A Short Note On The Supply Chain Management - 1039 Words

Abstract: The supply chain concept has been around for many years, yet most businesses have only paid little attention to what was happening within their organization. The result was a disorganized and often unsuccessful supply chain. However, in recent years, supply chain management has emerged as the foundation in many industries regardless of their size for creating the included relationship between suppliers and customers. This is because the supply chain management has contributed to the increase of offshore sourcing. As a result, globalization has progressed, international trade and capital flows have been expanded, which in turn has contributed to the intensity of price competition. INTRODUCTION Globalization increased the general†¦show more content†¦One of the major benefits of information technology in supply chain management is that it enables collaborative forecasting, which requires all supply chain partners to share information regarding parameters that might affect demand, such as the timing and magnitude of promotions. For instance, Dell Computer shares with their components suppliers all of the promotions, e.g., holiday, back-to-school, etc., that they have planned. These suppliers could, in turn, notify their suppliers of discrete components that a spike in demand is anticipated. These demand forecasts for end items determine the demand for components and coupled with the knowledge of fabrication times, allows all members of the supply chain to provide the right quantity at the right time to their customers. Another element of a collaborative supply chain is the collaborative transportation management (CTM), the name says it all; it is the collaboration between transportation and trading companies to optimize efficiency to remain competitive. Since the logistics and transportation industry is highly competitive, competitors basically help each other and share the responsibility and costs. For example, Collaborative Planning,Show MoreRelated Apply Chain Management vs Traditional Mananagement Systens Essay1406 Words   |  6 Pagescustomers. (FORMAN WEB 13). Supply chain management and customer relationship management are some of the many systems used by firms to accomplish the aforementioned functions. Before comparing Supply Chain Management and customer relationship management systems to Tradition Systems, a brief description of Supply chain management and the activities it involves is fully warranted. 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