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Essay on effect of supply chain management
Essay on effect of supply chain management
Essay on effect of supply chain management
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The main area of focus in this article is on the evolution to a successful business model of Supply-chain management. About two decades ago there were the “traffic” managers with a sole responsibility of transferring freight to outside world. After that came the physical distribution management which was broadened to logistics management. Then the advent of supply-chain management made the transportation distribution and logistics professionals are the key in transforming into an effective business process. The Supply-chain management incorporates the activity of moving goods from raw-materials stage to making it available to the end-user covering the procedures of sourcing and procurement, production scheduling, order processing, inventory management, transportation warehousing, customer service and an information system to monitor all the activities. The successful supply-chain management focus solely on the consumer demand rather than imposing a product into the market which may or may not succeed. The companies are adopting to speed ways of market techniques to gain a good cons...
Radhakrishnan, P. (2001). Proceedings of the 1st international conference on logistics and supply chain management. Allied Publishers.
“Supply Chain Management encompasses the planning and management of all activities involved in sourcing and procurement, conversion and all logistic activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third parties service providers and customers. In essence, Supply Chain Management integrates supply and demand management within and across companies.’
Supply chain management is basically refers to the fundamental supply chain analysis of the organization which predominantly describes functionalities from source to the delivery point. In this process of delivery, supply chain management framework divides in four categories: In Planning the products and suppliers evaluated and selected, Sourcing pull the information process including contracting, ordering and expediting, Moving is a physical process from suppliers to end user and Paying is the financial process including payment and performance measurement.
‘Supply chain management integrates supply and demand management within and across companies. It encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, thir- party service providers, and customers’. (Web: Council for Supply Chain Management Pr...
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,
To resolve these issues, many companies are trying to find tools for implementing best logistic management practices. Research has been conducted on the buyer-supplier relationships in logistics.
Previous researchers have shown that there is a positive relationship between cooperation and satisfaction (e.g. Mallen, 1963; Dwyer, 1980; Schmitz Whipple and Gentry, 2000). The cooperative efforts of channel members should results in greater trust, commitment, channel efficiency and the achievement goals, thus leading to higher levels of satisfaction. (Jonsson and Zineldin, 2003).
Supply Chain Management (SCM) is an essential element to organisation success by maximizing customer value and achieve a sustainable competitive advantage. The source of competitive advantage can also include innovation, brand image, product range, customer care, compliance to regulations and reduced risks. Supply Chain Management (SCM) has seeking all possible areas to improve the competitive position and generate the greater cost saving to the organisation especially during this economic downturn.
Studies are highlighting that there has been increased consumption of services offered by logistical service providers in supply chains. A logistics service provider is used synonymously to refer to carriers, forwarding and transportation companies, as well as, third party logistic providers and logistic service companies. Logistic service providers are significant actors in the supply chain as they handle substantial shares of their customers’ activities. Logistics service providers provide their customers with traditional logistics services such as transportation and warehousing and supplementary services such as order administration and track-and-trace services. Logistics performance in the supply chain such as lead-time, flexibility and on-time delivery should be a shared responsibility as they are created by customers, suppliers and logistics service providers. The increasing competitiveness of the business environment demands that logistics service providers should develop skills in the analysis and reporting of performance data to guarantee success with their customers.
In the era of globalization and international trade, global value chains (GVCs) have emerged as an important avenue for economic development especially for developing countries. GVCs allow small companies, and enterprises in low income countries to take part in the increasingly integrated global economy. A value chain refers to the range of processes involved in making a product including its conception, creation, distribution etc. and, the same process, when conducted amongst firms on an international level is considered a global value chain (Gereffi and Fernandez-Stark 4). The framework of GVCs is very detailed - it allows us to understand the complex processes and intricate procedures for production in global industries and the role various
Supply chain management is the management of the flow of goods. It consists of the movement and storage of raw materials, inventory, and finished products from the point of origin to the point of consumption. It has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally." Supply chain management has strategic implications for any company, identifying the required performance measures on most of the criteria is essential and it should be an integral part of any business strategy . Thus, the food supply chain and its management as essential to the agriculture and food industry and the market.
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.
Inventory management is defined because a science mostly established art of guaranteeing that just enough inventory share is command with a company to fulfill demand (Coleman, 2000; Jay & Barry, 2006). it's mostly regarding specifying the size and keeping of stacked product. Inventory management is usually needed at completely distinct spots within a service or within multiple spots of a supply network to guard the standard and planned course of production up against the random disruption of running low upon materials or product. The scope of inventory administration also concerns the good lines between replenishment period interval, carrying costs of inventory, asset management, investment forecasting, inventory valuation, selection visibility,
Coyle, J., Langley, C., Gibson, B., Novack, R. and Bardi, E. (2008).Supply Chain Management: A Logistics Perspective. 8th ed. Cengage Learning, p.366.
Inventory Management has developed as an important fact in organizational efforts to reduce losses. The management of capital within an organization has a significant impact towards profits where inventories are commonly an organization’s largest asset. Inventory Management behaviors impact the sales forecast, operation and sales planning, production planning, inventory rotation and material requirement planning.