Supply Chain Communications, and coordination, are critical factors that are influenced by technology. Companies are starting to experience greater integration of their supply chains, so that customer needs are better understood, and the supplier can also communicate their situation. But it is particularly important for customers that they can order from their suppliers when needed, can estimate demand better, and that suppliers have the knowledge that they need to be more responsive to the needs of their customers (Subramani, 2004).
There are several different attributes of supply chain management. Among them, some stand out as being more important than other. Key aspects of supply chain management include technology, communication/coordination, inventory control and bargaining power (EAUC, 2014).
Bargaining power is important because it dictates the terms and conditions of the supply chain. If the buyer has more bargaining than the seller, then the terms will reflect more on the needs of the buyer, and vice versa. Thus, a company has to take this into consideration with its supply chain -- if its suppliers need it more than it needs its suppliers, this will provide opportunity for the company to leverage that to the benefit of its supply chain.
Technology is becoming increasingly important in the supply chain. Companies are using technology to get better estimates on demand, to link their point-of-sale systems with their suppliers, and to track inventory as it moves through the supply chain. Technology also helps companies to introduce more competition into the supply chain, so there are many good uses for technology, and the best technology is becoming a source of ...
Lastly, inventory control is becoming an increasing trend in supply chain management. It costs money to hold inventory, and there is risk associated with unsold inventory, in that it might go unsold or have to be liquidated at a discount. Inventory management is tied into working capital management, so that lower inventory levels are associated with having working capital available for investment elsewhere, thereby offering companies an opportunity to increase their ROI. So supply chain systems are focusing these days on using data as a means of increasing the efficiency of the company's inventory management.
Logistics are affected by the different key attributes of supply chain management, because logistics lie at the heart of the supply chain. Improve technology, for example, means that buyers will order…
Communications, and coordination, are critical factors that are influenced by technology. Companies are starting to experience greater integration of their supply chains, so that customer needs are better understood, and the supplier can also communicate their situation. But it is particularly important for customers that they can order from their suppliers when needed, can estimate demand better, and that suppliers have the knowledge that they need to be more responsive to the needs of their customers (Subramani, 2004).
(Reza, 2009) This information is building off of the findings from Uthayakumar. This is illustrating how the two tier system can help to streamline operations. However, as time goes by these ideas will become obsolete. The reason why is because they are focusing on particular aspect of supply chain management (i.e. during emergencies and backlogs). Where is it is failing, is through understanding how this strategy could be used when
Supply chain management (SCM) is a method for alleviating the way one company finds the raw materials and other components that it requires to produce a product or service and provide it to its customers. The five basic components of Supply Chain Management are planning, source, making, delivering and return. If supply chain standards are applied then the supply chain management could benefit from it a great deal and it
Supply Chain Management at DIMCO The supply chain relates to the entire cycle and process through which raw materials are purchased, processed and developed in to goods and services which can be traded in the market. The management of such a process would involve creating improvements in the supply chain itself to make it more profitable and efficient for the company (Davis, 1993). Therefore the supply chain encompasses not only raw
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 Ann Supply Chain Management Annotated Bibliography Chopra, S., & Meindl, P. (2010). Supply chain management: Strategy, planning and operation (4th ed.).Upper Saddle River, NJ: Prentice Hall The text by Chopra & Meindl (2010) is an excellent starting point for this discussion, primarily because it serves as a rather exhaustive introductory reading on the subject. Providing academic explanation of the basic premise of supply chain management and an extensive investigation of the
Supply Chain Performance Supply chain Indeed, comprehensive measures of supply chain performance including total chain cost can sometimes becomes difficult to develop due to the fact that as the product gets to be known within the market, there can be a fluctuation in demand with large decrease at some points. Supply chain metrics have been associated with internal logistics measures. Failure to have widely accepted definition for supply chain management as well