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SUPPLY CHAIN MANAGEMENT - Admission/Application Essay Example

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Supply Chain Management (SCM) is one of the integral elements of business organizations, as it assists in maintaining a strong relationship amid suppliers along with customers. SCM is a method by which the competitiveness of the business is enhanced by reducing uncertainties and…
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SUPPLY CHAIN MANAGEMENT
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The issue of SCM has given rise to discussion, whether SCM is a passing fad or a fundamental change. On this topic, several firms are of the view that SCM is a fundamental change and not fad. The rationale regarding the perspective that SCM is a fundamental change is evaluated with valid applications and principles.
Business organizations have adopted various significant changes in the approaches of SCM in the field of operations and manufacturing for efficient management and synchronization of business operations and business partners. Initially from 1975 to 1990, SCM was considered as a fad owing to the fact that the main objective of a business was to focus upon Material Requirements Planning (MRP). Due the lack of competitions, organizations did not value the concept of SCM and thought that implementation of such strategy would lead to no improvement of business operations. However, with increased globalization and advent of technologies have intensified market competition and changed business environment. In the present competitive business scenario, the changing perspective of the management of business organizations regarding business operations and increasing competition asserted that SCM is not a fad but a fundamental change. The changing perspective of an organization is due to the fact that SCM is giving rise to new integrated system for the success of businesses in different spheres which includes enterprise resource planning and synchronous flow of inventories.
The implementation process of SCM is conducted in a systematic manner in order to ensure that business operations are performed effectively. The fundamental idea regarding SCM is that it is not only the management of inventories but also a management of information. SCM is of immense significance, as it has changed various operational structure of an ...Download file to see next pagesRead More
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20000
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-10000
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Net Income (BT)
10000
10000
10000
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10000
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-4000
-4000
-4000
-4000
 
 
 
 
 
 
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6000
6000
6000
6000
6000
 
 
 
 
 
 
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0
0
0
0
+ Depr. Exp.
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10000
10000
10000
10000
+ Tax Claim
2000
2000
2000
2000
2000
EATCF
$18000
$18000
$18000
$18000
$18000
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