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Procurement
Contract and Procurement
The supply chain is one of the primary ways in which an organization adds value to the consumer. However, this process can be different based on the industry. For example, the service industry and manufacturing industry can add value through supply chain management in different ways. Value can come from design, quality, price, or efficiency. In a manufacturing environment most modern organizations tend to try to keep inventory levels as low as possible to reduce inventory overhead as well as the risk of obsolescence. However, in the service industry the supply chain may be optimized differently to ensure that the needed service supplies are always in stock without any real risk of stock-out.
Supply chain management has become a complex and technology-driven discipline yet many leaders pay little attention to SCM as a strategic concern and hire individuals with little SCM training, which limits the organizations ability to use this function to improve the overall...
One example of the technology driven procurement is the advancement of radio frequency identification (RFID) technology that has implications for any industry that deals with spoilage such as many of the food oriented businesses in the service industry. One interesting application for the use of RFID in these industries has been identified to be in the tracking of perishable items (Chande, et al. 2005). This allows managers to ensure that their products are fresh and minimize and risks of the inventory perishing. This could also be applicable to other service industries such as the medical industry that must ensure medical devices are protected and monitored at all times.
The manufacturing industry generally has different priorities. Although some procurement materials might be prone to spoilage, it is at a lessor rate than many businesses in the service industry. This industry has now tried to maintain as small as inventory as possible…
Works Cited
Basu, R., & Wright, N. (2012). Quality Beyond Six Sigma. New York: Routledge.
Chande, A., Dhekane, S., Hemachandra, N., & Rangaraj, N. (2005). Perishable inventory management and dynamic pricing using RFID technology. Industrial Engineering and Operations Research, 445-462.
Slone, R., Mentzer, J., & Dittmann, J. (2007). Are You the Weakest Link in Your Company's Supply Chain? Harvard Business Review, 116-127.
Contracting and Procurement in Supply Chain Management Supply Chain Management 5960 This paper comprehensively describes the contracting and procurement function in the supply chain management of an organization. The paper starts with an introduction to the supply chain management and proceeds by discussing the importance of contracting and procurement function for an organization. The paper also describes the whole contracting and procurement process and highlights some risks and ethical issues associated with
Results from the study by Petersen, Ragatz and Monczka show that effective collaborative planning depends on information quality, and the trust level firms share. The authors purport: "Collaborative planning activities between supply chain partners are expected to lead to better performing supply chains" (Petersen, Ragatz & Monczka, Introduction section ¶ 1). In addition, numerous other researchers have also explored the perception relating to supplier alliances, that enhanced collaborative planning
Supply chain management in FMCG sector Fast Moving Consumer Goods (FMCG) Managing supply of FMCGs Demand and Supply Distribution Channel Traditional channel of FMCGs distribution National Vs Global Presence Products and Services Supply chain opportunities Usage of Supply Chain Management Business development Business performance Cost reduction Revenue Increase Inventory management Overall Business Performance Competitive advantage Future trends Issues in global supply chain management: FMCG sector Multi-channel Supply Chain Management Individual Tagging The FMCG sector is represented as manufacturers and distributors of packaged products. They are also coupled with mega retail brands
Supply chain management has become a concept without which companies could not face the increasingly complicated business environment existent nowadays, especially given the competition of companies that can operate at lower operational costs and thus increase their profit margins through cost competitive advantages. In order to achieve lower costs, better distribution processes and better delivery times, companies have introduced supply chain management. Supply chain management can be defined as "the practice
Supply Chain Management Hypothesis defined Concepts of SCM and the evolution to its present day form Critical factors that affect SCM Trust Information sharing and Knowledge management Culture and Belief -- impact on SCM Global environment and Supply Chain management "Social" and "soft" parameter required for SCM Uncertainties This chapter aims to give an outline and scope of the study that will be undertaken in this work. The study lays out the issues faced by manufacturing organizations when it comes
Supply Chain Management Purchasing and Supply Management: A Key to Competitive Advantage Purchasing and supply management is an essential function of any business. Regardless of the size of the business, or the product are service that they offer, every business depends on some type of supply in order to produce goods or services. If supplies do not arrive on time, the business could be it a standstill. This not only means lost