Introduction
Market globalization, intensifying competition and an increasing emphasis on
customer orientation are regularly cited as catalyzing the surge in interest in supply chain
management. Against this backdrop, effective supply chain management is treated as key
to building a sustainable competitive edge through improved inter and intra-firm
relationships (Seuring et al 2003). A range of benefits has been attributed to supply chain
management, including reduced costs, increased market share and sales, and solid
customer relations (Langabeer 2007).
There is one paper which presents a major contribution to the field of supply chain
management and this is Fisher’s What is the right supply chain for your product?
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To battle this challenge,
the company is using an accurate response model which is a good example of
implementation of a responsive supply chain strategy. The model tells the company
exactly how much of each style to make early in the production season. This approach
has cut the costs of both overproduction and underproduction in half-enough to increase
profits by 60%.
Implementation of Fisher’s model, therefore, includes three basic steps. Determine the
nature of your product, decide about your supply chain priorities, and as a last step,
employ a matrix to formulate the ideal supply chain strategy.
A critique of Fisher’s model
As Seuring et al (2003) state, the Fisher’s paper has influenced the supply chain
literature in a great extent. While reference is more often made to the supply chain
dimension and the separation of responsive and efficient supply chain, the product related
dimension also played an important role in the development of further concepts.
This influence can be primarily seen by the number of subsequent papers that build upon
it. These papers have analyzed Fisher’s model from the different angles and pointed out
some weaknesses and limitation of this approach.
A critique of the model as it appears in the presented assignment will be therefore
built on three main approaches. The first one is an empirical test of the model which has
List and explain all aspects of supply chain management. pg 416; week5 lecture, pg 4;
9. Refer to the model and estimates in the previous question. Ceteris paribus, according to these
(iv) Do the model estimates in (3.2) seem reasonable - or do the results provide evidence that it is a poor model? Explain. (2 marks)
A supply chain is very important to an organization. It can and should show the relationship between suppliers, distributors, managers and consumers. This paper would detail how important suppliers and distributions are to an organization’s success. And how important a supply chain is within an organization and how managers can utilize the supply chain. It is important that companies such as Target Corporations utilize the supply chain and gain competitive advantages. Target is one of the world’s largest retail stores; the first Target was opened in 1962 in Roseville, Minnesota (Target.com). By the end of 1962 there were only four Target and they were all operated in Minnesota.
A Customized Textbook, Supply Chain Management SCHM2301, ISBN9781308037400 Copies are on reserve in the library
An analysis of
This chapter presents the conclusion and suggestion related to the findings and analysis. Those include the answer of the research problem presented in the first chapter.
Apply time, money, people and other resource involve in early supply and supplier to assure continuous availability at the lowest cost in strategy spend.
W.C. Benton, J. (2010). Purchasing and Supply Chain Management (2nd ed.). New York: McGraw-Hill Irwin.
Mckinlay (1972) developed a model from analytical point of view after considering the three conceptual models (the behavioural model, the psychosocial model, and the economic model). He identified
In a similar way, this paper will introduce questions in an attempt to compare the theories and
ReferencesJoansson,J2008,http://bsminfo.com/index.php?option=com_content&task=view&id=625&Itemid=147, accessed 15/05/2009Li, Y, Yu, J & Xu, L 2006, 3PLs in supply chain management, http://www.globrand.com/2006/18441.shtml, accessed 12/05/2009Rudnick, M 2008, Best Buy, Super-Regional See Major Gains in White Good, http://www.allbusiness.com/company-activities-management/sales-selling-sales/9341175-1.html, accessed 14/05/2009Weng, D 2006, 3PLs-The Breakthrough of Supply Chain Innovation, http://ww
Based upon his ten years research on supply chain issues in diverse industries such as food, fashion, apparel and automobiles he devises a framework which will help
efficient supply chain. There are two main factors that go towards deciding the actual point of
Introduction: Introduces the theory, purpose of the paper, and provides rationale for selecting the theory.