Understanding Supply Chain Management

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This assignment delves into the key concepts of modern supply chain management. Students are tasked with explaining the differences between intranets and extranets, the role of e-commerce in supply chains, and the benefits of just-in-time (JIT) manufacturing. The assignment emphasizes understanding how these interconnected technologies and practices contribute to efficient and effective supply chain operations.
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IT Infrastructure Management
IT Terminologies
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Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
Answer 1:.....................................................................................................................................2
Answer 2:.....................................................................................................................................5
Answer 3:.....................................................................................................................................5
Answer 4:.....................................................................................................................................6
Answer 5:.....................................................................................................................................7
Conclusion.......................................................................................................................................9
References......................................................................................................................................10
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Introduction
Several latest IT technologies have developed by IT experts for different purposes. Every
technology has its own importance. The purpose of this report is to emphasize on some essential
IT terminologies such as E-Commerce, Just-In-Time Delivery, SaaS, E-Commerce, Web 2, Big
Data analysis, Extranet and others. Moreover, I will also discuss about key components of data
mining, an important function of ERP i.e. Reserve Stock Level, concept of virtualization and
some fundamental IT problems. In next segments of this report, I will discuss these crucial things
in detail.
Discussion
As per as my views are concerned, I think above listed terminologies have made our working
activities more convenient to perform and less time consuming. The basic knowledge about these
terminologies is important to have before their usages.
Answer 1:
Just-In-Time Delivery
Just-In-Time delivery is also known as JIT. It is a method used to manage inventory. This
method is considered to be best for those companies that have repetitive functions of
manufacturing such as small scale companies, hospitals etc. The main purpose to use Just-In-
Time is to decrease costs by only keeping important inventory on hand that is actually required
for whole production process.12
E-Commerce
1 "JIT Just-In-Time Manufacturing", Ifm.Eng.Cam.Ac.Uk, last modified 2017, accessed August 24, 2017,
http://www.ifm.eng.cam.ac.uk/research/dstools/jit-just-in-time-manufacturing/.
2 "Just In Time (JIT) Definition & Example | Investing Answers", Investinganswers.Com, last modified 2017,
accessed August 24, 2017, http://www.investinganswers.com/financial-dictionary/businesses-corporations/just-
time-jit-89.
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IT Infrastructure Management
E-Commerce is another essential terminology that has high demand among people worldwide. E-
Commerce is related to purchasing and selling of goods and services and transmission of
payments by internet. In modern era, several people are using this terminology for doing
business online and for doing online shopping.34
SaaS
SaaS stands for Software-as-a-service and it is a software distribution model. It basically works
as a third party provider for host applications and through internet makes these applications
available to its potential customers. SaaS is also one of the main categories of cloud computing.
Strategic Planning
This planning process is very important and plays an important role in business enterprises. It is
basically a process of an organization which is used for defining its strategy, direction and to
make appropriate decisions for resource allocation. Besides this, strategic planning also leads to
control mechanisms that are essential for guiding execution of business strategy.
Supply Chain Systems
The terminology of supply chain is a process of enterprises, folks, information and resources that
are included in transmission of a product and service from supplier’s end to customer’s end. It is
also considered as an effort from suppliers to develop and execute supply chains that are
economical feasible and efficient.
3 "What Is Ecommerce? Are You Sure You Know?", The Balance, last modified 2017, accessed August 24, 2017,
https://www.thebalance.com/let-s-ask-the-basic-question-what-is-ecommerce-1141599.
4 "Ecommerce", Entrepreneur, last modified 2017, accessed August 24, 2017,
https://www.entrepreneur.com/topic/ecommerce.
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DSS
DSS stands for Decision Support System and this system is computer based and it gives support
to all decision making activities that are related to business and enterprises.
Cloud Infrastructure
The cloud infrastructure states to the hardware and software components that include storage,
servers and software of network and virtualization that are required to fulfill the needs of a cloud
computing model.5
Web 2
The current state of online technology is web 2.0. As compare to previous states of web, this
state has more characteristics such as more user interactivity, better communication channels and
reliable and secure network connectivity. 6
Extranet
It is a form of private network that uses internet and publicly used telecommunication system. It
is required by extranet to share confidential business information or operations with customers,
suppliers and others in a secured way. 7
Big Data Analysis
This analysis process is used to assess data sets that are large and diverse in nature and these
large data sets are commonly known as big data. This process is implemented to unveil hidden
patterns, market trends, priorities of customers and unfamiliar correlations.
5 "What Is Software As A Service (Saas)? - Definition From Whatis.Com", Searchcloudcomputing, last modified
2017, accessed August 24, 2017, http://searchcloudcomputing.techtarget.com/definition/Software-as-a-Service.
