Business Answers (Essay Sample)

Answers
Name
Institution
Date
Outline
Introduction: Financial performance is the measure of a firm’s success as shown by its financial records over a given period. All the financial records of the business should be checked when evaluating the financial performance.
The performance of the logistics and supply chain of the organization is measured by the evaluation of supply at different stages. Supply chain metrics are the best at describing the performance of the organization
The organization should consider the chain’s flexibility, responsiveness, cost, and delivery reliability in the evaluation of the supply chain performance
The logistics and supply chain operations of the organization involve the use of an automated call answering system.
The business engages in the sale of stationeries to schools and other private organizations.
Information technology is a critical component of organizational structure.
IT is crucial in the production, storage, and dissemination of information, both within and outside the organization.
IT should also be employed in tracking the delivery vans during the supply process, to ensure safe and timely delivery.
An organization should ensure that only the right technology is integrated into its system.
In selecting the technology, the business should consider the cost of implementing it, its flexibility, adaptability and the impact that it will have on the organization’s workforce.
The business will have to bear the cost of training its employees on the technology that it has integrated. This organization also faces security risks associated with handling of sensitive information in the whole system.
The organization will have to keep pace with the changing trends in technology in order to ensure that the technology integrated remains relevant and productive to its operations
Conclusion: It is necessary for an organization to have financial records of its performance, and a good IT system to manage the supply chain.
Answers
Financial performance is the measure of a firm’s success as shown by its financial records over a given period. In the evaluation of the financial performance, all the organization’s financial records should be cross checked in order to extract its current financial situation for comparison with the initial records. The business’s fiscal performance can also be shown by rating the performance of the departments within it. The information on the operations at the departmental level is obtained from the records of different performance metrics kept at the respective specialized divisions (Christopher, 2011).
The performance of the logistics and supply chain of the organization is measured by the evaluation of the supply at different stages. A good supply chain is one that has definite qualities. The performance of the company is best described using the supply chain metrics that have been adopted by different organizations. These metrics do not show the correct status of the firm’s supply chain performance most of the time, especially where big figures are involved. Therefore, in the evaluation of the supply chain performance, the organization should consider the chain’s flexibility, responsiveness, cost, and delivery reliability. While both balance sheets and financial statements do not indicate a clear picture of the supply chain, they are used in the evaluation of the supply performance. This is because they show records of changes in the stock of the commodities that the business supplies in a given period. This information is essential in the evaluation of the supply chain’s performance (Mentzer, 2001).
The logistics and supply chain operations of the organization involve the use of an automated call answering system. This allows customers to place their orders and schedule delivery. There are also several vans, which ensure that the orders for the goods placed by customers are delivered on time. The business engages in the sale of stationeries to schools and other private organizations (Coyle, 2013).
Information technology is a critical component of organizational structure. It is necessary for a business to integrate this trend into its operations. IT is crucial in the production, storage, and dissemination of information, both within and outside the organization. Within the organization, this trend should be used when handling supply chain to keep records of commodities sold, and in the clearance of products that have been sold. IT should also be employed in tracking the delivery vans during the supply process, to ensure safe and timely delivery (Christopher, 2011).
An organization should ensure that only the right technology is integrated into its system. A business should select technology to be used by taking into account the demands and complexities involved in its operations. Complicated supply chains require advanced technology while noncomplex ones require simple technology. The business also co...