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Impact of international business in the world
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Midterm Reflection In the first half of the course Advanced Business Logistics, I have found many items that have stood out over the past four weeks. Each weekly lesson plan has been logically broken down into segments that were easily understood and presented in a logical fashion. I have been pleasantly surprised and excited about the course content. I have been aware of many of the topics discussed which have been presented in previous courses but not to the detail that I have found in this current course. Presented below is the information that was the most interesting that has stood out the most thus far in the course. In the first week we discussed supply chain maturity, supply chain strategy and the ten traits of the best supply chains as which are presented in the textbook, Diagnosing greatness: Ten traits of the best supply …show more content…
This is true in many aspects of all businesses, organization and the even the military. The leadership and workforce need to have a common understanding of the company’s objectives and the direction in which they are heading. The common understanding does not have to be an entire company view, “it may start with a single business unit or function (such as logistics), or it could be focused on a primary need (such as channels of distribution).” (Poirier, et al., 2010, p. 37). This reinforced a thought process I have had for quite some time regarding management styles and relationship between the work force and supervisors. By empowering each worker to do their best, make positive change, and suggestions. Allowing the workforce to be aware of the company’s global picture and how the changes made at the local level effects the company, gives them the opportunity to see the success of the company at their
With different prices and services across the facilities, management is trying to identify opportunities to standardize costs and services across the business units. The goal of this case study is to update Deere and Company’s logistics by recommending solutions to cut logistics cost by 69 million over 3 years
I chose this particular concept due to the need for effective leadership in today’s workforce as it pertains to employee development. In most cases, many businesses have ineffective leadership development programs that are designed to tear down employees rather than build them up. I have experienced such a lack of leadership through past employment experiences, however, those experiences have afforded me the ability to recognize and prevent those issues from occurring today. I have noticed a lack of focus on behalf of organizations where employee turnaround is the highest. There is nothing more stressful than an organization that is continually trying to see you fail added in with the daily problems of an adult life. The importance of leadership development is found in the constant need for strong and intuitive leadership throughout today’s modern organizations (Rowland, 2016). Organizations of the modern setting will need to explore alternative and innovative avenues to implement effective leadership skills as it pertains to specific industry cultures and or competition. I personally believe that the diversification of today’s workforce has promoted a positive change in how employees are treated and how organizations operate competitively in today’s business
Can Anticipatory Logistics Work In The Corporate World? I do not see any reason, based on the article provided, as to why anticipatory logistics cannot work in the corporate world. In my opinion both are significantly similar in function and operation. The basic aim of both the supply chain management that is frequently used in the corporate world and the anticipatory logistics used by the armed forces are same, and that Is to satisfy the customer better than the competitor. It is true that in each industry the requirements, needs and demands of customers are different, specifically in the corporate world where one company sells pharmaceutical products while other sells ready made clothes. However, in the industry, all the companies compete for a greater market share and that share is contributed by earning customers, loyal or not. When there is a question of winning customers, then there is a concern about the cost, the pricing of the product or service, the speed and ease of delivery, the psychological acceptance, and many other such elements that make the organization ponder on efforts that would let them survive not just in the corporate world, but also in the war or preparations for war. Anticipatory logistics work in the similar fashion as the supply chain management works. Defining the supply chain management, Li et al (1999) writes that the supply chain management is the “management of materials and information flow both in and between facilities across SC”, where the SC or the supply chain is a “network of facilities and distribution options that performs the function of procurement of materials, transformation of these materials into intermediate and finished products, and distribution of these finished products to custo...
In order to succeed, managers have to realize that they cannot do it alone and they must work together on a daily basis with the whole organizations in their supply chains. Because supply chain management involves all functions within an organization, managers need to know what a supply chain is, why it is important, and the impact of supply chain management on the success and profitability of their organization. Today, Wal-Mart topped the list of the America’s biggest companies on the Fortune 500 list, “with sales of almost $345 billion — more than a quarter of a trillion dollars” (Forbs). Wal-Mart’s supply chain management is becoming recognized as a core competitive strategy.