6 "What Is Web 2.0 ? - Definition From Whatis.Com", Whatis.Com, last modified 2017, accessed August 24, 2017,
http://whatis.techtarget.com/definition/Web-20-or-Web-2.
7 Intranets difference? and Tim Eisenhauer, "Intranets VS Extranets - What's The Difference?", Axero Solutions, last
modified 2017, accessed August 24, 2017, https://axerosolutions.com/blogs/timeisenhauer/pulse/165/intranets-
vs-extranets-what-s-the-difference.
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Answer 2:
Key Elements of Data Mining
There are some essential elements of data mining that are helpful for statistical analysis. These
elements include A Question, History, Computers, A Flat File and Domain Knowledge. Here a
question is that meet the specific need of a customer. Another key component history is used to
8predict the future observations regarding data mining. With the help of computer as an essential
elements of data mining, it is used to find best forecasters that are used further in potential
combinations. Moreover, a flat file is also a crucial element of data mining which is used to
collect records and characteristics in a single table. Besides this, domain knowledge is also one
of the important elements data mining and it is used to guide the model building process with the
help of data mining algorithms.
Answer 3:
Why Understanding of Significance of Reserve Stock Level function of ERP is Critical?
Reserve Stock Level Function in ERP is defined as supply of inputs that are detained as a reserve
in cases where future demand and supply fluctuates. Here inventory is in hefty amount that is
why a kind of buffer is required to protect this large stock from uncertain future. The significant
of this function in ERP is critical to understand because management of reserve stock is not
easier to maintain and can dramatically affect their operations. According to high and less range
of stocks puts impact on inventory carrying costs. 910
8 "What Is Extranet? - Definition From Whatis.Com", Searchenterprisewan, last modified 2017, accessed August 24,
2017, http://searchenterprisewan.techtarget.com/definition/extranet.
9 Rauf Aliev, "Hybris WMS/ERP Integration: Stock Levels And Reserves", Hybrismart | SAP Hybris Under The Hood,
last modified 2017, accessed August 24, 2017, https://hybrismart.com/2016/10/02/2339/.
10 "Buffer Stock Definition | Operations & Supply Chain Dictionary | MBA Skool-Study.Learn.Share.", MBA Skool-
Study.Learn.Share., last modified 2017, accessed August 24, 2017, http://www.mbaskool.com/business-
concepts/operations-logistics-supply-chain-terms/7353-buffer-stock.html.
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Answer 4:
What Business Risks had Liberty Wines Faced?
According to case study of Business Continuity with Virtualization, the major risk that was faced
by Liberty Wines was that with the significant increase in size of company, IT facility was also
requiring more data which was difficult to handle. In addition to this, IT systems were getting
gradually slow down and required more maintenance than before. Another risk factor was
concerned with loss of productivity of employees due to slow IT systems and since then
manpower was increased to resolve this problem. Due to these risk factors, fundamental and
important business processes were affected by their progress. Moreover, these business risks put
negative influence on order processing and inventory management functions. 11
Impact of Liberty Wines’s IT infrastructure on its Competitive Advantage
IT infrastructure of Liberty Wines has positive influence on its competitive advantage. The
introduction of IT infrastructure into company has reduced the costs of power and hardware
replacements and improved the stability and flexibility through a backup system. Besides this,
speed of business processes has also increased by using new mobile apps. In a nutshell, now
employees of company can provide appropriate customer service with better level of
productivity. IT has also impact on Liberty Wines’ future business growth. All these discussed
impacts of IT infrastructure contribute in the holistic development and success of company in
competitive market by cost reduction and improved service.
11 "Security Certification Practice In The EU - Information Security Management Systems - A Case Study — ENISA",
Enisa.Europa.Eu, last modified 2017, accessed August 24, 2017,
https://www.enisa.europa.eu/publications/security-certification-practice-in-the-eu-information-security-
management-systems-a-case-study.
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Benefits of Server Virtualization for Liberty Wines and the Environment
Due to server virtualization quantity of servers has reduced and this leads to 60 % less usage of
power consumption and air conditioning. Furthermore, reduction in carbon footprint has also
identified. The working progress of applications has also encountered that results in better
customer relationships and stock management.
Answer 5:
Data and IT Problems that limit FinCEN’s Ability
According to analysis it is found that FinCEN’s data was suffered from unpredictable quality and
deficiency of validation and standardization. After assessment of FinCEN’s data, it is identified
that it has limitation of small datasets and simple routines and bureau is not capable to manage
massive datasets. Furthermore, offline systems are used by company to report data. Due to this, it
becomes difficult for FinCEN to rapidly detect new and rising threats.
