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The Importance of Supply Chain Management

Supply chain management is a crucial aspect of any business. It involves the management of the flow
of goods and services, from the initial production to the final delivery to the end consumer. With the
rise of globalization and e-commerce, supply chain management has become even more critical in
ensuring the efficiency and success of a business.

As a result, many universities and colleges now offer courses and programs in supply chain
management. Students pursuing these degrees are required to write a thesis to demonstrate their
understanding of the subject matter. This thesis is a significant component of their academic success
and can greatly impact their future career prospects.

The Challenges of Writing a Thesis on Supply Chain

Management
One of the biggest challenges of writing a thesis on supply chain management is the vast amount of
information available on the subject. With the constant evolution of technology and business
practices, it can be overwhelming to keep up with the latest trends and developments in the field.

Furthermore, supply chain management is a multidisciplinary subject, incorporating elements of

economics, logistics, operations management, and more. This requires students to have a broad
understanding of various disciplines and the ability to integrate them into their thesis.

Additionally, writing a thesis on supply chain management requires a significant amount of time and
effort. Students must conduct extensive research, analyze data, and present their findings in a clear
and concise manner. This process can be time-consuming and stressful, especially for students who
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Cycle stock is inventory that results from batch processes. Impact of Green Supply Chain
Management Practices on Environment Performance. The following is a list of selected metrics of
environmental performance from the. By creating such a situation, citizens were encouraged to
become informers who were rewarded for revealing enemies of progress and setting an example of
civic morality. Should one use vertical marketplaces for auctions or should one invest in developing
highly integrated supply partnerships. This information can be compared to the metrics set for the
procurement and a decision can be taken. Even when decisions have to be made within the same ?rm
there could be incentive issues. Supply Chain Management is important for top management as it
allows an organization to distribute resources in the best way possible to ensure an organization
achieves its goals. Product designers, marketers, and manufacturers that were previously located in a
single facility are now spread over several continents in organizations with different cultures,
languages, and business objectives. Lean supply-chains reduce inventory cost but are more
susceptible to such shocks as natural disasters or global pandemics; technologies that enable
sophisticated pricing improve supply-chain efficiency but leave some customers crying foul; and
outsourcing creates global winners and losers as shifting jobs leave some without work (Johnson,
2006). Buy college papers for cheap and improve your grades. Industrial dynamics: A major
breakthrough for decision makers. With 20 years of progress, many of these manufacturers found
that the biggest challenges they faced in the new millennium were outside of their immediate
control, and solutions required better coordination with their upstream and downstream partners.
When this is done, organisations seek potential suppliers and invite them to bid for the procurement.
Traditionally, marketing, distribution, planning, manufacturing and purchasing operated
independently. Both business-to-consumer and business-to-business ecommerce environments have
introduced several issues related to supply chain management which are likely to be studied by
researchers in the near future. This is because the government would always want to use procurement
budgeting as a tool to promote its policies and promises to the people. Cross docking is a logistics
procedure where products from a supplier or manufacturing plant are distributed directly. Effective
supply chain management matches strategies to customer needs demands. Many people outside of
the direct community (in research and industry) do not realize this because an ordinary consumer
often experiences only its e?ects. For instance, the immense focus on packaging reduction can in fact
lead. This problem could result from holding too much stock of unpopular products or components
while stocking out of those in great demand. For example, a manager observing a small increase in
consumer demand decided to place larger than usual orders at the retailer’s distribution center.
Inventory helps companies achieve many different objectives including reducing costs, improving
customer service, and financial hedging against market uncertainties. Supply Chain Decisions: We
classify the decisions for supply. It will use the risk analysis and management framework to identify
the risks in the process and make recommendations on how the issues found there can be reduced.
The distributor may sometimes agree to that but in turn may want information about actual customer
