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Student’s name: Professor’s name: Course code: Date Supply Chain Management Supply chain management is founded on two principal concepts. The first concept is that, any product that reaches the final consumer represents multiple organizational cumulative efforts.
For instance, a small number of businesses were understood, less managed, and the outcomes were supply chains that were ineffective and disjointed. Supply chain management is the management of activities in the supply chain for purposes of maximizing the value of customers and achieving a sustainable competitive advantage. Therefore, supply chain companies should make efforts of developing and running supply chains in ways that are efficient and effective. Supply chain often covers a wide area ranging from development of products, logistics, sourcing and production. In addition, information systems are vital in coordinating supply chain activities. Companies or firms engaging in supply chain are connected via information and physical flows. In the physical flow, we have goods and materials transformation, movement, and storage. Through information flows, partners in the supply chain have the capability of coordinating their long-term business plans in controlling the up and down flow of material and goods in the supply chain (“What Is Supply Chain Management”). Time Context From the annual report written by the President of Japan X Ltd Company, Mr. Suzuki, the company’s problem started when it recorded a net loss of ten million yen(10m Yen) and an operating profit of four thousand million Yen (4,000M Yen). ...
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