...JCT2 Task 3 A: Supply Chain Strategy The best strategy for this company in regards to supply chains is known by the Japanese term “Keiretsu”1. “It is part collaboration, part purchasing from few suppliers and part vertical integration.” Your manufacturing company would most “likely be a financial supporter of some or all of your suppliers through either ownership or loans. Members of the Keiretsu are assured long term relationships but are expected to collaborate as a partner, provide technical expertise, and stable quality production”1 to you. What this means to you is the ability to work with suppliers with a relative level of trust. This will allow you to work together on making your power tools a better product to the competition. In addition your company’s goals will be directly tied to the goals of your suppliers. You can share data, collaborate on business decisions, as well as standardize your products and processes. This makes the overall success of your company just as important to your suppliers as to yourselves. You will have to be mindful of a few things. The first is to keep an eye on your entire supply chain and make sure that all of the entities involved are aware of the overall goals. This will help keep the idea of “Local Optimization”1 in check. “Local Optimization”1 is the concept where a supplier or other entity is unaware of the overall goal and its importance and focuses on their own goals which could potentially sabotage the overall efficiency...
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...1. | What problem in its supply chain system did Whirlpool face by 2000? a. High inventory of finished goods but low availability b. Low amounts of finished goods c. High availability of goods but poor forecasting d. High demand but low inventories of finished goods | 2. | What unique approach did Whirlpool employ in defining a solution? a. Seeing the supply chain as originating with suppliers b. Seeing the supply chain as a way to focus on customers c. Seeing the supply chain as an extension of its sales practices d. Seeing the supply chain as a tool secondary to knowledge management | 3. | (Synthesis)Which type of system, from a constituency perspective, did Whirlpool need to improve? a. MIS b. DSS c. TPS d. ESS(Synthesis in terms of arrange, model) | 4. | (Analysis)Why is overstocking warehouses not an effective solution for a problem of low availability? a. It slows product time to market. b. It is an inefficient use of raw materials. c. It increases sales costs. d. It increases inventory costs. (Analysis in terms of compare, appraise) | 5. | (Analysis)Which of the following business values of supply chain management systems did Whirlpool’s solution illustrate most effectively? a. Using assets more effectively b. Speeding product time to market c. Matching supply to demand d. Reducing costs(Analysis in terms of compare, appraise) | 6. | A suite of integrated software modules...
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...Company Business Report As investors, you will need to consider what type of business strategy you think is best for your company. I would recommend using the Keiretsu network for the business strategy. Keiretsu is a business network that is composed of manufacturers, supply chain partners, distributors and financiers who try to stay financially independent but work closely with each to ensure each other’s success. In Japanese, the word keiretsu means “group.” In business sense, the word is sometimes used as another word for partnership or alliance. Using this strategy will help your company by assisting in establishing stable, long-term partnerships, which in turn will help them to focus on core business requirements needed to assist with maintaining your products and production in several different aspects. Because the product that is being developed here is an intricate electronic device, there will be several partnerships that we will develop over time such as parts distributors and other components of our products (http://www.investopedia.com /terms/k/keiretsu.asp#axzz2IwCjpAVn). Using this strategy will also help us with the management of our finances through assistance with other departments and entities that specialize with financing. Even though this strategy is meant to sustain stability, this same stability can sometimes become an issue and cause problems with us being the manufacturer by not responding quickly to changes in the economy, culture or technology...
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...Supply Chain Strategy, Riordan Industries All over the world; supply chain is upgrading or adapting to new technology that encompasses companies. This paper explains the Supply Chain Management strategy to the new hires in Hangzhou, China. Supply chain management theory can help Riordan Manufacturing as to how each function in the supply chain connects to meet efficiency. By using a competitive strategy Riordan Manufacturing plans to “go green”. Riordan’s mission relating to customer fulfillment is “strive to be a solution provider for our customers and not be a part of our customer’s challenges” (Apollo Group Inc., (2005, 2006, and 2012)). As a new hire use process thinging to look for how to improve business practices within Riordan Manufacturing, and to enhance, or improve, the way tasks are done. Supply Chain Management Theory Riordan Industries supply chain management theory starts from the top and flows down to each employee working for the company. Supply chain theory has garnered recognition as an important “integration to increased value across the whole of the supply chain” (Janvier & Assey, 2012). As an employee the company values the employees input on every level. Riordan believes that in today’s global market each firm is linked in a networked supply chain. Hangzhou China is Riordan’s first offshore venture. Adapting supply chain technology and strategic planning on a global scale will test each employee’s willingness to learn new processes in supply...
