Supply Chain

Abstract

In this study we try to explore the concept of “Supply Chain” in a holistic context. The main focus of the research is on “Supply Chain” and its relation with “Business Strategy”. The research also analyzes many aspects of “Operational Management” and tries to gauge its effect on “Competitive Advantage” for a firm. Finally the research describes various factors which are responsible for “topic” and tries to describe the overall effect of “Efficient Operations of Supply Chain” on “Business Performance”.

Introduction

Definition and Importance of Supply Chain Management

The concept of supply chain management (Supply Chain Management, SCM) emerged from the need to integrate the crucial activities and “cost drivers” such as procurement, production, distribution, sales, marketing and forecasting in a harmonious "ecosystem" that includes both providers and customers. SCM is considered as a mean of consistency and uniformity in the actions of all stakeholders in a given business, which helps them to meet the needs of consumers of the end product, that is why it is very important for business world as it facilitates smooth functioning of a business by streamlining and harmonizing all the crucial activities of the business. The prospect of integration is all the more tempting for the business world as it not only reduces the overall cost of producing and delivering products and/or services to end consumer, but also brings co-ordination of efforts and transactions between the stakeholders i.e. the parties involved (suppliers, manufacturers etc.). The point of interaction of customers and suppliers formed along the length of the supply chain. Manufacturers are able to regularly report to distributors and channel partners on product availability, delivery plans, and changes in the product range etc. and based on the projections, channel partners can inform producers about the requirements of customers. Thus, through supply chain management, partners will always have accurate information on which they can make informed decisions that can bring benefits to all parties, including the eventual customer(Chopra & Meindl, 2010).

Discussion

(B) Steps of the Creation of a Project Supply, Service, and Material Budget

Today business environment is highly competitive and characterized by rapid changes wherein, new technologies are running the show and constantly filling the business environment with more uncertainty. This means the primary focus for building a supply chain must be on the performance and efficiency of all the stakeholders and partners involved to ensure the availability of relevant information to all the “partners”. Linking all the partners must be the first step and to ensure their success on this very first step, companies can build on the advantages of Internet for transforming their supply chain and to ensure full cooperation of the participants effectively and efficiently. For clarity's sake, we have assumed a hypothetical company which is in the parcel and package courier delivery business and built its supply chain processes and strategies.

Flock Delivery Services (FDS) has just gone into business of parcel and package courier delivery service. Before the coming of FDS, deliveries are not on time, parcels and packages are poorly handled without proper ...