Supply Ecosystems Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 10521_9789813223073_TP.indd 13/8/18 4:29 PM b2530 International Strategic Relations and China’s National Security: World at the Crossroads This page intentionally left blank b2530_FM.indd 01-Sep-16 11:03:06 AM Supply Ecosystems Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Douglas Kinnis Macbeth University of Southampton, UK World Scientific NEW JERSEY • LONDON 10521_9789813223073_TP.indd • SINGAPORE • BEIJING • SHANGHAI • HONG KONG • TAIPEI • CHENNAI • TOKYO 13/8/18 4:29 PM Published by World Scientific Publishing Co Pte Ltd Toh Tuck Link, Singapore 596224 USA office: 27 Warren Street, Suite 401-402, Hackensack, NJ 07601 UK office: 57 Shelton Street, Covent Garden, London WC2H 9HE Library of Congress Cataloging-in-Publication Data Names: Macbeth, D K (Douglas K.), author Title: Supply ecosystems : interconnected, interdependent and cooperative operations, supply and contract management / Douglas Kinnis Macbeth (University of Southampton, UK) Description: New Jersey : World Scientific, [2018] | Includes bibliographical references and index Identifiers: LCCN 2018012720 | ISBN 9789813223073 (hc : alk paper) Subjects: LCSH: Business logistics | Production management | Industrial procurement Management | Industrial management Classification: LCC HD38.5 M33 2018 | DDC 658.5 dc23 LC record available at https://lccn.loc.gov/2018012720 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Copyright © 2019 by World Scientific Publishing Co Pte Ltd All rights reserved This book, or parts thereof, may not be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage and retrieval system now known or to be invented, without written permission from the publisher For photocopying of material in this volume, please pay a copying fee through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA In this case permission to photocopy is not required from the publisher For any available supplementary material, please visit http://www.worldscientific.com/worldscibooks/10.1142/10521#t=suppl Desk Editors: Anthony Alexander/Karimah Samsudin Typeset by Stallion Press Email: enquiries@stallionpress.com Printed in Singapore Alex - 10521 - Supply Ecosystems.indd 19-07-18 10:33:57 AM “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management About the Author Douglas Macbeth recently retired as Professor of Purchasing and Supply at University of Southampton Management School He has worked in two other UK universities and has taught in Europe and America He is the Founder of the consulting firm SCMG Ltd., which commercialises early research into buyer–supplier relationships He was also the deputy director of the Southampton Marine and Maritime Institute collaborating across many disciplines He takes an applied view of academic research and has always worked actively across the academic/practitioner boundary He is a Lead Academic on FutureLearn Massively Open Online Course (MOOC) on Contract Management: Building Business Relationships, commissioned by UK Cabinet Office and partnering with Civil Service Learning and IACCM, which runs twice a year for 15,000 learners He is the author of six books, numerous articles and lead or co-lead in many consultancy and research projects and is a supervisor for a number of successful PhD candidates v b3235_FM.indd 14-08-2018 06:30:02 b2530 International Strategic Relations and China’s National Security: World at the Crossroads This page intentionally left blank b2530_FM.indd 01-Sep-16 11:03:06 AM “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Acknowledgements This book is dedicated to Ann, Graeme, Chris and Lisa Ann has supported me and my career in ways too numerous to list, but sincere thanks are due World Scientific Publishing have been a joy to work with I have also worked with many interesting people both as colleagues in academia and in business as clients and as co-investigators in research and teaching projects as well as international students in a variety of settings I learned from them all and also owe them a great debt of gratitude for allowing me to share my experiences Some of that learning is captured in this book, and I hope it properly reflects what I learned from these interactions vii b3235_FM.indd 14-08-2018 06:30:02 b2530 International Strategic Relations and China’s National Security: World at the Crossroads This page intentionally left blank b2530_FM.indd 01-Sep-16 11:03:06 AM “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Contents About the Authorv Acknowledgementsvii List of Figuresxiii List of Tablesxv Introductionxvii Chapter 1 Global Business Context 1.1 Financial and Strategic Objectives 1.2 Business Life Cycle 1.2.1 Start-up 1.2.2 Existing 1.2.3 Static 1.2.4 Under threat 1.2.5 Time horizon 1.2.6 Short-term survival 1.2.7 Medium-term growth 1.2.8 Trade sale or Initial Public Offering (IPO) 1.3 Ethical Stance 1.4 