Question

Supply chain management is a more inclusive concept of identifying, acquiring, positioning, accessing and managing the capabilities and resources that an organization requires to achieve its strategic objectives and goals effectively. The “future acquisition” concept requires affixing of long-term responsibilities that have a significant impact on objectives pursued by an organization.

Directions: Describe supply chain management’s five concerns for future acquisition needs - for example, capital equipment acquisition, supplies contract, standard commodity, etc.

In 500-750 words,

Answer 1

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EXPLANATION:

Supply chain Management employs an increasing number of tools, technologies and capacities, both within and between suppliers and customers, to coordinate and optimize key processes, features and relationships to provide and capture the possibilities for synergy. This integrated management function is the highly dependent on an OEM's competitive advantage. The supply chain management seeks to blend the best of both worlds, big corporations' size and teamwork with small enterprises' low prices, versatility and innovation.

In response to evolving market conditions and evolving product life cycles, the emphasis of supply chain management will change. In each step of the product life cycle, different interactions between the participants are required, beginning at the end of recycling. To order to tackle large variations to demand (quantities and product mixes), the supply chains for goods in new markets must be versatile. In mature and stable markets, products need supply chains that can deliver goods at low cost reliably. To order for the supply chain to evolve properly, successful supply chain management must also adapt to these changing conditions.

There are different needs of each customer. We no longer exist in a world of goods and services for cookie-cutters. We live in an age of innovation of products. This change affects the production and logistics of the consumer's supply of these goods.Good customer support depends on details for these changes. Alternatively, it relies on knowledge accessibility. In order to determine and discuss changes and improvements to the supply chain before creating problems, it is important that you are able to provide the customer with as much data as possible.

Whether it's portal access or API integration, Rosetta Stone technology offers the information to your customers.These new technologies are embraced and invested in the companies that superbly offer customer service.For some businesses, the increased transport costs are a concern. Globalization of the supply chain means that many businesses have a significant goal of raising shipping costs. Often, in visibility the solution is sought, and in this situation, it is the supply chain visibility. In a supply chain arsenal, technology is the largest weapon. An investment in platforms such as TMS and YMS can provide professionals with the visibility they need to view the parts of their supply chain which are famous for hiding waste.

The reason , of course, is not just technology. Business intelligence is the key to improved cost control and data analytics are not necessarily involved. It's about making the most sound judgements by using the knowledge available to you.Improving cost management, rather than anything else, requires making a plan and executing it correctly. Your original proposal will be closely controlled and modified to meet our next challenge and solution.