Theory Of Supply Chain Essay
3.THEORETICAL BACKGROUND OF THE STUDY
1.1 MEANING OF SUPPLY CHAIN
Supply chain consist of all parties involved, directly or indirectly, in fulfilling a customer request. The supply chain includes not only the manufacturer and suppliers, but also transporters, warehouses, retailers and even customers themselves. Within every organisation, such as manufacturer, the supply chain includes all functions involved in perceiving and fulfilling a customer request. These functions include, but not limited to, new product development, marketing, operations, distribution, finance and customer service.
Supply chain is dynamic and involves the constant flow of information, product, and funds between different stages. The primary purpose of any supply chain is to satisfy customer needs and, in the process, generate profit for itself. The term supply chain conjures up images of product or supply moving from suppliers to manufacturers to distributors to customers along a chain. This is certainly part of thesupply chain, but it is also important to visualise information, funds and and product
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These decisions should enhance the supply chain value. These decisions are categorised into three phases:
1. Supply chain category or design:
In this phase, company decides the structure of the supply chain for the upcoming years. It decides how will be the configuration of the chain, how to allocate the resources and the process that to be performed at each stage. Here, the companies may think the option of whether to outsource or perform a supply chain function in-house, the location and capacities of production and warehousing facilities, the products to be manufactured or stored at various locations, the modes of transportation to be made available along didderent shipping legs, and the type of information system to be utilised.
2. Supply chain
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723 Words | 3 PagesTop managers, supervisors and key personnel will be assessed based on case findings. 5. Gathering Internal Data for Review: • Upon completing interviews, relevant data on supply chain management, operations management, finance and economics, HR, and IT activities of the organizations will be reviewed. 6. Strategies and Analysis: • Integrating information, which was collected in all the previous stages, finding out the gaps between current activities and: a) Supply chain management.
Supply Chain Management Case Study Trader Joe's
708 Words | 3 PagesTrader Joe 's is a developing chain of supermarkets with a distinction. Whilst not a gigantic chain store, Trader Joe 's accentuates little stores which offer a choice of merchandise hard to discover somewhere else at lower costs. The way that quality merchandise come at such low costs is only one motivation behind why the Trader Joe 's organization has turned out to be so fruitful. From humble beginnings, the organization has now developed into a multi-billion dollar monster.
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159 Words | 1 PagesFollowing the exploration of the supply chain strategies of Target Corporation, I proposed a model that would help in improving the efficiency of the company. Electronic Invoice Presentation and Payment (EIPP) and Electronic Invoice Presentation will improve the efficiency of the company through framework that allows for preparation of budgetary streams and data errands in real time (Mangan & Lalwani, 2016). The strategy will allow Target Corporation to make use of broader measures that include fill rate, item accessibility, stock esteem, on the rack, the money-to-money cycle, on-time-conveyance, as well as the stock administration of the bend. Implementation of the model will help in the speedy delivery of products to the stores and subsequently
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Target Corporation Swot Analysis Paper
661 Words | 3 PagesTarget corporation has many different location-related decisions to process in more than one aspect. The company must decide on the location of its retail stores, manufactures, and support help. Often the decision to outsource or participate in offshoring can be tempting to a company. Well the impact of outsourcing and offshoring must be examined to ensure that the decision is in the best interest of the company.
13 Project Management Plan
722 Words | 3 Pages13 PROCUREMENT MANAGEMENT PLAN Under the Monrovia Ultra-Modern Market (MUMM) the Project Manager will be responsible for the oversight and supervision for all procurement related activities. For a successful end of the MUMM project the Project Manager will coordinate with the team to identify items to be procured. The office of the Project Management will review the list of items to be procured and further submit to the supply chain department. Supply chain than review the listing of items to be procured and coordinate with the program team to begin the procurement processes.
An Inside Look At Target's Procurement Process
1144 Words | 5 PagesThe planning section would involve budgeting, the sourcing strategy, the outsourcing strategy, sales and operations planning, and forecasting (South University Online, 2015). The source would involve the types of materials that Target uses, the ordering of these materials and the delivery. The make aspect would involve the production, manufacturing and quality of the goods (South University Online, 2015). The deliver portion of this model would pertain to the ordering taking and shipping of all of Targets goods. Well the return process would involve both supplier return and dealer/customer return (South University Online, 2015).
Lululemon: Management Information System
764 Words | 4 PagesVocollect Voice technology is helping them save time and cost as shipments will be organized automatically in stores and distribution center, via the technology just by giving voice commands to the system. b) Management Information system: Lululemon using product life management system is helping them analyze their product life cycle efficiently. It is easier to assess which product stands where and what marketing strategies they need to conduct in future to increase the sales for the particular product. Question C Supply Chaining: Creating yoga lines is an example of supply chaining. As they must have given production unit to a specific supplier which produces all the clothing supplies for Lululemon Outsourcing: Lululemon using Vocollect voice technology is an example of outsourcing as they are using their services via their networks in order improve communication and speeding up the process in their distribution centers
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Offshoring Case Study
846 Words | 4 PagesWhen corporations outsource, they first research if this action can reduce costs, as seen above. Thus they estimate the unit production cost and ocean-shipping cost (Hummels, 2007). The problem begins as supply chains extends while direct, indirect, and hidden costs incur (Stalk & Waddell, 2007). The authors explain that direct and indirect costs include shipping, nesting and de-nesting of containers at both ends of the ocean pipeline, inventory storage, handling, procurement, insurance, and overall financing. These costs can eventually add up to as much as 4 to 8 percent of retail shelf costs.
Advantages And Disadvantages Of Supply Chain Management
771 Words | 4 PagesThe best companies in the world are discovering a powerful new source of competitive advantage. It's called supply chain management and includes all onboard activities that bring products to market and satisfied customers. The Supply Chain Management program covers topics from manufacturing operations, transportation, purchasing and physical distribution for a single program. Coordinated the successful management of the supply chain and all these activities integrated in a continuous process.
Burger King Supply Chain Analysis
1626 Words | 7 PagesBurger King (BK) is an American global chain of hamburger fast food restaurants. Headquartered in the unincorporated area of Miami-Dade County, Florida, the company was founded in 1953. Burger King 's menu has expanded from a basic offering of burgers, French fries, sodas, and milkshakes to a larger and more diverse set of products. In 1957, the "Whopper" became the first major addition to the menu, and it has become Burger King 's signature product since.
Pizza Hut Supply Chain Analysis
2323 Words | 10 PagesIn addition to this the above strategies ensure that most of the goods are procured locally, a chain of local suppliers is formed which reduces the overall cost. A survey states that pizza hut procures 95% of its raw material locally hence, enhancing its relationship with various local suppliers, reducing the prices significantly and managing the supply risks and challenges. 2.2 Use Information Technology to create strategies to develop your chosen organization’s relationship with its suppliers. (Criteria 2.2: Use information technology to create strategies to develop an organization’s relationship with its
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807 Words | 4 PagesSupply Chain Management (SCM) department encounters a number of different stakeholders. Many different working relationships take place within each individual work on, from colleagues to clients, stakeholders, and suppliers. The internal supply chain that delivers the service is complicated and requires the co-ordination and co-operation of individuals and teams who have different skills and priorities. Hence, understanding stakeholder needs and working effectively with them is critical to the success of the procurement team. Cleland (1995: 151) recognised the need to develop an organisational structure of stakeholders through understanding each stakeholder’s interests, and negotiating both individually and collectively to define the best way
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