Citizenship 1.5 Political Sensitivities 1.6 How to Compete 1 10 10 11 13 15 16 17 ix b3235_FM.indd 14-08-2018 06:30:02 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Glossary 209 time to build but can be lost very quickly if the organisation behaves in a way which then does not live up to this standard of performance The risk is that formerly loyal customers and suppliers will refuse to business with the organisation which has failed to live up to its promises Losing your reputation for being a trustworthy party can destroy businesses very quickly and recovery (if possible) will be expensive and time consuming Risk Attitude It represents attempts to measure the extent to which individuals (and their organisations) are comfortable at certain levels of risk An entrepreneur is expected to operate with a more positive attitude to risk than someone who is just looking for a good job with defined prospects Risk Exposure This is a calculation of the potential risks multiplied by the estimated probability of their occurrence Risk Premium All business operates under conditions of risk, but the more the level of risk the more the person taking the risk expects to be rewarded for taking the risk This is called the risk premium Robust Design This is based on the statistical design of experiments approach but applied to product design The various factors which impact the achieved quality levels are evaluated to find those that must be controlled very closely and to make the overall design less subject to other noise factors which might complicate control of the process Rules of Origin Provides a customer with information on where an item has been produced They also provide details to make customs charges appropriate These rules also protect brands against unfair competition if the item location details are protected For example, Champagne can only come from b3235_Glossary.indd 209 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 210 Glossary that region of France Similar products using similar or the same grapes and produced in the same ways might be described as ‘Champagne like’ but not as Champagne from another region Self-seeking with Guile This is one of the behaviours of a person being opportunistic They are looking to better their possible results by hiding information, lying or not telling the whole truth or other devious ways of operating with guile to tilt the odds of winning more in their favour SERVQUAL Model This model initially defined the processes of ensuring that service quality levels were as expected by customers Services are much more about perceptions and are therefore much more difficult to control compared to physical measurements in the product world The model describes five gaps between different stages of the overall process at which misunderstandings or poor performance against plans can cause problems Since many organisations produce both products and services, it is good to think of this model alongside the physical aspects of other total quality approaches Single Sourcing When there are choices of supplier for a given need but the buyer chooses to only use one of them, this is single sourcing It is dangerous since there is no backup if something goes wrong with this supplier, but it can aid the consistency of quality supplied and allow for the building of preferred relationships It does demonstrates the effects of lock-in however Specification Limit As designers specify the dimensions of some item they recognise that they need to allow for practicalities of production and therefore they specify a range of acceptable values around the nominal one These form limits in the specification within which a result will be deemed to be of acceptable quality The upper and lower limits around the mean value form the basis for statistical process control as part of a quality assurance approach b3235_Glossary.indd 210 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Glossary 211 Spend Analysis Spend analysis creates the information to understand the 80:20 rule in particular circumstances to show how value is distributed and to aid the allocation of scarce resources to where they can have the biggest impact Sole Sourcing This is a supply situation where a supplier has a monopoly of some commodity or service such that a buyer has no choice but to accept the terms offered to them by the supplier Most buyers will try and find, or help create, alternative suppliers just to break the power hold a monopoly supplier can exert on a market Standardised An organisation can make a strategic decision that they will only offer a controlled number of variants of their goods (more difficult for services) These form the standardised list from which customers buy and will not be changed to satisfy a customer request This is efficient for the supplier but might limit the choice for the customer Straight Re-buy This occurs when a customer wishes