Supply Chain - Essay Example

Comments (1) Cite this document
Summary
Supply Chain Management Name Professor Class Date University I. Introduction The company is a power tool manufacturer whose products include electric drills, saws, and sanders. There are several highly competitive players in the industry that compels the company to be competitive and responsive by having its products available to the customers at the right time and at the right cost…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Supply Chain
Read TextPreview

Extract of sample "Supply Chain"

Download file to see previous pages II. Options of recommendation of a supply chain strategy: Keiretsu network The business will utilize the keiretsu network for the power tool company. Keiretsu is a network of organizations linked together by having a stake in each other's organization. The structure is usually likened to a spider's web and was designed to diffuse the adversarial relationship between buyer and supplier. The supplier also becomes a stakeholder of the organization and this set up induces the parties to work for their mutual benefit. This kind of relationship promotes cooperation and collaboration as each organization becomes a stakeholder in each other's organization whereby all stakeholders will share the fruit of profit or in the case of loss, also a share in the financial setback (Miyashia and Russel, 1994). The parts needed for the power tools (electric drills, saws, and sanders) are highly specialized and costly. It has a high learning curve and cannot be procured with any supplier overnight because its specifications must be met before it can purchase from a certain supplier. Needless to say, a collaborative long-term and non-antagonistic relationship with suppliers is favorable for the company due to the requirements of its parts. The keiretsu procurement network serves this purpose. This kind of procurement strategy is aligned with the company's vision of producing the highest quality for its power tool because the company will be working close with its suppliers. Keiretsu is basically a collaborative supplier-client networking where each player has a stake in each other and this kind of supplier chain relationship serves this purpose. Power tools depend on the quality, timeliness and reasonability of the cost of its parts and it is imperative that the supplier that provides the parts of the power tools is committed to delivering its supplies according to those requirements. Of all the supply chain strategies, keiretsu network is the best option that serves the company's objectives. The best way to commit suppliers to provide supplies of quality, timely and cost effective is to build a relationship with them whereby the company can work with the supplier on how to better achieve these business objectives. This will not only produce better power tool products, but also allow better prices making the company more competitive in the market making keiretsu a top choice. The only downside of keiretsu network is that if a non-performing (tardy on delivery) and substandard (not meeting specifications) supplier is wrongly chosen, it would be difficult shake it off because the company has committed itself on a long-term basis, especially if there is a contract between the two parties. These issues can be easily remedied. For the issue of incorrectly choosing non-performing and substandard supplier, the power tool company must first establish a strict criteria before looking for a supplier. These criteria must reflect the objectives, quality standard and timeliness of the company and must be met by the supplier in consideration. This would avoid incorrectly choosing a wrong supplier. For the issue of binding the company to a wrong supplier, it can be remedied by stipulating an opt out and a fine in the event that supplier will renege the contract. This will compensate the company for any ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Supply Chain Essay Example | Topics and Well Written Essays - 5250 words”, n.d.)
Retrieved from https://studentshare.org/management/1482493-supply-chain
(Supply Chain Essay Example | Topics and Well Written Essays - 5250 Words)
https://studentshare.org/management/1482493-supply-chain.
“Supply Chain Essay Example | Topics and Well Written Essays - 5250 Words”, n.d. https://studentshare.org/management/1482493-supply-chain.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
ke
kelli13 added comment 10 months ago
Student rated this paper as
Great work done on the "Supply Chain". I think it is the best text I have seen so far.

CHECK THESE SAMPLES OF Supply Chain

Supply chain

...? Supply Chain AFFILIATION: Table of Contents Introduction 3 Discussion 4 Internationalisation 4 The Internationalisation of business 5 The transformation of the Supply Chain and Distribution network 8 Decentralised system 8 The centralised system 8 Revision of the centralised supply chain and distribution system 9 Supply chains as an important driver of Internationalisation strategies 11 Conclusion 13 References 14 Supply Chain Introduction The British company Tesco could be considered as a great phenomenon in itself and in the world of food distribution. At the end of...
12 Pages(3000 words)Assignment

Supply Chain

...?Introduction The report analyzes current operation and supply chain management of Dell Computers and Amazon. . The report in the first past discusses the business and supply chain model of Dell and Amazon. Dell uses direct sale model which was different from indirect distribution channels used by rest of the industry. Dell directly sells to all its customers, regardless of a home-PC to world’s largest corporations. The direct relationship with individual customer creates a great source of competitive advantage for Dell. Amazon was set up in 1994 by Jeff Bezos and since its establishment has grown to become one of global leaders in online business to consumer retail...
8 Pages(2000 words)Essay

