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Supply chain management is in effect a value chain. That is why the research study undertaken in this paper indicates that it is a management of those relations that add value to the supply chain. There are a number of hardships or interruptions that usually occur in such management of supply chains. But strategic approach to supply chain management helps in overcoming such interruptions or limitations. The strategic approach to SCM facilitates the integrated handling of the functions of the business, especially the procurement function and the logistic functions at the front and at the back ends of the business. As a result SCM comes handy in value creation as well as value addition. But supply chain management has a demerit, as SCM gives prominence to materials management and treats the customer requirements of logistic as an appendix to the business.
Michael H. Hugos (2) states that “Supply chains encompass the companies and business activities needed to design, make, deliver, and use a product or service. Businesses depend upon their supply chains to provide them with what they need to survive and thrive. Every business fits into one or more supply chains and has a role to play in each of them.”i In other words every business action is a process in the supply chain of which it is a link somewhere. The objective is to develop relationships of many such actions whereby products or services are developed and delivered to the ultimate consumer. In simple language supply chain is a network of activities that combines the actions from production or procurement of product or services till its delivery to the consumer.
Management of such a network is a tricky affair and only experience hands achieve proficiency in the management of supply chains. It must be understood that “at the end of the day, supply chain management is a relationship management. A supply
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In a competitive atmosphere, tourism service providers cannot but look for new, more effective methods of winning a better place in the market. Tourism industry players are gradually beginning to realize the benefits of effective supply chain management (SCM) and its implications for competitiveness in tourism.
At the same time, organizations are becoming responsible for their partners and suppliers’ social and economic performance due to the increased demands as well as strong economic performance. These pressures are coming from a number of sources, which include the community, employees, governments, and socially aware organizations.
The author states that ASDA Plc has all the necessary expertise to ensure the supply chain connections are not spoiled by the unscrupulous inclusion of horse meat. With the discovery of several hamburger patties being tainted with horse meat, many companies turned to online purchases to promote the produces and services of the companies.
In the area of business, OSM possesses a very significant position. Operations involve generally a process by which a company converts its raw materials with the help of labor and capital into the final finished goods. For example, in an automobile company, raw materials such as mechanicals tools and labors are used for the manufacturing of cars.
Research and practice shows that connecting and informing on supply chain, its management and the distribution of characteristics that dictate management of corporate organizations have greatly contributed to the integration of supply chain and its management.
The author states that a business strategy includes several organizational functioning strategies, such as supply chain management strategy, production strategy, marketing strategy, human resource management strategy and financial strategy. These all are equally important for an organization to achieve significant business growth rate.
A successful supply chain ensures a fast flows of supplies through the system and contributes to meeting these goals. Therefore, businesses must make optimal decisions in all critical phases to create a successful supply
To a large extent, these efforts have been productive and have allowed for a great level of diversification to exist in an economy that was previously one dimensional. As a function of reviewing this drive for diversification and the
Especially, the organizations from the aerospace parts or equipment manufacturing industry are likely to take adequate strategic measures while selecting their plant locations in any part of the world (Porter, 2008; Doole & Lowe, 2008).