purchasing may be done based on the needs of the firm, billing is automatic and generated from the purchasing process; inventories are keyed in so that out-of-stock or backordered items are known immediately, transfers to and from particular departments are automatic, and at all times there is a real-time picture of the situation for management. In the case of a networked-based supply chain vendors may be evaluated based on past data and models made to ensure efficacy; while the accounting (cash) cycle may be compressed because of monitoring and accuracy in paying and ordering exactly what is necessary. Warehousing activities are easier to predict, as are the human resources necessary to ensure proper supply. 5. Increase supplier efficiency with real time information on firm/planned orders and forecasts. Use a "sense and respond" supply chain paradigm offers much more than many traditional approaches to supply chain management in that it enable the manufacturer to more effectively track and monitor the entire fulfillment process from order entry to proof of delivery. In essence, in supply chain management, entertainment, broadcasting, and marketing, "sense and response" attempts to put the right part with the right organization (or individual with message, product and service) in order to reduce various costs and out of stock items, excess inventory, poor customer service, low responses to advertising campaigns, inaccurate deliveries, and poor time management and use on both ends of the scale....
In a way it is the next generation of the supply chain model because it attempts to use all sorts of data to more robust and efficiently move goods and services in a timely basis, resulting in a win-win situation for all sides.Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
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