Posted: January 7th, 2023
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please don’t copy answers from outside websites or I will get a zero.
I will let you review 2 student answers and give a small review AFTER you are done with the questions..
Chapter 7 is titled “Terms of Payment” and includes the following topics:
Alternative forms of payment.
Risks in international trade.
Letters of credit
Purchasing cards, trade cards, and bank guarantees
Chapter 8 is titled “Managing Transaction Risks” and includes the following topics:
Currency and exchange rates
Managing transaction exposure
Currency as a marketing tool
Chapter 9 is titled “International Commercial Documents” and includes the following topics:
Requirements for documentation
Document preparation as a marketing tool
Chapter 10 is titled” International Insurance” and includes the following topics:
Perils faced by international shipments.
Lloyd’s of London
Article A: “3 Fundamental Truths about Supply Chain Disruption & Risk,” Link: https://www.supplychain247.com/article/3_fundamental_truths_about_supply_chain_disruption_risk/risk_managementLinks to an external site.
Article B: “Three Bidding Strategies to Maximize Performance in a Tight Freight Capacity Market,” Link: https://www.supplychain247.com/article/three_bidding_strategies_to_maximize_performance_in_a_tight_freight_market/smc3Links to an external site.
Article C: “Dynamic Ocean: The Next-Generation, End-to-End Platform for International Ocean Shipment Visibility,” Link: https://www.supplychain247.com/article/dynamic_ocean_the_next_generation_end_to_end_platform_for_visibility/oceanLinks to an external site.
Please review the assigned materials before responding to the questions below.
COVID-19 has created unprecedented risks and disruptions to global supply chains. How could large importers such as Walmart and Target? How could these firms use the three fundamentals of supply chain disruptions & risk (Article A) to manage supply chain risks in 2023? Please include a discussion about forms of payment, currency exchanges, international banking, and currency as a marketing tool.
Which bidding strategies will be most important for Walmart and Target in 2023 (Article B)? Why?
What types of ocean or air transportation insurance between the United States and China will be most important in 2023 (Article C)?
There are three ways to manage risks for firms exporting goods to China: retaining the risk, transferring the risk, or a hybrid approach over retaining and transferring risk. Which risk management method would you recommend for U.S. companies exporting goods to China in 2023? Why?
Please post an insightful question about global supply chain risk management. Why is this an important question?
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