Resources needed:1.A windows PC with Microsoft Excel installed. If you need this software, followthese steps to install it.2.Ess13ch02_Questionfile.xlsxIn this exercise, you will learn how to use spreadsheet software to improve managementdecisions about selecting suppliers. You will filter transactional data about suppliers based onseveral criteria to select the best suppliers for your company.Scenario:You run a company that manufactures aircraft components. You have manycompetitors who are trying to offer lower prices and better service to customers, and you aretrying to determine whether you can benefit from better supply chain management. TheAssignments area under Week 2, you will find a spreadsheet file(Ess13ch02_Questionfile.xlsx)that contains a list of all the items your firm has ordered fromits suppliers during the past three months. The fields in the spreadsheet file include vendorname, vendor identification number, purchaser’s order number, item identification number anditem description (for each item ordered from the vendor), cost per item, number of units of theitem ordered (quantity), total cost of each order, vendor’s accounts payable terms, order date,and actual arrival date for each order.Prepare a recommendation of how you can use the data in this spreadsheet database toimprove your decisions about selecting suppliers. Some criteria to consider for identifyingpreferred suppliers include:the supplier’s track record for on-time deliveriessuppliers offering the best accounts payable termssuppliers offering lower pricing when the same item can be provided by multiplesuppliers. (extra credit)Use your spreadsheet software to prepare reports to support your recommendations.Information about the data:At a minimum you will need to be able to sort the database by various criteria such asitem description, item cost, vendor number, or A/P termsA/P terms is expressed as the number of days that the customer has to pay the vendorfor the purchase. In other words, 30 designates net 30 days. The vendor that allowscustomers the longest amount of time to pay for an order would, of course, offer themost favorable payment terms.
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Iproving Decision Making: Use a Spreadsheet to Select Suppliers .