Number One Financial Advisor South Africa Blogposts

Published Sep 19, 20
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The sequential combined method was utilized in this research study. This approach consists of either a quantitative and qualitative (quant-qual) research study or a qualitative and quantitative (qual-quant) research study. Combined approach research studies present a practical world view. With this technique diverse types of data are collected which result in an understanding of the research study problem (Creswell 2009:18): The quant-qual study begins with a broad survey in order to generalise outcomes to a population and then, in a 2nd phase, concentrates on qualitative, open-ended interviews to gather comprehensive views from participants.

To adjust the questionnaire material for the qualitative study, the products (or concerns) in the survey were categorised by the scientists to form the themes or subjects for the focus group conversations. A 3rd component in the type of readily available literature of generally supply chain industry associated reports and magazines were incorporated to compare the findings.

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The SASC members include mostly large freight owners and logistics company in South Africa. (Freight owners are involved in logistics activities for their own goods [freight], and the company use logistics services to other organisations.) These cargo owners and service suppliers are confronted daily with difficulties in the service environment that affect their efficiency, efficiency, customer care and eventually the competitiveness of the entire supply chain (Badenhorst-Weiss & Waugh 2014:285).

Nineteen (19) service environment threat aspects were determined and included in the questionnaire. The survey was talked about with the researchers and a statistical consultant and boosted several times before finalisation and was tested to make sure the validity of the instrument. The survey was conducted in 2013 among members of the SASC, the Chartered Institute of Logistics and Transport in South Africa (CILTSA) and the Transport Online Forum (Badenhorst-Weiss & Waugh 2014:285).

Follow-up emails were sent to increase the low action rate. Due to stringent research principles guidelines at the organization the researchers are connected to, the scientists might not use approaches such as further emails, putting pressure on the people to respond or provide incentives to increase the reaction rate. Therefore, sadly, only 51 functional actions were received.

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Despite the low response rate and the resultant predisposition it was decided to continue with the catching of the data, considering that the findings of the study formed just one of the inputs to the research study. The completed questionnaires were examined for disparities and omissions and the caught information was processed and evaluated using SPSS (Badenhorst-Weiss & Waugh 2014:285).

Naslund (2002) specified that logistics scientists likewise need to do qualitative studies: 'Furthermore, if we genuinely wish to establish logistics, to establish new theories and concepts, then we require to question our paradigms, methodologies and choice of methods.' The qualitative research study was carried out by ways of a focus group conversation - Best South Africa Acts South African.

A focus group is defined by Cooper and Schindler (2008) as: [t] he synchronised participation of a small number of research study individuals (typically 8 to 10) who engage at the direction of a mediator to produce data on a specific issue or subject, extensively used in explorative research studies and normally last 90 minutes to 2 hours (View our business opportunities africa near you).

704) According to Cooper and Schindler (2011:162), the sample design of a qualitative study can be non-probability or purposive and the sample size small. With non-probability or purposive sampling not all the individuals in the population will get an equivalent chance to be selected (Zikmund et al. 2013:392). This implies that researchers have the liberty to select participants subjectively, that is, each member of the population does not have a recognized possibility of being consisted of (Cooper & Schindler 2008:379). "But because the knock-on impact is felt in numerous layers in the supply chain, I believe there'll be quite a bit of Tier 1 to Tier 3 provider mapping post-COVID." Once producing companies have done the mapping, it may be clear that they're too reliant on particular providers or particular regions.

( It's just like consumers might have a back-up shop to get items they require.) "As COVID-19 began to rear its awful head, we began to feel the impact locally because of the physical stock that was coming out of the Far East," Linnell states. "That was a known danger that started to impact the supply chains for a great deal of companies in South Africa.

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So that was among the techniques." Under typical circumstances, it takes some time for making companies to onboard new suppliers. But in the world of COVID-19, some companies were so desperate to get stock that they were partnering with suppliers that put them at danger. Sometimes, there was negligence that triggered quality control concerns or straight-out fraud that cost companies (and governments) millions.

" For some of the pharmaceutical companies, there's clearly been a massive need for products (masks, ventilators, and so on). However they could not keep up with the need for what was needed so they were looking for numerous providers all over the location. Sadly, breakdowns in the procurement procedures were unavoidable." To prevent this kind of disruption throughout the COVID-19 pandemic, producing companies should do more detailed research into their suppliers.

It has to do with knowing who your suppliers are, what products or services they offer, and how reliant you are on them. When you have actually 'risk rated' them, you can put mitigating controls in place. "Look at numerous techniques for your different suppliers based upon products, services, and risk exposure," Linnell states. "If it's a crucial single source supplier to put it simply, I can just get a component from them and not from anybody else then normally we put in location service level arrangement clauses that specify that the vendor needs to make an alternate strategy to ensure services to the organisation.

Once they've provided that info, we can comprehend the more comprehensive impact." If a provider can't fulfill their agreement, due to COVID-19 or any other reason, it's essential to know this. Regrettably, numerous manufacturing business have an issue with reporting. They might sign up an occurrence however not have the ability to fully comprehend how it impacts the entire organisation (View our Enterprise Performance Management nearby) (My Governance South Africa).

" For example, if a producing company has a raw product concern, it tends to remain in that department. It doesn't get aggregated up or escalated as a risk. Worse, business are going back to archaic Excel-based reporting when they should be using advanced supply chain mapping software that can depict the interdependencies." Indeed, with all the advancements in technology from big information and synthetic intelligence to advanced analytics and the ' Internet of Things' now is a good time for companies to learn about the brand-new tools that might make things simpler throughout COVID-19 and beyond.