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Managerial Decision in Supply Chain - Essay Example

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Name Institution Course Instructor Date Managerial Decision in Supply Chain Table of Contents Table of Contents 2 Introduction 3 Inventory Decisions 5 Risk Management Decisions 6 Demand Focus Decisions 7 Investment in Better Demand Information 8 Supply Chain Flexibility Decision 8 Networking Decisions 9 Change of Prices 9 Conclusion 10 Bibliography 11 Introduction Supply chain management is critical to the movement of services and goods from suppliers to the final consumers…
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Managerial Decision in Supply Chain
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Download file to see previous pages Supply chain is a key feature to success or a failure of today’s business. This is because getting the correct products to consumers is not only the key player to competitive success, but also the solution to survival. According to Industrial Marketing Management Journal, managerial decisions to prevent failure in the movement of goods and services are very crucial (Handfield, & Bechtel, 2002:367). The decisions should target to respond to the market requirements with overall efficiency. This issue falls on the management. The management should design sound strategies to respond swiftly to the consumer’s demands. Moreover, the strategies should take care of the ever-changing markets. This is the only way to maintain and bring a competitive advantage to the market. For supply chain to remain efficient, it should concentrate on reduction of cost. In addition, the supply chain should avoid wastage of resources of non-value added activities. The managerial decisions should focus to resolve trade-off between responsive and efficiency (Handfield, & Bechtel, 2002:369). This paper examines the managerial decisions that increase responsiveness of the supply chains. ...
To achieve this, it calls for the management to make sound decisions to respond well to the customer demands or changes in market. This is because each customer has specific set of needs. Some markets require high level of receptiveness and others concentrate on effectiveness. The general effect of making prudent decisions regarding to each driver establishes the affectivity with which the supply chain serves its market for maximum profits for the participants in the supply chain (Minnich, & Maier, 2008:3). The common tenet from literatures holds that for success of supply chain managers should be aware of changes in the competitive market environment. The managers should then re-organise the supply chain to satisfy the genuine needs of the consumers. This swift response determines the adaptation of firms and supply chain to the needs of the ever-changing markets to achieve lasting competitive success. This means that policy designing, and changes are crucial to respond well to the supply chain in the five areas of the company. These are production, transportation, information, inventory, and location. The managers’ decisions on the strategies they should focus on the situation at hand. The decision should endeavour to achieve the lower costs of goods and services. This is an issue, which many supply managers grapple with. It therefore means that the managers should choose between two strategies philosophies. The management can either demonstrate a high reaction to consumers at any cost. The other way is to reduce waste in order to achieve maximum profits (Minnich & Maier, 2008:3). The managerial decisions should concentrate on devising sound processes and key performance pointers that rewards ...Download file to see next pagesRead More
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