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...A – Supply Chain Strategy The supply chain strategy chosen for the power tool company is a long term partnering relationship with few suppliers. The long term vision of the company is to make quality products and constantly stay ahead of the competition with innovation. The best way to accomplish this strategic long term goal is to partner with key suppliers that operate using a strategy of long term thinking based on trust and transparency. Ray Kroc was one of the pioneers on forming partnerships with the management teams of his suppliers back in 1955 (Vitasek & Manrodt 2012). Ray Kroc defined the McDonald’s supply chain partnerships with his suppliers as a “system” with everyone working together to drive costs out of the supply chain. This philosophy has proved tried and true for over 50 years and is what makes McDonald’s the successful company it is today. By partnering with few suppliers and building trust between the two organizations the customer and supplier can work together to better understand the drivers of the supply chain costs. There are many advantages of using a long term partnering supply chain strategy over some of the other strategies adopted by other companies. One of the major advantages of partnering with few suppliers is that you are able to build strong relationships with your supply base and both the supplier and customer grow the business together. One of Ray Kroc’s famous quotes was, “none of us is as good as all of us.” (Vitasek & Manrodt...
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...Praise for Supply Chain Network Design “Due to the significant impact that supply chain design has on the cost and service provided by a company, it is critical that managers be knowledgeable about how to optimize the flow of products and goods within their supply chain. This book takes a very technical subject and makes it possible for managers and students alike to understand all aspects of network design. The practical approach used in discussing topics throughout the book provides a clear and excellent framework for those seeking to learn more about the topic. The book is a needed and welcome contribution to the profession.” —Dr. Mary C. Holcomb, Associate Professor of Logistics, Department of Marketing and Supply Chain Management, College of Business Administration, University of Tennessee “Supply chain management (SCM) is a rapidly growing area of study—and network design is one of the fastest growing areas within SCM. This book would make a great classroom textbook. It is easy to follow with clear examples and useful exercises. It is laid out in progressive layers, with one’s understanding of the subject matter building as you go. You can stop midway and be comfortable with the fundamentals, or you can go as deep as desired into Supply Chain Network Design. “I have been a long-time practitioner of network modeling, as a manager in business and as a consultant, and I have covered the topic in university lectures; I still learned a great deal about a subject I thought I...
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...Supply Chain Management There are many aspects of business today. The most important and most expensive is not manufacturing and production cost. Today the most expensive aspects of any product is getting the product to the consumer and make sure that at all time the customer can purchase the product without delay. To consider the fact the forty five percent of purchases that are not necessary but spontaneous; those product must be seen and readily available to purchase. Even the ones that are necessary must be seen and ready for purchase or it may result in a poor overview of the company and may result in the loss of consumer support. To make sure that this does not a cure a company must have in place a very well managed supply chain. For this to happen the company must first understand what is the definition of a supply chain the six important aspects, certain software and of course some knowledge of global supply chain management. If there is an interest in becoming a supply chain manager there are certain steps in achieving that goal. This information might help not only ones professional career but also the company’s overall level of competitiveness in today’s ever changing market place In today’s complex business world, an organization’s overall success is based on the efficiency and effectiveness of its supply chain. The organization’s competitive strength relies on two main facets, a firm’s products and the processes that provide products to customers. An effective...
