Supply Chains and Inventory Management

1159 Words3 Pages
bulb-icon

Recommended: Importance of value chain management

Supply Chain and Inventory Management December 6, 2008 Supply Chain and Inventory Management With the increased globalization, competition and complexity in global supply chains, more companies have realized that supply chain management is critical to the optimal organizations overall operation. It is no longer just the responsibility of the warehouse manager and logistics director (Pundir, 2008 and Wharton). In the past, many organizations didn’t manage their supply chains they left that up to the suppliers. Usually the supply chain planning, marketing production and inventory management in most organizations operated as separate departments (Stevenson, 2007). Businesses have recognized the strategic importance and the need for effective and efficient supply chains in operations management (Stevenson, 2007). This paper will deal with quality issues, the importance of operations management collaborating with supply chain, and inventory management. Coordinating the transport of supplies, information technology, services and products between suppliers and partnering businesses within an organization is what supply chain management is all about (Alade, 2004). In today’s world the customers are more demanding and businesses are working hard to meet those demands. The customers want more styles, better quality and longer lasting products and they want them fast. The only way that organizations can delivery is by insuring that their supply chains are aligned with the operations of the organizations. In order to align the supply chain with the organizations operation they must first make sure the supply chain is included in the strategic decisions process along with the senior executives in the organization (Rees... ... middle of paper ... ...ategies. Supply Chain Management Review, 11(8), 44-50. Retrieved December 6, 2008, from Business Source Complete database. Pundir, A. K. (2008, November). Increasing importance of supply chain. The Financial Express, Retrieved December 6, 2008, from Business Source Complete database. Reese, A. (2006, December). Making supply chain matter. Supply & Demand Chain Executive, 1(8), 25-27. Retrieved December 6, 2008, from Business Source Complete database. Stevenson, W. J., (2007). Operations management (9th ed.). New York. McGraw-Hill Companies You can’t manage what you can’t measure’: Maximizing Supply Chain wharton.universia.net/index.cfm?fa=viewArticle&id=124language=English&specialld= Quinn, Q. (2000, January). Quantifying the benefits of SCM. Logistics Management & Distribution Report, 39(1), 30. Retrieved December 6, 2008, from Business Source Complete database.

Show More
Related

  • military supply chain

    1297 Words  | 3 Pages

    Ewalt, D. M. & Hayes, M., (2002, Sep 30). Supply-chain management: Pinpoint control InformationWeek. Manhasset, 16-19

    Read More

  • Wal Mart's Supply Chain

    1889 Words  | 4 Pages

    A supply chain is a system through which organizations deliver their products and services to their customers. The network begins with the basic ingredients to start the chain of supply, which are the suppliers that supply raw materials, ingredients, and so on. From there, it will transfer the supplies to the manufacturer who builds, assembles, converts, or furnishes a product. The chain now needs to get the product to the consumer by transporting the finished product from the manufacturer through a warehouse or distribution center. An example is that Wal-Mart has a nearby distribution center where products are delivered there and then split up to be delivered to a retail Wal-Mart. “Wal-Mart will take responsibility for breaking down larger loads and delivering the product to other Wal-Mart stores” (Ehring 1).

    Read More

  • Somerset Case Analysis

    834 Words  | 2 Pages

    The furniture company Somerset needs to retain its customer service record and remedy any of its global supply chain issues before it has an adverse effect on the brand and start losing customers. With a frequent change in the product catalog, keeping an excessive inventory will cut its profit and some of the product may become obsolete even before the furniture hits the retail outlet stores. In order to achieve profit and success, business employee many strategies and the supply chain strategy are one of the operational management techniques that use analytical decision making process to achieve the company goals and provide tools to effectively compete in the market (Taylor and Russell, 2014).

    Read More

  • Improving Operations at Space Age Furniture Company

    3029 Words  | 7 Pages

    As competition increases within organizations of similar markets, seeking ways to improve overall operations of a business is imperative. Businesses strive for development and that can be done by constructing an effective and efficient supply chain and inventory managing system. Supply and inventory management must be regulated by both the suppliers and the leadership teams of an organization, but primarily the organization being that they know exactly what products are needed for production. Planning, scheduling, forecasting and knowing an entities consumer demands are some qualities that can pursue a business with managing these operations. Organizations must assure its operations are sufficient to the point

    Read More

  • Economic Order Quantity Model Of Inventory Management Case Study

    905 Words  | 2 Pages

    (1999).Advanced supply chain management: How to build a sustained competitive advantage. San Francisco, CA: Barrett-Koehler Publishers, Inc.

