Supply Chain Management A Global Perspective
Supply Chain Management A Global Perspective, 3rd Edition Nada R. Sanders Instructor’s Manual
Author Name: Nada R. Sanders
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SANDERS, SUPPLY CHAIN MANAGEMENT 3E
INTRODUCTION TO SUPPLY CHAIN ECONOMICS
- Define “supply chain management” and the activities involved.
- Identify the flows through a supply chain and explain the bullwhip effect.
- Describe the rise of supply chain management and its global implications.
- Describe the characteristics of a competitive supply chain.
- Identify and explain key trends that drive today’s Supply Chains.
- Today’s business environment has forced companies to compete in different ways than just a few years ago. Companies must now be rapid innovators as well as continue to compete on the traditional dimensions of time, quality, cost, and customization.
- The onset of the digital age (internet, mobile apps, etc.), threats to security, and the down economy has forced companies to become more responsive than they may have been in years prior.
- Successful companies understand that they cannot achieve a necessary level of competitive success in today’s global economy without supply chain management.
What is Supply Chain Management?
- Supply Chain Management (SCM) is the design and management of flows of products, information, and funds throughout the supply chain. It involves the coordination and management of all the activities of a supply chain. SCM may appear to be simple, but it is a complex business concept that is far-reaching. Supply Chain is the network of all entities involved in producing and delivering a finished product to its final customer. This includes sourcing raw materials and parts, manufacturing, producing and assembling the products, storing goods in warehouses, order entry and tracking, distribution, and delivery to the final customer.
- A typical supply chain may involve many different trading partners, called stages, which include:
- Every supply chain is different and may not necessarily include each of these components
A supply chain is often called a value chain or a value network. A company’s supply chain is the means in which it competes with others. “Upstream” part of the supply chain: the part of the supply chain that comprise the inbound direction towards the company, or “focal firm.” The stages of the supply chain moving away from the focal firm are termed