1. Describe how global supply chain management acts as a driving force in global markets. Include value capture and value creation in your discussion as interactive dynamics that link the internal and external firm business processes. In the global marketplace, firms are challenged by the intensive need to reduce costs and thus achieve efficiency; this can be done through better collaboration and integration of the supply chain partners (Martin, 2005)…
Value creation through global supply chain management is achieved through strategic integration of all members of the supply chain under the scope information exchange and understanding of the changing global consumer (Flint, 2004). According to McAdam and McCormick (2004) value creation occurs when organizations develop new ways of better addressing the customers’ needs and customer satisfaction; the supply chain which acts as a source of information can increase value creation. Especially in the case of global supply chains, effective management of the flow of processes and functions indicates a better coordination of resources (including learning), which in turn provide the potentials for accumulating greater information on the global marketplaces. Given that global markets are underpinned by different cultures, different institutions and different structures, management of the global supply chain becomes the most important tool for effective operations. Value creation is therefore achieved through global supply chain management through greater synergies and integration of the supply chain partners in communication and information exchange, which allow faster response to the global changes in consumer behaviour. ...
Cite this document
(“Supply Chain Management Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.net/other/18892-supply-chain-management
(Supply Chain Management Essay Example | Topics and Well Written Essays - 500 Words)
“Supply Chain Management Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/other/18892-supply-chain-management.
Now the business firms are not competing individually in the markets rather they are the part and parcel of different supply chain links. The only way in order to succeed in the market is that the business managers must have the ability to link different business networks or supply chain links in an effective and efficient way.
Organizations have come up with various innovative methods in all these process, which not only provide good SCM but also add value to their businesses as well as the environment including their suppliers, society as well as economy. Supply chain strategy is critical to its sustainability.
By 1990s, it became one of the most well-liked management term (Hugos, 2006). A supply chain can be seen as the alignment of three or more firms that are directly linked by the downstream as well as upstream flows of goods, services, information and finances from a particular source to the customers.
A good supply chain allows the organization to reduce the cost for its products without compromising on the quality and the relationship they maintain with their suppliers. To overcome this challenge, organizations have moved on to outsource their suppliers to developing countries just as China, Brazil, and Poland etc.
Green Supply Chain Management.
Although the concept of green supply chain is one of the most argued topics among industrial experts and research scholars but surprisingly very few researchers have tried to explore the topic seriously. To understand the core concepts of green supply chain management, one has to define supply chain management.
To bring the main actors in the market together, for example, suppliers, manufactures, and stores are put together to simplify the production of commodities being produced, and then circulated at the right time. The captions are going to capture the
It brings integration of various processes such as production operations, buying goods and services, transportation and distribution. A successful supply chain management programs ensures these processes are integrated and coordinated into a process that is seamless
The micro-economic approach in regard to market logistics and strategic plans of an organization is extensively discussed. The effective warehouse management and transport arrangements are basic market logistic constituents (Jespersen & Skjøtt-Larsen, 2005). It is
1 Pages(250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Supply Chain Management for FREE!