Speech to The Target Board of Directors Essay (Essay Sample)

Speech to The Target Board of Directors
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Speech to The Target Board of Directors
Good morning,
The next few minutes, we will engage on vision and mission to be incorporated for the department as the new chief purchasing officer. In this talk, we will get to see the strategies and tactics intended to cement the relationship between the department and the corporate vision; this includes developing a suitable supply chain through stakeholder engagement, supplier audits, ensuring compliance with the laws, accountability, and supplier/team members training. Secondly, we will talk about my mission and vision, which are to develop sustainable supply management through feasible procurement practices. The vision is to incorporate for harmonious internal relationships with teams for a sustainable supply chain for a better tomorrow and conclude the talk with the department's future plan.
Gone are the days when an organization’s supply function was centered on procedures and policies for availing supply and cost management. Traditional supply had a criterion where only quantity, quality prices, delivery, and service were adhered to, this has transformed to include innovation, risk, environmental regulatory compliance, financial, political factors, and transparency. The additional factors are capable of giving your supply chain a competitive advantage, as observed later in this talk. Today, the world has more educated consumers, more skilled employees, and a more aware society. The handling of the first two is a challenge by itself; it is the social awareness that has dominated the present century. Today an organization will be avoided for not giving back to the community or not adhering to environmental concerns. Comparing the past supply chain functions, the present one asks for executive leadership with the key factor being sustainability, risk management, globalization, and security. The government has also played a key role in the evolution of the supply chains, and hence we cannot ignore their importance in this talk.
vision and mission
As the new management, the mission is to develop a sustainable supply management through feasible procurement practices and teams. The vision is to incorporate for harmonious internal relationships with teams for a sustainable supply chain for a better tomorrow.
Relationship Between My Vision/Mission and Those of Target as an Organization
Targets as an organization is guided with commitments to great value, the environment, the community, and diversity as the vision while the mission is to develop the firm to become a preferred shopping destination for target customers through offering exceptional value, exceptional first customer experience, and continuous innovation by constantly fulfilling the expect more, pay less organization promise. Based on the organization's vision and mission, the mission set for the purchasing department will vertically align extremely well as they share a commitment goal of commitment to the environment and the community. But what about the employee?
While there is more to making profits and maintaining a successful company, the efforts invested in would rather be not feasible if it were not for the various employees manning different sections in the company. Having identified that my plan to foster my vision with target’s vision will start by fostering teams and strengthening the already existing teams in the supply chain. I will incorporate cross-functional teams, a team with suppliers, teams with the supply management, and teams with customers on this agenda. Secondly, there will be mandatory training for both the suppliers and the target team. The training program will be updated every six months; however, the current one is meant to teach and remind on social, economic, and environmental compliance program and targets standards. In the first update of the training program, there will be new topics on innovations, creativity, and change to carter for the foreseeable future. Training the supply management team will yield the benefit of having leaders who can forecast, giving target’s supply chain a competitive advantage.
To gain a competitive advantage using teams, there is a need to have a supportive organizational system, structure, and culture; in this case, I am already in a better position as Target's culture is supportive where it has already enrolled classes for teams in supply management and other departments. Mine in this factor will be to incorporate the purpose of a sustainable supply chain through measurable goals and providing for an opportunity for the team and for the individual. Team members need to understand the concept of consumer satisfaction, not the individual functional success. To ensure success in developing teams, I will ensure that the right skills are placed at the right team when they are needed or when those skills are required.
At the beginning of this talk, we talked of a much aware society existing today, which means any information regarding organization is easily accessible. A supply chain can affect brand reputation for the current issue of forced labor. To protect the organization's reputation, I intend to enhance the lives of staff throughout the supply chain by ensuring competitive pay, motivating the environment, ensuring health and safety, and promoting fair working conditions. On this point, my plan is to focus on ethical sourcing and reverse logistics.
Ethical sourcing entails focusing on environmental, human, and animal wellness. As mentioned earlier, sustainability will center on environmentalism, economic health, and social focus. As the purchasing department, we must ensure that our suppliers obtain materials by respecting natural resources and human harvesters. This human sourcing will include other practices such as ensuring the suppliers provide maternity/paternity leave and raising wages.
Reverse logistics has not lost its value yet, and with the improving technology, this concept will continue being instrumental in developing a feasible supply chain. In this strategy, the main focus will be on the wrapping bags, which i think should be mandatory for not only Target but all organizations to issue their consumers with a return discount -that is, a certain fee for returning the shopping, wrapper, or gift bag after use.
The second practice involves developing a sustainable supply chain through the developed teams to achieve a competitive advantage at the lowest cost possible. Target holds corporate social responsibility and ethical standards very high. These are some of the key factors to consider while maintaining a sustainable supply chain. However, there is the crucial theme of the green concept, which incorporates future innovations too. A sustainable supply chain is one that has fully incorporated the legal, economic, social, and environmental concerns all through the supply chain. However, my second practice is engaged to take this holistic style and continue monitoring and preventing forced labor within the supply chain, ensuring all the stakeholders in the supply chain adhere to environmental concerns and policies (stakeholder engagement), performing regular supplier audits and accountability.
The most restorative practice will be to ensure all the work and efforts do not go to waste. How do we achieve this? Well, as the purchasing depart