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Supply Chain

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1. Can you think of some specific examples of where safety stock has been an issue in completing a process or project?

2. JIT does have a form of safety stock; can you explain how safety stock works with JIT? Also, what do you think are the challenges in maintaining safety stock for a global enterprise?

3. What do you see as the role of enterprise resource planning (ERP) systems in either synchronous or JIT systems? Do you think ERP could eliminate some of the "trial and error" of JIT?

4. What are the different ways to structure a project, and in what circumstances would you use each? Do you have an example of where you have used project management techniques?

5. What are some ways in which we determine how much safety stock to keep on hand?

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Solution Summary

This solution discussed safety stock, ERP and structuring a project.

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1. Can you think of some specific examples of where safety stock has been an issue in completing a process or project?

An example in which safety stock became an issue in which to complete a process or project is important. This was the case with electric vehicles in Japan. In this country, they struggled to have a back-up plan because of how often they experienced their economy fluctuating because of earthquakes within that region. Because of these factors, this part of the world had limited battery life and a lack of switch stations to charge up cars before they went dead on the owner. From this instance, one learns ways in which to improve the situation because of the formula that is provided for those who are interested in making a difference in the lives of their customers worldwide.

Many supply chains deal with that of safety stock on many occasions. They are the ones that deal with providing the goods to the organizations that are desiring it in order to do business effectively with their customers. This is not an easy task because an individual or those in management can face difficulty due to a lack of supplies needed to meet the needs of others effectively. A person has to consider making this work, whether or not the economy is in fluctuation or recession. Their job is huge in comparison to the companies they work with on a regular basis in order that they meet others need efficiently without causing anyone to become upset.

Yudai, Homna. (2009). Safety Stock. http://www.aporc.org/LNOR/10/ISORA2009F41.pdf.

Lesnaia, Ekaterina. (2004). Optimizing Safety Stock Placement in General Network
Supply Chains. http://web.mit.edu/sgraves/www/LesnaiaThesis.pdf.

2. JIT does have a form of safety stock; can you explain how safety stock works with JIT? Also, what do you think are the challenges in maintaining safety stock for a global enterprise?

How the safety stock works with JIT is imperative. During an average lead time, a person is likely to pay attention to key factors, such as lead time and what is sold ...

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