>> Supply Chain Management
Global Supply Chain Management
In recent years, it has become evident that the choice of supply chain strategy made by a company should be based upon a careful analysis of the demand/supply characteristics of the various product/markets served by the company. While downward pressure on price will continue to be a real issue in deflationary market conditions, it also has to be recognised that agility and responsiveness are increasingly fundamental to competitive success. According to Fisher (1997), supply chains need to be matched to products. In particular, a distinction is often drawn between supply chains that are managed to emphasise supply chain efficiency (lean supply chains), and those that emphasise supply chain responsiveness and flexibility (agile supply chains). Fisher, M.L., (1997) 'What is the right supply chain for your product?'
You are asked to critically discuss how a company can sustain a long-term supply chain strategy that is well-aligned with its products and markets, especially in an increasingly complex global environment. In your discussion you are expected to present different types of generic supply chain strategies, providing examples where appropriate.
You should undertake a relevant literature review that helps inform your investigation. Please also ensure that the Harvard Referencing System is adhered to and fully complied with.
• Critically analyse the theory, concepts and models of global supply chain management to interpret and understand complex and ambiguous risks in global logistics and supply chain environments.
• Synthesise facts and ideas in support of an argument when evolving alternative solutions and concepts such as lean and agile supply
• Demonstrate an understanding of the importance of global lead-time management and time-compression.
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Table of Contents
Risks in Global Logistics and Supply Chain Environments 2
Lean Supply Chain 3
Principles of Lean Supply Chain 4
Agile Supply Chain 5
Importance of global lead-time management and time-compression 7
Lead-time Management 7
Time Compression 8
Management of supply chain has been emerging as one of the key areas for organizations to be considered for gaining competitive advantages and edge. Management of supply chains in an effective manner is an extremely challenging and complicated task, because of the present trends in business for making an expansion in the categories of products, shorter life cycle of products, and increase in the activities of outsourcing, continuous advancement, globalization of business organization in the current area(Towill 2002).
The use of internet has resulted in both, an increase in opportunities and needs for an improvement in the management of supply chain. With the utilization of internet, organizations in a chain of supply can be in connection with real time by continuously sharing knowledge and information(Roath 2006). In addition to this, it is important to state that new services and products can be established for aligning them within special segments in the market, and new structures for the chain of supply can be established for serving customers in a better and direct way.