The larger a company’s supply chain, the more vulnerable the company becomes. When the company’s suppliers spread further and further away from the company, the company becomes even more vulnerable to political and currency risk, cyber attacks, missed inventory goals, and failed communication with the supply chain. For a company to overcome those potential vulnerabilities, a company must build safeguards into their operations. Those safeguards include a strong corporate backing in supply chain management, solid relationships with suppliers, more attention to forecasting, and a holistic approach to sustainability. The corporate culture of a company is a critical component to supply chain management (Lee, B.C., et al., 2010). Top level …show more content…
Supply chain management is increasing in importance because “In today’s hypercompetitive environments in which competition is among supply chain networks rather than individual firms, firms are confronted with the need to effectively manage increasingly extending supply chain activities beyond the boundary of the firm,” (Lee, B.C., et al., 2010, p. 657). As stated previously, the broader the supply chain the more risks the company is open to. The second line of protecting the supply chain is creating strong relationships with the suppliers. The longer a company has a supplier, the stronger the relationship (Bayraktar, 2010), but to get to that point there needs to be similar: corporate and national cultures, vision, technology rate change, and quality information to share (Lee, B.C., et al., 2010). When all of these characteristics align, there is trust and open communication. Since supply chain management can be considered information sharing (Lee, B.C., et al., 2010), trust and open communication are necessary for information sharing to take place. Without trust and open communication, there is a very weak supply chain and even more vulnerability to risks. Trust and open communication are extremely important in global supply chains. Extra effort from the operations manager is needed when languages and time zones complicate communication. A critical component of an operations manager’s job is understanding customer demand. Knowing when the customers want
Supply chain management is a practice that involves the planning, supervision, and implementation of strategies and controls to direct the movement of goods and services provided to customers. The intent of this essay is to incorporate a synopsis of existing literature and to provide the reader with a general understanding of how supply chain management correlates with the organizational design and structure of modern firms. The essay comprehensively reviews the components of supply chain management and their integration with functional areas within an organization. The information presented in this essay
Objectives: 1. View and record data from sample MM, 2) Create new MM for finished and semi-finished part, and raw materials.
us all their manufacturing defects of existing L.L.Bean products at an agreed upon reduced rate,
The role of operations management is the production of goods and services and to ensure efficiency and effectiveness in the operation process, that means use as little resource as needed and meet the customer requirements. Moreover, it is converts inputs (in the forms of materials, labour and energy) into outputs (in the form of goods and services) and aims to increase the content of value-added activities in any given process in an organization. (Meredith and Scott 2007)
Question #2-Define the supply chains for the following products from the first source of raw materials to the first customer. A) Big Mac, B) Gasoline, C) Automobile repair, D) A Text book.
(What do you think the author is trying to demonstrate or bring out in the case?)
The additional unpredictability of Cybersecurity dangers just enhances this, paying little mind to their position inside a supply chain. Numerous associations battle to protect the confidentiality, availability and integrity of their systems and frameworks in such a quickly advancing digital threat landscape. At the point when overseeing dangers to the supply chain, current associations take after built up techniques for relieving conditions and vulnerabilities that could affect upon the physical supply chains. Organizations need to be aware of different ways the supply chain can be effected.
Prepare Contingency Plans: Supply chain risks must be identified and planned for. It is important to consider supply chain disruptions such as natural disasters, terrorism, security threats, piracy, supplier’s financial collapse, and infrastructure or process failure and there are other risks that all businesses face such as demand volatility and compliance issues. (book, p.241). Developing back up processes and plans takes considerable time yet preparation can be the difference between business continuity and end.
Supply chain is one of the critical aspects that can make or break any company. The research will also concentrate on aspects of supply chain.
Young (2012) writes that supply chain management (SCM) is a function of collaborating firms working to improve operating efficiency and to leverage strategic positioning. In addition, Young references this function as not only the physical attributes of product distribution, but also to include related information, such as production or delivery status, and the capability to access such information. Such capabilities allow SCM to be an important link in fulfilling customer needs and providing value. Young adds that in the current customer-driven market, the perceived value of the entire relationship
Organizations having supply chain world-wide face more risks such as supply disruptions, longer lead times etc. caused by global customs, foreign policy regulations, port delays, political instability, recession in a specific region’s economy etc.
The primary goal of the operations manager is creating happy and loyal customers. By effectively analyzing and managing their business's operations, they created the right products with the right features at the right
“The finest supply chains aren’t just swift and cost effective, they are also agile and flexible and they ensure that all their companies interests stay aligned.”- Hall L Lee
I declare that all materials included in this essay/report/project/dissertation is the end result of my own work and that due acknowledgement have been given in the bibliography and references to ALL sources be they printed, electronic or personal.