Supply Chain Management and Forecasting should be viewed as interconnected topic

Question

Supply Chain Management and Forecasting should be viewed as interconnected topics. Supply Chain Management has five major focus areas:

(1) on-time delivery, (2) quality, (3) time (business cycle), (4) total delivered cost and (5) flexibility.

Supply chain strategies including functional or innovative strategies are described in the text book with examples. Please elaborate on the three topics (answer each topic in separate posts with at least 300 words):

1. On-time Delivery 2. Quality 3. Flexibility

In light of today's fast paced digital age, where creativity and innovation are critically important, which of the 5 focus areas would you consider most important? Please explain and defend your selection .

Explanation / Answer

1) On-time Delivery: customer seeks on time delivery of their order when he places an online order. Even in channel sales, super stockists, wholesalers, and retailers’ etc.seek timely delivery of the stocks so that they can fulfil the demand of their respective clients. It can be perfectly done with an integrated supply chain and real time feedback system handled with information technology advancements.

Companies should remove its major challenges across the value chain activities like inbound logistics, after sales services , procurement, HRM, technology etc to leverage the competitive edge in its value delivery system to the intended customers.

2. Quality:

It is the set parameters under which we compare the features, performnace, price and utilities of our products and services. It can be achieved with continuous improvements of the process and methods of the production and design. Toyota believes in the philosophy of lean manufacturing which includes, six sigma, just in time, 5S etc.these tools make it different from other automobile manufacturers across the globe. In Supply chain management, it can be achieved by implementing a utility check at every stage of procurements to delivery of finished goods to the end users. Even, it can be said as the hallmark for the success in long term.

3. Flexibility:

It can be seen with various perspectives like flexibility in operations, SCM, Human resource policies and in developing the business relationship with other stakeholders like Vendors, Contractors, and Govt.authorties. In production and operations, we use the term lead time, buffer stock and inventory level to maintain flexibility in the system. It defines the success by providing quality wise best products to the customers. Most of the successful business across the globe maintains a realistic flexibility in customer service, product innovation and tapping the markets globally.

In my view, in the digital age an organization can exist with an objective to sustain in the long run when it focuses to reduce its total delivered cost. It is possible to achieve with the help of utilizing sophisticated technology like Amazon, Wal-Mart and global players are using to achieve the same. . Information technology (IT) applications provide us faster speed, quick response, remote connectivity, trends via social media, integrated inventory management, real time progress of the business etc. These advantages make it the first choice of many start-ups like Uber , Pytm , and Zomato etc. to work with lower cost than other competitors. Digital technologies are helping the entrepreneurs in doing businesses without their own resources.

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