Research Question - Coursework Example

Research Question Question 3 Supply chain management is an important area to study because of a couple of reasons. To begin with, the skills gained in the study of the supply chain management are applicable in company, as well as, societal settings. Notably, knowledge in supply chain management enables companies to create excellent customer relationships. Second, supply chain management centers on the major issues such as rapid and unprecedented of multinational corporations, global expansions, sourcing, and strategic relationships (Balakrishnan & Geunes, 2004).

The aforementioned issues tend to affect corporate strategy, and skills in supply chain management became crucial in the contemporary business world. Lastly, the study of supply chain management is important at the society level. In this respect, a well-managed supply chain within the society creates employment and improves the standard of living. The functions of purchasing and logistics tend to contribute positively to the supply chain performance in a number of ways. The purchasing and logistics influence the efficiency of the supply chain by increasing the competitiveness of the organizations (Yang, 2012).

Notably, the functions of the logistics and purchasing facilitate supply chain to achieve customer satisfaction, timely processing clients’ orders, and efficient delivery the ordered good and services (Schroeder, 2010). In this respect, timely purchase and delivery of goods and services ensures that companies attract and retain new and existing clients. In essence, purchasing and logistics optimize supply chain. In turn, the effective and well-organized supply chain maximizes operational performance, as well as, profit margins.

Moreover, functions of purchasing and logistics augment supply chain to realize sustainable competitive advantage. ReferencesBalakrishnan, A. & Geunes, J. (2004). Collaboration and coordination in supply chain management and e-commerce. Production and Operations Management, 13 (1), 1-2. Schroeder, R. (2010). Operations Management: Contemporary and Cases. New York: McGraw-Hill Irwin Publishing. Yang, M. (2012). Supply chain management under e-commerce environment. International Journal of Innovation, Management, and Technology, 3 (3), 210-213.