...only a problem of integrated logistics (as a process) but also demands that the supply chain management (SCM) must look into the ramifications of these arrangements on the cost of transportation (including tariffs or duties) of products within a trade zone and outside it, besides, developing logistics strategies. The field has thus developed in the last few years for bridging the gap between demand and supply vis-à-vis efficiency and cost trade-offs. The SCM now not only involves the “management of logistic function”, as was done in the past (to achieve internal efficiency of operations) but, includes the management and co-ordination of activities, upstream and downstream linkage(s) in the supply chain. The integrated supply chain management, in particular include : Planning and Managing supply and demand; Warehouse Management; Optimal Inventory control; Transportation and Distribution, Delivery and customer’s delight following the basic principles of supply chain management viz. working together; Enhancing revenue; Cost control; Assets utilization besides, customer’s satisfaction. The last two decade has seen the rise of a plethora of acronyms always used in conjunction with production, operational management and control. To name a few JIT (Just-In-Time); TQM (Total-Quality-Management); ZI (Zero-Inventory); ECR (Efficient Consumer Response); VMI (Vendor Managed Inventory). All these...
Words: 8064 - Pages: 33
...Chain Management (ISCM) is now not only a problem of integrated logistics (as a process) but also demands that the supply chain management (SCM) must look into the ramifications of these arrangements on the cost of transportation (including tariffs or duties) of products within a trade zone and outside it, besides, developing logistics strategies. The field has thus developed in the last few years for bridging the gap between demand and supply vis-à-vis efficiency and cost trade-offs. The SCM now not only involves the “management of logistic function”, as was done in the past (to achieve internal efficiency of operations) but, includes the management and co-ordination of activities, upstream and downstream linkage(s) in the supply chain. The integrated supply chain management, in particular include : Planning and Managing supply and demand; Warehouse Management; Optimal Inventory control; Transportation and Distribution, Delivery and customer’s delight following the basic principles of supply chain management viz. working together; Enhancing revenue; Cost control; Assets utilization besides, customer’s satisfaction. The last two decade has seen the rise of a plethora of acronyms always used in conjunction with production, operational management and control. To name a few JIT (Just-In-Time); TQM (Total-Quality-Management); ZI (Zero-Inventory); ECR (Efficient Consumer Response); VMI...
Words: 8081 - Pages: 33
...Chain Management (ISCM) is now not only a problem of integrated logistics (as a process) but also demands that the supply chain management (SCM) must look into the ramifications of these arrangements on the cost of transportation (including tariffs or duties) of products within a trade zone and outside it, besides, developing logistics strategies. The field has thus developed in the last few years for bridging the gap between demand and supply vis-à-vis efficiency and cost trade-offs. The SCM now not only involves the “management of logistic function”, as was done in the past (to achieve internal efficiency of operations) but, includes the management and co-ordination of activities, upstream and downstream linkage(s) in the supply chain. The integrated supply chain management, in particular include : Planning and Managing supply and demand; Warehouse Management; Optimal Inventory control; Transportation and Distribution, Delivery and customer’s delight following the basic principles of supply chain management viz. working together; Enhancing revenue; Cost control; Assets utilization besides, customer’s satisfaction. The last two decade has seen the rise of a plethora of acronyms always used in conjunction with production, operational management and control. To name a few JIT (Just-In-Time); TQM (Total-Quality-Management); ZI (Zero-Inventory); ECR (Efficient Consumer Response); VMI...
