Essay on Supply Chain Management

4058 Words Jun 7th, 2012 17 Pages
SUPPLY CHAIN MANAGEMENT

Supply Chain Management

University of Maryland University College
ITEC610 Section 1142 Semester 0809

Abstract This paper defines the concept of technology in Supply Chain Management used to promote planning, analyze and account for the operations of a supply chain business with the goal being increased profits as well as a satisfied clients. This paper will discuss how to accomplish the benefits of cost, and profits through the use of a Supply Chain Management system. A thorough examination between buyers and sellers, along with the supply chain will be evaluated. This paper will investigate and analyze the ways in which the inventory management at Wal-Mart helps in its
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Supply Chain Management (SCM) overall purpose is to improve trust and partnership among supply chain partners, and improve inventory velocity. According to Thomas and Griffin (1996), at the operational level, “SCM brings together functions that are old as commerce itself seeking goods, buying them, storing them, and distributing them.” Whereas, at the strategic level, “SCM is relatively new and rapidly expanding discipline that is transforming the way manufacturing and non-manufacturing operation meet the needs of their customers”. SCM aims at improved performance through better use of internal and external capabilities in order to create a seamlessly coordinated supply chain, thus moving inter-organizational competition to inter-supply chain competition (Anderson and Katz, 1998; Christopher, 1996; Lummuns et al., 1998; Lambert and Cooper, 2000). SCM is the control of materials, data, and funds as they move in a process through to the end user. It’s cross-functional approach to managing the movement of materials into an organization and the movement of finished goods out of the organization toward the end-consumer involves change of flow within a company and between companies. The ultimate goal of supply chain management system is to reduce inventory. However, supply chain software has become more complex and more expensive. (cite 1) Companies are implementing sophisticated

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