Supply Chain Management Essay

3146 words - 13 pages

SUPPLY CHAIN MANAGEMENT

DEFINING SUPPLY CHAIN MANAGEMENT
Supply chain management (SCM) is the combination of art and science that goes into improving the way your company finds the raw components it needs to make a product or service and deliver it to customers. The following are five basic components of SCM.
1. Plan—This is the strategic portion of SCM. Companies need a strategy for managing all the resources that go toward meeting customer demand for their product or service.
2. Source— Companies must choose suppliers to deliver the goods and services they need to create their product. Therefore, supply chain managers must develop a set of pricing, delivery and payment processes ...view middle of the document...

But even as companies are rapidly adopting supply chain management strategies in an effort to keep up, many still lag when it comes to measuring how well they are doing, and balancing the trade-offs involved in keeping service levels high and costs low."They put all of their eggs with one supplier that had the best product at the lowest price"Tokyo, and indeed much of eastern Japan, is an epicenter of high-tech manufacturing. But dozens of suppliers in other industries are located in the region as well, and the loss of their production may have far-reaching effects in many economic sectors for years to come. The recent Tsunami disaster is causing many companies to rethink their supply chain strategies, which suddenly seem extremely fragile. About 22 percent of the world's 300 mm silicon wafer supply came from the Shin-Etsu Handotai's Shirakawa plant in Fukushima prefecture, and 60 percent of critical auto parts were in the same area. The area is also a primary supplier of lithium battery chemicals, flash memory, and anisotropic conductive film used in LCD flat panel displays.In the race to provide better quality at lower prices, manufacturers picked very narrow, optimized supply chains, they put all of their eggs with one supplier that had the best product at the lowest price. |
SUPPLY CHAIN DESIGN
Supply chain design attempts to create the appropriate supply chain for the company’s operating environment. This dissertation addresses two problems that are relevant to supply chain design. The first problem addresses how to configure a new product’s supply chain. The second problem addresses part selection for multigenerational products. This would increase the current period’s costs but allow the company to forgo a development cycle in the next period and gain cost efficiencies by exploiting the higher volume from two generations of demand.
http://www.cio.com/article/445316/Nintendo_Wii_Shortage_Shrewd_Marketing_or_Flawed_Supply_Chai

n_

Synchronizing supply and demand, ensuring that logistics are cost-effective, and optimizing inventory are problems as old as human commerce. What has changed, needless to say, is the complexity and scope of that Commerce and global trade growth. While the recent recession clearly dampened that growth, there is every expectation that, as with previous recessions, the current recovery will signal a return to a similar relative rate of growth for global trade.

Risk has increased significantly as the scope and importance of supply chain software has grown. A study by Vinod R. Singhal and Kevin B. Hendricks, professors at the Georgia Institute of Technology and the University of Western Ontario, respectively, describe an industry rife with supply chain “glitches,” problems that not only result in operational problems within customers’ supply chains but also result in lower stock prices and lost value for the companies that experienced these supply chain problems.

OUTSOURCING AND GLOBAL SOURCING
...

Other Essays Like Supply Chain Management

Supply Chain Management Problems Essay

810 words - 4 pages -mortar stores become an extension of the supply chain in which purchases may be made in the store, but are researched through other "channels" of communication” References: Russell, R., & Taylor, B. (2011). Operations management: Creating value along the supply chain (7th ed.). Hoboken, NJ: John Wiley and Sons, Inc. Wikipedia. (n.d.). Omni-channel Retailing. Retrieved from http://en.wikipedia.org/wiki/Omni-channel_Retailing 11-16

Supply Chain Management Essay

1807 words - 8 pages . Supply chains link value chains. Supply Chain Management (SCM) 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).[1] Supply Chain Management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption (supply chain). Another definition is provided by

Supply Chain Management

2641 words - 11 pages Supply Chain Management Assignment - 1 Pradeep Pydi -127 4081 Executive Summery: Supply chain management is defined as effective integration of flow of materials and information with in the process of supply and demand. This current report is based on a global pharmaceutical company, which is based in New Zealand market. The pharmaceutical company’s supply chain is quite complex and essential, as pharmaceutical products should be

Supply Chain Management

3396 words - 14 pages A. A supply chain strategy appears in many different forms and varieties; picking the right strategy is the hard part. When deciding on a strategy, the goal is to pick the correct one that will benefit your specific organization and area. There are six different strategy associated with supply chain management: Many supplier, few suppliers, vertical integration, a combination of the two referred to as a joint venture, Keiretsu, and a virtual

Supply Chain Management Accountability

586 words - 3 pages expensive material in final production. Conclusion: After Mattel had numerous product recalls they quickly took responsibility through media outlets. Eventually Mattel implemented new policies throughout their procurement process. Even with the best practices in global supply chain management things can still go wrong. It’s important that companies do not get complacent and are continually evaluating themselves. The world’s changing every day and companies management practices, standards, and policies must be flexible enough to evolve to mitigate risk and ensure accountability.

