Strategic Supply Chain Management - Report

Added on - 28 May 2020

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Running head: STRATEGIC SUPPLY CHAIN MANAGEMENTName of the Student:Name of the University:Strategic Supply Chain ManagementAuthor Note
1STRATEGIC SUPPLY CHAIN MANAGEMENTTable of ContentsAnswer to Question 1......................................................................................................................2Answer to Question 2......................................................................................................................4References........................................................................................................................................7
2STRATEGIC SUPPLY CHAIN MANAGEMENTAnswer to Question 1The particular issue that has been highlighted in the question is that the company wants toimprove its financial and non-financial performance by engaging in the strategic management ofits supply chain processes.Supply chain can be effectively defined as a sequence of processes that generally involvedecision making and execution processes and the flow of material, money and information thatmeets the requirements of the customers. Here it should be noted that these processes and flowstake place at different stages of the entire continuum starting from the production till the finalconsumption. The essential components that are included by the supply chain are the producers,suppliers, transporters, retailers, warehouses, consumers and the retailers (Christopher, 2016).The particular company whose supply chain management strategy has to be devised is ajuice company. Hence, the particular supply chain strategy that should be incorporated in relationto stock is that in order to survive the highly fluctuating demand for products, more focus shouldbe put upon inventory management. The management of the company should accuratelydetermine whether to keep any safety stock and the amount of safety stock that has to bemaintained in order to prevent the loss of sales and also effectively minimize the carrying costsof the inventory. Therefore, the particular methods that can be adopted by the management of theorganization for maintaining the optimal amount of stock or safety stock is the fixed safety stockmethod, time based calculation method and statistical calculation method. The disadvantagesobtained by the manufacturer firm that keeps a low safety stock is more than the manufacturerfirm that keeps a high safety stock. However, it is always recommended to calculate the optimumamount of safety stock (Monczka, 2015).The next supplier chain management strategy that might be adopted by the company isthe selection of a proper supplier and the preparation of a proper agreement. The first andforemost step in the selection of a proper supplier is the preparation of a supplier selectionscorecard. The scorecard may contain components like the characteristics of the supplier and thestrategic alignment factors that are considered important by the management, agreement with thecrucial business policies and the particular constraints or issues that may be associated with thatparticular supplier. Preparation of such a scorecard will help the management to filter out the
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