Read the case study titled as "Case Study: Should a Dollar Store Raise Prices to Keep Up with Inflation?" by Jill Avery and Marco Bertini published in Harvard Business Review, and answer the following Questions: 2. Write all the information present in the case that would be helpful for decision. What other information should you gather, that would be helpful to know before making decision?

Read the case study titled as "Case Study: Should a Dollar Store Raise Prices to Keep Up with Inflation?" by Jill Avery and Marco Bertini published in Harvard Business Review, and answer the following Questions: 2. Write all the information present in the case that would be helpful for decision. What other information should you gather, that would be helpful to know before making decision?

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

ChapterC: Cases

Section: Chapter Questions

Problem 5.3SD: Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling...

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Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
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(a) Construct a decision tree for this problem. (Enter your answers in thousands of dollars.) Decision Tree Description Agency 1 No Agency 3 5 What is the expected value (in thousands of dollars)? 100000 * thousand dollars 6 10 (b) What is the recommended decision if the agency opinion is not used? O produce pilot, d₂ Ⓒsell to competitor, d₂ $3 (f) Is the agency's information worth the $5,000 fee? O Yes Ⓒ No -105000 45000 145000 95000 95000 95000 -105000 45000 145000 95000 95000 95000 -100000 50000 150000 100000 100000 100000 (c) What is the expected value of perfect information (in thousands of dollars)? 24560 * thousand dollars (d) What is Hale's optimal decision strategy assuming the agency's information is used? If favorable, produce .If unfavorable, sell X X X X X X X X x X X X X X X X X X (e) What is the expected value (in thousands of dollars) of the agency's information? (Round your answer to two decimal places.) 102415 X thousand dollars What is the maximum that Hale should be…
Please see the question and scenario.