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...11/15/14 My Future in Supply Chain Management in the Food Industry I've heard from so many people that college is a place you discover who you truly are and over time, I've come to agree with this statement. Since the ripe age of five, I knew I wanted to be a doctor and as I grew older I became fascinated with every relating to being and becoming a doctor. I watched doctor shows, asked my doctor's questions about how they've got to where they are today, volunteered at UCSD medical, and researched many medical topics. Unfortunately while attending college I have finally rationalized that I'm not exactly cut out for medical school. Through my internship at Jack in the Box Inc., I’ve discovered my true passion is in supply chain management. I am near the completion of my undergraduate studies and I believe that I must really consider the future. Because I want to be more aware of what I want to do in the future, I have proactively done research on grad school and supply chain management. Although I previously believed my sole purpose in life was to be a doctor, college and my experiences have assisted me in figuring out that I want a career in supply chain management and to further my education. All the products that we have didn't come from thin air, companies and corporations have supply chains to ensure that these products get to the consumer. Many are unaware of how products start from conception and end up in their hands, so I looked into supply chain management. Last year...
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...the same products and services at any BestBuy anywhere in the world. I suppose they could stand alone, but being part of the larger marketing system brings great benefits. You get to use their models and their proved marketing platforms. 2.) Must a retailer be involved in performing all the marketing functions? If it can rely on other members of the channel, what functions can they perform and which members can perform them? Yes a retailer should be involved in every aspect of the company, do they have to di it themselves? No they can put these tasks in other people’s capable hands. The seven marketing functions are Pricing, Products/Service Management, Distribution, Financing, Marketing Information Management, Selling, and Promotion. 3.) Facilitating marketing institutions, since they don’t take title to the goods, add no value to a supply chain, Agree or disagree with this statement, and explain your reasoning. I disagree just because they don’t take title of the goods does not make them any less valuable in the supply chain. With agents, brokers, wholesalers, transporters, financial institutions, market researchers, advertising agencies and wholesales insurers the supply chain would not be what it is. Each part plays a valid important role in the success and profit of your company. 4.) Isn’t it clear evidence that a direct supply chain always the best way to reach a consumer? Agree or disagree and explain your answer. I disagree, Dell putting its products...
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...dialogue Dell’s supply chain transformation Historically regarded as one of the great innovators in supply chain management, Dell has undertaken a deep transformation of its supply chain that includes shifts from a regional to global structure and from the famed direct-only model to multiple channels. Annette Clayton, vice president, global operations and supply chain, talks to Turloch Mooney about the new supply chain model that has been three years in the making Key objectives of the new model – – – – Move from a one-size-fits-all model to a segmented supply chain portfolio Create globally, standard yet flexible processes that leverage partnerships Align to customer priorities around speed, choice, and cost Create infrastructure that is responsive to the changing needs of the business Overview of changes taking place Would you tell us how long the transformation will take to implement in full, and how you will measure its success? The overall transformation has been a three-plus year process. We are already seeing the benefits of the transformation. The process redesign is about creating a culture and is really never done. We continue to work to create a Lean culture. Ultimately it boils down to delighting customers as shown by the corporate Net Promoter Score. There are a variety of more detailed measures that track our ability to predictably deliver global supply chain capabilities at targeted total landed cost levels – – – Regional Global structure Direct only...
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...TE AM FL Y ESSENTIALS of Supply Chain Management Essentials Series The Essentials Series was created for busy business advisory and corporate professionals.The books in this series were designed so that these busy professionals can quickly acquire knowledge and skills in core business areas. Each book provides need-to-have fundamentals for those professionals who must: Get up to speed quickly, because they have been promoted to a new position or have broadened their responsibility scope Manage a new functional area Brush up on new developments in their area of responsibility Add more value to their company or clients • • • • Other books in this series include: Essentials of Accounts Payable, by Mary S. Schaeffer Essentials of Capacity Management, by Reginald Tomas Yu-Lee Essentials of Cash Flow, by H.A. Schaeffer, Jr. Essentials of Corporate Performance Measurement, by George T. Friedlob, Lydia L.F. Schleifer, and Franklin J. Plewa, Jr. Essentials of Cost Management, by Joe and Catherine Stenzel Essentials of CRM: A Guide to Customer Relationship Management, by Bryan Bergeron Essentials of Credit, Collections, and Accounts Receivable, by Mary S. Schaeffer Essentials of Financial Analysis, by George T. Friedlob and Lydia L.F. Schleifer Essentials of Intellectual Property, by Paul J. Lerner and Alexander I. Poltorak Essentials of Shared Services, by Bryan Bergeron Essentials of Trademarks and Unfair Competition, by Dana Shilling Essentials of XBRL: Financial Reporting...