to buy the exact same item or service The price might change but the specification has not Sub-optimisation This is a feature of systems thinking where the efficiency of a sub-unit can be made very high but at the higher systems level the result is less good The optimisation locally has resulted in sub-optimisation at the total system level Systems Thinking All life forms and businesses are complex systems which contain essential sub-systems which perform needed sets of activities and have to co-exist and mutually support each other so that the overall system can survive and prosper In addition, all systems are themselves sub-systems of larger entities and it is these interconnections and interdependencies which define b3235_Glossary.indd 211 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 212 Glossary how our planet will survive (or not) Systems thinking recognises the scaling effect to larger or smaller systems and allows us, through the use of generic descriptions, to describe these in terms that capture their essential features So, all systems use input resources and transform them into desirable and waste outputs and by comparing the outputs with the resources used as input and to the management of the transformation processes, we have the basis of measurement and control opportunities and the needed control actions to obtain the goals of the systems Open systems accept input from their environments, while closed ones not Too many businesses behave as if they are somewhat closed in that they not fully reflect on the effects they have on the larger systems or indeed recognise the effects that other systems can have on their own system effectiveness Target Cost In traditional thinking, we add a profit margin to our costs to set a price which we offer to the market for our goods or services However in the negotiation to reach an agreed price, the only factor that is being considered is the profit margin where the customer is trying to reduce the supplier’s margin as far as possible and the supplier is trying to get the highest price in order to maximise their profit margin Target costing works in reverse It accepts that price is set in the market and so abstracts from the anticipated price an acceptable profit margin to obtain the target cost This is the cost which must be achieved to be competitive in that market In this situation, the customer and the supplier can now work together to reduce the target cost so that the customer can compete in the final marketplace and the supplier gains a sufficient profit margin so that they can continue to invest in their businesses to be an effective partner to their customer over the longer term Technology Push For radically different technologies or service concepts, current customers have no frame of reference or experience to help them understand what impacts a new innovation might have or if they would use the new market offering if it were to be produced However, the technical experts in the b3235_Glossary.indd 212 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Glossary 213 supplying company can understand their own concept and how it might be wanted by customers, and so a decision to innovate in this way is essentially a gamble on whether the technologists were right and also if the customers might be persuaded to also welcome the item onto the market and to pay for it The technology is pushed onto the market in the hope that customers will buy it It is inherently high risk, but can be massively disruptive of current market situations if the innovation is a market success Total Quality Management (TQM) Total quality recognises that quality depends on getting everything right ideally the first time It is a whole-organisation issue and crosses into customers and suppliers as well It is best thought of as a journey and attitude to always strive to be better and to involve all of the people in making this a reality and a core value of the organisation Trade-offs A trade-off describes the situation where there are choices, but if we move in one direction to make something better then we usually make the other choice worse For example, in designing a vehicle door we want the door to be heavy enough to carry all of the internal equipment and provide impact protection to the occupants but we not want it to be so heavy that it is difficult to open the door when the vehicle is parked on an adverse hill Some trade-offs are fixed at the current level of technology but some are in our minds and can be challenged by new thinking Toyota could not afford the high stocks and storage space needed by their car competitors at the time, which they needed because their system built cars in large production runs of the same type Instead, Toyota designed a system to reduce stock holding and space (through Just in Time) which allowed them to efficiently produce in very small production runs, that is one