THE RELATIONSHIP BETWEEN SUPPLY CHAIN MANAGEMENT PRACTICES AND SUPPLY CHAIN EFFICIENCY FACTORS

Abstract

Supply chain management has become a highly important aspect of organizations today. The purpose of the study is to understand the relationship between supply chain management practices and supply chain efficiency factors. The study addressed the existing gaps in the literature by studying the impact of effective supply chain management practices on supply chain efficiencyPrimary analysis was usedThe current supply chain management practices are focusing upon maintaining minimum inventory so that costs can be minimized. The study indicated that the right combination of efficiency and responsiveness in the supply chain is achieved through the right supply chain management practices. It is highly important to highlight that supply chain efficiency can be achieved through these five key areas of supply chain management.

ACKNOWLEDGEMENTii

DECLARATIONiii

CHAPTER 1 INTRODUCTION1

Introduction to the Problem1

Background of the Study1

Statement of the Problem2

Purpose of the Study2

Rationale3

Research Questions3

Significance of the Study3

Assumptions and Limitations4

Nature of the Study (Theoretical Framework)4

CHAPTER 2: LITERATURE REVIEW5

Understanding Supply Chain Management Practices5

Supply Chain Efficiency Factors6

Cost Effectiveness6

Flexibility7

Effective Risk Management7

Effective Communication7

Impact of Micro and Macro Factors on Supply Chain Efficiency8

Macro Factors8

Political Factors8

Economic Factors9

Cultural Factors9

Legal Factors9

Technological Factors10

Micro Factors10

Internal Strengths10

Costs and Resource Management11

CHAPTER 3: METHODOLOGY11

Justification for Chosen Method11

CHAPTER 4: DISCUSSION AND ANALYSIS11

CHAPERTER 5: CONLUSION16

CHAPTER 1 INTRODUCTION

Introduction to the Problem

Supply chain management has become a highly important aspect of organizations today. In order to achieve supply chin efficiency, effective supply chain management practices are required. Supply chain management deals with the process of planning, managing, organizing, and controlling the supply chain activities and processes. The key areas of supply chain management are procurement and production, inventory, location, information, and transportation. Supply chain management practices playa highly important role in ensuring supply chain efficiency. Supply chain efficiency can only be derived through the assessment of internal and external forces in the environment. Supply chain management practices are developed and implemented by the organization when the internal and external forces affecting the supply chain are identified. As per Dyckman (2011), in the present-age, there is intense competition in the global markets and hence higher risk and uncertainty. The supply chain risk management has emerged as the most effective supply chain management practice. According to Smita & Sheila (2002), there are several factors of supply chain efficiency. These supply chain efficiency factors are the keys to achieve long-term sustainable competitive advantage.

Background of the Study

Supply chain management practices play a highly important role in today's organizations. In order to achieve organizational success, effective supply chain management practices are highly important. By the passage of time and increasing pace of globalization, the need for effective supply chain management practices has increased dramatically. As per Enyinda & Gebremikael (2010), the need for having effective and efficient supply chain networks has become important due to globalization. The management of supply chains across the globe is a challenging task. International organizations have to manage their global supply chain network where coordination, management, and communication are required to achieve supply chain efficiency and effectiveness.



Statement of the Problem

The problem ...