sales which the retailer may not want to share. Because metrics are fundamental to business
management, there are many reading materials outside of the supply-chain literature, including
accounting texts. Order batching may also set the snowball rolling since changes in demand are
hidden in the large batches. The following methods were used to estimate the error associated with
each of the above.
A qualitative way to represent performance appears in Figure 40. We use cookies to create the best
experience for you. This is a very rudimentary but important stage in supply chain management
because it matches the resources available for the purchase with the strategy of the organisation and
then carves out an ideal supplier. A lack of sufficient distribution can result in higher costs, increased
waste, as well as customer dissatisfaction. The flexibility of the suppliers, in the face of change in
requirements by the customers, needs to be given importance as the contractor cannot keep the
goods in their inventory. In addition, the transportation function also provides a way of distributing
finished goods to stores and customers. We use cookies to create the best experience for you.
Clearly, there is incentive for the former to over-forecast and the latter to under-produce (as
compared to the forecast). Secondly, Strategic Supply Chain Management involves application of
various tactics that heave to be authorized by the top management. Shipment sizes (consolidated
bulk shipments versus Lot-for-Lot), routing. Several articles place importance on managing the
global supply chain management. On the other hand, we also must measure the costs of providing
the customer service—for example, the inventory holdings or transportation costs. These innovations
require interfirm, and often intrafirm, cooperation and coordination that can be difficult to achieve.
Procurement in the public sector comes with complicated internal and external requirements that
need to be considered before it can be authorised. A strong incentive and a method and specific
steps for implementation still remains to be researched. Supply Chain Decisions: We classify the
decisions for supply. You will then receive an email with further instructions. It is evident form the
discussion that supply chain management also entails how the company acquires and gets its input
factors supplied (Wincel,2004). The report finds that inventory product quality, as well as quantity
supply is crucial within organizations and can cause a lot of problems if not watched and dealt with
carefully. Also included are topics in warehousing and distribution such as cross-docking, vendor
hubs, and materials-handling technologies for sorting, storing, and retrieving products. When this is
done, organisations seek potential suppliers and invite them to bid for the procurement. With the
recent explosion of inexpensive information technology, it seems predictable that businesses would
become more supply-chain focused. Supply chain management is e?cient management of the end-to-
end process starting from the design of the product or service to the time when it has been sold,
consumed, and ?nally disposed of by the consumer. The company has an efficient and effective
operational process through proper management with good control and the analysis of processes.
When companies are able to optimize their supply chain, they’re able to find problems that occur in
the beginning and avoid them when it becomes necessary. Supply risk analysis is therefore vital to
identify the position of the business in relation to where it stands on the market for a given
procurement transaction in relation to the buyer-seller power situation. VBA programming was used
in this project to optimize the Simple. The first argument is that they are not completely the same
terms in operations because of the scope where utilized are different. Once the size, number, and
location of facilities is determined, that. This way, suppliers that bid can be graded and ranked in
relation to the needs of the buyer as well as in relation to other suppliers also bidding.
The distributor may sometimes agree to that but in turn may want information about actual customer
sales which the retailer may not want to share. Sometimes it is caused by supply-chain members
forecasting in isolation, as in the previous example. A Case Study of Quality Measurement System
on CSR Capability by Using DMAIC i. Both the articles have agreed that upon the fact that the
supply chain management shall be protective of share holder's stake, and the wealth of the
shareholder can be increased through alliances that diversify earnings. Free research papers are not
written by our writers, they are contributed by users, so we are not responsible for the content of this
free sample paper. The main challenge at this stage is that it is quite complicated to identify the best
metrics to use. What are the core competencies of the brand company. Secondly, Strategic Supply
Chain Management involves application of various tactics that heave to be authorized by the top
management. Empirical evidence is limited to approximately half of the articles, share of which is
frequently generated by quantitative approaches. Here, the firm selects some outlets to distribute its.
Research Proposal on Supply Chain Management 2019-01-28. The latter two factors generate large
