Question

Imagine you've taken on the role of a manager at an engineering company. You've been approached by a supplier of goods- one you haven't worked with before. The supplier shows you the new software package it is launching in a few months, and it piques your interest. The demo of the new technology shows you how it could really help your team design and develop projects faster. It also includes many add-ons for items that your company is not currently working on, but that your intuition says it should be.

The supplier's study says that 90 percent of your industry will be transitioning to this new technology in a couple of years, and that if your company doesn't move forward with it, you will fall behind. You are eager to grow revenue, develop your team, and wow your clients. The supplier says it is not making the new technology available to your competitors because it would prefer to partner with a prestigious company like yours. You think the supplier's representative is knowledgeable about the new technology and your industry, and you enjoy the conversations you've had, but you still feel uneasy about making a decision on whether to partner with this new supplier.

In your initial post, address the following:
• What research steps need to take place before you can make a decision?

Answer 1

Several research steps need to take place before making a decision whether to partner with a new supplier in the engineering company.

Step-by-step explanation:

Before making a decision whether to partner with the new supplier, there are several research steps that need to take place.

First, research the reputation of the supplier. Look for reviews and feedback from other companies that have worked with them before. This will give you an indication of their reliability and the quality of their goods and services.

Second, conduct a cost-benefit analysis. Evaluate the cost of implementing the new software package and compare it to the potential benefits it can bring to your team and company.

Third, assess the compatibility of the new technology with your existing systems and processes. Ensure that it can integrate seamlessly and enhance efficiency in your company's operations.

Lastly, consider reaching out to other companies in your industry to gather their insights and experiences with the new technology. This can provide valuable information and help you make an informed decision.