Global supply chain management are important to facilitate and manage offshoring projects. In order to create a high quality product we need an excellent manufacturing facility because it is the heart of any organization. Furthermore, supply chain manager would need to have a comprehension on cultures, regulations, currencies, technology infrastructure and resource available at the global level in order to better manage. Module eight is about socially responsible supply chain management. Global supply chain is the one that hole the key to solve problem in the businesses.
From the view of the knowledge-based point, it is necessary for specialization since bounded rationality is recognition that human mnd has limited capacity to acquire, store and process knowledge. The Characteristics of Supply Chain Managers Supply chain management (SCM) is an important matter in encounter many organizations besides act as an important area that helps improve competitiveness and profitability. Managing the supply chain has become a way of enhance competitiveness by minimize uncertainty and upgrading customer service. There are few firms which ar successful in achieving a higher level of performance even if they have lanched the supply chain management concepts (Titinan Nakornsri & Sang M. Lee). The several features of supply chain managers are the consistency of leadership when highly efficient companies benefit from consistency in their leadership and most of firms built supply chain orgnizations in the early 80s and have only had several supply chain leaders over the thirty years of process evolution.
Implementation of supply chain management strategies can be for easy of doing business as well as for competitive advantages in business. The planning tools pose challenges for supply chain managers and make increasing requirements on the strategic management expertise of today’s companies. Nowadays, the strategy of supply chain should focus on the trend of continuous globalization and the increasing volume of competition, the growing demands of security, environmental protection and resource scarcity and last but not least, the need for reliable, flexible and cost-efficient
INTRODUCTION The importance of the strategic management in today’s world is very vital. The dynamic changes in the business environment of every organization rapidly escalate than expected. Regardless of the market, the increasing complexity sets up new challenges for the management personnel that forces them to be in control. To achieve satisfactory results in such conditions requires effective strategic management. Generally, strategic management is based on setting an organization‘s long-term development direction.
1) Introduction Supply Chain Management is a concept that is gaining in importance and popularity. Organization progressively find themselves reliable upon having effective supply chains, and network in order to successfully compete in the global market economy (Lambert 2008). According to Wen(2007) the competition has increased from being between individual organization to being between supply chains. So now organization needs to understand how supply chain management can successfully applied in their organization (Steven Williamson, 2010). There is no universally accepted definition for Supply Chain Management, but the Council of Supply Chain Management stated that SCM is a process of " encompasses the planning and management of all activities
Introduction: Supply chain management: Supply chain is basically the management of the services and goods from the manufacturer to the end user (consumer). “OR” Supply chain is the management of the finished goods from the point of manufacturing (i.e. the industry) to the point of the consumption (i.e. the retailers). Main objectives of supply chain management: 1.
This requires leaders to allocate the necessary resources and to design the organization to bring the intended strategies to reality. As we will see in the next section, this is an ongoing, evolving process that requires a great deal of interaction among these three processes. Second, the essence of strategic management is the study of why some firms outperform others. Thus, managers need to determine how a firm is to compete so that it can obtain advantages that are sustainable over a lengthy period of time. That means focusing on two fundamental questions: How should we compete in order to create competitive advantages in the marketplace?
Strategic management can be characterised as the plan or set that coordinates organisation’s objectives, strategies, and resources into a firm entirety. Strategic management is a planned technique that helps the administration of the organisation to apportion organisation’s resources into an innovative and reasonable stance in light of its relative internal strength and weaknesses that might support or affect the business of the company in the competitive marketplace (Johnson, et al., 2014). According to Boyd, et al (2012), it is observed that strategies are formed and intended for the entire organisations by managers and executives, therefore, it can be said that the strategic management of the company flows from the top management towards
Supply chain management is critical to the company and very important part of it to keep the company healthy is free flow of finances in the company i.e. Financial Supply Chain Management. The ongoing practices in the companies clearly depicts a brighter future in the field of completely automated system, starting from order to replenishment to payments. Also the organizations should look out for the high potential opportunities for: 1) Reducing the processing costs 2) Reconciliation of invoice and accelerating payment process 3) Reducing the Days of Sales Outstanding (DSO) 4) Centralizing procurement process in order to have greater
This is clear indication of opportunity for enhancement of profitability of organisation. So it is worth studying about the supply chain management and its impact on profit. 1.4 OBJECTIVE OF STUDY To identify the process of the supply chain and its impact on profit. To know the policies adopted by the company regards to its supply chain. Gaining practical knowledge on the supply chain.