Operations and Supply Chain Management (OSCM) includes a broad area that covers both manufacturing and service industries, involving the functions of sourcing, materials management, operations planning, distribution, logistics, retail, demand forecasting, order fulfillment, and more.
A supply chain is involved in processing or using these materials or even providing services to customers using these materials. Professionals in these fields also work with processes and increasing efficiencies with processes. Operations and supply chain professionals have a place in all of these environments.
Managing Supply Chain Operations Lei Lei Pdf Free Download
Download File 🔥 https://bltlly.com/2yGcff 🔥
Logistics management is that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services and related information between the point of origin and the point of consumption to meet customers' requirements.
Logistics management activities typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory management, supply/demand planning, and management of third-party logistics services providers. To varying degrees, the logistics function also includes sourcing and procurement, production planning and scheduling, packaging and assembly, and customer service. It is involved in all levels of planning and execution--strategic, operational and tactical.
Logistics management is an integrating function, which coordinates and optimizes all logistics activities, as well as integrates logistics activities with other functions including marketing, sales manufacturing, finance, and information technology.
In Manufacturing and Operations: Sourcing, Procurement, Buying and Planning. Titles include Purchasing Agents, Schedulers, Customs Brokers, Buyers, Contract Administrators, Materials Analyst, Foreman, Production Manager, and upwards to more senior roles.
Supply Chain and Operations careers exist in more than manufacturing. You can find relevant work in all industries where processes are important and products or material is moved, i.e. healthcare, banking, education, government, military, consulting, airlines, entertainment, nonprofit, retail, energy, and of course, the freight and third party logistics industry.
Supply chain management is important because it can help achieve several business objectives. For instance, controlling manufacturing processes can improve product quality, reducing the risk of recalls and lawsuits while helping to build a strong consumer brand. At the same time, control over shipping procedures can improve customer service by avoiding costly shortages or periods of inventory oversupply. Overall, supply chain management provides multiple opportunities for companies to improve their profit margins and is especially important for businesses with large and international operations.
Effective supply chain management systems minimize cost, waste and time in the production cycle. The industry standard has become a just-in-time supply chain where retail sales automatically signal replenishment orders to manufacturers. Retailers can then restock shelves almost as quickly as they sell products. One way to further improve on this process is to analyze the data from supply chain partners to see where to improve further.
When a customer orders more products than the manufacturer can deliver, the buyer can complain of poor service. Through data analysis, manufacturers might be able to anticipate the shortage before the buyer is disappointed.
Choose suppliers to provide the goods and services needed to create the product. Then, establish processes to monitor and manage supplier relationships. Key processes include: ordering, receiving, managing inventory and authorizing supplier payments.
IBM Sterling Supply Chain Intelligence Suite is an AI-based optimization and automation solution. Designed for organizations struggling to solve supply chain disruptions through traditional transformation, the suite facilitates supply network resiliency and sustainability, increases agility and accelerates time-to-value through actionable insights, smarter workflows and intelligent automation.
Our Supply Chain faculty has extensive industry and academic research experience in the dynamic field of supply chain management, and works with industry leaders through their Supply Chain Resource Cooperative on research and student projects.
When COVID-19 began to spread in 2020, many factories and businesses shut down, impacting the global supply chain. According to Axios, 75% of U.S. companies saw their supply chains disrupted early in the pandemic.
The pandemic also caused one-fourth of companies to experience a 50% drop in sales, according to the World Bank. Approximately 1.4 million manufacturing jobs in the U.S. were lost early in the pandemic, according to the National Association of Manufacturers.
What is supply chain management, and why is it important? Supply chain management is the overseeing of the flow of goods and services from raw materials to final products. It includes all the processes involved in getting products to customers, such as shipping.
As the global economy recovers, demand and supply continue to be at odds with each other. Take, for example, the more than 80 container ships that were waiting to be offloaded outside California ports in mid-November 2021 as the holiday shopping season began, according to a Bloomberg report. This logjam provides a visible example of the importance of effective supply chain management.
Supply chain management keeps the mechanisms of supply and demand operating smoothly so that people have access to goods and services. From sustenance and shelter to the way we work and entertain ourselves, a well-oiled supply chain is critical for maintaining economic stability and a functioning society.
Supply chain management is the handling of the entire process of turning raw materials into a final product. Without the supply chain, we would not have access to food and health products, or the items that allow us to work, travel and entertain ourselves. Supply chain management involves a network of suppliers connected via a centralized management process. Each supplier acts as a link that moves a product along a chain of production, from raw material suppliers to manufacturers to retailers.
Supply chain management sets the foundation for economic growth by enabling the exchange of goods between businesses and consumers. The important role of supply chain management and its impact on economic growth is possible because of the entities involved in the supply chain, which include the following:
Modern supply chains help improve living standards by enabling consumers to buy essential products at lower costs. This is because an effective supply chain streamlines the process of getting products to market, and ultimately to consumers.
The pandemic played a major role in disrupting the current supply chain in several ways. For example, many factories in low-cost manufacturing hubs in Southeast Asian countries such as Vietnam, Indonesia, and Malaysia shut down or slowed production, hitting global companies hard financially.
In some cases, product prices rose abruptly. Food prices were affected as well. Prices for meat, poultry, fish, and eggs went up 10.5% for the year ending in September 2021, according to data from the U.S. Bureau of Labor Statistics (BLS).
As global markets recover, demand is increasing while manufacturing is still limited, creating a mismatch in the equilibrium between supply and demand. In economic theory, this is known as the scarcity principle.
Geopolitical forces can tighten the supply of global commodities, creating artificial disruptions in the supply chain. Recently, sanctions and the crackdown on supplying microchips to Chinese companies have disrupted the global semiconductor industry. In a world heavily reliant on technology, the global shortage means limited access to components that run our devices, computers, and electronics. Carmakers have also reported declines in sales due to problems in the global supply chain, including microchip shortages.
Another aspect of geopolitics that affects supply chain management is taxation and documentation at ports. Every country has different rules, regulations, and laws that can often change. This means that exporters and importers must be in tune with the changes to ensure their products make it to their intended destinations. Missing important documentation can mean that a shipment of products may sit at a port indefinitely, creating financial losses for businesses.
Supply chain management has many moving parts, requiring systems and tools that help streamline processes, improve efficiency and strengthen accuracy. The role of information systems in supply chain management is to help businesses manage supply chains through scheduling, sourcing, supplier management, and data analytics.
These systems help organizations oversee the key elements of the supply chain, from resource development to logistics. They can help organizations keep track of different participants in the supply chain, including suppliers, warehouses, transport companies, retailers, manufacturers, and customers.
The primary role of information systems in supply chain management is to ensure businesses have access to the information they need to make the right business decisions. For example, operational visibility allows companies to assess fluctuations and anomalies in their business. By leveraging data in their internal systems (and public data), businesses can act intelligently on identifying and solving supply chain issues before they become big problems.
The role of finance in supply chain management is vital. Finance and accounting functions bring stability and flexibility to supply chain management by helping suppliers and buyers in the following ways:
The role of finance in supply chain management is evolving to help organizations explore supply chain opportunities. This includes using advanced technology that shares financial and transaction data. This visibility into financial data across all entities in a supply chain can help in the creation of sophisticated financing programs focused on optimizing the balance sheet requirements and liquidity of all entities involved in the supply chain. 152ee80cbc
zindagi gulzar hai novel in urdu pdf free download