OMGT 2243:
\nGlobal Trade Operations
\nAssessment Task-3
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\nAssignment Task3- 50%
\nThe purpose of this assignment is to understand current challenges to international trade in the context of COVID_19 pandemic\/ Russia-Ukraine war and to identify the practices to reduce or eliminate the challenges.
\nRequirements
\nYou will be assigned one of the following challenges (see appendix for more description on challenges) on Friday Week 12 and expected to submit the assignment by Sunday Week13 (June 5th 2022).
\n1. Single-country sourcing
\n2. Reshoring
\n3. Just-In-Time
\n4. Export market concentration
\n5. Logistics disruptions
\n6. Supply chain transparency
\n7. Technology adoptions
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\nReport Structure:
\nFollowing is the suggested report structure. You are allowed to customise using headings specific to the topic (sample nursing essay examples by the best nursing assignment writing service) and subheadings.
\n\u2022RMIT Assignment Cover Sheet
\n\u2022Title\/Name\/Student ID\/Tutorial (time)
\n\u2022Executive Summary – 200-250 words
\n\u2022Table of Contents – 50 – 75 words
\n\u2022Introduction – 150-200 words
\n\u2022Background of the challenge – 250 – 325 words
\n\u2022Effects on Australian trade – 450-550 words
\n\u2022Recommendations – 450-550 words
\n\u2022Conclusion – 150-200 words
\n\u2022References (RMIT Harvard style only) – 300 – 350 words
\n\u2022Appendix
\nWord Limit:
\nYour assessment should be in the range of 2,000 – 2,500 words (inclusive of front pages,
\nexecutive summary, TOC, figures and tables, references and appendices). If the number of words is out of the word limit, the marks awarded will then be reduced by 10% per 200 words. \u2022 RMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\nMarking guidelines:
\nFollowing provides an overview of marking guidelines. For more details, check the rubrics in the appendix.
\n\u2022 Executive summary- 10pts
\n\u2022 Introduction-5pts
\n\u2022 B ackground- 15pts
\n\u2022 Effects-20pts
\n\u2022 Recommendations-20pts
\n\u2022 In-depth analysis-15pts
\n\u2022 Conclusion-5pts
\n\u2022 Clarity\/style-5pts
\n\u2022 References-5pts
\nReferences:
\n\u2022 Adequate up-to-date references (not older than 5 years) to support your arguments.
\n\u2022 RMIT Harvard referencing system should be used
\n\u2022 References – You must include at least 15 references, i.e. Journal Article, Case, Corporate\/Business\/Industry\/Government Report, White Paper etc. It is expected that at
\nLleast 50% of the references are from journals. *do not use Wikipedia or Investopedia*
\n\u2022RMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\nAcademic integrity
\nhttps:\/\/www.rmit. edu.au\/ students\/student-essentials\/assessment-and-results\/academicintegrity
\nSimilarity score:
\nPlagiarism is a breach of academic integrity so is not allowed at all. Any single instance in which a sentence has been lifted from somewhere without being identified as a quote is too much plagiarism – whether the Turnitin score is 5% or 50%.
\nThe Turnitin similarity score is sometimes high because it picks up similarity in the cover sheet, the copying of assessment questions, and in references even when they acknowledge quotes. So the main thing is to check that you have not plagiarised. You can use Turnitin as a learning tool to help you develop basic academic skills and values including referencing, paraphrasing, and academic integrity.
\n? RMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\nResearch Writing
\n(Extractedfrom Chapter 4 \u201cEssay writing\u201d College of Business: Guidelinesfor referencing and presentation in written reports and essays)
\n\u2014 Read the instructions, relating to your assessments as set down in your Canvas
\n– Analyse the challenge
\n– Brainstorm – what you know\/found about the topic (sample nursing essay examples by the best nursing assignment writing service)
\n– Starting your research
\n– Mind Mapping
\n– Focus your research
\n\u2022 revisit the question
\n– Draw up a detailed plan
\n\u2022 draft out framework and slot in information
\n– Write it out!
\n– Ensure adequate in-text citations –
\n\u2022 RMIT Harvard Style of referencing only – Check for logical discussion
\n\u2022 Does it make sense?
\nDoes the focus of discussion per paragraph lead to one after
\nanother?