Words: 8070 - Pages: 33
...NORTH SOUTH UNIVERSITY MGT 314 (OPERATIONS MANAGEMENT) 2012 SECTION: 03 GROUP NAME: INCREDIBLES FINAL PROJECT OPERATIONS MANAGEMENT SUBMITTED TO ADEYL KHAN (Ayn) LECTURER, SCHOOL OF BUSINESS NORTH SOUTH UNIVERSITY SUBMITTED BY HASAN MONJURUR RAHMAN 092 0429 030 IMROJ AMAN 092 0521 030 USSAMA ABU SAYEED 091 0519 030 NAZIA HOSSAIN 091 0232 030 PRANTAR DAS ANOY 092 0227 030 4/13/2012 Letter of Transmittal 13 April, 2012. Adeyl Khan Faculty, School of Business, North South University. Dear faculty, We are pleased to present you this Group Assignment on “identifying operational problems of Lyric Group”. It includes the overall operational problem of Lyric Group Pvt. ltd. and solution of a problem. In order to prepare this paper, a lot of obstacles have come in our path but we tried to gather information as much as possible through different sources. In the end, it can be said that the experience that we have gathered to prepare this paper was extraordinary. We personally thank you for giving us the opportunity to prepare this assignment which has brought to us a lot of nice experiences. Thank You! Your Sincerely HASAN MONJURUR RAHMAN 092 0429 030 IMROJ AMAN 092 0521 030 USSAMA ABU SAYEED 091 0519 030 NAZIA HOSSAIN 091 0232 030 PRANTAR DAS ANOY 092 0227 030 2 Acknowledgement I would like to pay my sincere gratitude to almighty Allah for giving us adequate patience and knowledge...
Words: 3495 - Pages: 14
...Business, University of Arkansas, Fayetteville, Arkansas, USA Abstract Purpose – The purpose of this paper is to investigate the unique supply chain strategies employed by retailers. Design/methodology/approach – A mixed methods approach was employed involving analysis of depth interviews with 27 retail supply chain executives combined with a follow-up survey capturing over 200 responses. Findings – In light of uncertain economic conditions, retailers appear to be developing more agile/responsive supply chain management (SCM) strategies. Additionally, retailers are putting greater emphasis on maintaining a balance of cost versus service than the cost-centered focus found in a prior study. Research limitations/implications – This study focused on US retailers and therefore results should be cautiously extended to the retailing environment in other countries. Practical implications – Retailing is not a “one size fits all” business, and study results suggest the SCM strategies used by retailers depend greatly on the nature of each retailer’s model. However, the need to create agile SCM processes while controlling costs was an overarching theme described by retailers. Originality/value – Retailers operate some of the largest and most complex supply chains, yet SCM research has generally overlooked the retail sector. This study...
Words: 5824 - Pages: 24
...CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Supply chain encompasses several business entities including suppliers, manufacturers, wholesalers, distributors, retailers and customers concerned with ensuring the flow of raw materials, component parts or finished goods from the source to the final destination, organizations can no longer detached from these business entities (Adebayo, 2012). As stated by (Gunasekaran et al., 2003), companies cannot run away from being part of SCM in either operational or strategic level of implementation. In the traditional way, companies just buy the raw material, process it to become final product and distribute it to the customers. At the strategic level of implementation, the focus is more toward fulfilling customer’s requirement and satisfaction. Supply chain management can help a company achieve the true return on investment of customer relationship management (CRM) systems, making it easier to see how well-managed and efficient supply chain operations have a significant bearing on the organization’s overall financial performance. One important benefit is that supply chain management reduces the time required for a new product or service to progress from the initial concept to its final delivery to the market. Indeed, a key objective of supply chain management is to bring new ideas to market faster, whether they are innovations from in-house or ideas gleaned from elsewhere that an enterprise needs to transform into deliverable...
Words: 15581 - Pages: 63
...In addition to the direct costs of the systems, information entered into the system has to be entered more than once to satisfy all departmental needs, which leads to additional staffing to repeat tasks already performed. These additional entries are causing miscalculations which negatively affect inventory control and distribution. The lack of real control over inventory and distribution is causing disgruntled customers when orders are either over or under filled. Two primary questions are: What system or systems can be purchased to coordinate as many systems as possible together to reduce as much data entry as possible? And what system or systems would produce the most cost efficiency? A new supply chain management (SCM) system would optimize single entries of data to populate other areas of the company to reduce redundancy and possibly the number of FTEs. Also the new system is projected to cost less overall and annualized over the 10 year expected life span of the system, will cost less than the present data entry and inventory expenses. If Centervale stays with the Legacy system, which will cost $15 million with $100,000 annual maintenance fee, and present data and inventory costs (represented by X), the annual cost for 10 years would be X + $1.6 million. The variable for this illustration is the data entry and...
