Supply Of Supply Chain Management Essay

Supply Of Supply Chain Management Essay

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Supply change management refers to managing materials and processes as they move from the suppliers of raw materials to manufacturers to wholesalers to retailers and finally to the customers. It involves managing the supply-side activities to gain competitive advantage and to increase customer value. It also involves coordination among different firms at different levels within the supply chain. A good supply chain management should be both economical and efficient. Supply chain management manages and controls the production, shipment or movement of products and their distribution processes. It consists of various aspects of a business including production, product development, and information systems required to manage the supply and distribution functions. Supply chain management enables companies to provide their products faster and make it available at all times at a lower cost. A proper supply chain management is the key factor for a company to stay competitive in the market. Poor management of supply chain activities can lead to several problems that may ultimately cause the firm to go out-of-business.
Gold Video: We have chosen a video related to Walmart’s supply chain management as our “gold” video. This video shows how Walmart, the multinational retail giant, manages its storage and supply of products and how it has gained great benefits by adopting and implementing an efficient supply chain strategy. Walmart is the world’s largest company by revenue and offers a variety of products, a range so wide that it would have been impossible for the company to manage its inventory without implementing effective strategies. Our gold video provides a sneak peek into the company’s inventory management and logistics processes, which ...


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...its customers. Thus, the execution of an effective supply chain strategy helps a firm create value and gain a competitive edge in the market.
Silver Video: We chose the second video as our “silver” video where it shows how a firm can benefit by understanding the basic processes involved in supply chain management. It highlights the fact that although technology plays a vital role in increasing the profitability of a firm, relying solely on technology might not be enough for running a business smoothly. A company must also take into account several factors such as optimal inventory levels, expanded product lines, reliable transportation networks, global supply channels, effective vendor negotiations and accurate demand forecasting to stay above its competitors in the market. The most important factor of supply chain management for a company is to forecast its product

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