at a time Transaction Cost Analysis (TCA) TCA recognises that market exchanges incur costs on both sides of the transaction to ensure factors such as ownership, truthfulness of b3235_Glossary.indd 213 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 214 Glossary statements, reliability of promises, capability and control are as the other party describes them In addition, costs are incurred to monitor these issues in the other party’s behaviours, especially if one believes the other party is likely to try and take advantage (behave opportunistically) in some way which favours their outcomes over one’s own If the costs of these market transactions are perceived to be too high, then there is a tendency to avoid them by, in some way, internalising the features we might otherwise have traded for in the market It is part of the Make or Buy decision Transnational The transnational organisation tries to get the benefits of local responsiveness to market changes while also gaining the benefits of global scale and support without expensive duplication of resources For such organisations, the market is truly global and decisions will be made with this awareness Such companies can have more financial size than some of the countries which host their subsidiaries Universal Basic Income This is funding provided by government to give to all citizens a set living income so that they can be full members of the society, spend their money as they wish and so keep money circulating in the economy Its proponents argue that it will be cheaper than social benefits to administer while avoiding the stigma of the benefit process In a time of high numbers of left-behind populations due to market and technological changes, this would make society fairer and allow people to develop their own interests and to help others in making a contribution to society while the economic processes of money circulation could still to take place Unknown, Unknowns Some factors which might influence the challenges facing an organisation will be known, but their expected value might not be For example, it may be known that customers always arrive at the store but we just not know when or what they will buy These are known, unknowns However, much more difficult to deal with are things of which we are completely unaware b3235_Glossary.indd 214 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Glossary 215 and whose impact, when they happen, is also unknown These unknown, unknowns can often deliver potentially catastrophic impacts but were not foreseen by anyone; worse still, no one was even looking for them Upside Risk Like a downside risk, the outcome is unexpected, but on the upside this covers a result which is better than expected and can be taken advantage of, once its causes are understood Value in Transfer A trade is an exchange of different things of value to the parties in which the ownership of the item transfers from the seller/supplier to the buyer This is value in transfer Value in Use This is when ownership is not transferred from the supplier to the customer, but the agreement paid for by the customer is to have access to and use of the item or the service In services, it is always value in use since the resources used by the supplier are never transferred to the customer but what is paid for is the benefit to the customer of using the supplier’s resources for the time agreed Value Proposition A supplier to a potential customer tries to understand what the customer does, or might be persuaded to, want to buy and then creates an offer which captures this value to the customer in a proposition That is a statement that says ‘if you buy this item, you will benefit in the following ways…’ This value proposition is then evaluated by the customer (often by comparison with other supplier propositions) before making the decision to buy or not Only if the buy decision is made will there be an exchange and a trade, and only then does the supplier have a return on their investment Venture Capital Funds These are financial fund businesses which act in a similar fashion to business angels but on a larger and more distributed set of growing companies b3235_Glossary.indd 215 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 216 Glossary They are more financially driven and not usually expect to be involved in the operational management of the growing business They expect to make a profit from their investments and will choose companies carefully rather than simply spreading investments over a very diverse portfolio, which a normal investment fund might Vertical Integration A fully internally organised set of activities in which all of the factors of production needed by the organisation are owned and operated by the organisation In other words, such a system does not depend on buying anything from outside suppliers For example, Henry Ford’s model T was produced using supplied