The Characteristics of Supply Chain Management and Supply Chains
Over the past years, Supply Chain (SC) and Supply Chain Management (SCM) have been noted to play a crucial role in corporate efficiency, not to mention that they have immensely attracted the attention of several scholars. Due to the cropping up of liberalization as well as the globalization of the international trade, the production factors involved in sourcing and consumer products from destinations across the globe has enhanced the interdependence between the producers and wholesalers on the global supply chains. Significantly, the current elevating importance of computer-based communication technologies has highly influenced the application of communication networks in the supply chain management.
Accordingly, the literature behind supply chain management has offered a number of variations on the same theme in supply chain definition. In simple terms, supply chain management can be defined as a system of suppliers, retailers, customers, distributors and even manufacturers whereby the products flow downstream from the suppliers to the consumers, while information flows in both directions. On the other hand, a supply chain can be defined as a network of facilities as well as distribution options that operate to procure materials and transform these materials into intermediate and finished products, alongside distributing these finished products to consumers. Evidently, supply chains exist in the service and even manufacturing enterprises, even though the chain’s complexity may greatly vary from firm to firm and industry to industry.
According to several researches, it is evident that there are a great number of characteristics that differentiate supply chain management approach from other channel relationships. Based on business-to-business relationships, supply chains and even from executives, the following characteristics have been observed: inventory management approach, amount of mutual sharing as well as monitoring of information and even total approach. Other features of supply chain management include time horizon, joint planning, the amount of multiple levels’ coordination in the channel, compatibility of corporate philosophies, channel leadership, breadth of supplier base, amount of sharing of risks alongside rewards and the speed of physical and information flows between and within the entities. Such features have, however, been contrasted between supply chain and traditional, independent relationships due to technology advancements.
1. Hugos, M. (2018). Essentials of Supply Chain Management (Essentials Series). Boston: Pearson.
Subtly, this resource is a major descriptive guide to supply chain management, which provides broad coverage as well as necessary detail from a real-world and practical point of view. Hugos depicts a clear explanation of significant concepts to insightful discussion of innovation activities of the supply chain by offering an ample introduction with immediately-applicable knowledge. This material has been updated with the aim of reflecting the current state of this field, covering the latest technologies together with novel case studies that illustrate significant perceptions in action.
Thus, this material demonstrates the manner through which supply chain underpins the whole framework of retailing and manufacturing. If this phenomenon is well-run, it has the capacity of helping any enterprise to become an international behemoth. On the other side, if poorly managed, the firm in question may sink even before the product is developed. In this sense, Hugos maintains that supply chain is comprised of several moving parts and constantly-changing variables, alongside a network of other business, which may contain distinct priorities as well as interests.
Therefore, as explored by the author of this material, any business will be affected by every other firm and event in the chain, whether one is at the front or even at the back of his/her supply chain. Significantly, a deep know-how, coupled with a host of practical skills play a huge role in accurate prediction, reaction to and management of the ever-changing stream of events that may potentially disrupt the flow.
2. Christopher, M. (2016). Logistics & Supply Chain Management (5th Edition) 5th Edition. FT New York: Publishing International.
In this material, Martin Christopher deeply observes that any effective development along with management of supply chain networks has significant role in helping businesses to cut costs and even improve consumer value. Through two broad chapters, the author uses new and updated examples together with case studies. The first chapter (Routes to Market) covers strategic issues on the manner by which firms enter a market and the cost implications of applying diverse channels. The second chapter (Service logistics) explores logistics management implications as a requirement of providing higher service levels, not to mention that support turns into continually more significant.
As noted in this book, it is evident that supply chain management along with effective logistics remain to be key to competitive advantage achievement. As a result, Christopher demonstrates that better development and management of one’s supply chain network does not only cut costs, but also improves one’s customer value. As per the current volatile marketplace, it is quite significant to design supply chains that are more flexible and that have the capacity of changing than ever.
Therefore, this material is quite relevant to the scope of supply chain management features as it clearly shows that today’s competition is no longer between companies, but between supply chains. In this sense, it remains evident that the best approach is the integrated method, which takes account of relationships networks, product design and sustainability, on top of procurement logistics and distribution.
3. Cohen, S. & Roussel, J. (2013). Strategic Supply Chain Management: The Five Core Disciplines for Top Performance, Second Editon. New York: McGraw-Hill Professional.
The authors of this book have drawn on dozens of novel business examples, together with cutting-edge benchmarking study to show the way to make a supply chain more flexible, lively and resilient. By using easy tables and diagrams, Cohen and Roussel explain how to develop a supply chain strategy that helps in realizing business goals and the manner through which an individual can design process architecture, mapping out the activities of the end-to-end supply chain. Again, they demonstrate how to implement transformational change, create the most effective supply chain enterprise and built the most beneficial relationship with one’s supply chain partners.
As observed in the book, the advent of global marketplaces, fast-changing consumer preferences, heightened competition as well as the accelerated product innovation pace, have all elevated the effect of supply chain on business profitability alongside long-term success. However, there is evidence demonstrating cultural challenges that face successful supply chain design. As a result, this book has provided a platform that addresses these challenges.
Thus, this resource is quite relevant as it provides a straightforward path for developing as well as deploying a global supply chain strategy, which addresses today’s priorities of the executive management teams. It is a book that is highly crucial for executives who are in the process of taking their supply chain performance to the next level.
