Fast, Global, and Entrepreneurial Supply Chain Management - Case Study Example

Innovative supply chain management can consider outsourcing production to different manufacturers instead of relying on one manufacturer as a way of the shortening buying cycle. For instance, Victor Fung would outsource raw materials to different companies, have products assembled by different companies in different countries. As Fung said, the best way is to break down the supply chain into small parts and then look for a custom solution for each part. Another genius way of innovative supply chain management is having a custom value chain for each customer. Present production chains are tailored to suit a large market niche. However, as competition increases, market niches become narrower by the day. This raises the need to specifically tailor the entire supply chain to suit a particular niche. For example, in the computer market, a different supply chain management strategy would be needed for a tablet and a laptop. Another creative way of shortening supply chains and buying cycles is by embracing dynamism in supply chain management. Factors such as labor, cost of raw materials, and technology are changing every day. Therefore, it is important to consider adjusting the supply chain depending on the changes in these factors. For instance, many manufacturers have been moving production to China because of cheap labor. However, within the same country, labor is cheaper in Mainland China and hence manufacturers are also moving mainland in response to this.