The Supply Chain Management Of Supply Chains

1372 Words Sep 29th, 2015 6 Pages
Section 1

Technology advancement has paved way for increased communication, collaboration, and sharing of information around the world. Supply chains are now very complex and flourishing in the global marketplace, but only constructed and managed correctly. My discipline is supply chain management. There are many different functions of the supply chain that make it what it is. Breaking this discipline down to specific job task is difficult because each process in a supply chain, no matter how complex is connected with at least one other process in the supply chain. There is no clear definition of a supply chain. A supply chain is a web or network of collaborators, processes, materials, and information. The goal of a professional in supply chain management is to get the right goods or services to the right place, at the right time, and in the desired condition at the lowest cost and highest return on investment. Information technology (IT) has changed the landscape of supply chains.

Section 2

Big data or data analytics is the reason that some companies have made a major shift in the marketplace. Big data is providing companies with cleaner data and visibility, allowing them to make confident decisions on selecting suppliers, transportation, forecasting and eliminating unneeded costs. A company may choose to use data analytics to compare suppliers. Suppose a company is more vertically integrated or produces everything in house to minimize risk. The sharing of big…

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