Supply Chain Strategy and Performance: Stakeholder Feedback and Benchmarking (4, 2)

Question 1

What are the different categories of stakeholders?

Answer 1

• Internal Stakeholders
• Connected Stakeholders (customers, suppliers, shareholders)
• External Stakeholders

Question 2

What is a tool for mapping stakeholder power?

Answer 2

Mendelows matrix with power up Y axis and interest across X axis.

Question 3

How can you gather stakeholder feedback?

Answer 3

• Formally through questionnaires
• Formal complaints procedures
• Informally via discussions

Question 4

What is the performance prism?

Answer 4

Stakeholder satisfaction on the top
Stakeholder contribution on the bottom
Strategies, processes and capabilities are the middle. The person must consider each of these and what is required to meet the stakeholder needs.

Question 5

What is a communication plan?

Answer 5

A table which records how different stakeholder groups will be communicated to. It records the methods of communication and regularity.

Question 6

Benchmarking can be done to compare your organisation with another considered “best in class”. What are the key decisions when benchmarking?

Answer 6

• What – do you want to benchmark
• Who – should the benchmark be undertaken against
• How – will the information be gathered

Question 7

What is the difference between comparative analysis and benchmarking?

Answer 7

Comparative analysis focusses on differences between organisations and the way in which they operate however benchmarking is about understanding why differences arise. Benchmarking is sometimes done continually and is about building on best practice rather than just replicating what others are doing.

Question 8

What are the main types of benchmarking?

Answer 8

Strategic – benchmarking involves assessing long term strategies
Competitive – benchmarking against organisations with similar products
Process – benchmarking specific processes against organisations with similar tasks
Functional – benchmarking specific business functions against organisation
Internal – benchmarking against part of the same organisation
External – benchmarking against recognised best in class organisations

Question 9

What are the pros and cons of internal benchmarking compared to other benchmarking?

Answer 9

+ Cheaper and easier than working with external organisations
+ It can be quicker
+ Confidentiality
- Same organisation is unlikely to be significantly different
- Internal politics may hinder effectiveness

Question 10

What is considered the best benchmarking?

Answer 10

Competitive benchmarking is considered the best

Question 11

Using gap analysis, what types of performance gaps might you find?

Answer 11

• Service gap leading to poor customer satisfaction and complaints
• Operational gap leading to process errors
• Strategy gap can result in loss of direction