Contemporary Supply Chain Management and Consultancy Management Techniques Free Essay Example, 4750 words

This research is being carried out to understand how suppliers are operating, their marketplace, the reason they want to deal with the authorities and long-term goals of such suppliers assist in obtaining the value for the money. Therefore, analyzing the supply markets might provide information that is valuable about the suppliers weaknesses and strengths. For instance, discovering that a given supplier is very keen on winning a Government contract yet the supplier might have challenges in fulfilling the orders. In addition, identifying comparable goods and services that are substitutable and that might be available from a more competitive and even less risk supply markets and, therefore, offer great value for the money. It also provides understanding a supplier that is more advanced in technology in a certain sector as well as identifying opportunities that would enable to manage a supply chain and that would reduce the purchasing for cost goods and services. The information that i s gathered during the research can be critically analyzed by using the supply market analysis framework that provides a structure for analysis. Also, this framework could be applied in examining the market supply for a good and services as well as focusing on main areas that include. We will write a custom essay sample on Contemporary Supply Chain Management and Consultancy Management Techniques or any topic specifically for you Only $17.96 $11.86/pageorder now Supplying markets could range from an extreme scenario where many firms sell the similar product or offer a particular service to a situation where one supplier is only found (monopoly). In a more developed economy, a majority of the markets can fit into the two categories mentioned. It is unlikely to have a competition that is perfect in every market, one big challenge for contracting the authorities in a market is dealing with situations that are like monopoly or monopoly. However, in such scenario, the contracting authority powers are most likely to be limited and the power resides on the side of the suppliers who could apply their powers to set prices that are very high and as well influence the standards of the services that are available. Therefore, contracting authorities requires considering on how they could develop an innovative mechanism that resolves potential challenges with the monopoly or close monopoly suppliers.