Supply Of Supply Chain Management

Supply chains manage the movement of products from the acquisition of raw materials through production and finally distribution to the end user. A properly designed supply chain can create many opportunities to drive down cost and increase revenue opportunities. In order to create a supply chain that is sustainable and flexible it is necessary to identify and align company goals and initiatives with the manufacturing and distribution of products.

The second chapter includes the literature reviews that are used as a basis for answering the research problems. The literature review provides the theoretical foundation for this research. The theories are strongly related to the topic and purpose of the thesis, which covers the definitions, functions, and advantages of Supply Chain Management and the performance metrics of Supply Chain Operations Reference, followed by proposed conceptual model.

Success for many organizations depends on the firm’s ability to balance product and process changes while exceeding customer expectations for improved cost delivery and quality. In lieu of these issues firms have started to implement principles of supply chain management. Supply chain management mainly involves managing the flow of incoming materials, manufacturing operations, and downstream distribution has to be in alignment that is responsive to change in customer demands eliminating a surplus of inventory.

Their efforts reflect seven principles of supply chain management that, working together, can enhance revenue, cost control, and asset utilization as well as customer satisfaction. Implemented successfully, these principles prove convincingly that can please customers and enjoy profitable growth from doing so.

What are the organizational objectives of your chosen organization? Explain the importance of an effective supply chain management in achieving the chosen organizaiton’s objectives. (Assessment Criteria 1.1: Explain the importance of effective supply chain management in achieving organizational objectives)

The simplest level of supply chain management is to make inventory readily available to meet customer demand. Without inventory, there is nothing available to draw customers in. Through their resources, organizations must meet supply with demand in a timely fashion. Supply chain partners should work together to increase resource productivity, develop standardized processes, and minimize the level of inventory. These steps will reduce an organization’s waste, costs, and raise supply chain efficiency.

Supply chain management is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers [Harland 1996]. Hence, supply chain management covers all the necessary movement and storage of raw materials, work-in-process inventory, and finished goods from the point of origin to the point of consumption.

According to our class text Supply Chain Management’s goal is to create fast, efficient, and low-cost network of business relationships to get a company’s product from concept to market. In order to understand the goal we must know that the supply chain is the process the raw materials of a product go through in order to be available to the consumer. The relationships that the business creates are needed in order to create the product, each process the product goes through creates value, the supply chain is often called the value chain. Internet technologies are increasingly making the supply chain management process much more efficient and worth the initial investment. The supply chain management life

Reorders are placed at the time of review (T), and the safety stock that must be reordered is:

Supply-chain management consists of developing a strategy to organize, control, and motivate the resources involved in the flow of services and materials within the supply chain. A supply chain strategy, an essential aspect of supply chain management, seeks to design a firm’s supply chain to meet the competitive priorities of the firm’s operations strategy.

The key to winning and keeping customers is to understand their needs and buying processes far better than the competitors do and deliver more values.

List and explain all aspects of supply chain management. pg 416; week5 lecture, pg 4;

Effective supply chain management can provide an important competitive advantage for a business marketer, resulting in improved communication and involvement among members of the chain, increased motivation, and decreased costs. Tracking the movement of and demand for components used to manufacture a product across a variety of potential and actual suppliers, provides insight and the ability to respond instantly to shortages, surpluses, and changes in market conditions. It seeks to optimize production, decrease manufacturing time, minimize inventory, streamline order fulfillment, and reduce cost.

A Supply Chain (SC) is an integrated process where involves various parties who are directly or indirectly working together to fulfil a customer’s demand. These parties can be manufacturers, suppliers, transporters, warehouses, distributers, retailers and end consumers. The functions of the SC cover a variety of areas, such as R&D, information flow, marketing, finance, distribution, operation, and customer services.

This article is about supply chain management (SCM). Its importance in the field of operation management. Supply chain management was discussed from the past three decades. This article tells about how supply chain management developed and how it will proceed in the future. The term “supply chain management” first appeared in the practitioner literature in 1982, which said that SCM is a way to manage resources and assets in a better way.