Modern Supply Chain Management: Key Functions and Practices

SUPPLY CHAIN MANAGEMENT 1
SUPPLY CHAIN MANAGEMENT
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SUPPLY CHAIN MANAGEMENT 2
Executive Summary- Synopsis.........................................................................3
Introduction................................................................................................4
Research and Discussion: Key functions and practices of MSCM................................4
Supply Chain Management.................................................................5
Modern Supply Chain Management.......................................................5
Integration between Companies and Suppliers............................................6
Effective Supply Chain Management......................................................6
Outsourcing Supply Chain Activities........................................................7
Human Resources Management’s effect on Modern SCM.............................7
Step-by-step selection process modern supply chain managers.......................7
The selection process...........................................................................8
Barriers to Supply Chain Management....................................................8
Conclusion....................................................................................................9
Recommendations..........................................................................................9
References.................................................................................................................................10

SUPPLY CHAIN MANAGEMENT 3
Executive Summary- Synopsis
Purpose: The main purpose of the report is to explain more about Modern Supply Chain
Management. The report will look at the changes that have been made in supply chain
management.
Scope: The report will not leave out any area of MSCM, and that means that it will look broadly
into the practice. The factors that affect effective supply chain management practice will be
highlighted. The report will also look into the hiring process of a supply chain manager.
Methodology: The method that was used in this case is the systematic review. The systematic
review is a method that includes the use of data from other materials. The materials targeted in
this research were books and peer-reviewed articles.
Findings: MSCM has affected the supply chain positively. The integration and harmonization of
all departments that work within the supply chain have helped in making the Modern Supply
Chain Management more effective.
Recommendations: MSCM has introduced changes that have proven to be effective in managing
supply chain processes and departments. Therefore, it is important for organizations also
restructure supply chain leadership structures.

SUPPLY CHAIN MANAGEMENT 4
Introduction
Modern Supply Chain Management has positive effects on the overall processes of the
supply chain. It changes the face of the supply chain by promoting cooperation and teamwork
between the different departments that work towards making the supply chain effective. Working
with different teams and assigning them different leaders can affect the delivery of the overall
goal.
Research and Discussion: Key functions and practices of MSCM
Modern Supply Chain Management has taken the holistic perspective in managing
different functions of the supply chain. The consolidation of procurement, manufacturing,
transportation, logistics, and supply has been embraced and promoted in the MSCM (Flynn,
Huang, and Zhao, 2015). The main functions of MSCM are to make sure that an organization
sources the raw materials that are essential for the production of goods, warehouse and inventory
are effectively managed, and the smooth movement of the finished products from the company
to the customers is promoted. Considering that modern supply chain management looks into
ways of looking into all processes that affect the movement of goods within and outside the
organizations, it aligns flows to the expectations and the goals of an organization.
To promote effective MSCM, different practices must be embraced. Some of the
practices include; embracing technology in the supply chain, increase inventory velocity,
improve the performance of the supplier, and maximize inventory yield. MSCM does not only
affect the organization, but it also affects the suppliers and the customers (Hazen, Skipper,
Boone, and Hill, 2018). The suppliers are pressured to meet the specific needs of the company