Define supply and demand chain? This is an example of \"continuous innovation\"

Question

Define supply and demand chain? This is an example of "continuous innovation" as mentioned in the Grateful Dead article. How can these processes be used as a competitive advantage for a business and why is this area of such interest today? What is a "Globally Integrated Enterprise"? Why are transformational leaders needed in industry to drive companies to this business model? In the article Business Lessons from The Grateful Dead' it talks about the "experience economy". How does that relate to the Globally Integrated Enterprise?

Explanation / Answer

Supply and Demand chain management is the broader concept which is more of controlling integrated network processes and meeting the requirements of customer through a quality product and service. Ultimately, Supply chain and demand management end user is the customer. The objective is to deliver the product in right quality, right quantity, at right place and reducing lead time.

Supply chain reference model (SCOR) is a process reference model for Supply Chain Management (SCM). SCOR model enables users to improve and communicate SCM practices within and between different parties.

The latest version of SCOR model is version 11. It has the new updates which include the redesign of Cost metrics, Best Practices and Enable Process section. The users or implementer get guidance for gauging, measuring and improving that makes it more effective of their supply chain.

Some of the benefits of Supply and demand chain to gain a strategic advantage over its competitors are as follows

1. Excellent customer service - It helps the firm to deliver the right product in the right quantity and in the right condition at the right place at right price. This increased the level of satisfaction of the customer.

3. Planning and Risk Management - It plans the processes in response to market changes including global sourcing, new product launches, etc. Implementing SCOR (Supply chain reference model) helps to plan risk management by identifying potential risk.

4. Supplier Relationship Management - SCOR model provides a common language and framework that makes easier to communicate, benchmarking efforts, and improves the evaluation of best practices.

Hence the above function helps the firm to gain a strategic advantage over its competitors.

Question 5

Global integrated enterprises operates with shared services, set of processes, distributed decision making, etc that are carried out by skilled global workforce that are managed by common set of values.

The leaders and mangers should adopt democratic and transformational leadership style. The good and right attitude of the leaders will bring success to the organization. Transformational leadership style depends on high level of communication from management to perform goals. It requires involvement of management to meet goals.

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