Managing Uncertainties In Supply Chain Management
INFORMATION SHARING AND COORDINATION MECHANISMS FOR MANAGING UNCERTAINTY IN SUPPLY CHAINS: A SIMULATION STUDY
INTRODUCTION:
Supply chain management has exponentially grown and evolved in the past decade and this evolution has been a hub for attraction and motivation for researchers and academicians. Supply chain practices followed in industries have a complex framework with umpteen number of activities in place. This ranges from logistics, inventory, purchases, procurement , production planning, demand forecasting and a lot more. There are more blocks to supply chain like selection of suppliers, service providers, vendor relationship, vendor and supplier performance matrices which complicates the process. These process are both inter and intra
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As firms move towards lean models uncertainty is growing both in demand and supply and makes the SC network more complex. Coordination becomes essential as every stage in the making of product in the SCM is interdependent each having different objectives, and act in way that leads to the global system they are part of.
Researchers have identified different levels of information sharing and coordination. One is where no information sharing or flow coordination happens in the SC network. Here each entity of SC networks acts on their own self-interest with local available information. The other extreme is where perfect coordination and information passing is passed in which leads to a defined decision making process. Between these two extremes lie a spectrum where multiple level of information sharing and coordination happens.
Researchers suggest that a centralized information structure without widespread distribution and coordination of the same is not effective in managing uncertainties. Similarly coordinating materials flow without information sharing is also not capable enough to handle uncertainties in supply chain. Hence a central flow of material with proper coordination and sharing of information is necessary to manage the uncertainties pertaining to supply
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