orders that are followed by small orders, which implies increased variability at upstream locations. It
will also be easier for the company to eliminate waste by eliminating the inefficiencies that could be
occurring within their current system. If a procurement transaction does not provide these, it is seen
to be unacceptable in the public sector. It also includes the decisions related to which activities
should be performed. Some of the pertinent factors that complicate supply chain management
decisions are as follows. Ballou and Masters (1999) examine several software products that provide
optimization tools for solving industrial-location problems. STAGES IN SUPPLIER SELECTION
The main things organisations analyse and examine critically in supplier selection are quality,
reliability, price and other performance factors1. Business firms are paying their full attention
towards planning, controlling and designing of an efficient supply chain system. This change in
supply chain supply chain business process integration is more or less related to collaborative
ventures that businesses engage themselves in when dealing with buyers, suppliers, joint products
development, common systems and shared information (Net Coach, 2012). Additionally, conflicts of
interest and internal politics can lead the process to become ineffective, especially in a case here the
procurement team falls into groupthink. Warehousing operation This unit is structured to prepare
students in warehouse operations with a fundamental understanding of the supply chain. Large firms
today operate in global environments, deal with multiple suppliers and customers, are required to
manage inventories in new and innovative ways, and are faced with possible channel restructuring.
This problem could result from holding too much stock of unpopular products or components while
stocking out of those in great demand. Waste minimisation: Prompted by participation in the
voluntary Courtauld. In the end, firms often find that we can’t always supply whatever it is the
customers want. Upload Read for free FAQ and support Language (EN) Sign in Skip carousel
Carousel Previous Carousel Next What is Scribd. For example, if the ?nal demand for a sweater at a
store cannot be predicted accurately then the ?rm either stocks too little (in which case it su?ers from
stock-outs) or produces too much (in which case it has to salvage the inventory through a huge sale
at the end of the season). Some studies have found that ultimate individual consumer interest in the
environment and environmentally sound products is quite substantial, even though there has been a
slight decline over the years. These scores are summed up and the suppliers are ranked accordingly.
Students taking business-related courses are expected to know how supply chain management
works. Our objective is to provide an effective analysis to understand how Big Data Analytics
become even more valuable for better Supply Chain Management. Right now the approximate cost
of Greenville Tech is around twenty-five hundred dollars per a semester. The five basic components
of Supply Chain Management include, (Christopher Koch, 2002) (Carlo. However, innovative
products often yield higher product profit margins than functional products. How to schedule on a
manufacturing line to complete jobs on time. For example, a retailer may want that the distributor
provide very high availability for the products but at the same time not charge anything additional
from the retailer. There are many advanced texts specially dedicated to the modeling aspects of
location (Drezner, 1996), and most books on logistics also cover the subject. International journal of
applied sciences and innovation vol 2015 - no 2 -. Fortunately, as discussed next, the bullwhip can
be tamed through an integrative approach that employs timely information shared by supply-chain
partners and strong relationships that enable coordination. Apple Inc was able to develop a Supply
Chain Management that has been studied by most companies. So too stakeholder concerns on the
impact of large retail chains on the. The concept also generates demand through significant efficiency
and effectiveness principles. Large firms today operate in global environments, deal with multiple
suppliers and customers, are required to manage inventories in new and innovative ways, and are
faced with possible channel restructuring. The business' main suppliers are Brakes, Meadow Fairfax
and Trade team (Andersen, Strategic Supply Chain Management: Goose at the Garden pub in
Newcastle BY YOU YOUR ACADEMIC ORGANISATION HERE HERE HERE Strategic Supply
Chain Management: Goose at the Garden pub in Newcastle Business summaryGoose at the Garden
is the largest pub in Newcastle. These include fascinating initiatives such as supplier hubs managed
by third parties. This alternative involves all the possible outlets that can be used to distribute the
product. The function of decoupling inventory is to allow two different machines within a factory or
even two different factories to produce at different rates. Presenting events and facts one-sidedly,
overwhelming people with visions of a possible paradisiac socialist society, and appealing to
frustration created a confusing but conveniently manipulated context. For instance, Wal-Mart stores
