Simulation In Operations And Manufacturing Management - Coursework Example

Driven by the relentless demands of competition, global companies have turned to increasingly sophisticated technology solutions to help manage their supply chain and logistics operations. Supply chain and logistics management critically link their suppliers, distributors, manufacturers, and customers.

Supply Chain Management (SCM) is a technology-enabled management approach to getting goods and services from a firm’s suppliers to its customers in a quick, efficient, and cost-effective manner. SCM links and coordinates this flow among business entities across the entire value chain (Bill Detwiler). This includes material suppliers, production facility, distribution, services, and customers; linked together via the feed-forward flow of information and the feedback of materials [Evans, 1995].

This project is to examine management logistics in supply chain management as it relates to the business process with the goal to produces a model for risk management. The project is descriptive in nature. It seeks to quantify the types of risks manufacturing management has experiences and models used to develop resolutions. This will be accomplished using experimental simulation models.

The aims of this study are to develop a holistic understanding of risks, assessments, and responses in supply chain management. It can be put into the following points:
1. This project is to examine management logistics in supply chain management as it relates to the business process with the goal to produce a model for risk management.
2. It seeks to quantify the types of risks manufacturing management experiences and models used to develop resolutions.
3. The problem this research seeks to identify and solve is that: supply chain logistics fail due to a lack of utilizing strategic risk management principles throughout their lifecycle.
4. Risk management strategies offer a proactive plan for small business entrepreneurs’, where uncertainty presents potential future threats or opportunities to a supply chain.
5. This project further seeks to modify the future of risk incidence and intensity of threats or opportunities and their possible impact on business performance (Chapman and Ward, 1997). This will be accomplished by following “Enterprise Risk Management” objectives to formulate the foundation of this research.
6. At last but not least the limitations of risk management strategies must be also understood by an organization well and they must be prepared accordingly. Failure to do so will keep an organization from ever completing a project or even getting started.
The above objectives are regulated quite well in the entire dissertation.