(Mt) – MGT 322 Saudi Electronic University Third Party Logistics Questions

View attached explanation and answer. Let me know if you have any questions.‫المملكة العربية السعودية‬‫وزارة التعليم‬‫الجامعة السعودية‬‫اإللكترونية‬Kingdom of Saudi ArabiaMinistry of EducationSaudi ElectronicUniversityCollege of Administrative and Financial SciencesAssignment 2Deadline: 16/04/2022 @ 23:59Course Name: Logistics ManagementStudent’s Name:Course Code:MGT322Student’s ID Number:Semester: IICRN:Academic Year: 1443/1444 HFor Instructor’s Use onlyInstructor’s Name:Students’ Grade:Level of Marks:Instructions – PLEASE READ THEM CAREFULLY• The Assignment must be submitted on Blackboard (WORD format only) viaallocated folder.• Assignments submitted through email will not be accepted.• Students are advised to make their work clear and well presented, marks may bereduced for poor presentation. This includes filling your information on the coverpage.• Students must mention question number clearly in their answer.• Late submission will NOT be accepted.• Avoid plagiarism, the work should be in your own words, copying from students orother resources without proper referencing will result in ZERO marks. No exceptions.• All answered must be typed using Times New Roman (size 12, double-sp) font.No pictures containing text will be accepted and will be considered plagiarism).• Submissions without this cover page will NOT be accepted.Assignment: 2Submission Date by students: Before the end of Week- 11thPlace of Submission: Students Grade CentreWeight:10 MarksLearning Outcome:1. Demonstrate an understanding of how global competitive environments are changing supply chainmanagement and logistics practice.2. Apply essential elements of core logistic and supply chain management principles.3. Analyze and identify challenges and issues pertaining to logistical processes.Assignment Workload:This assignment is an individual assignment.Critical ThinkingOutsourcing and offshoring initiatives can help an organization fine-tune its business model tobecome more resilient and profitable. At the same time, these initiatives present challenges.In today’s highly competitive, extremely variable, and dynamic environment, many firms areseeking solutions. Supplychainmanagementbecomesmore sophisticatedandthedifference between what firms want to achieve and what they can do in-house continuesto grow, firms begin to realize that doing the right thing becomes more interesting than doingeverything.Accordingly, they are becoming better focused and more specialized byoutsourcing and offshoring activities that are far from their core businesses. In many casesfirms decide to outsource this function in whole or in part to agents or third-party logisticsfirms.Using this concept of offshoring and outsourcing answer the following questions by taking anySaudi Local company or any Multinational company.Questions: Each Question Carrying 2 Marks.1. Define Third party logistics firms? Discuss its working procedure? (400-500 Words)2. Explain the motivational factors for going internationally? (400-500 Words)3. On what ground companies choose developing country’s location for offshoring? Useexamples. (Mention the country and decisive factors). (400-500 Words)4. Why do companies outsource? (Use example of any Saudi company along its objective andscope for outsource). (400-500 Words)5. Assess the reasons for using third party logistics service in Saudi Arabia? Using examples,Explanation regarding their logistics performance and priorities. (400-500 Words)The Answer must follow the Key word/ outline points below:•Outsourcing ,offshoring ,Third Party logistics•Their Main functions•Motivational Factors /Drivers•Any local example•Reasons with suitable Examples•ReferenceNote: You can support your answer by reading chapter 4 of your book.You can use secondary source available on internet. Please use APA-style referencing.Answer 1.Answer 2.Answer 3.Answer 4.Answer 5.Question 1LaGore (2019) defines Third-Party Logistics (3PL) as companies that offer outsourced logistics andsupply chain services solutions to businesses in need. A 3PL offers services encompassing anythingthat touches on the management of one or several facets of procurement and fulfillment activities.Bernard (2020) adds that 3PL carries a wider meaning in enterprises that it applies to any servicecontracts where storing or shopping of items is involved. A 3PL company picks packs, and shipsproducts on behalf of another company and therefore serves as an essential link betweenmanufacturers and consumers.Rheude (2020) avers that when order fulfillment functions runsmoothly, business consumers will be delighted and the business is likely to grow and succeed.While a 3PL service can be a single standing provider, such as warehouse storage or transportation, itcan also be a system-wide chunk of services able to handle entire supply chain management.According to Bernard (2020), the emergence of 3PLs can be tr back to the early 1970s. The term3PL was first used to pinpoint intermodal marketing companies in the transport industry. Before theemergence of 3PLs, only shippers and carriers had featured in transportation contracts. The idea of3PLs became prominent in the 1990s and more consultants became interested, likely because it wastied to evolving technology and the rise of the internet. 