Wedlock Engineered Products (Chapter 10). Management Essay

Wedlock Engineered Products
Name:
Instructor:
Institution:
Date:
Weightage points are usually given based on the performance of the supplier over a given period of time. When it comes to the weightage points given to Marandi as a previous supplier in relation to any new supplier, it should be over 50%. This is due to the already existing long-term working relationship between the two companies. In the selection process therefore, there is need to consider such weightage points in the selection process.
It is recommended that the quotes offered are analyzed in terms of their respective costs. The two lowest quotes were offered by Marandi and Vergis. Secondly, after looking at the quotes therein, it is important to look at the nature of services offered. Marandi offers just in time (JIT) services while on the other hand, it is somehow difficult to know what kind of services Vergis offers. It is worth noting that such services play quite a great role in helping the company to save on inventory costs (Johnson & Flynn, 2015). The long-term working relationship with Marandi is an extra boon, considering that the company knows how business has been all along, even bailing out the company when it comes to supplies and flexibility of terms.
Marandi has been able to help the company’s production remain optimum even when the orders were needed within short deadlines or high urgency (Russil, 2016). With such a cordial relationship, the contractual terms with Marandi can be quite flexible and even easily revised at any time without any strain in the business. The same cannot be said about Vergis, considering that there is no history or experience with them. It might take some time to gradually adjust to start working with a new supplier (McWay, 2014). Such teething problems are a factor of time and...