Question

In: Operations Management

Before you conduct the research, you may study: Relevant textbooks (e.g., Supply Chain Management, Operations Management)...

Before you conduct the research, you may study:

Relevant textbooks (e.g., Supply Chain Management, Operations Management) on these subjects.

  • Review and study relevant journal articles, newspapers, magazines, etc.
  • Limit your assignment to no more than 2 pages (single space).

Supply Chain Management (SCM) is the integration of key business processes from initial raw material extraction to the final customer, including intermediate processing, transportation, and storage activities and final sale to the end customer. Today the practice of SCM is becoming extremely important to achieve and maintain competitiveness. Many firms are just now beginning to realize the advantages of supply chain integration.

(a) Discuss the strategically important reasons for adopting Supply Chain Management?

(b) SCM is not without problems. Adopting SCM often involves risks and negative
      consequences. Other than the Bullwhip effect, what are the potential negative aspects (e.g.,
      drawbacks, risks, any other undesirable consequences) of Supply Chain Management? You
      may utilize current real world examples (e.g., Coronavirus Pandemic) in making your
      arguments.

Solutions

Expert Solution

(a)

Supply Chain Management(SCM) is an important part of every organisation, whether it is small or large, SCM is the active management of supply chain activities to maximise customer value and achieve a sustainable competitive advantage, according to Robert Handfield, Ph.D.SCM also deals with the movement and storing of materials needed to create a product, as well as inventory management, and keeping track of finished goods from where they were created to who they go to. Bottom line: there is no overstanding the importance of Supply Chain Management.

According to SCM experts, it is also 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. The other areas that SCM is related to are operations, logistics, procurement, and information technology.

If companies use Strategic Supply Chain Management, the organization is then able to function at optimal capacity to provide and distribute various products and materials.

(b) following are the potential negative aspects of Supply Chain Mnagement,

  • Lrge scale management issues: The opportunity to grow business goes hand-in-hand with the issue of greatly increased supply chain complexity when it comes to management. Companies must scale up up all aspects of their business as it grows across borders, which can cause problems that stretch the globe.
  • Greater risks: Having materials, factories, and customers all over the world means being at the mercy of global events, from natural desasters, to port closure, to political uprisings. Globalization requires that supplychain managers have detailed risk management plans in place and that they are prepared when disaster stikes
  • Global competition: you are not the only entity with access to supplis, products, and labor around the world - you now have a lot of competition scattered accross the globe. Globalization necessitates that supply chains are highly efficient and well-run in order to stay competitive in a global market.
  • Legal issues: Operating across borders means operating in countries that very likely have differenr laws and regulations. For example, secret product details may not be safe in China, where they have less less stringent intellectual property laws.
  • The coronavirus pandemic has caused delay and other frustrations in businesses' global supply chains, highlighting how vulnerable many are to unexpected disruptions.


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