In regard to inventory management, two terms are mostly used, these include; Just in time (JIT) and Materials Requirements Planning (MRP).
Just-in-time (JIT) is a notion that supports the lowest achievable…
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IT can also be deemed to be a pull’ (demand) determined inventory system where sub-assemblies, support items, parts and materials are conveyed just when required and neither later or sooner. Its main goal is to eradicate product inventories from chain of supply. As much as an inventory system as a managerial system, JIT covers all activities needed to produce a final product beginning from engineering design onwards to the final manufacturing operation (Radhakrishnan, 2001).
Materials requirement planning (MRP) on the other hand is a system of planning and control of inventory that is mostly utilized in the management of the manufacturing processes. Several MRP systems are usually soft-ware based even though MRP can also be performed by use of hand as well. The main aim of MRP system is; ensuring that materials are accessible for production and that products are accessible for transmission to customers, maintenance of lowest possible product and material level in store, planning manufacturing activities, purchasing activities and delivery schedules(Wisner,2012).
Both MRP and JIT facilitate firms to make long term plans, which allow a manufacturer to make plans for facility and labor use more efficiently. Both systems assist in reduction of orders that are past-due and lead times (Rao, Krishna,
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Activities involved in supply chain management range from product development, logistics, production, sourcing to information systems used for coordination purposes. All firms that contribute to the delivery of commodities or services to clients or end users they are all referred to as the supply chain.
First pioneered by Japanese automobile companies like Toyota, SCM is essential in order for companies to implement lean manufacturing methods. SCM strategies need to adapt and evolve according to the needs of the economy. Hence, the early strategies employed by Japanese automobile firms are no longer fully applicable today.
Dell directly sells to all its customers, regardless of a home-PC to world’s largest corporations. The direct relationship with individual customer creates a great source of competitive advantage for Dell. Amazon was set up in 1994 by Jeff Bezos and since its establishment has grown to become one of global leaders in online business to consumer retail business.
It has been realized that it is UK’s largest high street retailer where more than 430 million people visit the website annually. The customers that are usually served yearly are estimated to be 130 million through their 740 stores (Argos, 2013). The financial report released last year showed that the sales of the company were ?
The Von Maur family entered into the business arena by opening a store in Davenport, Iowa way back in 1872. Now, the family business has prospered and has its presence in around 25 locations in the United States of America. Von Maur stores provides customers certain benefits like free shipping and gift wrapping, interest free charge card having a flexible schedule for payment and the Von Maur Gift Card.
A supply chain would have integrity only if it is capable of meeting defined business goals for efficiency, quality, and economic performance as well as conforms to the varying load of rules and regulations. In this scenario, the negligence of stock and supply is believed to be the most important aspect of an organization’s supply chain that can put in danger the integrity of a supply chain.
The company’s mill is situated on the banks of the Lossie River, Elgin. From a broader understanding, the company has been able to attract its customers through the deliverance of quality products to them and in
be called ‘partnerships’ but more often, they are relationships which must be nurtured through high levels of trust, communication, and reciprocity (usually money for the goods) (Ackerman & Bodgraven, 2007). Consumers are at the other end of the supply chain, who also need
Consequently, Unilever has been named one of the best firms having a sustainable supply chain across Europe that has demonstrated a continuous and competitive leadership and excellence. Interestingly, Unilever’s supply chain management has
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