SUSTAINABLE SUPPLY CHAIN MANAGEMENT PRINCIPLES
From working personally with the Woolworths company I was able to see how and why inventory was transferred from suppliers to stores. The Woolworths company uses a very simple inventory management system. As a supermarket, having the adequate number of stock in stores at all times is pivotal in keeping customers satisfied after every shop at a Woolworths store. In order to achieve this goal, Woolworths supermarkets use an electronic inventory management system that sends alerts to the specific warehouse when stock is low or is expected to run out. This is used through vertical integration which is “the strategy of where a company expands its business operations into different steps on the same …show more content…
Sustainable supply chain management is somewhat overlooked when looking at how the company can improve right now but is arguably just as important. Defined as “the management of environmental, social and economic impacts, and the encouragement of good government practices, throughout the lifecycles of goods and services” (BSR). Proven to show that there is a correlation between sustainable supply chain management and positive economic performance (Kirchoff, Omar, Fugate 2016) building a successful supply chain must not only take into consideration of the companies present needs but also take into account the future requirements of the business. There are many factors that play a part in the sustainability of a supply chain system. Some of which are the quality of suppliers, strong supplier partnerships, monitoring these relationships and supplier evaluation and …show more content…
With thousands of workers and hundreds of suppliers, supply chain managers must be of the highest quality in order to keep everything running smoothly. In order to make sure that these supply managers have the ability to do this though, Woolworths must ensure that the technology used to track inventory is suitable and in working order. Suppliers must also believe that they are valued by the company and not just another spoke on the wheel. This is why the continuous source of appreciation for suppliers whether that be through recognition or awards is important in the relationship between Woolworths and its suppliers. If Woolworths are able to continue this trend however of a positive supplier to focal firm relationship the company should be in good condition going
From working personally with the Woolworths company I was able to see how and why inventory was transferred from suppliers to stores. The Woolworths company uses a very simple inventory management system. As a supermarket, having the adequate number of stock in stores at all times is pivotal in keeping customers satisfied after every shop at a Woolworths store. In order to achieve this goal, Woolworths supermarkets use an electronic inventory management system that sends alerts to the specific warehouse when stock is low or is expected to run out. This is used through vertical integration which is “the strategy of where a company expands its business operations into different steps on the same …show more content…
Sustainable supply chain management is somewhat overlooked when looking at how the company can improve right now but is arguably just as important. Defined as “the management of environmental, social and economic impacts, and the encouragement of good government practices, throughout the lifecycles of goods and services” (BSR). Proven to show that there is a correlation between sustainable supply chain management and positive economic performance (Kirchoff, Omar, Fugate 2016) building a successful supply chain must not only take into consideration of the companies present needs but also take into account the future requirements of the business. There are many factors that play a part in the sustainability of a supply chain system. Some of which are the quality of suppliers, strong supplier partnerships, monitoring these relationships and supplier evaluation and …show more content…
With thousands of workers and hundreds of suppliers, supply chain managers must be of the highest quality in order to keep everything running smoothly. In order to make sure that these supply managers have the ability to do this though, Woolworths must ensure that the technology used to track inventory is suitable and in working order. Suppliers must also believe that they are valued by the company and not just another spoke on the wheel. This is why the continuous source of appreciation for suppliers whether that be through recognition or awards is important in the relationship between Woolworths and its suppliers. If Woolworths are able to continue this trend however of a positive supplier to focal firm relationship the company should be in good condition going