Giving sufficient training chances to your staff and communicating your trust in their work tells them that you are invested in them. Strong managers/supervisors dodge the desire to perform all aspects of an undertaking themselves, however permit workers to decide, organize undertakings and plan tasks and projects. Leaders who are focused on their groups attempt to guarantee that all representatives are dealt with similarly and that special treatment is not given to a specific worker or
Generally, a superior supply Chain is an important and unique source of competitive advantage. Its importance is especially illuminated in Multinational companies such as Toyota. Putting this into consideration, the question that now begs for an answer is whether Toyota’s supply chain is effectively serving the organization. Without a doubt, Toyota ha...
Coyle, J., Langley, C., Gibson, B., Novack, R. and Bardi, E. (2008).Supply Chain Management: A Logistics Perspective. 8th ed. Cengage Learning, p.366.
Supply chain management has been defined as that process that involves the management of information, materials, and all the finances that are handled within and across the entire supply chain process (Christopher, 2016). The management is usually done through out the entire supply chain management from that moment when the suppliers are involved through all the manufacturing activities, different distribution activities, and the way that the products are served to the final product consumer (Turban, et al., 2002). The process also includes all the activities that different organizations offers to their customers as after sale services for purposes perfecting their services and products towards their highly valued customers (Christopher,
According to Mentzer (2001), several organizations have made supply chain management a key competency, particularly inbound logistics to support company operations. This is because its impact on services and products delivery to end consumer. Through supply chain management companies coordinate inter organizational operations for mutual efficiency. According to Brar and Saini (2001) to achieve supply chain efficiency organizations must be keen on their inbound logistics operations. This is because inbound logistics is the starting point of all supply activities in a firm and has an impact on subsequent supply chain activities. A disruption on inbound logistics flow may bring a company to a halt if production lines lack materials to run. This may lead to losses to an organization due to lost opportunities. Companies must therefore integrate inbound logistics in their supply chain plans for material sourcing and final product
Logistics is the process of effectively and efficiently managing the movement and storage of information, products, and services between supply chain players with the aim of meeting the needs and requirements of customers. Logistics is important in private companies because it allows companies to meet the requirements of customers and in turn gain profits, and stay competitive. Logistics is important to public companies because it allows them to successfully meet its social objectives and even during successfully conduct international trade.
Logistics is the designing and managing of a system in order to control the flow of material throughout a corporation. This is a very important part of an international company because of geographical barriers. Logistics of an international company includes movement of raw materials, coordinating flows into and out of different countries, choices of transportation, cost of the transportation, packaging the product for shipment, storing the product, and managing the entire process. The concept of logistics is fairly new in the business world. The theoretical development was not used until 1966. Since then, many business practices have evolved and logistics currently costs between 10 and 25 percent of the total cost of an international purchase.
In logistic industry, they have been through lots of challenge in worldwide market. As the containerization of the global economy scopes, a phase of development and explanation, ports find themselves inserted in ever changing commercial environment where logistics is the forefront. Thus, this industry reaches a phase of maturity and rationalization due to the process of logistic on land.
The key performance drivers of Supply Chain Management (SCM) are - facility effectiveness, inventory effectiveness, transportation effectiveness, information effectiveness, sourcing effectiveness, pricing effectiveness, delivery effectiveness, quality effectiveness and service effectiveness. These drivers include various performance markers that may be measured quantitatively by gathering information and applying them in SPSS. The works here may principally be quantitative with spellbinding measurable investigation. In the current world, practical supply chain management to help the triple primary concern, (nature, domain, and economy) is likewise included in the extent of supply chain performance drivers. This is relatively a quite new research region.
Creating logistics value is costly. Logistics accounts for one of the highest costs of doing business. Logistics expenditure normally ranges from 5% to 35% of sales depending on the type of business. Thus logistics even though very important for any business success is expensive.
As an outcome of the thesis, my professional interest on the issue associated with the development of logistics sector has been enhanced. Furthermore, I am planning to keep an eye on the sector to enhance my knowledge which will benefit me and the organization I work for.