need a response to 2 post

Week 4 IL

Leonel Silvera-Celedon

Manage Discussion Entry

6. Define benchmarking and discuss what it embraces.
Benchmarking within logistics is the process of measuring products, services and practices against what has been identified as the best so that a company can then learn and improve on their processes.  By benchmarking processes, a company is able to identify problems or issues and then address them so that their supply chain is made more efficient.  Benchmarking can be done internally within the company so that breaks in procedures are identified and remedied or it can be done externally where one company compares their metrics to their competition and other companies.  This type of benchmarking lets a business know where they stand within the competitive stage and also set baselines and objectives to improve their position.       
 
9. Discuss why days-in-inventory is an important part of the cash conversion cycle.
The cash conversion cycle is a measurement that determines how quickly a company is able to convert cash into inventory and then back to cash by selling that inventory.  Days-in-inventory is how many days it takes to sell the entire inventory.  If DIO is low, this means that it takes a shorter time for a company to convert inventory to cash and therefore has a short CCC.  A company that has a short cycle is considered efficient since it hints that the company is seeing a quick return in the form of cash from sales on their investment in inventory.  This bodes well since it means that the company has money on hand for more capital investments and ultimately profits.    
 
Branch, A. E. (2009). Global Supply Chain Management and International Logistics. New York: Routledge.
Downs, Brandon.  The Purpose of Benchmarking in .  Benefits Group.  November 4, 2019.
Mueller, Jim. Understanding the Cash Conversion Cycle.  Investopedia.  March 7, 2021.

Hunter Calhoun

Manage Discussion Entry

6. Define benchmarking and discuss what it embraces.
A benchmark may be defined as the predetermined level/standard (Branch, 2008).  It may embrace price, quality, design, efficiency and cost-effectiveness (Branch, 2008).  Benchmarking embraces the supplier and distributor. A strategic focus must be maintained at all times in order to keep ahead of the competition (Branch, 2008). This includes reducing the lead time to source the product, effective cost control, quick transit time, product outsourcing, JIT strategies and total quality management (Branch, 2008). Benchmarking embraces setting principles and has a strong bond with the global supply chain. It also embraces developing the best practice as examined in B2B and B2C (Branch, 2008). 
Reference
Branch, A. E. (2008). Global Supply Chain Management and International Logistics. [MBS Direct]. Retrieved from https://mbsdirect.vitalsource.com/#/books/9781134150953/ (Links to an external site.)

11. How has IT and E-Commerce changed the world of logistics?
The rapid growth in ecommerce demands a quick, innovative, and efficient response from transport and logistics companies (Atkins, 2019), especially now Covid-19 has caused ecommerce to explode in growth and has considerably changed logistics and the supply chain. New technologies such as augmented reality, drones, advanced robotics, and smart glasses for hands free pick, pack, and ship are the key to efficiency, reducing costs and ensuring the competitiveness of the company and satisfaction of the customer (Atkins, 2019).
References
Atkins, B. (2019, May 6). Logistics in the e-commerce era. Retrieved April 5, 2021, from https://www.forbes.com/sites/betsyakins/2019/05/06/logistics-in-the-e-commerce-era/amp/