raw materials, through manufacture, to distribution to dealers, who were all part of the Ford organisation Modern products and services are widely believed to be too complicated for any one organisation to be able to be the best solution provider in all of its aspects so some buying from outside is more likely Zero-hour Contracts In, for example, retail businesses it is impossible to forecast in detail when customers will come through the door Over time, certain patterns can be discerned but it is often not good enough for the store manager to match customer demand with numbers of sales people to optimise sales support To solve this personnel planning problem, employment contracts can offer conditions of employment which not guarantee any actual work times In this way, the manager does not have to pay people to stand idle when no customers are in the store However, the managers require the people to be on call to come into work when the manager decides s(he) needs them These are Zero-hour contracts, which solve a staffing problem for the managers but create very uncertain payment and time management problems for the employees on such contracts 3D Printing This production technology uses the design-generated digital functional specifications to drive a machine that builds up the design realisation through deposition of layers of a variety of materials (akin to an ink on b3235_Glossary.indd 216 14-08-2018 06:30:16 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Glossary 217 paper, printing process) like plastics, concrete, metal-like materials as well as biological materials Complex, near to final form, items can be produced relatively slowly and in small production quantities It can reduce or remove the need to assemble parts and sub-assemblies in manufacture, but this might make some forms of recycling more difficult For some solutions, this might remove much of the supply chain complexity involved in traditional processes 80:20 Rule It is widely observed in many populations that only 20% of the total number in the populations account for 80% of the total value of the whole population While this is even more extreme in many personal wealth distributions, it is used to identify important customers and suppliers in business and to concentrate efforts around these important clients b3235_Glossary.indd 217 14-08-2018 06:30:16 b2530 International Strategic Relations and China’s National Security: World at the Crossroads This page intentionally left blank b2530_FM.indd 01-Sep-16 11:03:06 AM “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Index A Additive Manufacturing, xxi, 89 AIDS, 53 Anglo-Saxon Approach, 44 Anglo-Saxon Capitalistic Model, 174 Artificial Intelligence, xxi, 27, 29, 88, 175 Asimov’s Three Laws of Robotics, 171 Autonomous Vehicles, xxi, 170 Business Start-up, Business-to-Business (see also B2B) Relationship, 10, 41, 44, 105, 123, 145, 169 Buyer–Supplier Relationships, 44 Buying Centre, 138–139, 142, 149, 190 C Check Position, 158 City Car Variants, 56 Civil Law, 151, 191 Clarke, C Arthur, 163 Co-Creation, 57, 152, 191 Commercial Loans, 11 Common Law, 151, 191 Communicate Position, 158 Compel Progress, 158 Contract Award Notice (see also CAN), 115 Contract Notice (see also CN), 114, 128 Corporate Social Responsibility (see also CSR), 16, 37, 97, 174, 191 B Background Theory, xix, 39 Basic Operations System Diagram, 86 Black Swans, 67 Blockchain 2.0, 168 Born Global, 53, 189 Brexit, 16 British Merchant Marine Transportation Systems, 46 British Royal Navy, 46 Brundtland Report, 38 Business Angels, 12, 190, 198, 215 Business Managers, 7, 109 219 b3235_Index.indd 219 14-08-2018 06:30:33 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 220 Index Cost–Benefit Calculations, 51 Costing Approaches, 23 Costing Impacts of Decisions and Consequential Spending, 26 Creative Destruction, 172 Crosby, Philip, 76 Customer Trust, 158 Customer’s View of Suppliers, 118 Customer–Supplier Relationship, 116 D Data Mining, 27, 86, 188 Degrees of Freedom, 26–27, 193 Deming, W Edwards, 76 Design and Contract Management, 178 Different Relationship Types, 124 Direct Procurement, 116–117, 194, 198 Do or Trade, 58, 201 Downside Risk, 96, 155, 195, 215 Dyson, James, 19 E Enterprise Resource Planning (see also ERP), 37, 90, 195 EU Global Data Protection Regulations, 129 EU Procurement Rules, 112–113, 130, 154 European Article Number (see also EAN), 128 Ex Works Price, 135 F 1977 Foreign Corrupt Practices Act, 154 Financial and Strategic Objectives, xix, b3235_Index.indd 220 Financial Support Provider(s), 10 Ford, Martin, 171 Foreign Direct (Inward) Investment (see also FDI), 50, 196 G Garbage In Garbage Out (see also GIGO), 28, 82, 197 Gatekeepers, 139 Gattorna’s Behavioural Logic of Supply Chains, 101 Gattorna’s Cultural Logic of Supply Chains, 104 Gattorna’s Market Logic of Supply Chains, 102 Gattorna’s Strategic Logic of Supply Chains, 103 Genichi