reported an increase in inventory turns, decline in out-of-stock occurrences along with a renewal
cycle that has decreased from weeks to only hours as a consequence of an effective Supply Chain
Management. It can thus serve as a caution sign for decision makers. On the other hand, the private
sector is ran by funds from the owners or shareholders so there also, the supply need to conform
more with the desires of the shareholders (who are represented by managers). Many industries have
developed similar capabilities housed in industry exchanges (e.g., Exostar for aerospace and defense
or e20pen for high tech); and independent firms such as Ariba and Perfect Commerce provide tools
and services for e-sourcing. A strong incentive and a method and specific steps for implementation
still remains to be researched. Keep on browsing if you are OK with that, or find out how to manage
cookies. Everything is going wrong—despite substantial investment in inventory, we are losing sales
because of inadequate service. As a result, the consumer is disappointed when the product does not
arrive on time. With 20 years of progress, many of these manufacturers found that the biggest
challenges they faced in the new millennium were outside of their immediate control, and solutions
required better coordination with their upstream and downstream partners. Research Proposal on
Supply Chain Management 2019-01-28. What kind of visibility is provided to other entities in the
supply chain during execution.
The four-stage decision process described in Pyke 2007 will not eliminate the anxiety that workers
and managers may feel, but it should reduce it. It is evident form the discussion that supply chain
management also entails how the company acquires and gets its input factors supplied (Wincel,2004).
Does the plan respond adequately to competition, global trends, and specific corporate performance
targets. After some investigation, they found that the wide swings in demand were caused by the
ordering practices of retailers, wholesalers, and distributors. Even companies that have highly
specialized fields of expertise such as engineering and manufacturing can benefit from working
together with other interconnected companies. The VBA program applied trial span and alpha values
and evaluated. On the other hand, several ?rms realize that greater bene?ts can be attained if some of
these market places can in fact be used for process integration and collaboration across the supply
chain. TFC's management has recognized the opportunity which lies in expanding their product
portfolio to low priced product to cater to price sensitive audience. In many cases, customers are
opening assembly operations in China and requiring their suppliers to be nearby. More specific
measures of performance might help to reveal the underlying cause of the imbalance between
inventory and service. Students will also learn the role of managerial judgment in choosing
accounting estimates and methods ICT ICT refers to all communication technologies, including the
internet, wireless networks, cell phones, computers, software, middleware, video-conferencing,
social networking, and other media applications and services. Upload Read for free FAQ and support
Language (EN) Sign in Skip carousel Carousel Previous Carousel Next What is Scribd. Using
postponement, the product is redesigned so that it can be customized for local tastes in the
distribution channel. The difference between the two concepts is clearly shown. You can download
the paper by clicking the button above. For ones they can quantify, such as increased lead-time
variability, they adjust the relevant cost accordingly. It also enables the firm to establish a good
working relationship with channel members. We use cookies to create the best experience for you.
The first is the power shift from manufacturers to retailers. This unit is also taught in diploma in
business management, diploma in road transport and management, diploma in project and
management, diploma in clerical duties, diploma in investment management and diploma in human
resource management Elements of law Elements of Law is a unit offered in diploma in supply chain
management to equip learners with the right attitudes, knowledge and skills needed in the area of
labor laws. Supply chain management addresses issues such as production schedule, manufacturing,
quantity, transportation, production policies, regulations, production technologies, quality, material
selection, and laws. If a cost is too difficult to quantify, it is still prudent to include it in the list, even
without a specific number attached. Regardless of the cause, the end result is a greatly distorted
demand signal for upstream members of the supply-chain. The four-stage decision process described
in Pyke (2007) will not eliminate the anxiety that workers and managers may feel, but it should
reduce it. Some of the major ine?ciencies can be classi?ed into the following categories. Once the
size, number, and location of facilities is determined, that. This introduces complexities both in terms
of design and execution of supply chains. Selected measures and metrics must be implemented
within a framework much like the strategic. Abundant, accurate information can enable very efficient
operating decisions. It comprises all of the parties that participate in the retail logistics.