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Supply chain professionals need to have an understanding of business continuity basics and strategies, [148] and Tramarico et al noted that several processes from other disciplinary theories, including the resource-based view, supply chain design and interorganizational relationships are integral to a mature understanding of supply chain ...
In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. [6] Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. [7]
Supply chain engineering is the engineering discipline that concerns the planning, design, and operation of supply chains. [1] [2] Some of its main areas include logistics, production, and pricing.
Supply-chain management (SCM) has become increasingly relevant in theory and practice in light of more-complex supply chains. The SCM performs extensive operational tasks, including supply-chain controlling. Seuring [1] transfers the three main concepts of German supply chain-controlling literature into the specific demands of SCM:
Typically, supply-chain managers aim to maximize the profitable operation of their manufacturing and distribution supply chain. This could include measures like maximizing gross margin return on inventory invested (balancing the cost of inventory at all points in the supply chain with availability to the customer), minimizing total operating expenses (transportation, inventory and ...
Marketing should be emphasized by global supply chain managers to create customer value, satisfaction, and loyalty. Customer value, satisfaction, and loyalty lead to improved profit margins, which in turn leads to overall corporate growth. [5] Managers need to think about their strategies and the implication of the strategy on the entire supply ...
Example of supply chain Some additional descriptions for the supply chain. SCOR improves on this by offering a "standard" solution. The first step is to recover the Level 1 and Level 2 process descriptions. Caption from SCOR 8.0 Completed mappings of the supply chain processes with SCOR SCOR thread diagram. The example is of a simple supply chain.
The control of inventory involves managing the physical quantities as well as the costing of the goods as it flows through the supply chain. In managing the cost prices of the goods throughout the supply chain, several costing methods are employed: Retail method; Weighted Average Price method; FIFO (First In First Out) method