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literature reviews on inventory management
theory of inventory management
theory of inventory management
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Executive Summary TradX is a company that aims to sell furniture to retailers and special targeted companies. By analyzing the case study, which is on TradX Company, we came up with two different work systems for the company's trade actions. The work systems are "Replenish Retailer Inventory" and "Direct Selling." Moreover, the performance variables for the business processes are discussed in detail in the report. The report then talks about how an introduction of electronic information system may affect TradX work systems. At the end, collaboration between processes in TradX has been discussed. Work System Framework A work system is a group of activities performed by people in the organization and it produces product(s) for customers. A work system framework consists of 8 elements that are essential in a work system. The diagram below clearly shows the various elements that make a work system . Customers are those who benefit from the business process whether directly or indirectly. The second part of the work system is Product & Services which are the outputs of the business process. Thirdly there is the Business Process itself and that is a set of steps performed to provide a good or service for the customers. Fourthly comes the Participants whom are the people involved in performing the business process. This is followed by Information and that is any type of data that is inputted or outputted into/out of the business process. Another part of the work system is the Technology and that is anything dedicated to the business process. Then Context follow which is anything (internal/external) that shapes the business process such as laws and regulations. Finally is Infrastructure which is anything (technology, informati... ... middle of paper ... ... between firm IT capability collaboration and performance',[online] Journal of Business Logistics, Oak Brook: volume 26,Iss.1, pg 1-24, [Accessed 10 26 2005]. [8] Simon McGinnes, 'Communication and collaboration: skills for the new IT professional', [online] could be requested from email:s.mcginnes@rhbnc.ac.uk,[Accessed 10 22 2005] [9] Steven, A.2002, Information Systems Foundation of E-Business, fourth ed., Pearson Education, New Jersey. [10] Togar M.Simatupang, Ramaswami Sridharan, 2005,' The collaboration index: a measure for supply chain collaboration', [online], International Journal of Physical distribution & Logistics Management, Vol. 35 No 1, pg 44-62, [Accessed 10 23 2005]. [11] Tricia Hyland, 2002 'Real collaboration remains elusive', Transportation & Distribution, [online], Clevelend Aug. Vol. 43, Iss.8, pg. 52-57, [Accessed 10 26 2005].
Workflow is a series of sequencial steps that take place, creating a process to complete a task. The process, generally speaking, involves two or more individuals and creates or adds value to an organization. Workflows are a standardization of work that takes into account quality, productivity, cost, safety and moral depending on the type of process flow (Liker & Meier, 2006). Workflow analysis includes observation and documentation of the process to better understand the current state. Viewing the current state, one can then begin to analyse the process, looking for opportunites of redesign, waste, and value added activities (McGonigle & Mastrian, 2012). “The focus in any process is always on creating
Collaborators: Collaborators are the distributors, wholesalers, retailers and supermarket chains. It deploys 23 distributors spread across the key provinces. Relationship management, recovery of dues and working capital flows are key concerns in distributor relationships.
3. FEMINIST THEORIES OF WORK ( add some theories from the book, such as sexual theory)
Kersten, W., & Bemeleit, B. (2006). Managing risks in supply chains: How to build reliable collaboration in logistics. Berlin: Erich Schmidt.
To design an efficient service, marketers and specialists in operations must work together. Process in goods production and services are different from each other. In production except for custom designed production, customer do not involve in the process other than opening the package. But the differentiating characteristic of the service is the extension of customer participation in the process of manufacturing and delivery service. In the services like real estate that there is a high interaction between customers and employees, also human resource specialists should cooperate. One of the clearest ways to describe service process is often to create a flowchart that presents different steps visually and in sequence. But a more sophisticated version of flowcharting is Blueprinting. The word blueprinting was used for the design for a new building or a ship that was captured on an architectural drawing. These blue printings shows what the product should look like and detail the specifications to which it must conform. But in the case of services, there is no tangible structure that makes them more difficult to visualize. A key characteristic of service blueprinting is drawing a line between “Front office” and “Back office” which is called “Visibility line”. Service blueprinting, clarifies the interaction between customers and employees and how these interactions are supported by additional activities and systems backstage, so service blueprinting can facilitate the integration between marketing, operations and human resource management.
The global economy in today’s world is very competitive and it’s difficult for the companies to survive in such large market. Globalization has drastically affected the companies, which resulted in their low phase. This report analysis, that the studied company Platinum Concept Pty Ltd is only familiar with the manual system in their working process and is not aware of new automated machines or computerized systems. Hence, it has affected its growth and attainment resulting in devolution. Moreover, this report suggests adoption of Business Process Management for Jim’s business to retrieve its position by substitution of current manual practices with hi tech processes, good strategy and more fitting management to go along with it. Thereupon, it will be a methodize and a well-structured company which will eventually boost their performance along with aid in developing and maintaining good relations with its customer’s and also to withhold the company’s brand name.
