Quantitative Analysis and Decision Making - Example

Quantitative analysis and decision making Student’s Name Subject Professor University Location Date Executive Summary In this discussion, descriptive quantitative research is singled out here as one of the methods of research in a quantitative approach. The forms that this can be operated include survey, case study, observation and forecasting methods. Applying the method of the forecasting quantitative method will be appropriate in this discussion. The issue of green supply chain and logistics management will be the main factor of consideration the solutions that are most appropriate are sought out. The issue that is in focus is the greening of the supply chain and logistics management. The past trends, from a global point of view are addressed. It is from these trends that a forecast is developed on the expected flow that touches these matters at hand. The limitations that are in association with the forecasting technique as applied to the greening of the supply chain management are also closely identified. A major limitation being that of difficulty in the coverage of the dynamism of the closely linked factors in relation to earlier happenings as it is the case with the greening endeavors. The way deal with some of these limitations is recommended after the conclusion is reached like that of multi-coverage of the issue of greening with other methods of analysis in the support of forecasting. Discussion In the supply chain management, there is inclusion of management of the flow of the raw materials, the processing into goods that are ready for consumer use and the distribution aspects involved. The focus is to satisfy the demand of the customers while the minimizing management regulation of logistics activities that are operated daily. The increase in the number of partners in the supply chain and the less control involvement in the management has consists the aim of the supply chain management concept(Christopher 2012). The aim is to enhance trust and partnership among the partners in the supply chain.There are interlinked frameworks involved to yield the goods and services in such a way that there is a build-up of an infrastructure that is competitive and effective. The performance should be easily measurable. The organizations have a focus on the having adjustments to the supply chain in such a way as to make adjustments it more sound environmentally, or green (Sarkis 2012, p.212). The professionals in the supply chain management who have little or no information as far as environment sustainability matters are put to training. The strategies in green procurement enhance the sustainability of business practices in such a way as to meet the sustainability criteria. The supplier’s role needs to be understood where more environment awareness is being created. The suppliers that are in existence will need to be encouraged to integrate a focus on the environment sustainability. (Seuring 2013, p.1517) The method of forecasting is very appropriate in that it has its basis on the information and the data that has historically been approved. There will be a consideration of the past research and reports so as to develop an understanding based on this particular knowledge that is already present. The range of application will be to intermediate-range or short-range decision. The quantitative forecasting may be of the explanatory or the time-series type. The explanatory tends to correlate variables while the time-series relies on trends in the past to forecast. The explanatory techniques have been in use over the years in decision evaluation. The time-series may be considered more accurate especially in the short-term. The forecasting in the quantitative techniques explains the trends in the historical data and uses this as the primary means of obtaining future patterns through forecasts.( Cuo, Pagano & Wang 2011) There are high capital investments and wealth distribution that is being progressively plain in the greening the supply chain especially in the emerging markets. The factors that surroundthese matters include rising educational levels, the lowering of operational costs in the markets of the developing economies, the outsourcing of the functions of product development across the companies globally, financial market liberalization and the upcoming of a consumer culture evolution. The greening of the supply chain is primarily an effort to implement an environment that is improved (Dües, Tan & Lim 2013, p.96). The idea of optimal effectiveness for a global economy follows a greening of the supply chain management that is not separate from the activities that are business oriented. There is full integration which reflects the core business strategy where there is an effective business sustainability plan (Carter& Easton 2011, p.47). The value created is in the direction of mitigation of business risks, the cost reduction, the motivation of suppliers who are best performer, preservation of the continuity of a business, enhancement of access to the market and the freedom of the strategies of business degrees. In China, there have been challenges in the allocation of power like in the aluminum industries including the blackouts that are on a rotational basis where the scarce supply of energy need to be optimally allocated (Zhu & Geng 2013, p.8). This is in the awakening of the demand of the consumers and the industrial growth. There have been the green supply chain that are directed towards the energy efficiency together with the various other issues in sustainability that buffers the process of businesses from such complications in operations while keeping an eye on the reduction of emissions. In the industries that deal with the food ingredients supply or water resources, there is high need to combine the activities with the societal solution problems. The Coca-Cola Company, for example, has in its integration an objective of being ‘water neutral’ where there is replenishment of the quantity of water utilized in the production of the various beverage products it makes (Ridoutt & Pfister, 2010). This is aimed at the reduction of the competitive inclinations to the access of a resource that is scarce especially in the focus of the consumer welfare. There is a call for companies to reconcile their strategy of the operations of their businesses with the expectations of the society so as to reduce the risk that may be there of societal and political actions. The resources and the management efforts are therefore fruitfully engaged if they are involved in bringing about a green supply chain and logistics management. The supply chain greening implementation done by World Environment Center in the various parts globally has been plainly a pace set for many. It has given out some fundamental factors to enhance the success in the initiatives of greening. These are: suppliers’ benefits creation, acknowledgement of the diverse competencies of the suppliers, direct support for the suppliers that is on-the-ground and the recognition of the incentives externally for the supplier performances that are greener. In addition, there is the effort to collaboration with the locally situated people within the culture of the nation and also to the achievement of the commitment of the senior management. (Christopher 2012) From the above report and research, it can be seen that for there to be prospects of success, the issue of greening the supply