Question

Discuss the importance of SCM for Travelfast. Evaluate few SCM solutions available, and suggest which solution would be appropriate for Travelfast. What are some of the possible challenges Travelfast will face in implementing for adoption of SCM in Travelfast.travel fast is an imaginary based on transport company this is for essay so provide a long answer

I have to write 2500 words so could you plz provide like around 1500 words answer it would be great

Answer 1

Supply Chain Management (SCM)

The term supply chain management implies a well-organized and managed procurement function. In reality, procurement is often a collection of disparate suppliers selected almost randomly on the basis of a perceived ability to deliver products at a price that appears right. While this may be a bit of an overstatement, it's true that in many instances, businesses make little effort to organize their suppliers or implement coherent supply chain strategies.

The term supply chain management (SCM) covers all the activities associated with managing an organization's procurement with the goal of:

• Reducing costs
• Improving efficiency
• Satisfying demand

Because there are costs associated with achieving these goals, it's essential that organizations devise and implement supply chain plans or strategies which determine service levels and long- and short-term procurement goals. These goals should link and be compatible with a business's corporate strategies.

Once such a strategy is in place, it's possible to make rational and informed decisions regarding how raw materials should be procured and finished goods delivered to customers. This includes guidelines on who the business sources from, the appropriate product quality standards and how goods are delivered. A SCM strategy helps supply chain managers determine the appropriate action to take when things go wrong, such as what to do when a supplier delivers late or how to deal with quality issues.

Importance of SCM Strategy

1. The supply chain network structure:

This considers physical structures, such as manufacturing facilities, warehousing, outlets, and customer locations, as well as logistics and the organizational philosophy as to where and how each are structured and handled.

2. Legal and ethical standards:

The identification of legal standards related to procurement along with appropriate ethical standards to ensure the organization complies with its corporate responsibility and environmental pledges.

3.Supply chain software and technology:

Adoption of systems to monitor stocks, such as using barcoding or IoT devices for tracking locations and movements. Additionally, software solutions that offer supply chain visibility and the degree of software integration with other corporate systems.

4.S&OP policies:

Because the supply chain doesn't operate in a vacuum, decisions and strategies should align with the corporate philosophy and be presented in the same financial language.

5.Supplier profiles:

The strategy should determine who the company does business with and require certain systems to be used by suppliers to manage product quality and deliveries.

SCM Software Solutions

SCM software needs to satisfy three basic requirements. Firstly, it must have the computing capability to successfully manage transactions in complex supply chains. Secondly, it needs a high degree of transparency so that the supply chain department can monitor what is happening and be able to proactively identify and attend to non-conforming suppliers. Added to that is the ability to track orders throughout the system from sales through to procurement and delivery. Finally, supply chain management solutions need advanced analytics for measuring and managing performance.

Available SCM Solutions:

1.Oracle Netsuite

NetSuite ERP provides businesses in a wide variety of industries with the tools to automate and centralize processes across departments. This includes tasks such as financial management, distribution, CRM and supply chain management. This software is cloud-based and is available whenever and wherever, as long as you have an internet connection.Additionally, this software is customizable and has a relatively low cost of ownership due to its automated software maintenance. It provides real-time data insights across workflows and includes the option to build dashboards that are unique to your business.

Key differentiators & advantages of NetSuite

• Customization and visibility: The ability for clients to develop solutions that are tailored to their own business needs is a driving benefit of NetSuite ERP. The tool also provides visibility across workflows, which provides heightened transparency across departments.
• Built-in workflows: Built-in workflows are helpful because they allow for the automation or streamlining of various business tasks, therefore improving productivity. This benefit includes more accurate financial management and omnichannel engagement.
• Control over business processes: NetSuite ERP gives companies more control over business processes. For example, the program contains a supply chain portal that makes sure your customers benefit from the same experience, no matter where exactly they decide to convert within the sales funnel.
• Real-time insights: Real-time data is a key benefit that, when paired with NetSuite ERP’s personalized dashboards, can help your company develop insights more quickly. This can reduce the amount of time you spend filtering and sorting data to develop actionable solutions for your business.
• Easily accessible: NetSuite ERP is a cloud-based solution, meaning that as long as you have internet access, you can use it. This means you won’t have to be tied to your desktop computer to work with its suite of tools, which gives you the freedom to work where and when you want.
• Relatively low cost of ownership: Cost is an essential factor to consider when implementing an ERP solution, which is why NetSuite ERP seeks to lower its price by eliminating IT expenses (both initially and on an ongoing basis.) It also provides automatic updates so that you don’t have to pay extra for maintenance.

2.E2Open

E2Open Supply Chain Operating Network software enables companies to “see things as they are”… and run the most complex and responsive multi-enterprise supply chains in the world.

Key differentiators & advantages of E2open

• Integrate and automate key supply chain processes from planning to execution
• Facilitates the material and capacity forecast and commit process between the customer and all suppliers, allowing them to collaborate until an agreement is found
• Enables a streamlined and electronic execution of the procure-to-pay process
• Enables the three-way procure-to-pay flows between suppliers, subsidiaries, and the central procurement organization
• Allows companies to effectively monitor all inbound material movements across logistics nodes and control points, so companies can track actual lead times as well as quickly identify potential delays

3. Blue Yonder

Blue Yonder is a digital fulfillment platform that empowers companies with predictive business planning and execution, autonomous business decisions and reimagined customer experiences. It offers various modules for manufacturing and retail planning, store operations and collaborative category management.

It provides end-to-end visibility and optimization of the value chain and its assets with an AI-driven Luminate platform that helps users with synchronized planning, logistics and commerce operations. It leverages workflow-driven user experiences, artificial intelligence and machine learning capabilities to predict, prevent and resolve disruptions throughout the extended network.

Key differentiators & advantages of Blue Yonder

• Optimize Inventory: Build and sustain a competitive advantage by aligning inventory planning, strategy and execution with strategic goals for service, production and distribution through inventory optimization. Inventory and stocking strategies can be optimized across multiple channels to strengthen customer services.
• Manage Sales and Operations: Resolves supply chain challenges to keep sales and operations plans on track, boosts productivity and effectively integrates planning with execution. Create actionable cost, revenue and margin targets and unite the entire supply chain to accomplish them. Also, stage the right inventory across the distribution network, minimize stock-outs and maximize inventory turns through supply planning and replenishment.
• Manage Finances: Enterprise-wide strategic plans can be tied to the execution of shared goals through its merchandise financial management. Companies can establish omnichannel, consumer-centric financial guidelines to handle inventory productivity and profitability.
• Handle Assortment: Integrates consumer purchase preferences, assortment lifecycle planning, in-depth analytics, pre-pack and sizing optimization into a simplified workflow through assortment management. Simplifies complex assortment processes to increase customer satisfaction, drive higher sales and maximize profitability.
• Streamline Warehouse Operations: Enables real-time transaction processing, selection and storage strategies, integrated labor standards and directed task management to deliver high services at lower cost through warehouse management. It helps uncover operational difficulties and perform single-task operations with data-driven precision using its warehouse tasking capabilities.