Presentation on:Simulation In Operations And Manufacturing Management - Essay Example

This implies that managers need to constantly monitor the key factors that come to play influential roles in the internal production line. Therefore, as one can imagine, a slight imbalance in any one of these three areas concerned with supply chain would result in unforeseen consequences for almost all the parties concerned. Additionally, managers have to deal with a variety of key concern areas. A key typical area of major concern could be the case when there could be a financial crisis that has resulted due to some unforeseen reasons, the disruption of communication between the various entities, loss of capacity in terms of raw materials etc.

in addition, there could also be a major risk of a fall in the demand for the goods manufactured. Thus, it can be seen that all these risks are potential threats to the able management of a supply chain, which is so very important for the well being of a company. It is also a very well known fact that most of these risks can be dealt with in an efficient manner. For example, the failure of an existing communication medium may be resolved by switching over to a different option that is available.

But again, all such strategies have an influence over the budgetary constraints and it is simply not possible to anticipate all potential risks just like that. Therefore, there needs to be a well-established procedure for being able to study the supply chain process under consideration with the prime motive of being able to identify all the deficiencies and risks that exist and are likely to affect the working of any part of the supply chain. Likewise, there also lies the need to be able to perform suitable analysis of all such risks and deficiencies that have been identified for the purpose of evaluating the degree of various parameters such as the amount of impact of a particular risk, the time required to overcome a potential threat, the efficiency of