planning to hire diverse business/management consultants for their panel of experts. You have been provided with an actual dataset (trimmed) acquired from Dun & Bradstreet (DNB). Dun & Bradstreet (D&B) is a company that provides commercial data, analytics, and insights for businesses. D&B also offers a range of services and solutions to help businesses manage risk, improve customer relationships, and increase operational efficiency. These services include credit reporting, sales and marketing support, and supply chain management. (The Department of Supply Chain Management at MRU has procured full version access to D&B datasets and its associated AI based insights).
The dataset provided to you (the Procurement Analyst?) contains information like the businesses names, addresses, SIC description, annual sales (USD), # of employees, SSI, SER & Paydex indices (details below), information of whether they are owned by women, veterans, LGBTQ owners and whether the business is supported by the Small Business Administration (SBA) ? which is a United States government agency that provides support to small businesses, including loans, guarantees, and other forms of assistance. Use the information provided to you to analyse the suitability of these business consultants if they were to be hired under the supplier diversity program. They all share some common characteristics (women owned, LGBTQ owned or veteran owned etc). Also, there is unique information on their annual sales, number of employees and their location. The analysis you provide must be objectively and subjectively comprehensive and validated. For your analysis, you are free to add any other information you can find about these organisations from open source (but reliable) websites ? potentially designing a composite rating metric that encompasses all your information (SEI,SER, Paydex, SBA, sales, # of employees etc).
Legend:
The SSI (Supplier Stress Index) Index is a tool developed by Dun & Bradstreet (D&B) that uses data analytics to measure the financial health and risk profile of suppliers. The index is based on a scale of 1 to 100, with higher scores indicating greater financial stability and lower risk. The SSI Index can be used by companies to assess the risk of doing business with a particular supplier and to make informed decisions about which suppliers to work with. The index is updated on a regular basis to reflect changes in the financial health of the supplier
D&B’s SER, or Supplier Evaluation Risk, is a credit risk assessment tool that helps businesses evaluate the creditworthiness of their suppliers. It provides a risk score that ranges from 1 to 5, with a higher score indicating a higher level of risk. The SER score is based on various factors, including a supplier’s payment history, financial stability, and the overall industry risk. By using the SER, businesses can better understand the potential risks associated with doing business with a particular supplier and take steps to mitigate those risks.
D&B Paydex is a credit score developed by the company Dun & Bradstreet that predicts the likelihood that a business will pay its bills on time. The Paydex score is based on a company’s payment history, as reported to D&B by trade vendors, and ranges from 1 to 100, with higher scores indicating a stronger ability to pay on time. The Paydex score is often used by lenders, suppliers, and other businesses to assess the creditworthiness of a company and to decide whether to extend credit or do business with the company.
Deliverables as part of this assignment are as under:
Excel file with your computations and notes (if any) such that it serves to support your analyses and recommendations (provided in a separate Word file – the analyst recommendations).
Professional analysis and recommendations based on supplier rating, suitability, risk and other factors you consider. A 2-3 page word report (1.5 spacing, 1 inch margin, A4 page setting, Times New Roman point size 12) to be submitted to your manager (myself) describing the data, approach, questions answered while analysing data, your analysis & recommendations. Pl do not provide a straight-line recommendation to go by the top AHP listing. As a procurement analyst, your job is to conduct data driven research, imbibe objective and subjective inputs, analyse using quantitative tools (like AHP) and report about all potential options and scenarios.
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