4. Chopra, S. (2015). Supply Chain Management: Strategy, Planning, and Operation, Global Edition: Strategy, Planning, and Operation. Boston: Pearson.
In this book, Chopra introduces a high-level strategy together with concepts, not to mention that this author outlines the practical tools that are necessary to solve the problems of supply chain. Subtly, this resource weaves in compelling case study examples, providing a vivid insight into how best supply chain management offers a competitive advantage. On the other side, the dangers of poor supply chain management are depicted to show the manner by which they can damage the health and performance of an organization.
Through the application of a strategic framework, the author of this book provides a guide through all of the main drivers of supply chain performance, for instance, facilities, inventory, pricing, information, transportation and even sourcing. At the end of it, this resource provides a deep understanding of the supply chains on top of giving individuals a firm grasp on the practical managerial levers to pull so as to enhance supply chain performance.
Thus, this material remains relevant to this course as it provides an introduction to analytics in supply chain; supported by the practical and plenty of examples present. In other words, this book remains to be highly crucial for operations management and it explains the decisions that need to be taken in optimizing the different aspects of the supply chain.
5. Lysons, K. & Farrington, B. (2016). Procurement and Supply Chain Management. Boston: Pearson.
Procurement and Supply Chain Management remains to be a market-leading text that is one of the most comprehensive materials on procurement and supply chain management in the current era. Lysons and Farrington use real-life examples a truly global focus on supply chain and procurement, covering novel developments in this field. Again, they have deeply covered project procurement and risk management, contract management, global sourcing and a single chapter on legal and contractual management.
Substantially, these authors have updated the content such that it reflects changes like contract risk, the European Procurement Regulations, procurement strategies, category management as well as world-class procurement. The two authors have carried out an extensive study on a global scale to reflect changes of material in the profession of procurement.
Suffice to say, this material is highly useful not to mention that it is a valuable source of both practical and reference data for practising professionals. Again, this material offers great value to individuals aspiring to become leaders in this profession, together with those engaged in professional studies and the one’s eager to develop their skills in procurement.
6. O’Brien, J. (2015). Category Management in Purchasing: A Strategic Approach to Maximize Business Profitability. Philadelphia: Kogan Page.
O’Brien provides a comprehensive guide to strategic category management in this source, where he provides a step-by-step guide of implementing and using it. The book plainly provides the necessary devices, techniques and even applications that enable the reader to execute this cost saving method of purchasing. The author demonstrates the manner through which a strategic approach has to function effectively together with other methods, like Supplier Relationship Management.
Effectively, this material fills a need in the literature on supply chain management alongside providing the reader with a methodical insight into the principles and mostly important, the application of category management. The book provides a clear definition and knowledge of category management, alongside providing a step-by-step guide to the techniques, devices and application of category management. Moreover, it allows the first reading to analyse complicated sourcing situations quickly and clearly, on top of developing innovative sourcing proposals.
O’Brien’s text is quite useful in supply chain management since his step-by-step guide equips an individual to deliver both value and cost savings (a main characteristic of supply chain management) when sourcing and purchasing. Time consciousness is evident as the book allows people to analyse complex sourcing circumstances clearly and quickly and sourcing innovative proposals’ development.
7. Schonsleben, P. (2016). Integral Logistics Management: Operations and Supply Chain Management Within and Across Companies, Fifth Edition 5th Edition. New York: CRC Press.
In this book, the author has covered both the practical and theoretical aspects of the varying characteristics, approaches and tasks, alongside techniques of planning as well as control in company logistics. The author has added a chapter on supply chain design that covers the integrated design of production, retail, distribution, service and even transportation networks. Moreover, he has added a section on sustainability in supply chains that comprises the measurement of environmental performance.
Notably, this material has explored the logistical characteristics of product variety that include made-to-order, engineer-to-order, assemble-to-order as well as additive manufacturing for individualized orders. The text is noted to provide the readers with online access to diverse elements and other useful downloads. Again, the book provides a section on product families together with one-of-a-kind form of production that comprise of novel methods for efficient production environment.
As a matter of fact, this material is highly useful as it provides simplified theories, popular catchwords along with magic formulas that are quite significant in dealing with real-life logistics, operations and mostly supply chain management situations. On top of this, it is vital to note that the complex reality of everyday’s operations in businesses within industry, with the service sector demanding highly diligent work.
8. Simchi-Levi, D., Kaminsky, P. & Simchi-Levi, E. (2007). Designing and Managing the Supply Chain 3e with Student CD 3rd Edition. New York: McGraw-Hill Education.
The authors of this book have provided a state –of-the-art forms, solution approaches together with concepts that are highly crucial in designing, controlling, operating and managing of the supply chain systems. Particularly, they aim at conveying the intuition behind the different concepts of supply chain, on top of providing simple techniques, which may be applied in analysing the several supply chain’s aspects.
Subtly, in this text, these authors have been noted to have a high desire of introducing readers to those aspects contained in the supply chain management, which are highly significant to the success of the company. Even though, a great number of supply management issues have been noted to be interrelated, these three authors have attempted to make each section as self-contained as possible so as to make it easier for readers to directly refer to each chapter/section.
Therefore, this book is observed to be very useful and valuable in the supply chain management as it deeply emphasizes on the importance of finding or developing effective frameworks that depict numerous critical supply chain issues. At the same time, this text contains extra material on diverse novel topics, a phenomenon that is motivated by novel developments in business.