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Supplier Selection and Business Process Improvement - Essay Example
In recent years supply chain management (SCM) has received a great deal of trade press and academic attention. For many chief executive officers (CEO) the time has come to shift attention to their supply base and embrace the principles of SCM. The resource-based approach to strategic management suggests that competitive advantage can be found in the diverse resources and capabilities a firm controls…
This learn looks at the victory that TOFAS-FIAT Corporation has had in running supply chain in Turkey (Bashein, B. J., 2004, 7-13).
In a globe where products are copied roughly as soon as they are introduced into the marketplace, building and supporting competitive advantage is a major anxiety for today's CEOs. For this reason, there is a strong link among how firms manage their people and the economic results achieved. Results from studies of five year endurance rates of initial public offerings; studies of productivity and stock price in large samples of companies from manifold industries; and detailed research on automobile, clothing, and other industries shows that considerable gains of approximately 40% can be obtained by implementing high performance management practices. a further purpose of this paper is to gain imminent into supply chain capability and the factors that enhance its development. If members of a supply chain are to thrive jointly they must acknowledge that a learning environment improves the overall effectiveness of the supply chain as well as the abilities of the individual members (Stump, R. L., 2001, 29-48).
One important management practice for many companies is the relationship that they have with their suppli ...