The broad objectives of Supply Chain Management are to
create value, build a competitive infrastructure, leverage worldwide logistics, synchronise supply with demand and measure performance
.
What are the strategic goals of supply chain management?
The Importance of Supply Chain Management
These strategic goals include
ensuring efficiency, improving quality, and optimizing transportation
. These goals will help you reduce costs, increase efficiency and profits, and can even help you gain a competitive advantage within your industry.
What is a goal of supply chain?
The primary purpose of the supply chain is
to fulfill demand, drive customer value, improve responsiveness, facilitate financial success and build a good network
. Most primary goals of efficient supply chain management should be – faster delivery, Higher efficiency, and an accelerated cash flow.
What are the four 4 stages of supply chains?
There are four customary stages in a product's life cycle:
the introductory phase, the growth phase, the maturity phase and the decline phase
. Each phase is markedly different and often requires different value chains. Supply managers need to craft supply strategies that reflect the unique needs of each phase.
What are the five 5 basic components of supply chain management?
The Top-level of this model has five different processes which are also known as components of Supply Chain Management –
Plan, Source, Make, Deliver and Return
.
What are the types of supply chain?
- The “Efficient” Supply Chain Model. …
- The “Fast” Supply Chain Model. …
- The “Continuous-Flow” Supply Chain Model. …
- The “Agile” Supply Chain Model. …
- The “Custom-Configured” Supply Chain Model. …
- The “Flexible” Supply Chain Model.
What is the first step in choosing a supply chain?
- Choose Your Inventory Assortment. This is where your genius as a founder comes in. …
- Forecast Demand. …
- Size Your Inventory Buys. …
- Track Your Purchase Orders. …
- Track Your Inventory. …
- Understand Your Inventory Position. …
- Fulfill Your Orders.
What are the features of supply chain management?
- Ability to integrate throughout the supply chain. …
- Real-time and collaboration capabilities. …
- Process optimization abilities. …
- Analytics and forecasting. …
- Customization. …
- Cloud-based access and mobility. …
- Security. …
- Scalability.
What are the four foundational areas of supply chain management?
There are four major elements of supply chain management:
integration, operations, purchasing and distribution
. Each relies on the others to provide a seamless path from plan to completion as affordably as possible.
What is an example of a supply chain?
A supply chain is comprised of all the businesses and individual contributors involved in creating a product, from raw materials to finished merchandise. … Examples of supply chain activities include
farming, refining, design, manufacturing, packaging, and transportation
.
What are the six components of supply chain?
- Strategy and Alignment. Supply chain philosophy is still a relatively new and developing area. …
- Supply Chain Assets & Routing. …
- Process, Procedures and Systems. …
- Planning and Communication. …
- Outsourcing. …
- People and Culture.
What are the 5 parts of supply chain management give example?
Supply chain management has five key elements—
planning, sourcing raw materials, manufacturing, delivery, and returns
.
What is the most important part of supply chain?
Supply chains are also getting more complex all the time, which only compounds this idea. It also serves to underline the fact that
communication
has officially become the most important part of your supply chain.
What are the three components of a supply chain?
Generally the key aspects of Supply Chain management are
Purchasing (sourcing), Planning (scheduling) and Logistics (delivery)
.
What are the two major types of supply chains?
| Reactive Supply Chain Strategy Data-Driven Supply Chain Strategy | Operational improvements based on guesswork or imitating competitors A data-driven approach helps even best-in-class manufacturing operations find new ways to improve efficiency[iii] |
|---|
What is a lot in supply chain?
Lot size is
the amount of a good produced at the one time
. Lot size is an important issue in lean manufacturing, as large lot sizes and high setup costs drive batch production and ‘push' stock into the supply chain.
