Sourcing Plan for PFE

Sourcing Plan for PFE

PFE, a denotation of Phoenix Fine Electronic, is having an incredible vision and mission of continuous expansion to reach another three neighboring states in the coming five years.  The firm needs to employ similar populations of about 100, 000 up to 200,000 persons.  The numbers are likely to establish the stores which are likely to be opened within the next five years. By the acquisition of smaller stores that are independent, PFE longs for a marketing company to perform analysis for every town, which is meeting the criteria of growth regarding the population. Thus, marketing analysis assists in determining top cities where new stores shall be opened. However, the Chief Executive Officer is troubled concerning departments and clients’ data that require aggregation in permitting the company to make excellent business pronouncements timely. The firm ought to make sure that there are unique, unresolved customer services as well as offer value towards customers’ base that the company is likely to serve in the future. Because Phoenix Fine Electronic indeed intends to adopt solutions of enterprises, by this impasse, the company requires creating a sourcing plan, which is strategic in assisting them in maintaining the focal points in their subsequent projects in the future. By initiating the process of enterprise resource planning, Phoenix Fine Electronic should put up a strategic sourcing squad composed of members having suitable levels of competencies as well as being experienced in various regions. The team of this level would incorporate supply chain, finance, sales, marketing as well as engineering. The company’s management ought to look at their projects as well as develop forecasts in support of IT logistic planning. For that matter, this is an endeavor to bring an organization together in addition to commence strategic thinking. As indicated by Quinn(2014), PFE required to craft a permanent focus in three to five years, which incorporates data analysis and management.  Through the capability of looking at data together with an emphasis on appropriate categories, the developers and suppliers should have a partnership relationship for proper workings.  The strategy of Pine Fine Electronic should be anchored on different types, incorporating the issues of prices alongside costs. Besides ensuring that suppliers are available to deliver their materials, as they are developing effective relationships with the stakeholders, the management should always attempt treating all the suppliers with decorum.

Presently, Phoenix Fine Electronics hires IT and store managers within their store precincts. The Chief Executive Officer has similarly employed CFO (Chief Financial Officer) to oversee various issues that are associated with the company’s financial matters.  Also, hired by the CEO is the Chief Technology Officer (CTO), who is responsible for consolidating disparate systems. The CTO is again accountable for merging technologies, which are existing between every store. The attempt to streamline the gathering of information as well as data reporting to the principal offices in support of expansion is a task done by CTO. Besides, the CEO has assigned CTO with the task of developing the company’s online presence. This will make the firm to reach many customers globally.  The essay commenced with viewing the mission and vision of PFE. Albeit communication was never singled out, such ought to be implemented to make every stakeholder become acquainted with organizational factors. For that matter, this would make the stakeholders develop the desire to give inputs alongside accepting generally perceived results as a result of the expansion.   Through ERP, the strategic sourcing plan for Phoenix Fine Electronics should incorporate bring into line strategic sourcing having corporate visions. This will make the actions of the company to e aligned with the company’s mission and vision.

Phoenix Fine Electronic should arrange particular periods where it interacts with every entity in an organization. This will ensure that everyone within the company reads from the same scripts. It is similarly requisite that PFE to set up the cross-functional squads. This will make every department to be aware of all the prospective implementations otherwise changes. Again, it shall assist in helping out in later stages down the road in the period of actual deployments. This is because each person in various departments shall have appropriate acquaintance concerning any probable implementation in addition to agreeing on the possibilities of making the plan work.

Upon the strategy of adoption concerning the sourcing plans, the company should insert effective procedures together with policies that shall assist in ensuring that leadership is on board. Through that, the workers would be capable of knowing appropriate aspects like analysis of conceiving costs, selection of suppliers, contract negotiations, suppliers developments, as well as issues of performance management. Within these perspectives, Phoenix Fine Electronic should be able to recognize significant stakeholders as the company works meticulously with operations, employing alongside retaining talented workers. With all these, PFE will be capable of transforming project management taking place in the company.

As indicated by Williams (2016), older trends in marketing entail newspapers, phonebooks, flyers, telemarketing, radio advertisements, and billboards, among others. Within the digital age, the items for marketing incorporated essential smartphones, personal computers, and printers, which are friendly to users, have emerged.  In nowadays society, marketing is an amalgamation of past and current trends which have been typically improved. These incorporate ads on TVs and even print media having fresh strategies concentrating on inbound practices. Besides, Willims(2016) stipulates that “technology becomes increasingly available to the general public and that people are more receptive to marketing tactics when the material is formatted directly for them.” As outlined by Tobak (2012), the primary purpose of marketing is creating and promoting products and services which shall ultimately buy. However, more significant trends in marketing are consistently better as compared to the competition, which often occurs in the market.

As indicated by Quinn (2014), in the period of implementing methodologies in support of the process for selection, PFE should look into the design of the business process, which is in line with the present system used by PFE. In case the current system of PFE is not providing whatever is required, then it is appropriate for the company to conduct market analysis. The market analysis should incorporate the needs of an organization, coverage solutions, types of suppliers like desires in pricing, technical advantages, enhancements for general businesses, and functionality.  However, in the process of implementing an ERP system for the company, it would be appropriate when electronic sourcing tools are employed like e-RFX, reverse auctions, arrangements for the purchase order, e-design, e-sourcing, contract creations as well as optimization collaborations to be efficacious (Engel, 2004). In the period of the implementation process, the company can use spend analysis to exhibit accurate data on the usage of money by the company. In this process, it is good to recognize the structure of a company, identify the significance, assess association and alignment levels, involve every shareholder as well as align the expenses undertaken by PFE to be aligned with the plan of an organization. This sourcing plan will provide the CEO with sufficient information in making viable choices when it comes to the company’s management.

References

Engel, R. (2004). Strategic Sourcing: A Step-By-Step Practical Model. Retrieved from: https://www.instituteforsupplymanagement.org/files/Pubs/Proceedings/FBEngel.pdf

Quinn, Jack (2014). Six steps to creating a strategic sourcing plan. Retrieved from https://www.youtube.com/watch?v=AlXf_VOt6AM

Tobak, S. (2012). 10 companies with insanely great marketing. Retrieved from: https://www.cbsnews.com/news/10-companies-with-insanely-great-marketing/

Williams, A. (2016). Trends of Marketing Past, Present, and Future. Retrieved from: https://metova.com/trends-of-marketing-past-present-and-future/