Understanding Supply Chain Management
Prepared by:
Damandeep Singh, 0717233
Date:
September 11, 2018
IBM 303: 004 Global Trade Logistics
Instructor David James St. Pierre
1. By providing this picture in the power point slides, supply chain adage denotes that each commitment of supply chain must be solid and should be well interlinked to each other, so that the bond is shatterproof, and the process goes smoothly without any breakage. In the second picture that one bond gets broken, at that point it will highly influence the entire supply chain as the procedure will get interrupted for example if there is a shipment coming from India to Canada by ship the product got transported in intact condition from India and after that when it reaches the mother hub in the middle of the way there is a big break in the process that the person who labelled the product was incorrect and the product reached to Thailand instead of Canada this shows that if there is one breakage then it can affect the whole process and at last customer suffers, and it will likewise make issues for different bonds to finish their job.
As seen, every step of supply chain is equally important on its own and has its own particular task. So, adage is crucial to the effective and efficient operation of a supply chain.
2. The success of any business is intimately linked to the performance of the supply chain. Along with the design of supply chain strategy, the design of the supply chain is most important in any business. Supply chain is independent on every single part and task of the Supply Chain Management as each has its own and importance and they all are well connected to each other in different ways. Hence, each of the front- end characteristics of Supply Chain Management are significant to the primary and long- term success of overall supply chain.
3. The fundamental difference between what we call logistics and what we refer to as supply chain is that supply chain is an enormous concept which consists of all the planning and management activities involving sourcing, procurement, warehousing, packaging and labelling, inventory management with invoicing and documentation and all the logistics management activities and it also includes activities of planning, distribution, financing, implementing etc. On the other side Logistics is a part of supply chain and thus it is micro level study which involves planning, implementing and controlling the flow and storage of raw material and finished goods and other information from where it was started.
