ITM 350 Chapter 7 Notes.docx

4 Pages
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Department
Information Technology Management
Course Code
ITM 350
Professor
Franklyn Prescod

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Description
ITM 350 Chapter 7 Notes SupplyChain Management Supply Chain Management SCM is the process of coordinating and optimizing the flow of all products or services information and finances among all players of the supply chain Includes functions such as forecasting the demand of various types of materials ordering from suppliers inbound logistics warehousing manufacturing outbound logistics sales and delivery to the end consumer Logistics is the process of planning implementing and controlling the efficient and effective flow and storage of goods services and related information from point of origin to point of consumption Traditional Supply Chain Push System is a supplychain model in which suppliers produce goods based upon their efficiencies and push them to customers rather than relying on demand to determine production SupplierManufacturingDistributorRetailerConsumer Forces Affecting SupplyChain Management GlobalizationCompanies face challenges when they grow globallyEx setting up a delivery service in a foreign country is complicated Mass CustomizationConsumers asking for products that are tailored to specific needs Prices SensitivityCustomers are becoming increasingly sensitive to priceBusinesses need to have a very strong grasp of their competition and their supplychain partners Customer Focus and Time to MarketThe ability to create and delivery new products has become critically important in many industriesYou need the ability to innovate and develop highquality products JustinTime Inventory and Inventory ReductionHaving common information is most effective because all members of the supply chain can work in concert to reduce inventories while meeting customer demands and maintaining order fill rates
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