The Wild, Wonderful World of Supply Chains
In making judgments, the early kings were perfect, because they made moral principles the starting point of all of their undertakings and the root of everything that was beneficial. This principle, however, is something that persons of mediocre intellect never grasp. Not grasping it, they lack awareness, and lacking awareness, they pursue profit. But while they pursue profit, it is absolutely impossible for them to be certain of attaining it.
~Lu Bu-Wei 246 B.C. Chinese Prime Minister
“Although a bold aspiration won’t by itself produce a multitude of nonconformist strategies, its absence always yields bland, me-too strategies. Whether the objective is growth in revenue, earnings, or efficiency, nonlinear innovation begins with unreasonable goals.”
~Gary Hamel
2A - Content: A “supply chain” is the system of organizations, people, technologies, activities, processes, 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.
2A - For your 1st original post, explain the organizations, people, technologies, activities, processes, information, and resources involved in moving your product or service from a supplier to your customer at a local, national or global level.
200 words 3 references
2B - Content: According to Misner and Davis (1998), a business network is a strategically and systematically selected group of individuals who can be relied upon for referrals, knowledge, and support in vital areas of business.
For your second original post, describe the importance of networks in supporting you and your business.
Organizations
The organizations involved in a supply chain can vary depending on the product or service being provided. However, some common organizations include:
- Manufacturers: Manufacturers are responsible for transforming raw materials into finished products.
- Distributors: Distributors are responsible for storing and transporting finished products to retailers.
- Retailers: Retailers are responsible for selling finished products to consumers.
- Customers: Customers are the end users of products or services.
People
The people involved in a supply chain can also vary depending on the product or service being provided. However, some common people include:
- Supply chain managers: Supply chain managers are responsible for planning, organizing, and controlling the flow of goods and services through the supply chain.
- Warehouse workers: Warehouse workers are responsible for storing and picking products in warehouses.
- Truck drivers: Truck drivers are responsible for transporting products between different locations in the supply chain.
- Customer service representatives: Customer service representatives are responsible for providing assistance to customers with questions or problems about products or services.
Technologies
The technologies used in a supply chain can also vary depending on the product or service being provided. However, some common technologies include:
- Enterprise resource planning (ERP) systems: ERP systems are used to integrate all of the different functions of a business, including supply chain management.
- Warehouse management systems (WMS): WMS are used to track the movement of products in warehouses.
- Transportation management systems (TMS): TMS are used to track the movement of products between different locations in the supply chain.
- Customer relationship management (CRM) systems: CRM systems are used to track customer interactions and preferences.
Activities
The activities involved in a supply chain can be divided into four main categories:
- Planning: Planning involves determining the demand for products or services, as well as the supply of raw materials and components.
- Sourcing: Sourcing involves finding suppliers of raw materials and components.
- Manufacturing: Manufacturing involves transforming raw materials into finished products.
- Distribution: Distribution involves storing and transporting finished products to retailers.
Processes
The processes involved in a supply chain can also be divided into four main categories:
- Order fulfillment: Order fulfillment involves the steps involved in fulfilling a customer order, from taking the order to delivering the product.
- Inventory management: Inventory management involves the steps involved in managing the flow of goods through the supply chain, including ordering, storing, and tracking inventory.
- Quality control: Quality control involves ensuring that products meet the required standards.
- Returns management: Returns management involves the steps involved in handling returned products.
Information
The information that is needed in a supply chain can vary depending on the product or service being provided. However, some common information includes:
- Customer orders: Customer orders provide information about the products or services that customers have ordered.
- Inventory levels: Inventory levels provide information about the amount of products or services that are in stock.
- Production schedules: Production schedules provide information about when products or services will be produced.
- Transportation schedules: Transportation schedules provide information about when products or services will be transported.
Resources
The resources that are needed in a supply chain can vary depending on the product or service being provided. However, some common resources include:
- Financial resources: Financial resources are needed to pay for the costs of the supply chain, such as the cost of raw materials, components, labor, and transportation.
- Human resources: Human resources are needed to perform the activities of the supply chain, such as planning, sourcing, manufacturing, distribution, and customer service.
- Physical resources: Physical resources are needed to store and transport products or services, such as warehouses and trucks.