IT Upgrades and Capabilities required by FinCEN for achieving its mission
By FinCEN’s its analytical capabilities, databases and IT infrastructure are upgraded. This
upgrading was required for better collection and analysis of data from different sources and then
delivery this data further to local law enforcement, regulatory authorities and federal states. The
upgrading IT infrastructure of company is now able to receive, store and process data in
electronic form and it shows modernized form of FinCEN Company. Moreover, this company
has also invested in web-based apps for more convenience of its customers.12
12 "Financial Intelligence Fights Fraud", Prezi.Com, last modified 2017, accessed August 24, 2017,
https://prezi.com/mwkngk-jnqvo/financial-intelligence-fights-fraud/.
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IT Infrastructure Management
On what financial intelligence depends
The crucial factors on which financial intelligence depends include effective form of data
analytics for assessing patterns and relationships. These patterns and relationships unveil
possible unlawful activity.
Why identification of patterns and relationships critical to National Security?
The reason is that financial intelligence has enhanced the overall ability and speed of detection of
money launderers and financiers who are related to terrorist activities and cause disturbance in
their criminal activity.
Recent Financial Crimes detected by FinCEN
Most of the financial crimes that are identified by FinCEN are related to money laundering. Here
is an example of Liberty Reserve Company that was detected by FinCEN in case of money
laundering.
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Conclusion
In conclusion, above discussed terminologies are important for every business organization to
improve its performance and working abilities. In this report, benefits of IT are discussed by
using different case studies of FinCEN and Liberty Wines Companies. Therefore, investment in
IT field is required to run successful business in competitive market. Moreover, virtualization
technique is also providing better outcomes to its users as it is found in case study of Liberty
Wines.
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References
"What Is Software As A Service (Saas)? - Definition From Whatis.Com".
Searchcloudcomputing. Last modified 2017. Accessed August 24, 2017.
http://searchcloudcomputing.techtarget.com/definition/Software-as-a-Service.
"Just In Time (JIT) Definition & Example | Investing Answers". Investinganswers.Com. Last
modified 2017. Accessed August 24, 2017. http://www.investinganswers.com/financial-
dictionary/businesses-corporations/just-time-jit-89.
"What Is Extranet? - Definition From Whatis.Com". Searchenterprisewan. Last modified 2017.
Accessed August 24, 2017. http://searchenterprisewan.techtarget.com/definition/extranet.
"What Is Web 2.0 ? - Definition From Whatis.Com". Whatis.Com. Last modified 2017.
Accessed August 24, 2017. http://whatis.techtarget.com/definition/Web-20-or-Web-2.
Aliev, Rauf. "Hybris WMS/ERP Integration: Stock Levels And Reserves". Hybrismart | SAP
Hybris Under The Hood. Last modified 2017. Accessed August 24, 2017.
https://hybrismart.com/2016/10/02/2339/.
"Buffer Stock Definition | Operations & Supply Chain Dictionary | MBA Skool-
Study.Learn.Share.". MBA Skool-Study.Learn.Share.. Last modified 2017. Accessed August 24,
2017. http://www.mbaskool.com/business-concepts/operations-logistics-supply-chain-terms/
7353-buffer-stock.html.
"Financial Intelligence Fights Fraud". Prezi.Com. Last modified 2017. Accessed August 24,
2017. https://prezi.com/mwkngk-jnqvo/financial-intelligence-fights-fraud/.
"Security Certification Practice In The EU - Information Security Management Systems - A Case
Study — ENISA". Enisa.Europa.Eu. Last modified 2017. Accessed August 24, 2017.
https://www.enisa.europa.eu/publications/security-certification-practice-in-the-eu-information-
security-management-systems-a-case-study.
difference?, Intranets, and Tim Eisenhauer. "Intranets VS Extranets - What's The Difference?".
Axero Solutions. Last modified 2017. Accessed August 24, 2017.
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IT Infrastructure Management
https://axerosolutions.com/blogs/timeisenhauer/pulse/165/intranets-vs-extranets-what-s-the-
difference.
"What Is Ecommerce? Are You Sure You Know?". The Balance. Last modified 2017. Accessed
August 24, 2017. https://www.thebalance.com/let-s-ask-the-basic-question-what-is-ecommerce-
1141599.
"Ecommerce". Entrepreneur. Last modified 2017. Accessed August 24, 2017.
https://www.entrepreneur.com/topic/ecommerce.
"JIT Just-In-Time Manufacturing". Ifm.Eng.Cam.Ac.Uk. Last modified 2017. Accessed August
24, 2017. http://www.ifm.eng.cam.ac.uk/research/dstools/jit-just-in-time-manufacturing/ .
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