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Key Topics
Requirement
Make recommendations that minimize the risk for other organizations.
ASSIGNMENT
Solution
Summary
National electric power is an energy company which is multinational with a great assortment of energy assets. The headquarters of NEP is in Columbus, Ohio and the area of service is around 197,500 square miles in Kentucky, Arkansas, Ohio, Indiana, Texas, Virginia, etc. in 2001, National electric power generated revenue around $61.3 billion and it further carried around $48 billion as assets. It further became the largest generator of electricity in the US. The vice president for the NEP is Deon Houston, she was in the procedure of generating the report of an annual source for the three-year plan of the company. While it seems that NEP has had success by utilising the competitive procedure of bidding and moreover, the reverse auction might be the future wave of success. Mrs Houston wondered that if the source of reverse auction approach might work in order to purchase the coal requirements of the company.
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The option of reverse approach would be beneficial for the company as the cost at which the coal might be sourced through the suppliers would decline by minimizing the cost of generating electricity for the national electric power drastically. And further, this will minimise the production cost, and as a result, it will maximise the profits.
The recommendation can be affiliated to the quality of the supplied coal. Checking of the quality is also needed at this point in time when the cost of coal would be minimized, and this might affect the quality of the coal which is to be delivered.
It has been understood from the case study that the national electric power doesn’t have any quantitative method in order to pre-qualify the suppliers. They don't give a chance to the new suppliers as they only deal with the reputed and experienced suppliers. The company depends on the dealings of the past in order to make the decisions of purchase for present and future.
According to the theory of Saint Leo core value of respect (J.Y. Huang. 2016), we should value the unique talents of the individual, we should respect the dignity of the individuals, and we should strive to incubate their commitment towards the excellence in work. The strength of the community relies on the diversity and unity of people, depending on the free commutation of ideas, living, learning and moreover working canorously.
Being an individual, I would like to recommend on the basis of this theory that the national electric power should change their way of working. And should give a chance to the new talent as well as they are unique in their own way. The company should believe in diversity as this will help in maximising profitability, and the company will be able to achieve the sustainable competitive advantage for a longer period of time (Yu et al., 2012). The company should not only reply on the reputed and experienced suppliers because the suppliers also have a unique and innovative way of working as they are the new entrants and want to achieve the sustainable edge in the market. Therefore, the company will be able to succeed in future.
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J.Y. Huang. (2016). saint Leo core value of respect. Retrieved 28 November 2016, from http://Florida Catholic University | Saint Leo University
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Yu, M. C., Goh, M., & Lin, H. C. (2012). Fuzzy multi-objective vendor selection under lean procurement. European journal of operational research, 219(2), 305-311.
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