Taguchi, 79 Glenn, John, 116 Global Business Context, xix, Global Trade Item Numbers (see also GTINs), 128, 197 Globalisation, xix, 9, 45–48, 74, 172, 177 Goods and Services, 56, 135, 137, 153, 173, 194 Grease Payments, 154, 198 Gross Domestic Product (see also GDP), 2, 164, 172–173, 175 H Health Check, 158 House of Quality Generic Model, 81 House of Quality Logic, 104 House of Quality, 80, 198, 207 I I, Robot, 170 Indirect Procurement, 116–117, 198 14-08-2018 06:30:33 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Index 221 Industrial Revolutions, 175 Infant Mortality, Initial Public Offering (see also IPO), 11–12 Institute for Collaborative Working, 161 Intellectual Property (see also IP), 98, 150–151, 189, 191, 196, 199 International Association of Contract and Commercial Management (see also IACCM), 142, 160 International Marketing and Purchasing (see also IMP) Group, 44 Invitation to Tender (see also ITT), 114 J Joint Venture (see also JV), 98, 123–124, 200 Juran, Joseph, 76 Just in Time System, 62, 201 K Key Performance Indicators (see also KPIs), 158 L Lean Production, 91, 94, 104, 201 Lean Thinking, 92, 94, 178 Lego Brick Concept, 72 Life Cycle Supply Requirements, 107 Logistics Hub and Spokes, 133 Lower Specification Limit, 78 M Make or Buy Decision, xx, 58, 214 Market Logic, 101–102, 104 Market Pull, 18, 202 b3235_Index.indd 221 McKinsey 7-S Strategic Approach, 22 McLean, Malcolm, 133 Modern Slavery Act 2015, 38 Modularisation, 71–72 N National Health Service, UK, Normal Distribution, 67, 76–77, 189 O Operations Management, xix, 70, 85 Order Penetration Point, 61 Order Visibility Point, 63, 204 Order Winners and Qualifiers, xix, 19–20 Order Winning Criteria, 32 Organisational Location of Purchasing Activity, 110 Ownership, 1–3, 29, 36, 40, 55, 58, 96, 100, 134, 152, 165, 169, 173, 196, 206, 215 P 3D Printing, 30, 89, 164–165, 216 Pareto, Vilfredo, 173 Pareto’s Rule or Law, 117 Pork–Barrel Politics, 112 Portfolio Analysis, 11 Power by the Hour Approach, 55, 166 Pre-Qualification Questionnaire (see also PQQ), 114 Principal and Agent Theory, 6, 206 Prior Information Notice (see also PIN), 114 Process Capability, 33, 79, 206 Process Variations and Sigma, 78 Procurement and Supply Chain, 25, 30 14-08-2018 06:30:33 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 222 Index Product Definition, 137 Public Sector Organisations, 112 Purchase to Pay, 145, 207 Q Quality Function Deployment, 80 Quality Loss Function, 79 Quality Performance, 55, 71, 83, 206 Quartz Digital Watch, R Radio Frequency Identification (see also RFID), 128, 134, 197 RATER, 83 Red Blue Payoff Matrix, 181–182 RED/BLUE Game, xxi, 181 Reich, Robert, 173 Relationship between Design Tolerance and Rejects, 77 Relationship Portfolio Possibilities, 121 Reputation Risk, 36, 74 Request–Suggestion–Modification Process, 57 Research and Development (see also R&D), 25 Resource-based Theory, 42 Reverse Engineering, 153, 208 Risk Attitude, 155, 209 Risk Exposure, 155, 209 Risk Management, 142, 147 Risk Premium, 155, 209 Robots, xxi, 166–167, 169, 175 Robust Design, 79, 209 Royal Bank of Scotland, xx, 161 Royal National Lifeboat Institution (see also RNLI), 14 Rumsfeld, Donald, 67 b3235_Index.indd 222 S 2017 Stericycle Expert Solutions, 73 Service-level Agreements, 64, 138 SERVQUAL Model, 210, 83–84 Short-Term Opportunism, 41 Smith, Adam, xvii, 44, 170–171 Smith, Will, 170 South Sea Bubble Effect, 168 Spend Analysis, 117, 120, 126, 211 Sub-Optimisation, xvii, 159, 211 Supplier’s View of Attractiveness, 120 Supply Chain Finance Providers, 10 Supply Chain Partners, 10, 44 Sustainability and Recycling, 25, 29 Sustainable Development, 38 Swatch Consortium, T Target Cost Approach, 24 Technology Push, 18, 212 Total Quality Management (see also TQM), 82, 213 Toyota Production System, xix, 201 Trade-offs, 71, 80, 198, 213 Trans Pacific Partnership, 164 Transaction Cost Analysis (see also TCA), 40, 213 Trump, Donald, 16, 47, 174 Types of Products and Services, 136 U Universal Basic Income, 172, 175, 214 Upper Specification Limit, 78 Upside Risk, 16, 155, 215 14-08-2018 06:30:33 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management Index 223 V Value in Transfer, 55, 215 Venture Capital Funds, 12, 215 Virtual Integration, 36 Z Zero Hours Contracts, 57 Zero Hours Employment Contracts, 87 W Walton, Sam, 13 Whats in it for WE, 160–161 Williamson, 40–42 b3235_Index.indd 223 14-08-2018 06:30:33 ... in Singapore Alex - 10521 - Supply Ecosystems. indd 19-07-18 10:33:57 AM “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management... b3235_Ch-01.indd 14-08-2018 06:27:43 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 2 Supply Ecosystems lodging and perhaps a wage?... b3235_Ch-01.indd 14-08-2018 06:27:44 “9x6” b3235 Supply Ecosystems: Interconnected, Interdependent and Cooperative Operations, Supply and Contract Management 4 Supply Ecosystems Of course, the duration of