Most global corporations in today’s business world are focusing on their business process and ways to manage those processes in order to become successful and leverage themselves against competitors. The understanding is that efficient business processes are beneficial to the business in the long run when considering factors like cost reduction, meeting customer’s expectations and streamlining business operations to eliminate any loopholes that are detrimental to the business. Change (2016) defines business process management as an approach that focuses on workflow of the firm and in the process divulging any errors that may hinder good performance, hence, it is used to structure a firm’s workflow. Advances in technologies and modern business
The first hypothesis is firm collaboration will be positively associated with a reverse logistics competency. (Tyler R. Morgan, Robert Glenn Richey Jr, Chad W. Autry, 2015) The reverse logistics should benefit from the key relationships formed within the context of reverse logistics collaboration, given the joint information sharing that occurs. The second hypothesis is a firm’s level of IT competency has a positive moderating influence on the relationship between its collaboration and reverse logistics competency. (Tyler R. Morgan, Robert Glenn Richey Jr, Chad W. Autry, 2015) The third hypothesis is a reverse logistics competency will be associated with increased logistics performance. Base on article (Fugate et al., 2010) mention in research, logistics performance according to the literature, as the efficiency, effectiveness, and differentiation of firm-level logistics activities. (Tyler R. Morgan, Robert Glenn Richey Jr, Chad W. Autry, 2015)Reverse logistics practices can be seen as not only financially beneficial, but also as environmentally conscious, and as a result, stakeholders are sometimes pressuring companies to evaluate their supply chain as a potential avenue to address sustainability concerns. For example, cost reduction or reduced capacity utilization stemming from the recapture and reuse of returned components/ingredients can lead to greater customer fulfilment via product availability. Firms that can leverage collaboration to develop a reverse logistics competency are able to reduce, reuse, and recycle products in ways their competitors cannot, leading to a cost savings advantage and to an increased focus on service-related aspects such as fulfilment, thereby leading to greater levels of objective effectiveness. (Tyler R. Morgan, Robert Glenn Richey Jr, Chad W. Autry,
The systems theory can be a convenient way of thoughtful about the job of supervision. In real life situation it provides a framework for visualizing internal and external environmental factors as well as an incorporatedentire. It permitsacknowledgment of the proper place and function of subsystems. The systems inside which businessmen must run are necessarily complex. However, management via systems concepts fosters a way of thinking thathelps to dissolve some of the complexity and, in another side, helps the manager recognize the nature of the complex problems and thereby operate within the perceived environment. Especially it is important to recognize the integrated nature of specific systems, including the fact that each system has both inputs and outputs and can be viewed as a self-reliant unit. It is also important to distinguish that business systems are a part of larger procedures—possibly industry-wide, including severalcompanies and industries, even society all together. Further, business systems are in a constant state of change—they are created, operated, revised, and often eliminated.
#System Investigation - this involves the analysis of all areas of the business process. These investigations pursue the relationship and goals between the steps.
Trust is necessary for successful collaboration but we are suspicious of each other – For example sometimes partners are selected by the policy which may lead to lack of trust in each group.
The implementation of BPR using innovative application of information technology (IT) aims at flexible, team-oriented, and cross-functionally co-ordinated management. The significance of introducing Information Technology (IT) in BPR endeavour can be seen in Chen (2009) who found IT as a tool for business process specifically for operational perspective can dramatically change and improve business efficiency in connection with others such as customer, suppliers, partners and company
In the case, Marks & Spencer and Zara, it discusses two business process designs that each company took. You first had Marks & Spencer, who had a more traditional approach. Their chain started of with the buying team, design, developers, merchandisers, technologist, suppliers, logistics, and lastly the store. Zara, however, comes up with a new innovative design. With this new design in effect the delivery of new collections only has a lead-time of 5 days. They were able to cut down this time due to the fact that products where mainly produced on Galicia.
The key performance drivers of Supply Chain Management (SCM) are - facility effectiveness, inventory effectiveness, transportation effectiveness, information effectiveness, sourcing effectiveness, pricing effectiveness, delivery effectiveness, quality effectiveness and service effectiveness. These drivers include various performance markers that may be measured quantitatively by gathering information and applying them in SPSS. The works here may principally be quantitative with spellbinding measurable investigation. In the current world, practical supply chain management to help the triple primary concern, (nature, domain, and economy) is likewise included in the extent of supply chain performance drivers. This is relatively a quite new research region.
It is for the business to create work system, because it is ‘set of ideas for organizing a thought process about a particular type of thing or situation’ (Alter 2002 p. 45). A good framework is useful to understand a sense of other complexity and to identify topics and show how these topics are related.