Words: 1561 - Pages: 7
...The Goal of this summary is to provide Riordan Manufacturing the ability to facilitate business needs for the four divisions within Riordan Manufacturing; Finance and Accounting, Internet Site, Sales and Marketing, Human Resources and Legal, and Operations. Finance and Accounting Presently, all four locations use finance and accounting systems to collect, analyze and generate financial data for the company’s sales and revenue reports. This requires the company to manually generate reports, re-enter data and convert this data to compatible formats for the corporate headquarters to process. Each manufacturing entity uses similar subsystems such as procurement, order entry, invoice and shipping. The invoice subsystem will need to interface with the accounts receivable component. These systems feed into the sales and purchasing history, accounts receivable and accounts payable. The procurement, accounts payable and accounts receivable then are provided to the general ledger. Payroll is a separate subsystem that connects to the general ledger. Procurement is the obtaining of the necessary raw materials and supplies and this system needs to keep track of what is on order and in house. The order entry system records all of the customer’s orders. Order entry then provides data to the invoice system for correct billing. Accounts payable keeps tabs on making payments obtained via the procurement system while accounts receivable records customer payments on their invoices. The general...
Words: 3609 - Pages: 15
...research is undertaken, generally some measure of the system's performance is presented and perhaps analyzed. A large number of different types of performance measures have been used to characterize systems, particularly production, distribution, and inventory systems. Such a large number of available performance measures makes performance measure selection difficult. Generally, performance measurement research focuses on analyzing performance measurement systems that are already in use, categorizing performance measures and then studying the measures within a category, and building rules of thumb or frameworks by which performance measurement systems can be developed for various types of systems. Beamon (1996) presents a number of characteristics that are found in effective performance measurement systems, and can therefore be used in evaluation of these measurement systems. These characteristics include: inclusiveness (measurement of all pertinent aspects), universality (allow for comparison under various operating conditions), measurability (data required are measurable), and consistency (measures consistent with organization goals). Besides analyzing the measures based on their effectiveness, benchmarking is another important method that is used in performance measure evaluation. Benchmarking can be useful in that it can serve as a means of identifying improvement opportunities. Camp (1989) provides an excellent, comprehensive discussion of benchmarking. In order to study the...
Words: 2747 - Pages: 11
...Quantitative Methods in Logistics & Supply Chain Management | Project Report | Institute of business management | Supply chain issues at Martin Dow Limited | Contents [ No table of contents entries found. ] [ No table of figures entries found. ] 1. INTRODUCTION Managing the flow of goods and services is the art of Supply Chain Management (SCM), which includes the movement and storage of raw materials, work-in-process inventory, and finished goods from the originating point to the point of consumption. It is the oversight of movement of finances, information, and materials from supplier to manufacturer to wholesaler to retailer to consumer. SCM integrates and coordinates these flows both within a company, and among different companies. A component of SCM is Logistics management that plans, implements, and controls the effective movement and storage of goods, services and related information from origin to destination. Logistics department helps companies in reducing expenses and enhancing customer service. The company selected in order to analyze potential supply chain issues arising at an organization was Martin Dow Limited, a Pharmaceutical Company. Martin Dow started its operation in the year 2000. In 2010, Martin Dow acquired the manufacturing facility of Roche in Pakistan. Martin Dow has five strategic partners namely, Biocodex, Teijin, MEDA Pharmaceuticals, Roche, and Riemser. The company is expanding with more than 1000 employees countrywide. It...
Words: 841 - Pages: 4
...evaluating the usage of hospital gloves as well as the prospect of inviting a new source from China. Utilizing data hard points such as past ordering history, fluctuations in treatments of patient (i.e. seasonal variations, etc.), and growth patterns of the hospital may contribute to an effective model and plan for the new supply chain (Tomas, 1990). For this materials requirement plan, the initial data to capture is, “what is needed to keep the hospital functioning today?” This question will create an analysis of current demand and allow for immediate ordering from the new vendor. The data points mentioned beforehand will create trending data to anticipate future ordering spikes and valleys. Known past orders will be combined with inventory transactions and records files to feed an MRP program to create primary reports for planned-order schedules (increasing...
