The Management of the Raw Materials
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Added on 2020-05-16
The Management of the Raw Materials
Added on 2020-05-16
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By student name ProfessorUniversityDate: 26 January ,2017
1ContentsQuestion 1.................................................................................................2Question 2.................................................................................................3Question 3.................................................................................................3Question 4.................................................................................................6Question 5.................................................................................................7Refrences...................................................................................................91 | P a g e
21)Based on the case study, the five important stakeholders of the company are-Shareholders are the people who invest in the company, and depends on the financial of thecompany to take important decisions for their investments. The annual report of the companyprovides a snapshot of the financial position of the company and helps the shareholders ingetting the required information[ CITATION Bel17 \l 1033 ]Customers are another importantstakeholder who depends on the overall functionality of the company to get the desired results.The customers depend on the annual reports and other public information that is given out forthe company, the social media platforms, the overall advertising that the company does to getthe desired information needed.Employees are the primary members on whom the workings ofthe company dependent. It is important that companies must treat their employees as assetsand provide them with fair working conditions. If the employee’s functions well, the companywill function well. The overall involvement of the employees has become very prominent andthey also have a say in the business decisions of the company[ CITATION Vis17 \l 1033 ]. Theemployees can get their share of information from the financials of the company and thewebsite of the company.Many companies depend on strong business partners to help inconducting their operations smoothly. Nowadays retailers look for strong supply partners thatcan provide them with the required products at the cheapest price possible. These supply chainpartners often provide ancillary services like transportation and distribution.Environment is oneof the most important stakeholders for the companies are environment in which the companyoperates. It is important that companies should understand their responsibilities in preservingthe nature and the environment and work in sync with the overall well-being of the same.[ CITATION Gar17 \l 1033 ].2 | P a g e
32. A balance scorecard is a performance metric that is used to evaluate and enhance the overallperformance metric of an organization based on the various internal and external factors associatedwith the same. A balance scorecard analyzing one important metrics for the RTXM is given below-ParticularsFinancialsCustomerInternal BusinessProcessLearning andGrowthManagement ofthe raw materialsThe managementof the rawmaterials is animportantaspect.Thecompany shouldgo for suchsuppliers thatprovide themwithbetterresourcesatcheap prices. Thecost of the rawmaterialsisincluded in theincomestatement of thecompany and hasan effect on theThe cost of theraw materials hasimpact on theprice that thecustomer needsto pay. It is thusnecessary fromthe aspect ofcustomer bettermanagement ofthe raw materialsand its growthandsustainability.The companyshouldalsoincludetheenvironmentalimpactofThe managementof the rawmaterials is animportantinternal businessprocess.Thecompany needstoappointexperts who canadvise on thesame and help inensuring bettermanagement.The companyalso needs tohave timely audittoensurestability of itsinternal control.Theoveralllearningandgrowth of thecompanyisassociated withtheoverallmanagement ofthe each andeverydepartment ofthecompany[ CITATION Vis17 \l1033 ]. Growthcomesfromoveralldevelopment ofthe company anditsvarious3 | P a g e
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