Supply Chain Management. Green Supply Chain

...?Module Supply Chain and Operations Management Module Number: 214LON Module Kenny Tang Assessment 2: Individual Assignment The Concept of “green” Supply Chain Date of Submission: 29th of March 2013 by 5 p.m. Name: Darya Kachmazova Student ID: 4686426 Word count: 2116 over page Contents 1Introduction 3 2Discuss the environmental factors leading to the development of green supply chain. 3 3Discuss the main characteristics of green supply chain and/or the main issues green supply chain aims to deal with. 6 4Compare the differences between the traditional...
8 Pages(2000 words)Essay

Supply Chain

...Supply Chain Management and Section # of upply chain may be defined as the flow of resources into as well as out of the collective operational system of an organization. When an organization, whether manufacturing concern or the service providing one, operates and interacts with its suppliers, a series of inflow and outflow of resources takes place; these resources may be tangible or intangible. Supply chain is the umbrella term to describe all that flow. The importance of supply chain can never be ignored in any of the business, regardless of its nature of operations. As it is the supply...
4 Pages(1000 words)Essay

Supply chain

...from implementing this strategy. However, there are also risks that are likely to be encountered by the company if it solely relies on outsourcing its logistics and supply operations to third parties. References Cheong, MLF 2003, Logistics Outsourcing and 3PL Challenges, Singapore-MIT Alliance, N2-B2C-15, Nanyang Technological University. Viewed 19 Feb. 13: . Kremic, T 2006. ‘Outsourcing decision support: a survey of benefits, risks, and decision factors,’ Supply Chain Management: An International Journal 11/6 (2006) 467–482. Viewed 19 February 2013....
2 Pages(500 words)Essay

Supply Chain

...Supply Chain Question Stability in lean manufacturing means the predictability and consistence of the activities that entail the whole process and these are normally referred to as the 4Ms (Materials, Manpower, Methods and Machines). The reason this is a basic requirement is that without these requirements, it is not possible to run a production line that will result in the perfect use of resources. Question 2 It is important to note that the principles of lean production can also be applied to the service industry due to the fact that the same principles of restructuring operations in a way that will reduce wastages can also be applied in the service industry. This is due to the fact that all business operations are similar... Chain Question ...
1 Pages(250 words)Assignment

Supply Chain

...Supply Chain Contents Contents 2 Introduction 3 Role of international supply chain between organizations 3 Key issues faced by supply chain managers 4 Theoretical frameworks of supply chain management 5 Importance of integration and recommended mechanisms 6 Conclusion 6 References 7 Introduction International supply chain management can be stated as effective management of goods flow in global context. There are various factors which are encompassed in this concept such as raw materials storage, storage of finished goods and those work-in-process inventories. This...
4 Pages(1000 words)Essay

Supply chain

...Management- Supply Chain Supply chains are systems of people, organizations, information, resources, and activities involved in the movement of products or services to customers from suppliers. This paper analyzes the roles and activities of supply chains in transforming raw materials, components, and natural resources into finished products delivered to end customers. Sophisticated supply chains include management of used products towards re-entry into the supply chain at points where residual values are recyclable. Supply chains form...
2 Pages(500 words)Term Paper

Supply Chain

...Supply Chain al Affiliation Supply Chain Company Profile Based on the economic vision of the United Arab Emirates and taught to promote economic and social development through economic diversification and build a knowledge-based economy. Vision also identified 12 strategic sectors, including transportation and logistics, and in this context, it was the Etihad Rail is defined as one of the main economic projects. Etihad Rail Company founded based on the Federal Decree No. 2 of 2009, to develop, construct and operate the rail network to transport passengers and goods of the United Arab Emirates. It also will create a rail network in stages in order to link the most...
1 Pages(250 words)Coursework

Supply Chain

...Supply chain Affiliation Warehouse Department staff Warehouse Manager Saturday, April 4, Achieving Effective Supply Chain Design to Enhance Profitability Through recent knowledge, the management has decided to adopt a modern warehouse supply chain design that is better and more practical in regard to the services the company offers. This memo is intended to address warehouse departmental staff of expected changes within our department. These changes can increase profitability and improve stakeholder value for the company. A warehouse manager should use both quantitative and qualitative analysis to determine the perfect...
3 Pages(750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Supply Chain for FREE!

Contact Us