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...The Fresh Connection Game Strategic Supply Chain Management SHT 4001 University of HUDDERSFIELD Name: Zhen Lei (Ray) ID: U1069600 Course: Transport & Logistics management Module Leader: Jayne Hemmingham Executive Summary The main purpose of this report is to discuss and introduce the experience of playing the fresh connection game with answering three main questions, The first one is to consider the competitive strategy of the team and evaluate the scope of team’s supply chain strategy was marching with its competitive strategy. The second is to utilize the financial information to analysis the situation of the business in the last round. Examples need to be explained how our team’s supply chain strategy influenced the financial performance of our team. The last point is to explain how the information can be used in the business to achieve sustainable improvements. The participants not only need to introduce their experience of the game but also demonstrate relevant academic theory and concepts. Introduction This report concentrates on reflecting on the experience of playing the fresh connection game experience. The fresh connection is a website which is one the strength of supply chain management researching environment and is played by both students and professionals. It provides a learning experience of supply chain. The students will make strategic decisions in the supply chain of the fresh connection which is based on a substantial producer of...
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...Supply Chain Strategy The Importance of Aligning Your Strategies UPS Supply Chain SolutionsSM Copyright © 2005 United Parcel Service of America, Inc. All Rights Reserved. No part of this publication may be reproduced without the prior written permission of UPS Supply Chain Solutions. Our Insight. A UPS Supply Chain Solutions White Paper Introduction Chances are you’ve heard the term supply chain strategy. Used informally, it is often confused with supply chain management, where supply chain operations are controlled to reduce costs. There’s some truth to this definition, but supply chain strategy really is broader; it defines how the supply chain should operate in order to compete. Supply chain strategy is an iterative process that evaluates the costbenefit trade-offs of operational components. A well executed supply chain strategy results in value creation for the organization. Business strategy involves leveraging the core competencies of the organization to achieve a defined high-level goal or objective. It also includes the analytic and decision-making process surrounding what to offer (e.g., products and services), when to offer (timing, business cycles, etc), and where to offer (e.g., markets and segments) as a competitive plan. While the business strategy constitutes the overall direction that an organization wishes to go, the supply chain strategy constitutes the actual operations of that organization and the extended supply chain to...
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...scc SM Supply Chain Operations Reference (SCOR®) model Overview - Version 10.0 supply chain council About Supply Chain Council Supply Chain Council (SCC, supply-chain.org) is a global nonprofit organization whose framework, improvement methodology, and benchmarking tools help member organizations make dramatic and rapid improvements in supply chain performance. SCC established and maintains the supply chain world’s most widely accepted framework for evaluating and comparing supply chain activities and their performance: the Supply Chain Operations Reference (SCOR®) model. The SCOR framework makes it possible for organizations to quickly determine and compare the performance of supply chain and related operations within their organization and against other organizations. SCC and its member volunteers continually advance these tools and provide education on how to leverage them for achieving superior supply chain performance. A consortium of 69 organizations founded SCC in 1996. Today, the SCOR model is used by thousands of organizations worldwide. SCC membership is open to all organizations interested in applying and advancing the state-of-the-art in supply chain management systems and practices. Our members represent a broad cross-section of industries including manufacturers, distributors, retailers, and service providers as well as technology solution providers, business consultants, academic institutions, and government organizations. SCC has chapters in Australia/New...
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...1. Question Supply Chain Resources definition are Materials, People, Information, Money or any other such resources that must be managed for profitable business operations. Define and describe brief information of the resources defined. Supply chain management (SCM) is the management of the flow of goods. It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. Interconnected or interlinked networks, channels and node businesses are involved in the provision of products and services required by end customers in a supply chain. Supply chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally. SCM draws heavily from the areas of operations management, logistics, procurement, and information technology, and strives for an integrated approach. Commonly accepted definitions of supply chain management include: • The management of upstream and downstream value-added flows of materials, final goods, and related information among suppliers, company, resellers, and final consumers. • The systematic, strategic coordination of traditional business functions and tactics across all business functions within a particular...
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