ASSIGNMENT

Assignment



Assignment

Introduction

The term Supply Chain Management tends to be interpreted as the process of planning, execution and control in terms of reducing the flow of costs of raw materials, WIP, finished goods, services and related information from point of origin of the application to the point of consumption (including imports, exports internal and external displacement). Moreover, the mechanism of the Supply Chain Management intends to achieve the customer satisfaction. The essence of the concept of "supply chain management" is to examine the logistics operations throughout the entire product life cycle, the development, production, sales of finished products and after sales service (Anupindi & Akella 2003, pp. 944-963). In the light of the research it would be safe to state that supply chain management is a business strategy that ensures effective management of material, financial and information flows to ensure synchronization in distributed organizational structures (Tirpak, Miller, Schwartz & Kashdan 2006, pp.93-101).

Moreover, Supply Chain Management is designed to automate and place an effective control on all stages a company tends to pass through inculcating the control of goods movement in the enterprise. Supply Chain Management intends to meet the demand and effectively manage the company's products and significantly reduce the cost of logistics and procurement. Supply Chain Management encompasses the entire cycle of raw material purchasing, production and distribution of goods. Supply chain management (SCM) is a term applied to a management philosophy and to the practices involved in implementing a SCM philosophy, although it can also be used to describe management processes that are not necessarily rooted in a guiding philosophy. SCM, which gained prominence as outsourcing become prevalent in the 1990s, brings together and extends the concerns of total quality management (TQM) and just-in-time (J-I-T) management techniques that preceded it.

A supply chain, considered as a system, can also be described as a distributed network or channel through which information, materials, labor, equipment, and currency flow. Though supply chains themselves are not new, four major developments forced thinking about them differently than in the past. The first motivating force came from the communications technology advances that forever changed the span of the marketplace for both the producer and the consumer. The second was the trend toward outsourcing in general, and global outsourcing in particular, which the information age enabled. The third was the increasing importance of timeliness in the marketplace. The fourth was the increasing emphasis placed on quality in all aspects of production and delivery. Thus, in the context of the paper we intend to shed light on different aspects of Supply Chain management in relation to Tate and Lyle. Different aspects need to be inculcated in order to develop a proper understanding of the subject.

Part A

This section of the paper tends to shed light on the fact that why Tate and Lyle tends to adopt a certain style of managing their inventory. However, in the modern world the importance of the inventory management cannot be overlooked since it tends to drive the profits of the ...