Supply chain optimization

Vendor Selection Optimization In Supply Chain Management Abstract— An effective vendor selection process is very important to the success of any manufacturing organization. Simply looking for vendors offering the lowest prices is not efficient sourcing any more. We propose a multi-criteria decision making method, which accounts for both vendor selection and optimal order allocation. We also propose a policy for unselected vendors to maintain a competitive environment and derive maximum benefits. The model ranks vendors on the basis of their efficiency scores, derived from data envelopment analysis (DEA). These scores are then utilized in forming policies to retain the interest of unselected vendors in the selection process. Integer programming model is then used to select the vendors and allocate optimum order quantities to them based on their scores, while considering the buyer and vendor constraints. Keywords— vendor, criteria, data envelopement analysis, integer programming I. Introduction A supply chain is a network which connects customers, vendors, inventories, and retailers, and each role plays part in providing customers with a service or product. The management of this chain has become a critical aspect in today’s fiercely competitive business environment. Supply Chain Management (SCM) is now an integral part of company activities covering areas such as purchasing management, transportation management, production management, ware housing management, inventory…

Real Time Analytics in Supply Chain Paradigm shift Over a decade, we have witnessed a paradigm shift in the way information is generated and handled in society. The change is driven by various factors: our vastly increasing ability to store and perform computation over very large sets of data; and most importantly the introduction of Internet of Things. The amounts of data available when making decisions or keeping an overview is enormous and is produced at ever increasing rates and the…

Alvin Wilson Professor Amy Berrier Eng101 11th June 2016 Argument Essay on Effectiveness of Information Technology in Supply Chain Management “Is there a need for Supply Chain Technology to be implemented in all of the Supply Chain process?” In my opinion, it is imperative to utilize cutting edge supply chain technology from the start of the chain to the finish in order to be assured a competitive edge, profit maximization and corporate survival. Some people do not see the need for…

established is beneficial. The organizations that have come together to promote this tool were once referred to as two separate associations, the Supply Chain Council (SCC) and APICS. Supply Chain Council, the originator of the SCOR model, and APICS merged in 2014 to deliver the best professional association in one “global provider of supply chain research, education, and certification programs.” (Supply Chain Council to Merge with APICS, 2014) Members of what is now referred to as APICS…

Big data analysis is changing supply chain management for the better. The technology is producing quantifiable improvements in supply chain operations around the globe. Manufacturing logistics is an increasingly complex process, and companies are incorporating big data analysis to manage operations throughout their enterprises. As engineers create more innovative technologies, it is helping firms track and efficiently allocate their vast new resources, and even though big data is fledgling, it…

to have effective inventory management. This case, explored the challenges that these companies faced, during the difficult dot.com period. Thus, we discovered that the basic components of an effective supply chain model (pull approach), must include gathering input from finance, sales, IT, marketing, and key customers. Further, for the best optimization of this model, it is necessary that IT be involved to integrate the key elements. Thus, by utilizing this model, information can be shared…

I chose the article in Dataflog as it combines two issues that have been disruptive to my personal experience and knowledge during my study at IE: big data analytics global diffusion and demand forecasting in supply chain management. The article is about how Tesco supermarkets chain realized the value of its Clubcard to get the insight into its customers’ behaviors and received detailed data on two-thirds of all shopping baskets. Tesco used the big data analytics in predicting the demand of…

SUMMARY / KEY POINTS The article talks about the relationship between the knowledge management (KM) process and the supply chain performance. Moderators that were considered for the empirical study are - information technology/information system (IT/IS) support, supply chain integration, and supply chain strategy. There is a positive moderation of the IT/IS support for the KM process on the supply chain performance. To scale up operations the IT/IS investments seem unavoidable. It helps improved…

Good afternoon Mr. Smith, I am writing to you today because I am seeking your approval for tuition reimbursement for the Global Supply Chain Management course that I just complete as part of the curriculum for the University of Houston MBA program. As you may know my professional background had previously been entrenched in research science, and although I had some surface knowledge of business processes and practices, I was not well versed in the intricacies and interplays that exist in the…

offshoring is exemplified by the company’s outsourcing of the both the cutting of salmon to the proper portion size as specified by Darden, and cracking or peeling of shrimps. Overall, Darden has successfully utilized the fundamental principle of supply chain and Just in time delivery to improve its profitability and presences within the business arena. Remarkably, the company has been able to integrate and coordinate their activities in order to improve the flow of products from their…