SUPPLY CHAIN MANAGEMENT FINAL PROJECT Four major issues to
control when it comes to managing supply chain are: Managing
Inventory Managing inventory goes beyond counting how many boxes of
pencils are sitting in your warehouse. It involves keeping enough
inventory on hand so your company can be flexible while meeting all
customer and client expectations. Appropriately timing orders is
also involved as to ensure all items (or components of an item)
arrive at the designated time without your company facing major
delays. This also involves carrying enough stock so your company
doesn’t run out—but not so much stock that profits are affected.
Managing Suppliers Along with managing inventory comes managing
suppliers. Supply chain managers are responsible for knowing when
they need multiple suppliers for one item, dealing with suppliers
when there are delays and ensuring all orders received meet quality
controls. They’re also responsible for finding suppliers with
consistent and reliable service at a price that doesn’t hurt your
bottom line. Maintaining Safety and Quality The globalization of
your supply chain can be paired with concerns about the quality of
products that are made in other countries (or contain components
from other countries) that may not meet regulatory standards. This
puts companies at risk of recalls. This means that supply chain
managers are responsible for ensuring suppliers and their products
maintain safety and quality standards. Recalls or safety issues can
damage a company’s reputation and affect things like cashflow. Risk
Mitigation Supply chain managers are responsible for ensuring their
company isn’t devastated by problems with a supplier. Companies
that are too reliant on one supplier are vulnerable if that
supplier can’t meet demands. This means that supply chain managers
must mitigate risks, so an earthquake in Asia doesn’t halt the
production line in North America, for example. They have backup
plans to ensure that if one supplier goes bankrupt, their company’s
supply chain continues on without profits being affected. Supply
chain managers have a complex job. They factor in all the risks
along their supply chain; ensure the company has the supplies it
needs when it needs them. They’re also always working hard to
reduce any recalls or safety issues. Supply chain management is
something that often goes undetected when it’s going smoothly—those
who are good at it make it look easy, even though it rarely is. To
Do:
1. Imagine you own a company that makes YOUR FAVORITE
PRODUCT.
2. Include all the steps it takes to gather the ingredients or
components to make the product and get it to the people who want to
buy it.
3. Write about what you would do to control Inventory,
Suppliers, Safety, Quality and avoiding risk in the Supply Chain
Management process.
4. Please include the following information too: o Company’s
Headquarters Location o Where do they (you) distribute their
products- what countries or parts of the world? o Where do they
(you) manufacture their products o Write a conclusion where you
describe what part of the Supply Chain Process you enjoyed the
most. What career in Supply Chain would be a good match for your
personality? For example: Logistics Manager, Procurement Agent,
Negotiator, Transportation Manager, Warehouse Manager, etc.
