Description
The sourcing plan should include a comprehensive SWOT (strengths, weaknesses, opportunities, and threats) analysis, traditionally used to guide plan implementers toward defining objectives. A SWOT analysis helps identify potential roadblocks (weaknesses and threats) and prepares the way for dealing with them through organizational strengths. It can also identify potential opportunities that help to implement the plan strategy. In the strategic sourcing plan, it is important to identify roadblock conditions since they invariably affect meeting key objectives.
Now that you understand this material, create a SWOT analysis for your sourcing plan. Use the previous elements to help you. Remember, think broad as well as looking at specifics regarding global sourcing. Also, make sure you review internal and external issues and characteristics. Lastly, review previous elements to help gain more insight.
Your write up should 2-3 pages and in APA format (Title page isn't needed. References should be added if necessary). Make sure that you create an actual diagram of your SWOT analysis. There are different formats that exist. You are encourage to use any type of format you desire.
Explanation & Answer
Attached.
Running head: SWOT ANALYSIS OF SOURCING PLAN
SWOT Analysis of Sourcing Plan
Institution Affiliation
Name
1
SWOT ANALYSIS OF SOURCING PLAN
Summary
SinoDrink is a Chinese company that imports different Italian wines into the Southeast
Asia region (SinoDrink, n.d). The strategy to bring these drinks closer to people encompasses a
sourcing plan that needs to stand the test of time through an analysis of Strengths, Weaknesses,
Opportunity, and Threats (SWOT).
Strengths
The biggest strength for SinoDrink in the development of its sourcing plan is the
availability of enough financial resources. This is an advantage because it can enable them to
support the vital activities and processes in a sourcing plan and also enable them to get into
contractual agreements with suppliers. The availability of financial resources for SinoDrink will
guarantee them an advantage over their competitors since they will have a robust process. The
other strength of SinoDrink is in its understanding of the Asian market, which is vital in the
development of sourcing plans. Available networks of retailers and wholesalers are also
something that SinoDrink can take a...
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