Supply Chain and Operations Strategy

SUPPLY CHAIN AND OPERATIONS STRATEGY
Table of Content
1. Introduction.
1.1 Understand the fundamental ideas, concepts, and techniques of operations
and supply chain management.
1.1.2 Operations and supply chain management concepts and tenets.
1.1.3 The main forces behind efficient supply chain management.
1.1.4 Competitiveness can be increased through operations and supply chain
management.
1.1.5 Important choices taken by firms to enhance their operations and supply
chain.
1.1.6 Application of several strategic concepts to operations and supply chain
management in businesses.
2. Recognize the methods and procedures used in performance measurement.
2.1 The importance of performance measurement in operations and supply
chain management.
2.2 Analyze numerous organizational performance metrics that are financial,
non-financial, single- and multi-factor.
2.3 The choice and use of key performance indicators for efficient operations
and supply chain management.
2.4 Organizations can increase the effectiveness of their operations and supply
chain management with the use of organizational benchmarking.
3. Conclusion.
4. References.

1. Introduction
Why is it important to study operations management and the chain of operations management
as part of a business education? There will always be an operations management chain
supporting any business activity you may end up being involved with in the future. Operations
management is an essential component of business studies, but it's also crucial to stay up to
date on current operations management practices to spot both positive and negative trends in
business operations and keep your company competitive in today's shifting business
environments. For instance, the Maui Sugar Company's activities were shut down in 2016 as a
result of the Hawaiian sugar business continuing to operate in the same manner for decades
and realizing that they were out of date and no longer competitive.
A supply chain includes everyone involved in directly or indirectly completing a customer
request. The supply chain also includes transporters, warehouses, merchants, and even the real
customers in addition to the manufacturer and suppliers. Every company, including a factory,
has a supply chain that includes all of the tasks necessary to accept and fulfill client requests.
Among these responsibilities are the development of new products, marketing, operations,
distribution, financing, and customer service.
1.1 Understand the fundamental ideas, concepts, and techniques of
operations and supply chain management.
1.1.2 Operations and supply chain management concepts and tenets.
Since supply chain administration (SCM) was a relatively new concept at the time, this paper
performed a fantastic job of summarizing key SCM principles. After more than ten years, this
essay is still regarded as a "classic," and it was republished in 2010 and again in 2013. It has
currently received over 160 citations from academic papers and trade periodicals. We reviewed
the supply chain initiatives carried out by the most prosperous corporations and distilled from
their experience seven core principles of supply chain management to aid decision-making by
managers.
1. Create client segments based on the different groups' needs for services and modify the
chain of supply to profit serve these segments.
2. Tailor the supply chain network to the needs of the different customer groups and their
financial success.
3. Observe market signals, and adjust demand forecasting across the supply chain
accordingly to ensure accurate forecasts and efficient resource use.
4. Improve conversion across the supply chain by differentiating products closer to the
consumer.

5. Use strategic supply management to decrease the total cost of ownership of services
and products.
6. Develop a technological Create a supply chain plan that takes many decision-making
processes into account tiers it paints a precise picture of how information, services, and
goods are moving.
7. Use channel-spanning performance metrics to examine the effectiveness and efficiency
of all efforts made to reach the end user.
The businesses described in this article are just a small sample of the many that have improved
customer happiness and profitability by improving supply chain management. All of these
businesses have recognized the necessity of integrating supply chain activities, even though
they have each followed a different project. As a result, there has been an increase in revenue
because of better asset utilization, cost savings, and price advantages that assist draw in and
keeping consumers.
1.1.3 The main forces behind efficient supply chain management.
Although these factors may influence future supply chains, it is less certain how they will affect
the fundamental mechanisms of such supply chains. Large data sets will always have a position
in supply chain organizations, it is now widely acknowledged. The way and speed at which data
is examined, however, is the next frontier. With these new techniques for managing and
analyzing data, we can now predict trends and be better equipped to handle those changes
quickly.
Similar to this, social media may give users the chance to contribute feedback at each location
along the supply chain, which can then be applied as useful business intelligence of the
company. The final outcome of social media management will define how helpful it will be to
the company at hand, as with other new trends and technology. Knowledge workers are not a
brand-new concept. In actuality, the phrase dates back more than 50 years. The steady influx of
college-educated, technologically advanced professionals who utilize information as their
principal tool of trade and who are joining organizations, on the other hand, is quite new and
unheard of.
For goods to be artificial and supplied in the proper quantities, at the proper times, and at the
proper locations, suppliers, factories, warehouses, and retailers must be effectively integrated.
This is the focus of supply chain management. A high-performance business model can be
created by connecting important business operations within and across firms using supply chain
management. Therefore, to achieve a high level of efficiency throughout the supply chain and
within it, highly skilled personnel, significant amounts of data, the capacity to evaluate this
data, and open communication are needed.
The world's technological capacity for information storage has approximately doubled every 40
months since the 1980s.Massive volumes of external data surround today's supply chains,

which traditional supply chain systems are unable to use. The amount of data in the "digital
cosmos" of today is doubling twice a year. Along with this exponential increase in volume,
Jeseke, Gruner, and Weiss (2013) point out two more aspects of data that have undergone
significant change. First, information is flooding in. The increased use of linked devices, such as
webcams, cellphones, RFID readers, cars, and sensor networks, has added many new
autonomous data sources. These kinds of devices increase the speed of data gathering and
processing by continuously generating data streams devoid of human involvement.
Many of these systems from the last ten years are either obsolete or only partially useful due to
the big data era. Big data presents an opportunity to establish the customer-centric supply
chain and rethink supply chain operations from the outside in. It is obvious that data volumes
are increasing, but also that data velocity is quickening and data variety is expanding. But given
the current supply chain architecture, the problem is that businesses can't always use the data
they have. To fully utilize the power of big data, new techniques and algorithms must be
created.
A particular segment among the employed population has long used using knowledge and
technology produce supply chain management offers unparalleled value, just as big data and
social networking are still widely used businesses and play a significant role in how decisions
are made and conveyed. The supply chain knowledge workers are those folks. The value that
these people had previously hidden is now there in the operations stream. Although knowledge
workers are common in fields like technology, medicine, and few people outside of the supply
chain industry would consider it a business think that would be favorable for knowledge
workers to exist in an industry that is so clearly focused on operations.
Knowledge workers are in many ways supply chains themselves because their skills and the raw
ingredients that are experiences moving through various channels with the ultimate aim of
offering benefit to the final customer. The flood of knowledge workers and their contributions
will continue to be very beneficial to supply chain management as a field of study and as a
business. We may anticipate that as we enter the new era of the supply chain knowledge
worker, these people will continuously develop new solutions that will enable businesses to
satisfy the always-changing wants of their clients. Knowledge workers will have the opportunity
to reinvent supply chain management in the future and push its bounds farther into the public
consciousness.
1.1.4 Competitiveness can be increased through operations and supply chain
management.