Answered Essay: Please summarize reading(s) for chapter 1 Two or three main points. The most interesting point in your opinion.

1.1 y Supply Chain Management A supply chain is ba

Please summarize reading(s) for chapter 1

Two or three main points.

The most interesting point in your opinion.

Anything you know that would help other students in this class to better understand the materials presented in this chapter (if any. Optional)

Anything that is confusing to you or you would like to know more about (Also Optional)

1.1 y Supply Chain Management A supply chain is basically a group of independent organisations connected together through the products and services that they separately and/or jointly add value on in order to deliver them to the end consumer. It is very much an extended concept of an organisation which adds value to its products or services and delivers them to its customers. But what is th enefit of understanding the value adding from the supply chain perspective? Why managing supply chain is becoming necessary and important to today’s business success? These are some of the fundamental questions that must be first addressed before discussing the “how to” questions Over the last three decades, the concept and the of business management have undergone profound changes and development. Many old ways of doing business have been challenged and many new ideas and approaches have been created, among them are business process engineering, strategic management, lean thinking, agile manufacturing balanced scorecard, blue ocean strategy, just to name a few. Supply chain management is undoubtedly one of those new and well grown management approaches emerged and rapidly developed across all industries around the world. The earliest appearance of the term “supply chain management as we know it today published in recognisable media and literatures can be traced back to the early 1980s. More precisely, it first appeared in a Financial Times article written by Oliver and Webber in 1982 describing the range of activities performed by the organization in procuring and managing supplies. However the early publications of supply chain management in the 1980s were mainly focused on purchasing ctivities and cost reduction related activities. The major development and the significant increases of publications in the areas of supply chain integration and supplier-buyer relationship came in 1990s when the concept as we know it today as gradually established It is therefore clear that supply chain management is not one of the legacy academic subjects existed for hundreds or thousands ears, but rather a young and even nascent subject. It is only recently that business world started making use of this concept. So, the question is “Why now?” A convincing answer to this question is that our business environment ha changed, which includes globalisation, more severe competition, heightened customer expectation, technological impact and geopolitical factors and so on. Under such a renewed business environment, an organisation focused management approach is no longer adequate to deliver the required competitiveness s must therefore understand that their usinesses are only part of the supply chains that they participated and it is the supply chain that wins or loses he competition. Thus, the arena of competition is moving from “organisation against organisation’ to ‘supply chain against supply cha The survival of any business today is no longer solely dependent on its own ability to compete but rather on the ability to cooperate within the supply chain. The seemingly independent relation between the organisations within the supply chain becomes ever more interdependent. You “sink or swim with the supply chain” It is for this reason that gives rise to the need for supply chain management

Expert Answer

The article or the chapter mainly describes about the key aspects of supply chain management.

SCM is an operational , strategic and tactical management practise which involves flow of goods, information and cash from one source to the other through various channels. It should be systematic and demand driven. The value generated through supply chain determines the quality of goods and services. Right time to right customer on right quantity needs a supply chain configuration, relationship and co ordination. Customer orientation is a prime goal for all supplychain practices. A supplychain starts from the origin( Supplier). Then it transfer the value to the next level which can be an OEM or manufactur plant. Once the raw material is converted to finish goods it is shifted to the warehouse or cross dock centres and then finally distributed to the direct customers. Value chain proposition is very important in SCM.

Flow can be in the form of material, information, finance and resources. SCM serves customers as an object it serves.SCM is used to fulilf the strategic outputs. Thus key supplchain functions such as transportation, warehousing and inventory management activities are carefully managed in it.

Most interesting point is Supplychain conceptual modelling.

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