Main principles of the supply chain management  Dissertation Example

Free Main principles of the supply chain management  Dissertation Example

Management Name Institutional Affiliation Date Management There are seven main principles of the supply chain management that not only play a crucial role in an individual firm’s productivity but contribute greatly in providing a framework for planning the global supply chain systems and operations. Key among them is the adoption of a supply chain that is tailored to meet customers’ needs (Anderson, Britt, & Favre, 2007). Clients are the major players in the success of business hence understand their needs then aligning such to the supply chain will be advantageous to the market players. However, clients have different needs, tastes and preferences, hence differentiating the products that are close to the clients (Anderson, Britt, & Favre, 2007) will also serve as a great strategy in the company supply chain and the global supply chain as well. Customizing logistics network (Anderson, Britt, & Favre, 2007); logistics are critical to the success of all operations, great logistics reduce production costs, hence increasing the profitability margin for corporates. In a global setup, however, strategic planning will be quite instrumental in the smooth flow of all operations in the supply chain. While aligning demand planning across the supply chain (Anderson, Britt, & Favre, 2007) will minimize the costs of production, since, only the required products will be produced and the resources are directed where they are required at a particular time. All the necessary resources should however not only be produced by the firms if they might cost more among other consideration. Nonetheless, in making outsourcing decisions; efficient outsourcing strategies should be set up while maintaining the core competencies in-house. Incorporation of Information Technology in the global supply chain will enable the monitoring of the flow of products and all resources across the supply chain and also serve as a guide into areas where there is the need for...