chains must be adopted globally. This is in part the integration of business strategies in the sustainability matters. There will be the formation of the risk management and the reliability operationally upheld. The indicators performance in environment and energy are therefore clearly put. The global companies will be progressively expected to establish a greening supply chain in an expensive way. The efforts are expected to come from not only the governments but also from the non-governmental agencies. There is an expected chain of advocacy programs that has keen focus on the matters of greening the supply chain and also integration of management actions towards the strengthening of these objectives in the day-to-day operations of the businesses. Following the identified trend, it is to be expected that there will be a continuous increase in the greening activities. This is intertwined with the economic forces that are continually being revealed in the marketplace globally, natural resources consumption concerns and the environmental quality setup. There are also expected changes in the economics of the transportation of components of production, raw materials and the finished products networks of distributions. Discussions and debates in analyzing the best way possible in management and rationalization of the supply chains internationally are expected to be on their rise. Limitations The forecasting method is primarily formed in reliance to the past data from research and reports. The earlier findings are critical in the explanations of the expected operational flows in the future. However, there may be existing loopholes that were not well addressed in the previous coverage. There may be a risk that mistakes, either of commission or omission, may be repeated yet again. The results therefore may lack reliability in their formation due to this inefficiency. The likelihood of the repetition of a flaw will fundamentally be dependent on the extent of the dependence that has been put to the prior trends. Faulty results must be changed by the help of a different set of operations different from the mimicking and forecasting approach alone. The dynamism that certain aspects take requires a fresh look in a continuum. It calls for a proactive endeavor in the making of the comprehensive report that covers the particular issues of concern that have not been prior in existence. There are cases where the probability of the recurrence of a certain issue or phenomenon is not easily predictable. The strategies in use will therefore need the clear usage of a fresh look at the issues from an entirely new angle. It could also mean that even though the historical data and the past research are of critical value, they have to be supplemented with other areas of operations to make them to be effective (Goodwin & Wright 2010, p.361). The link between the quantitative and the qualitative approaches may at certain instances be required to be put in place to bring about the best value. The individuality of the forecasting technique will therefore be compromised on the effort of the efficiency. There will be a requirement to shrink or to stretch the concept of its coverage due to the complications that it may carry with it. Conclusion There is a development endeavor that is linked to the greening of the supply chain and management. The issue of environmental sustainability both externally needs coverage even beyond the already established flows. A necessity has therefore been developed in the need for the organizations to rethink their greening activities that are linked to the supply chain and logistics management. From the observed trends, we can forecast that this will progressively not only be a good strategy for the companies to adopt but a legal necessity for their operations. The needs of the customers will progressively be enhanced by the cross check of the past trends and put a forecast of the take that will likely be adopted. The value of the organization will be expected to be on their rise when these greening activities in the supply chain are adopted. However, this will call for an extra cost in the preparations and the implementations of these programs. But as the value of the firm increase, the greater the market share that its will be likely to gain hence a greater profit share. The forecasting quantitative method can therefore yield the right coverage for the proper decision making that is required. In this case, the expected trends are clearly identifiable thus shedding light to what should happen in the matters of the greening of the supply chain and logistics management. There need to be a working of this issue clearly and closely in an objective way in order to cover buffer the society and the economy against any harsh or negative effects. Recommendations There should be a total adoption of the green supply chain management by the companies. There follows an outlook of this matter in aspects like process modeling, best practices and performance management. The process to be implemented need to be clearly put across so as to bring about a pilot testing linked to the project management practices. The past data and research performed help to identify the sectors that need to be closely benchmarked. This will ensure, for example, that the greening activities discussed are forecasted correctly from an informed base. The performance management will ensure that there areevaluation programs that effectively run through the system that are facilitated by forecasting method and also other quantitative methods. There need to be an integration of the forecasting techniques with other techniques to avoid any gap or wrong coverage. The forecasting method is therefore easily applicable in the supply chain management in the enhancement of research opportunities. The trends that have been earlier observed forms a key identifier base for the confidence of the forecast. A thorough coverage of the past data therefore needs to be done for any relevant conclusion to be achieved. References Carter, C R & Easton, P L 2011 Sustainable supply chain management: evolution and future directions International Journal of Physical Distribution & Logistics Management, 411, 46-62. Christopher, M 2012 Logistics and supply chain management Pearson UK. Cuo, L, Pagano, T C & Wang, Q J 2011 A Review of Quantitative Precipitation Forecasts and Their Use in Short-to Medium-Range Streamflow Forecasting Journal of Hydrometeorology, 125. Dües, C M, Tan, K H & Lim, M 2013 Green as the new Lean: how to use Lean practices as a catalyst to greening your supply chain Journal of cleaner production, 40, 93-100. Goodwin, P & Wright, G 2010 The limits of forecasting methods in anticipating rare events Technological forecasting and social change, 773, 355-368. Ridoutt, B G & Pfister, S 2010 A revised approach to water footprinting to make transparent the impacts of consumption and production on global freshwater scarcity Global Environmental Change, 201, 113-120. Sarkis, J 2012 A boundaries and flows perspective of green supply chain management Supply Chain Management: An International Journal, 172, 202-216. Seuring, S 2013 A review of modeling approaches for sustainable supply chain management Decision Support Systems, 544, 1513-1520. Zhu, Q & Geng, Y 2013 Drivers and barriers of extended supply chain practices for energy saving and emission reduction among Chinese manufacturers Journal of Cleaner Production, 40, 6-12. Read More