Evaluating the Significance of Supply Chain Management

Question: Discuss about the Evaluating the Significance of Supply Chain Management. Answer: Introduction: The essay mainly helps in evaluating the significance of supply chain management on personal and professional growth of an individual. Furthermore, the study also helps in identifying the skills that could be developed by an individual after receiving training in supply chain management. In addition, the novice effectively depicts different types of real life examples, which could help in understanding the significance of supply chain management. Furthermore, exposure to an effective supply chain management could help the individuals develop certain skills, which could be helpful in their future growth (Christopher 2016). Discussion: The training in supply chain management has provided with a practical approaches to get an overview of the process of transit of goods from supplier to the consumers. The training has provided the various insights of the documentation process of the transit of the goods suppliers to manufacturers and to the wholesalers of the materials. The learning of the topic helps in the conceptualization process based on the production flow, information flow and financial cost constraint associated with the movement of the items (Bozarth and Handfield 2016). The key concepts learned in the training program directly focuses on learning of the key concepts related to the optimization of time and cost associated to the delivery of the goods. For example- For the purpose the optimization of time and cost, leading retail companies like Sainsbury, Wal-Mart and Tesco, the companies are known for using program evaluation and review techniques (PERT) and Critical path method (CPM) analysis to know about the sequence of the activities and determination of the time required for the same. This concept would help in carrier by optimizing the tasks related to supply chain operations. The supply chain business of several manufacturing industries is made more efficient by the application of Johnsons Rule for job scheduling (Jacobs and Chase 2013). The learning objectives are also essential in learning about the amalgamation of the core functional areas of the business with the enterprise resource planning. This is essential in knowing about the impact of the business flows like finances, marketing, and procurement and material management on the supply of the goods (Bozarth and Handfield 2016). For example, the ecommerce giants like Amazon, Ali Baba and eBay are known for integration of the core functional areas of the business with supply chain of the products. For the purpose of this integration, most companies are known for using either SAP or Oracle. ERP software helps in the overall monitoring of the supply chain activities with modules like procurement planning (PP) and material management (MM) (Monczka et al. 2015). The other concepts learned from the training helps to know about the sourcing of the suppliers. This concept would help in carrier by integrating the core functional areas with supply chain. According to Stadtler (2015), focus on total cost of ownership includes warehousing, maintenance, environmental quality, training of the employees, and the various type of the cost associated with the transportation of the goods. The training has led to knowing about the concept related to inventory management of the products. These concepts are useful in knowing about the optimum stock amount, which is to be maintained for the purpose of the Supply chain management. This concept is often referred to as lean manufacturing model of Just in time inventory (JIT). For example: Successful implementation of the philosophy is seen in companies like Toyota, Dell and Harley Davidson. These companies have put an augmented focus on the waste reduction strategies and starting of the production of the items only after the client has paid for the same. This has led to economic ordering quantity of the stocks and reduce the overall supply chain cost (Brighthub Project Management. 2016). This concep t would help in carrier by knowing the optimum ordering of the products to improve the overall supply chain flow in the system. Conclusion: The several concepts learned in the training program are in line with the present industry practice of supply chain business. The concepts learned in the training program focuses on the proper alignment of the staff of the supply chain organization. The findings of the training also focus on the sourcing of the suppliers in the practical scenario. The training has made sure the mechanism of the relationship with the suppliers stays in a healthy position. It also shows suggest the various tools for the resolution of the problems of the supply chain industry. The learning objectives also suggest the mechanisms, which will ensure continuous improvement of both the parties. The main objective of the sourcing of the suppliers is helpful in understanding the various factors of the industries, which directly affect the performance of the supply chain operation of company. The inventory control techniques will be helpful on analyzing and establishing of appropriate level of control of the in ventory and risk minimizing techniques. Reference List Bozarth, C.B. and Handfield, R.B., 2016. Introduction to operations and supply chain management. Pearson Higher Ed. Brighthub Project Management. (2016). Examples of Successful JIT Systems - Toyota, Dell, and Harley Davidson. [online] Available at: https://www.brighthubpm.com/methods-strategies/71540-real-life-examples-of-successful-jit-systems/ [Accessed 2 Aug. 2016]. Christopher, M., 2016. Logistics supply chain management. Pearson Higher Ed. Jacobs, F.R. and Chase, R.B., 2013. Operations and supply chain management: the core. McGraw-Hill. Monczka, R.M., Handfield, R.B., Giunipero, L.C. and Patterson, J.L., 2015. Purchasing and supply chain management. Cengage Learning. Stadtler, H., 2015. Supply chain management: An overview. In Supply chain management and advanced planning (pp. 3-28). Springer Berlin Heidelberg.