MIS 2101 Lecture Notes - Lecture 6: Supply Chain, Inventory Control, Business Process

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Supply Chain Management (Wikipedia)
The management of the flow of goods and services
Involves the movement and storage of raw materials, of work-in-process inventory, and of
finished goods from point of origin to point of consumption
Defined as: design, planning, execution, control, and monitoring of supply chain activities
Objective: creating net value, building a competitive infrastructure, leveraging worldwide
logistics, synchronizing supply with demand and measuring performance globally
Marketing channels play an important role
Current research concerned with sustainability ad risk management
Supply chain is a set of organizations directly linked by one or more upstream and downstream
flows of products, services, finances, or information from a source to a customer
SCM software includes tools or modules to execute supply chain transactions, manage supplier
relationships, and control associated business processes
Supply chain event management considers all possible events and factors that can disrupt a
supply chain
Functions:
o Reduce ownership of raw materials sources and distribution channels to become more
flexible
o Need to increase the number of organizations involved in satisfying customer demand
while reducing managerial control of daily logistics operations
o Improve trust and collaboration among supply chain partners to improve inventory
visibility and velocity of inventory movement
Importance:
o Organizations must rely on effective supply chains, or networks, to complete in the
global market and networked economy
o Globalization, outsourcing, and information technology have enabled many
organizations to successfully operate collaborative supply networks in which each
specialized business partner focuses on only a few key strategic activities
o Impacts on firms not clear; little is known about coordination conditions and trade-offs
among players
Historical developments
o Creation
o Integration
o Globalization
o Specialization phases one and two
o SCM 2.0
Business process integration
o Customer service management process
o Procurement process
o Product development and commercialization
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o Manufacturing flow management process
o Physical distribution
o Outsourcing/partnerships
o Performance measurement
o Warehousing management
o Workflow management
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of its manufacturing
Supply Chain Futurists Predict the Impact of Digital Transformation
Can have a serious impact on your organization
Can lower procurement by 20%
Can reduce supply chain process costs by 50%
Increase revenue by 10%
Can better enable customer-centricity
Holds promise to sense demand, drive innovation, reduce cost, and deliver the customer the
right product at the right time and price
Digitized processes and operations are transforming R&D, manufacturing and logistics
Itegrate data fro softare roots that are ale to gra data fro oe syste, lea it up,
the deploy it to others in a way that is usable going forward across our systems
3D printing is changing how digital technology is used to create and produce products
Greater efficiency speed, quality control, and customer satisfaction are essential to the bottom
line
Can improve the management of demand, people, technology, and risk
Ability to collect and make effective use of Big Data is essential to the success of a business and
a supply chain
Integrated Planning Optimization for the entire internal supply chain
Optimal planning is only possible with an integrated approach
Internal supply chain consists of purchasing, manufacturing, distribution, and sales
Goal is all the same: happy customers
Incoming market data and business strategy plans must be incorporated in all processes
Inventory cost control is a common challenge
Field testing forecasting methods are used to prevent too much inventory
Companies are provided with
o Exact demand planning figures
o Optimized inventory levels
o High service levels
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