Supply Chain

Natasha Sealy-Dorvelus

Professor S. Best

MAN 351

March 4, 2013

Supply Chain Management: Creating Best Value Changes

The realization of Supply Chain Management (herein “SCM”) has been in existence for a long time but has over recent years has been one very useful tool in ensuring that product development, sourcing production, logistics, good business relationships, information technology play an important part in final goods and services. Management is using their bargaining power to pay less for product and at the same time not compromising quality. The competitiveness of using different methods to minimize costs is essential to finish goods. In this paper we will explore the SCM scope, which firms are best value changes, promises of strategic SCM implemented in work settings.

A supply chain is defined as a set of activities that span enterprise functions from the ordering and receipt of raw materials, manufacturing of products, through to the distribution and delivery to the customer. These activities are associated with the material flow and information flow (Li 2007). Five most important aspects of the supply chain that are driven by responsiveness and efficient are production, inventory, location, transportation and information. Supply chain management (SCM) is a set of synchronized activities for integrating suppliers, manufacturers, transporters, and customers efficiently so that the right product or service is delivered at the right quantities, at the right time, to the right places. The ultimate objective of SCM is to achieve sustainable competitive advantage (Taylor & Francis 183).

With the implementation of SCM, suppliers and customers are viewed as partners and their relationship becomes a cooperative one as enterprises in the supply chain recognize that coordination among partners within the supply chain is a key factor of success. In order to operate a supply chain effective in a cooperative manner, all related functions with...