The Strategic Supply Chain Management | Assignment

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 issue that the question highlights is that a particular company with the name FreshConnection has been trying to improve the non-financial and financial performance by theengagement in the strategic management of the supply chain processes.In order to understand the strategic management of the supply chain of the particularmentioned company the meaning of the term supply chain must be understood. The term supplychain refers to the sequence of processes that effectively involve the decision making andexecution of several business operations and the flow of material, cash and information for thepurpose of meeting the needs of the customers. It must be noted here that these processes andflows happen at the different stages of the continuum starting from the production ormanufacture till the final consumption of the product. The essential components that are includedin the supply chain are the suppliers, retailers, producers, transporters, consumers andwarehouses (Fahimnia, Sarkis & Davarzani, 2015).The supply chain strategy management of the company that has to be prepared isessentially a juice company. Hence, the particular strategy in relation to the supply chainmanagement that should be adopted in regards to the inventory or stock of the company is theexecution of proper inventory management. It is the primary duty of the management todetermine whether to maintain any safety stock and the particular amount of safety stock that hasto be maintained in order to prevent the loss incurred on sales and to effectively minimize thecosts that have to be carried forward in case of excess inventory. Thus, the particular techniquesthat should be adopted in order to ascertain the optimal amount of safety stock applicable for aparticular business is the fixed safety stock method, time based calculation method and statisticalcalculation method. The disadvantages that are incurred by a manufacturer firm that maintains alow safety stock is more than the disadvantages that are faced by a manufacturer firm thatmaintains a high safety stock. Nevertheless, the particular recommendation for such a case is thecalculation of the optimal amount of safety stock that has to be maintained (Wu, 2014).The next strategy related to the supplier chain management is that the supplier selectedfor business should be proper and the agreement prepared should be free of errors. This can befacilitated by the preparation of a supplier selection scorecard. The essential indicators that the
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