\n? RMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\n1. Single-country sourcing
\nSourcing is one of the most vital aspects that determine whether a company succeeds or fails. Until 2000\u2019s, organisations are sourcing from the third-world countries where the labour and resource costs are low. This have Helped them to keep the expense under control and achieve competitive advantage. However, over the years some of these countries have developed competencies and became the leaders in exporting the products to several countries across the world. Over the time, Australia became reliant on one country for most of the imported products. The negative consequences of high dependence on a single country became evident during the crisis. Against this background it is important to investigate challenges associated with single-country sourcing for Australia. Some examples of singlecountry sourcing:
\n\u2022 India for vaccines
\n\u2022 China for electrical equipment
\n\u2022 Fertilizers for Russia
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\n2. Reshoring
\nCOVID-19\/ Russia- Ukraine war highlights the challenges related to shortage of essential products such as pharmaceutical products, personal protective equipment, food products, petroleum products, and electronic equipment resulted from the dependence on imports. These dependencies have forced Australian Federal government to consider it as a matter of national security and to develop \u201csome level of sovereign capability\u201d to safeguard the supply of products. Restructuring supply chains through reshoring is considered as a potential strategy to build nation\u2019s capacity and to minimise the impacts of future disruptions. Russia- COVID-19 The Ukraine war highlights the difficulties associated with the scarcity of essential products such as pharmaceuticals, personal protective equipment, food, petroleum products, and electronic equipment as a result of the country’s reliance on imports. These reliances have compelled the Australian Federal Government to consider it a matter of national security and to develop “some level of sovereign capability” to ensure product supply. Restructuring supply chains through reshoring is seen as a potential strategy for increasing national capacity and mitigating the effects of future disruptions. Despite the prominence given to the reshoring, it is not without the challenges. Against this background it is important to investigate challenges associated with reshoring manufacturing to Australia. Currently, Australian government is considering reshoring
\n\u2022 Innovative pharmaceutical drug manufacturing
\n\u2022 Recycle manufacturing
\n\u2022 Oil refining
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\n3. Just-In-Time
\nJIT (Just-In-Time) a Japanese operations management technique based on the Toyota Production System, used to eliminate waste, align production to demand and have suppliers deliver smaller amounts of materials more frequently. Underlined by JIT philosophy, any excess inventory is considered as an enemy impacting the financial performance. Since its introduction, JIT has conquered the world. Today supply chains are so lean that they are not able to cope slight changes to demand and supply. This became evident during the COVID-19 crisis\/ Russia-Ukraine war and prompted organisations to rethink JIT practices in supply chains. Against this background it is important to investigate challenges associated with JIT in Australian context. Following are some of the cases where the consequences of JIT is felt:
\n\u2022 Product shortages in department stores and retailers – not related to demand spikes (JB Hi Fi, Office works)
\n\u2022 Manufacturer product lines are halted
\n\u2022 Timber shortages impacting construction industry
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\n4. Export market concentration
\nExport market concentration is a degree to which a country relies on a limited number of partners as markets for its exports. Country that exports only one product to other country has perfect export concentration. On the other hand, country that exports large number of products with one partner indicates dependency and heavy reliance on one country for export income. Changes in foreign policy, fluctuations in currency exchange, political instability and other challenges highlights the risks associated with export market concentration. Against this background it is important to investigate challenges associated with market concentration of Australian exports. Incidents that highlighted export market concentration:
\n\u2022 Barley exports to China
\n\u2022 Tourism based on Chinese citizens
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\n5. Logistics disruptions
\nTo slow the spread of coronavirus and to protect lives, one-third of the world are under lockdown, border closures, or movement restrictions. This have blocked the movement of finished goods, raw materials, and people. On the other hand, restricted use of air space in Russia and Ukraine has led to changes in the transportation network. As a result, one or more supply chain process such as sourcing, production, and distribution came to halt. Against this background it is important to investigate how logistics disruption have affected the international trade in Australia.
\n\u2022 International air freight routes are not operating
\n\u2022 Stringent maritime restrictions
\n\u2022 Increase in logistics costs
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\n6. Supply chain transparency
\nCOVID-19 pandemic\/ Russia-Ukraine war has caused major disruptions in supply chains forcing managers to act swiftly to mitigate the risks. The speed and the efficacy of the action taken by the manager depends on the visibility in the supply chain. Too often, managers are leading in blind. In the past, lack of transparency in a company\u2019s supply chain with no visibility to suppliers is considered to provide competitive advantage as no one is unable to build identical products. However, this has led to severe consequences as there is not enough accountability and data transparency to show how best to improve supply chains. In Australia, lack of transparency in supply chain became a major issue as many Australian firms are at the far end of the supply chain. Too many brands in Australia are exposed as unreliable, wasteful, environmentally unfriendly, or unethical. Against this background, it is important to investigate the transparency issues in supply chains.
\n\u2022 Interruptions to supply
\n\u2022 Sustainability issues
\n\u2022 Forecasting issues
\nRMIT
\nUNIVERSITY
\nRMIT Classification: Trusted
\n7. Technology adoptions
\nCOVID-19 pandemic\/ Russia- Ukraine war has caused major disruptions in supply chains forcing managers to act swiftly to mitigate the risks. Lack of technology adoption is holding back managers to react and overcome challenges in international trade. Australia is not an exception, rather Australian businesses are impacted by slow or lack of technology adoptions. Particularly, Industry 4.0 technologies such as blockchain, IOT, 3D printing have the potential to profoundly transform the way trade is done, who trades and what is traded. The advance of digital technologies can bring changes in the structure of trade. Beyond easing trade in goods, digital technologies can facilitate services trade and enable new services to emerge. Hence, it is important to investigate the challenges related to the lack of technological innovations to international trade and how to overcome. Some potential challenges include:
\n\u2022 Unknown upstream suppliers
\n\u2022 Lack of real-time information
\n\u2022 Higher administrative costs.
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\nUNIVERSITY
\nRMIT Classification: Trusted
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