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Presentation In Operations Management Essay

5994 words - 24 pages

Supply Chain Management PAGE \* MERGEFORMAT 1
Presentation in Operations ManagementSupply chain managementMariam MikadzeNino PilpaniThe University of GeorgiaSchool of Business and EconomicsInstructor: Natia ZedgenidzeTbilisi2011-01-10Supply chain managementIntroductionSupply chain is the system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. A typical supply chain begins with ecological and biological regulation of natural resources, followed by the human extraction of raw material, and includes several production links (e.g., component construction, assembly, and merging) before moving on to several layers of storage facilities of ever-decreasing size and ever more remote geographical locations, and finally reaching the consumer. These activities purchasing and outsourcing activities, plus many other function that are important to the relationship with suppliers and distributors. Supply chain management includes determining transportation vendors, credit and cash transfers, suppliers, distributors, accounts payable and receivable, warehousing and inventory, order fulfillment and sharing customer, forecasting and production information. The objective is to build a chain of suppliers that focuses on maximizing value to the ultimate customer. Competition is no longer between companies, it is between supply chains. And those supply chains are often global.Firms strive to increase their competitiveness via product customization, high quality, cost reductions, and speed to markets, added emphasis is placed on the supply chain. Effective supply chain management makes suppliers partners in the firm strategy to satisfy an ever-changing marketplace. A competitive advantage may depend on a close long-term strategic relationship with a few suppliers.Many of the exchanges encountered in the supply chain will therefore be between different companies that will seek to maximize their revenue within their sphere of interest, but may have little or no knowledge or interest in the remaining players in the supply chain. More recently, the loosely coupled, self-organizing network of businesses that cooperates to provide product and service offerings has been called the extended enterprise.Supply chain management and problemsPrimary objective of supply chain management is to fulfill customer demands through the most efficient use of resources, including distribution capacity, inventory and labor. In theory, a supply chain seeks to match demand with supply and do so with the minimal inventory. Various aspects of optimizing the supply chain include liaising with...

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