Applied Research Problem Statement: Cost Control in Supply Chain Management
PURPOSE STATEMENT AND THE SIGNIFICANCE OF THE STUDY ASSIGNMENT INSTRUCTIONS
The purpose statement should flow directly from the problem statement. It should be a concise paragraph that explains the intent of the study. Specific reasons should be provided for conducting the research and should directly relate to the research questions. The researcher should begin the purpose statement with, “The purpose of this (qualitative or quantitative) study is to…”. The purpose statement should further describe the methodological design identifying the approach or process by which the study will be conducted. This section typically ranges between 200 and 300 words.
The significance of the study should demonstrate why the study is essential and how the contribution(s) from the finalized research will add to the field of study. Keep in mind that this section is different from the problem statement. The problem statement identifies the problem, shows a scarcity or lack of data or information in a particular area. The purpose statement explains why the study is being conducted (to address the problem). The significance of the study section looks at the benefits or positive outcomes of answering the research questions and achieving the goals (purpose) of the study. How will the findings from the research add to or impact the greater the body of knowledge? This section is typically one page in length.
Please follow the below steps:
1. Submit problem statement which is included from previous work.
2. Craft a purpose statement starting with the sentence, “The purpose of this (qualitative or quantitative) study is to…”. The purpose statement should range be 275 words. (2 peer reviewed journal articles 2017-2021 must be different from problem statement)
3. Develop a significance of the study section not to exceed 1 page. (2 peer reviewed journal articles 2017-2021 different from problem statement and purpose statement)
Problem Statement Paper below:
Problem Statement in Supply Chain Management
Rising cost of goods
The general problem to be addressed is the rising cost of goods. The rising cost of goods reduces the market of the product or service being rendered. Having a small market means that the demand for the good significantly reduces, thereby affecting the product's production and distribution channels. Rising costs of the goods are usually affected by the raw materials, thereby increasing production and distribution costs (Lambert & Enz, 2017). The specific problem is rising costs of goods ultimately lead to a reduction in the availability of the market, thereby affecting all the factors of supply chain management.
The general problem in supply chain management is global consumption. An increase in global consumption leads to the development of sophisticated supply channels. Favorable supply channels that reach every global consumer means that money used in production and supply are retrieved back through profits (Arunachalam et al., 2018). A reduction in global consumption leads to losses experienced by the company. The specific problem is an increase in global consumption leads to more profits accrued, while a decrease leads to losses from money spent in transportation and production.
The general problem is new regulations may affect the supply chain management either positively or negatively. For instance, a regulation on increased tax levied on certain goods may lead to a company increasing production and distribution costs. With an increase in production and distribution, the price of the final product is also affected, thereby reducing the overall market of the product. The specific problem to be addressed is companies need to be prepared for new regulations and be regarded as potential risks (Wu et al., 2016).
The general problem is new technology may affect people involved in production and distribution in the supply chain management (Di Vaio & Varriale, 2020). New machinery can be effective in production by saving time. However, this may lead to many people losing their jobs. But on the positive side, the company will significantly reduce the costs involved in the production, thereby increasing profits. The specific problem is that new technology affects human resources by replacing them with machinery.
Arunachalam, D., Kumar, N., & Kawalek, J. P. (2018). Understanding big data analytics capabilities in supply chain management: Unravelling the issues, challenges and implications for practice. Transportation Research Part E: Logistics and Transportation Review, 114, 416-436.
Di Vaio, A., & Varriale, L. (2020). Blockchain technology in supply chain management for sustainable performance: Evidence from the airport industry. International Journal of Information Management, 52, 102014.
Lambert, D. M., & Enz, M. G. (2017). Issues in supply chain management: Progress and potential. Industrial Marketing Management, 62, 1-16.
Wu, L., Yue, X., Jin, A., & Yen, D. C. (2016). Smart supply chain management: a review and implications for future research. The International Journal of Logistics Management.