    Read More

  • Pampers Case Study

    925 Words  | 2 Pages

    Supply chain management has been defined as that process that involves the management of information, materials, and all the finances that are handled within and across the entire supply chain process (Christopher, 2016). The management is usually done through out the entire supply chain management from that moment when the suppliers are involved through all the manufacturing activities, different distribution activities, and the way that the products are served to the final product consumer (Turban, et al., 2002). The process also includes all the activities that different organizations offers to their customers as after sale services for purposes perfecting their services and products towards their highly valued customers (Christopher,

    Read More

  • Supply Chain Management in the New Millenium

    1573 Words  | 4 Pages

    It has become apparent the effects of globalization has changed the marketplace so much in the past few decades that a much faster response is demanded from producers and their supply chain. This is done by effective supply chain management, which is the integration of key business processes acrosss the supply chain within organisiations. The objective of this is to create a system of best value for the entire supply chain including the consumer. In recent years, many firms have realised the importance of the optimization and streamlining of the supply chain management processes, it has since become the focus for many firms.

    Read More

  • Inbound Logistics Case Study

    1043 Words  | 3 Pages

    Today’s organizations are faced with increasing levels of global competition, customer’s demanding value for their money and high stakeholders expectations on investment returns. Gattorna (2003), notes that firms are now pursuing supply chain management as a strategy to competitive advantage. Firms in a supply chain relate, transact, and partner on different levels; from product design and development to product delivery. Through supply chain management a firm pursues value creation through timely product delivery, cost management, inventory control and customer service (Beamon, 1999).They do so individually or through synergies formed with other organizations to increase customer service

    Read More

  • Walmart Inventory Management Case Study

    1260 Words  | 3 Pages

    Inventory management is a method through which a business handles tangible resources and materials to ensure availability of resources for use. It is a collection of interdisciplinary processes including a full circle of the demand forecasting, supply chain management, inventory control and reverse logistics. Inventory management is the optimization of inventories of manufactured goods, work in progress, and raw materials. According to Doucette (2001) inventory management can be challenging at times; however, the need for effective inventory management is largely seen more as a necessity than a mere trend when customer satisfaction and service have become a prime reason for a business to stand apart from its competition. For example, Wal-Mart’s inventory management is one of the biggest contributors to the success of the company; effective and efficient inventory management is of critical importance.

    Read More

  • Supply Management and Value Added Processess

    1461 Words  | 3 Pages

    Van Weele, A. (2009): Purchasing and Supply Chain Management: Analysis, Strategy, Planning and Practice, Cengage Learning Business Press.

    Read More

  • Supply Chain Management: The Background Of Inventory Management

    825 Words  | 2 Pages

    Essentially, the world is a large supply chain. The main problem involved in supply chain management which including the fast growth of multinational organisations and partnership in the strategic alliance ways; world enlargement and procurement; variation in the price of natural gas and environmental issues, these issues have the symbolic impact on organisation strategy and the bottom line. The reason for these rising direction, supply chain management is the most important commercial guideline in the global today (University of San Francisco,

    Read More

  • The Benefits Of Supply Chain

    955 Words  | 2 Pages

    A supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products, and deliver the products to customers through a distribution system [1]. The basic objective of supply chain is to “optimize performance of the chain to add as much value as possible for the least cost possible.

    Read More

  • Toyota Supply Chain

    2794 Words  | 6 Pages

    Generally, a superior supply Chain is an important and unique source of competitive advantage. Its importance is especially illuminated in Multinational companies such as Toyota. Putting this into consideration, the question that now begs for an answer is whether Toyota’s supply chain is effectively serving the organization. Without a doubt, Toyota ha...

    Read More

  • Dell's Competitive Strategy

    2470 Words  | 5 Pages

    19. Sodhi, Sunil Chopra and ManMohan S. Managing Risk to Avoid Supply Chain Breakdown. MITSloan Management Review. [Online] October 15, 2004. [Cited: February 25, 2010.] http://sloanreview.mit.edu/the-magazine/articles/2004/fall/46109/managing-risk-to-avoid-supplychain-breakdown/.

    Read More

  • Operations Management: McDonald's Competitive Advantage

    3031 Words  | 7 Pages

    Coyle, J., Langley, C., Gibson, B., Novack, R. and Bardi, E. (2008).Supply Chain Management: A Logistics Perspective. 8th ed. Cengage Learning, p.366.

    Read More

More about Supply Chains and Inventory Management

Open Document