3 PL was later defined legally by theConsumer Product Safety Improvement Act of 2008 as “a person, who solely receives, holds orotherwise transports a consumer product in the ordinary course of business but who does not taketitle to the product.” The demand for 3PLs has increased as a result of the growth in online sales andincreased customer plea for faster delivery and lower pricing. The growth of tracing technology suchas global positioning systems (GPS) and radio frequency identification (RFID) has led to theenormous growth in the use of 3PLs as such technologies offer extended supply chain visibility.Third-Party Logistics work by taking the consumer ordering or transportation role on behalf ofcompanies at a fee. The manufacturing company would make production, and because it does notwant to handle the shipment procedure, it uses a fulfillment center to conduct processing of onlineorders. The company hires a trucking carrier to pull its freight. In this case, the fulfillment center andthe carrier companies act as 3PL providers to complete the process of ordering and shipment. Acompany that contracts a 3PL provider can do so only when the need arises thus saving on costs andfocusing more on production effectiveness.Question 2The growing desire for business internationalization has been attributed to the accelerated growth inglobalization. Increased globalization has enabled companies to stage activities in other countries,penetrate new markets, and gain a foothold in fresh markets. Zekiri (2016) asserts that “The upwardtrend of globalization and internationalization of companies has caused businesses to continuedeveloping and seeking ways in which these companies will exceed the boundaries of their domesticmarkets and to compete in other international markets” (pg. 182). The enabling environment in theglobal sphere is among the key motivating factors for companies to internationalize. The economic,social, and political environment in most countries across the globe encourages businessinternationalization for the linked benefits.Business internationalization can be a recipe for growth and increased profitability. Companiespenetrate global markets in search of growth opportunities and expansion. Opening new branchesand offshoring services in new markets help companies to broaden their customer base, increasesales and revenues. Business organizations seek markets in countries with stable macroeconomicconditions and high sustainable growth rates to boost income and enhance business stability.According to Cox and Weingast (2018), a close link exists between economic growth and politicalstability. Organizations seek to set up operations in countries where there is peace and tranquility toincrease chances of success because in such countries economic growth is usually on topnotch speed.Business operators in war-torn zones internationalize orations to avoid drawbacks of slow economicgrowth and risk of loss in domestic markets. The business climate in a country is a fundamentalpredictor of investment from foreign firms. Global markets with high levels of stability encourageinvestment from international firms.Reduced labor costs in foreign markets motivate business organizations to internationalize.Organizations constantly look forward to hiring the most skilled and well-trained employees, someof which might be significantly expensive to acquire in domestic markets. Moving operations to newmarkets help organizations to find labor at reduced costs and thus reduce production costs. Zekiri(2016) explains that high labor costs increase the cost of production and the resulting cost ofproducts which limits the flow of Foreign Direct Investment. Companies can achieve an overallreduction in production cost through accessing cheap labor enhanced by global efficiency inproduction. Other notable factors that prompt businesses to internationalize include the emergence ofnew markets in the developing world, saturation of domestic markets prompting operators to opt forless competitive markets, and tax incentives by foreign governments for setting up manufacturingplants.Question 3Companies opt for offshoring for various objectives that aim at benefitting shareholders, investors,employees, and the long-term financial health of a business. Bandyopadhyay et al. (2017) observethat rapid technological growth has been a key driver of the growth in offshoring to developingmarkets. The penetration of technologies such as automation in developing countries has beenparamount to the reduction of offshoring costs. Offshoring has been hyped as a means of achievingcost reductions and maximizing profits because companies are able to get cheap labor fromdeveloping countries.However, different companies benefit differently from offshoring andtherefore, operators make independent decisions when handling matters offshoring. According toBandyopadhyay et al. (2017), money is the prime factor that companies in the United States considerwhen choosing to relocate businesses to countries such as India and the Philippines. The enormoussavings in the labor force is the primary motivator for American companies to move operations todeveloping countries. Additionally, factors such as lower taxes, reduced operational andtransportation costs motivate US companies to invest in the Philippines. Cost reduction ensures thatparent companies have reduced expenditure and can free up some financial resources to use in localoperations. Besides, the companies are able to provide profits to investors and shareholders and thusmake the company more productive, efficient, and profitable.The cost of manufacturing in most developed countries is high due to the increased cost of rawmaterials, labor, equip…

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