Supply Chain Management Refers To A Relatively New Business Phenomenon

31 Definition of supply chain management The term supply chain management is relatively new. A phenomenon called the bullwhip effect is regarded as one of the forces that paralyse supply chains Lee Padmanabhan Whang 2004a.

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One of the most fundamental yet more challenging requirements for supply chain integration is changing the nature of traditional relationships between suppliers and customers in the supply chain.

Supply chain management refers to a relatively new business phenomenon. For example at the 1995 Annual Conference of the Council of Logistics Management 135. Supply chain management SCM is the centralized management of the flow of goods and services and includes all processes that transform raw materials into final products. Because each individual business has its own needs a one-size-fits-all supply chain solution doesnt exist.

A strategy for how the supply chain will function in its environment to meet the goals of the organizations business and organization strategies. In some supply chains the bullwhip effect can drive 13. SRM is infact a type of relationship management which affects all areas of the supply chain and has a dramatic impact on supply chain performance.

To quickly adjust to sudden disruptive changes that negatively affect supply. However there is a hidden inhibitor in all competing supply chains. Although supply chains have been used since the 1940s many aspects of modern supply chains are still based on theories or relatively new methods.

Cohen Lee 1988 succeeded in defining a clear description of supply chain management. It first appeared in logistics literature in 1982 as an inventory management approach with an emphasis on the supply of raw materials. While the above sequence of business processes describes a supply chain supply chain management refers to planning design and control of the flow of information.

Supply chain management and control people can discover the potential business opportunities on the market on the other hand is to prevent market uncertainty enhance risk of smell. Associated with the phenomenon referred to in contemporary business literature as Supply Chain Management SCM. Supply chain resilience refers to the ability of a given supply chain to prepare for and adapt to unexpected events.

They clarify that supply chain management consists of both intra- and inter related business activities of a focal company. Supply Chain Management SCM involves managing the movement of goods and services and related processes to convert inputs into outputs meeting customer demands efficiently timely. Supply chain is defined as all the activities involved in delivering a product from raw materials to the customer including sourcing raw materials and parts manufacturing and assembly warehousing and inventory tracking order entry and order management.

3 What is supply chain management. Supply Chain Strategy or Strategic Supply Chain Management is defined as. The term Supply Chain Management is relatively new.

The term supply chain management has risen to prominence over the past ten years Cooper et al. It first appeared in logistics literature in 1982 as an inventory management approach with an emphasis on the supply of raw materials Oliver and Webber 1982. Involved in global sourcing such as global supply chain management and formulating criteria for supplier selection.

4The implementation of supply chain management and control can respond effectively to market uncertainty. Also because global sourcing is a relatively new phenomenon for Chinese companies there is a serious lack of personnel knowledgeable about the subject. Material flow in this highly complex supply chain billions of dollars can be lost in the form of stockouts defects mark-downs and inventory costs.

The descriptions of supply chain management remain vague since it is not clear what is meant by business activities.

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