Supply Chain Individual Assignment
The four sessions on Supply chain management till now has given us the overview of what happens SCM is all about and what challenges global supply chain managers while taking various decisions. We also talked about the various CSR activities which SCM in its global supply chain in order to avoid any impact on the brand of the organisation.
To start with session 1, it was about the general overview about the supply chain, integration of the function of the SCM in big organisation in order to yield better results and the various deferment strategies which the firm may take in order to maintain in order to reduce the impact from uncertainties. From the lecture it was clear that supply chain consists of all the parties which are involved in fulfilling the customer needs and is based on the effective functioning of three basic requirements:
1. Coordination where the entire supply chain works as a single entity
2. Collaboration where different departments work in the interest of whole supply chain
3. The above two requirements cannot be fulfilled without proper and relevant information sharing amongst various stakeholders involved in the process.
Post this; we came to defining supply chain management as the effective control of the flows of material, information, and finance in a network consisting of suppliers, manufacturers, distributors, and customers. The various examples for control of flows can be understood in the following way:
* Information – sales, orders, capacity, delivery schedules, inventory
* Materials – raw materials, intermediate goods, finished products, returns
* Finance – payment terms, invoices
There was discussion about the major issues in SCM relating to sourcing, logistics management, and reduction of lead times, data quality and forecasting, relationship management i.e. managing relationship between suppliers, distributors and logistics providers, various ethical issues...