Supply Chain Management - 5211 words

5211 words - 21 pages the supply chain. A company should link its forecast to all planning activities throughout the supply chain. These include capacity planning, production planning, promotion planning, and purchasing, among others. This link should exist at both the information system and the human resource management level. As a variety of functions are affected by the outcomes of the planning process, it is important that all of them are integrated into the

Supply Chain Management - 3135 words

3135 words - 13 pages customer service are not outsourced and CF should keep it this way to avoid scrambling their competitive advantage. It’s recommended by Burt, David N. author of World Class Supply Management: The Key to Supply Chain Management. 7th ed. Boston: McGraw-Hill/Irwin, 2003 that companies should outsource items/services that don’t fit in these categories below: * “Critical to success of product/service” * “Specialized design” * “Fits well

Zara Supply Chain Management

1714 words - 7 pages available stock. 4. Efficient Distribution Channels Distribution management: its State-of-the-art distribution facility functions with minimal human intervention. Optical reading devices sort out and distribute more than 60,000 items of clothing an hour. Zara’s merchandise does not waste time waiting for human sorting. (source: https://www.youtube.com/watch?v=ow8gqhzvUoA) Fashion Forward – Zara’s Supply Chain Strategies “One day it’s in

Toyota Supply Chain Management

4573 words - 19 pages outrages Toyota way that is truly unique and effective. According to the Toyota Way document, “we believe that our fundamental mission is to contribute to the company and society through creating value, mainly by manufacturing high-quality products and providing related services.” From this, it can be seen that in this company, they truly care about their way of management of supply chain with the aid of enhancing the society’s needs and

Supply Chain Management - 1064 words

1064 words - 5 pages Introduction to Supply Chain Management TUI Dr. Erick Aguilar This assignment is to anticipatory logistics and if they are able to achieved successfully in the business world. Being that I work in the maintenance world in the United States Army I am constantly rolled up into the Logistical community of it, due mainly on my ability to find, resource and ultimately acquire the necessary resources to complete my commanders maintenance

Supply Chain Management - 5570 words

5570 words - 23 pages Supply Chain Management: Food (Pineapples and Plantains) Chestnut Hill Farms Table of Contents I. Major manufacturers/producers or service providers for pineapples and plantains II. Total output worldwide regarding pineapples and plantains – divided by countries. III. The import export statistics to show major producers and major consumers for pineapples and plantains IV. Local manufacturer Chestnut Hill Farms

Related Papers

Supply Chain Management Essay 972 Words

972 words - 4 pages YEAR 2010-2011 Global Supply Chain and Logistics M06BSS 1. MODULE SUMMARY Aims and Summary This module provides knowledge and a thorough understanding of the management of the distribution and logistics function in contemporary organisations. The module will introduce the core concepts and theories that are pre-requisite for the successful management of logistics within the overall context of the organisation. The overall

Supply Chain Management Essay 4108 Words

4108 words - 17 pages SUPPLY CHAIN MANAGEMENT Supply Chain Management University of Maryland University College ITEC610 Section 1142 Semester 0809 Abstract This paper defines the concept of technology in Supply Chain Management used to promote planning, analyze and account for the operations of a supply chain business with the goal being increased profits as well as a satisfied clients. This paper will discuss how to

Supply Chain Management Essay 928 Words

928 words - 4 pages upply Chain Management is the systematic, strategic coordination of the traditional business functions within a particular company and across businesses within the supply chain, for the purposes of imposing the long-term performance of the individual companies and the supply chain as a whole. The definition of Supply Chain Management focuses on management of relationships as means of achieving better results for all members of the supply

Supply Chain Management – Outsourcing Essay

3780 words - 16 pages involved in its creation. This brought about new challenges for the integration of legally separated firms and the coordination of materials, information and financial flows not experienced in this magnitude before. A new managerial philosophy was needed - Supply Chain Management. Supply Chains are a hot management topic. Eyes are opening to a more global view of end-to-end material, information, and financial flows. (Stadtler H., Kilger C., 2008