Words: 1474 - Pages: 6
...Supply chain management (SCM) is a broadened management focus that considers the combined impact of all the companies involved in the production of goods and services, from suppliers to manufacturers to wholesalers to retailers to final consumers and beyond to disposal and recycling. This approach to managing production and logistics networks assumes all companies involved in the process of delivering goods to consumers are part of a network, pipeline, or supply chain. It encompasses everything required to satisfy customers and includes determining which products they will buy, how to produce them, and how to deliver them. The supply chain philosophy ensures that customers receive the right products at the right time at an acceptable price and at the desired location. Increasing competition, complexity, and geographical scope in the business world have led to this broadened scope and continuing improvements in the capabilities of the personal computer have made the optimization of supply chain performance possible. Electronic mail and the Internet have revolutionized communication and data exchange, facilitating the necessary flow of information between the companies in the supply chain. Companies that practice supply chain management report significant cost and cycle time reductions. For example, Wal-Mart Stores Inc. announced increases in inventory turns, decreases in out-of-stock occurrences, and a replenishment cycle that has moved from weeks to days to hours. A fundamental...
Words: 2886 - Pages: 12
...Inventory Management is a necessary Evil General Area: Supply Chain Management (SCM) Problem Area: Inventory Management a necessary Evil Ravi Kumar PGP/17/108 Email: ravik17@iimk.ac.in Indian Institute of Management, Kozhikode Abstract This article tries to explore how inventory management is one of the integral part of various business units in today’s business world. There are many modeling techniques available in Inventory management evolving very rapidly over a period of time, which can be used for performing different functions of meeting the customer satisfaction and helping the firms to achieve highly efficient SCM and in turn increase their profit margin. Not just that Inventory management systems have capability of meeting the uncertainty of demand by providing planned and effective way countering these uncertainties. This articles also discuss the critical point of inventory being a necessary evil i.e. with inventory firms have to bear certain cost but without it they can’t beat the demand uncertainties. The current models available however have discussed various issues related with the inventory management in real world but models are evolving to get rid of obsolescence and be competitive. There is lot of potential locked up in these models which can change the way managements make decisions in today’s world. Thus there is scope for applying systems thinking methodology this area and bring out synergies in different applications of Inventory management...
Words: 2800 - Pages: 12
...TIEN Ananth KRISHNAMURTHY Ali YASAR Department of Decision Sciences and Engineering Systems Rensselaer Polytechnic Institute, 110 Eighth St. Troy, New York 12180 USA Abstract Our focus herein is on developing an effective taxonomy for the simultaneous and real-time management of supply and demand chains. More specifically, the taxonomy is developed in terms of its underpinning components and its research foci. From a components perspective, we first consider the value chain of supplier, manufacturer, assembler, retailer, and customer, and then develop a consistent set of definitions for supply and demand chains based on the location of the customer order penetration point. From a research perspective, we classify the methods that are employed in the management of these chains, based on whether supply and/or demand are flexible or fixed. Interestingly, our taxonomy highlights a very critical research area at which both supply and demand are flexible, thus manageable. Simultaneous management of supply and demand chains sets the stage for mass customization which is concerned with meeting the needs of an individualized customer market. Simultaneous and real-time management of supply and demand chains set the stage for real-time mass customization (e.g., wherein a tailor first laser scans an individual’s upper torso and then delivers a uniquely fitted jacket within a reasonable period, while the individual is waiting). The benefits of real-time mass customization...
Words: 10304 - Pages: 42
...that why supply chain management is among the top initiatives for businesses of all sizes. Yet most purchasing, operation, planning, and finance managers feel they don’t have good control over their supply chains. Even the best informed are saddled with questions about establishing organization buy-in, defining metrics and benchmarks, optimizing material and transactional flow, and conducting relevant competitive analysis to define business opportunities. The challenges involved in optimizing a company’s supply chain are substantial. The proposed course outline grew out of a number of supply chain management courses or workshop conducted in Executive Education programs I have taught extensively in many universities within and outside Pakistan over the past five years as well as number of projects I have handled in the field of designing the supply chain model within Pakistan or and other countries of the world. The course outline is more or less similar to the topics currently being covered by many professional institute or academia in the world. I have spawned many innovative and effective supply chain education concepts. The focus in this initiation will be on presenting, in an easily accessible manner, recently developed state-of the art models and solution methods important in the design, control, and operation of the supply chains. This entire...
Words: 1531 - Pages: 7
