Supply Chain Management: Definition, Description, Examples
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The CEO asked you to have lunch with him and explain exactly how you, in your role, could help the firm achieve a competitive advantage through improved supply chain management. He asked you to discuss the following specific points with him:
• What supply chain management refers to and how it might differ between service type businesses and product type businesses, and between retail and manufacturing type businesses.
• How you would assess whether a firm has an effective versus ineffective supply chain?
Give and explain one example of a firm with an effective supply chain and one with an ineffective supply chain.
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Solution Summary
This solution defines supply chain management and how it might differ between service type businesses and product type businesses, and between retail and manufacturing type businesses. It also discusses how to assess whether a firm has an effective versus ineffective supply chain. It gives an example of a firm with an effective supply chain and one with an ineffective supply chain. APA formatted references are included.
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Supply chain management is the process of getting product from the manufacturer through the distribution channel to the end consumer in the most efficient manner possible. This includes the processes of raw material sourcing, manufacturing, inventory, ordering, shipping, and delivery. Ultimately, it means having the right product in stock at the right time throughout the supply chain while minimizing overstock and out of stocks.
Supply chain management differs between a service type business and product type business in that with a service, one must supply the service on demand, without the benefit of having inventory on hand to anticipate or satisfy needs. Service type businesses work on manipulating ...
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