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I’m working on a Supply Chain question and need guidance to help me study.1)[20 points] Providing examples, describe a scenario for each of the following options:a)Outsourcing is preferred
b)Outsourcing is very risky
c)Outsourcing is not a good option at-all.
2)[20 points] A restaurant expects large number of patrons due to a sporting event in the town in next month. Assume that you’re the restaurant manager and you need to secure food supplies to serve the patrons. (Also assume that there is no pandemic and people can return to restaurants as before). Describe the steps in the supplier selection and evaluation process for this scenario.
3)[15 points] What is Kralijic’s Portfolio Matrix? Provide examples for each of the four categories of Kralijic’s portfolio matrix. Your answers should explain the supply risk and profit impact for the product and what should be the best supply strategy. For example: A seafood restaurant which is well known for its lobster tails should use for lobster tails because lobster tails have a supply risk and profit impact for the business.
4)[10 points] Fisher proposed a sourcing strategy framework for components.a)List three examples for functional products. What should be the component sourcing strategy for functional products?
b)List three examples for Innovative products. What should be the component sourcing strategy for innovative products?
5)[15 points] Write a short essay (min. 200 words) about sustainable procurement. Your essay should explain what sustainable procurement is, why is it important, and the advantages, disadvantages, and risks.
6)[20 points] Write a short essay (min. 200 words) on supply contracts and advantages of sharing information between supplier and retailer. In your essay, list the types of supply contracts, and discuss how sharing information can be beneficial.
Your answers should include an example, real-world or hypothetical. For example: “Outsourcing is an opportunity when an organization is independent for knowledge, but dependent on capacity and the product they are making is modular. A bakery which specializes in cakes and pastries does not have capacity to bake cookies can outsource cookie making to 3rd party supplier.” – In this example, the product outsourced is not a specialization for the baker and baker might be independent for knowledge (of making cookies) but lacks the capacity. Therefore, outsourcing is an option.
Requirements: ANswer completely


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