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LG Electronics and The Use of SCM Software - Article Example

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The purpose of this discussion is to provide the reader with a more informed understanding of the supply chain management (SCM) process that involves the coordination of production, inventory, location, and transportation among all the participants in the supply chain…
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LG Electronics and The Use of SCM Software
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Download file to see previous pages The present research has identified that LG requires constant supplies of the goods that it produces in order to fulfill customers’ needs. In order to facilitate this process efficient and effective management of the supply chain is extremely important. Therefore, effective organization of all parties involved in the supply chain is critical as a result of their role in adding value. In fact, Christopher indicates that a supply chain is a network that consists of various organizations that play a part in performing processes and activities that adds value to product or service in the hands of the consumer. In order for all parties to achieve competitive advantage in the process, the flow of inputs and components from suppliers to LG’s operations has to be managed in such a way as to facilitate the minimization of inventory holding cost and the maximization of inventory turnover. The need for the use of technology to drive improvements and the use of SCM software cannot be ignored. Management of the supply chain is crucial to the success of businesses that manufacture goods and the internet plays a very important role in this regard. LG Electronics, Inc is a producer of consumer electronics, mobile communications, and home appliances. The company’s operations consist of four distinct business units – home entertainment, mobile communication, home appliance, and air conditioning and energy solutions. LG also has an international presence consisting of 117 operations. Worldwide sales in 2011 were USD 49 billion. In order to increase efficiency and effectiveness, LG has consistently sought to improve its competitiveness by improving the management of its supply chain. This article focuses on LG’s operations in India and its use of information technology to improve the management of its supply chain worldwide. ...Download file to see next pagesRead More
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