Answered Essay: 1. Please define Supply Management, provide examples. 250 words (Minimum) 2. Please explain functions

1. Please define Supply Management, provide examples. 250 words (Minimum)

2. Please explain functions of Supply Chain. 250 words (Minimum)

3. Please explain importance of Supply Chain. 250 words (Minimum)

4. Please explain Supply Chain principles. 250 words (Minimum)

5. How to measure Supply Chain performance? 250 words (Minimum)

6. How to manage your team involved in the supply chain? 250 words (Minimum)

Expert Answer

1. Before understanding the concept of supply management, let us understand what a supply chain is. According to Stock and Lambert, Supply chain integrates the key business processes of an organization from end-user through original suppliers that provide products, services, and information that add value for customers and other stakeholders

As is clear from the above definition, a supply chain is a dynamic process in which various parties, such as suppliers and distributors, are involved in delivering products and services to fulfill customer requirements. Thus, in the absence of a supply chain, there would be disruptions in the flow of products and information.

As a supply chain plays an important role in the business of an organization, it is of utmost importance for the organization to effectively manage the activities involved in its supply chain. Supply management is an integrated process of administering the flow of information, material, and services through various stages of production with the aim of smooth delivery of the product in the market. According to Thomas and Griffin (1996), supply management is the management of material and information flows both in and between facilities such as vendors, manufacturing and assembly plants, and distribution centers.

Supply management involves a number of supply chain activities such as product development, sourcing, production, and information system management. Among these activities, managing information systems is the most important activity because all parties in a supply chain are connected through information flow. Without the provision of accurate and timely information, the entire supply chain system may collapse. Let us discuss the need and objectives of SCM.


The following are some of the important functions of supply management:

• To create value for customers: Supply management aims at creating customer value by establishing a market-driven customer service strategy on the basis of customer requirements. Creating customer value helps an organisation in retaining its existing customers and attracting new ones.

• To increase organizational responsiveness towards change: Organisations need to adapt to many changes with respect to the dynamic business environment, such as the advent of new technologies and changes in government policies. Effective supply management helps the organisation quickly respond to these changes.

• To reduce business risks: Many a time an organisation encounters various disruptions in its business network, such as natural disasters, cataclysmic weather, labor strikes, and supplier failures. These disruptions affect the smooth flow of products and services from the organisation to the market, which may lead to major negative consequences for the organisation in the market. A sound supply management network enables the organisation to reduce such risks by establishing backup plans.

• To enhance cost efficiencies: supply management helps in achieving cost efficiencies by reducing inventory carrying costs, minimizing labor expenses, cutting expenditures or freight spends, etc. In order to enhance their cost efficiency, organisations adopt various measures such as using contracts or a bid/proposal to obtain economic resources at the lowest possible cost.

Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.


Let us write that nagging essay.


Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.


Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.


Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.


Receive your Paper

After Editing, your paper will be sent to you via email.