Abstract This paper begins by defining supply chain and operations managements as an essential component to the smooth running of any operation or business. It then looks at the changing nature of supply chain management and how the practice is to move to Vendor ManagedInventory (VMI) method. VMI refers to a relatively new supply chain management method in which consuming party or buyer's inventory is maintained and monitored by the supplier. It explains how VMI works and its benefits for suppliers and buyers. The paper concludes by analyzing the implementation challenges of VMI.
From the Paper "Supply chain management is a major concerned of all large and small firms in today's highly unpredictable business environment. While the buyers or distributors are worried about timely deliveries of products and efficiency of products, manufacturers are more concerned about how their customers judge demand and place orders. This is because unpredictable changes in demand can force the customers to place orders for products whose production level has not yet been increased. For this reason, supply chain management has become a major issue."
Abstract This paper discusses whether vendor managedinventory (VMI) is a stop-gap measure or is a permanent strategy on the part of suppliers, supply chain intermediaries and customers. It discusses the factors that have enabled the growth of VMI, particularly with regards to globalization trends. The paper also looks briefly at how to streamline and increase the level of visibility throughout supply chains.
Table of Contents:
Summary
Automating the Vendor ManagedInventory (VMI) Process
Conclusion
From the Paper "In addressing the question of whether Vendor Managed Inventory (VMI) is a stop-gap measure or is a permanent strategy on the part of suppliers, supply chain intermediaries and customers, it's critical to look beyond the cyclicality and recessionary conditions that were in effect when Scouras (1) wrote his article on VMI performance. Since 2002 when the article was written, VMI has become a mainstay of supply chain visibility, performance, and become integral to the development of distributed order management systems globally. The rapid globalization of supply chains and with it, the growth of multi-site manufacturing, sourcing, supply chain, and services locations globally all have been enabling factors of the growth of VMI. In response to these globalization trends there is also a major focus on how to streamline and increase the level of visibility throughout supply chains as well."
Abstract This paper compares and contrasts two types of management systems: the supply chain management system and the inventorymanagement system. The paper begins with a general overview and definitions of the two systems. It then compares and contrasts the systems and evaluates which system is best used in which business management situation.
Outline:
Introduction
Overview of the Management Systems
Supply Chain Management InventoryManagement Comparison and Contrasting the Two Systems of Management Conclusion
From the Paper "Supply chain management is a process of "planning, implementing, and controlling the operations of the supply chain." A supply chain is a general coordination implemented between various systems of entities, activities, information, and resources used in moving a product or service from the supplier to the customer (Wikipedia). Usually a supply chain involves numerous entities, including service providers, distributors, retailers, and manufacturers. Typically a supply chain operates from the issuance of the raw material all the way through the development in the final product ready for sale or use. The purpose of supply chain management is to fulfill the supply chain's goal of fulfilling demand by producing an efficient product or resource. Supply chain management accomplishes this goal by managing all aspects of the supply chain; from the "storage of raw materials, work-in process inventory, and finished goods from point of origin to point of consumption" (Wikipedia)."
Abstract The paper attempts to apply the best practices of demand management to evaluate the benefits of bringing demand management and supply chain concepts into the travel industry. The paper explains how the travel industry requires the highest levels of supply chain integration and optimization possible.
Outline:
Executive Summary
The Many Benefits of integrating Demand Management and Supply Chain Concepts into Travel Industry
What's Needed is a Supply Chain Framework for Travel Industry
From the Paper "Competitiveness in all industries is a direct reflection of their supply chain efficiency, transparency, performance, and ultimately demand management. Each industry has varying degrees of transparency inherent in the formation and structure, operations, and transformation of its supply chains. The travel industry specifically has one of the most visible and easily evaluated supply chains and as a result, more accentuated and advanced approaches to demand management. What is one of the most challenging aspects of the travel industry supply chain is making it sustainable, reflecting the many demand management requirements on it."
Abstract This paper discusses the importance of inventorymanagement in a company and explains the cost of inventory such as storage, insurance and taxes. The author explains the importance of understanding these costs and successful inventorymanagement in order not to incur losses. The paper lists several methods of inventory control such as purchasing plans, and controlling the inventory on order and the inventory in stock. In closing, the paper stresses that successful inventorymanagement involves a manager's ability to balance, and that this is only achievable with a manager who is well educated in inventorymanagement.
From the Paper "Inventory has to do with stock in a company or business of anything that is necessary to produce products for that company or business. The inventory represents a great amount of the investment of the business and needs to be managed well in order to maximize the company's profits. In today's competitive environment, companies cannot afford to lose a sale or a loyal customer due to the unavailability of merchandise. Inventory needs to be controlled or else it can become unreliable, inefficient, and costly."
Abstract The paper defines inventory as all goods and materials used in production and distribution including raw materials, component parts, sub-assemblies, finished goods, and the various products and supplies required in the production and distribution process. The author of the paper shows that Inventory can be a liability as well as an asset: excessive, finished (goods) inventory requires larger warehouses and that many times this is the first indication of bad decisions in the production and process stages. The paper shows that improving product-availability and reducing overall working capital investments, without jeopardizing the company performance is a tightrope that most inventorymanagers have to walk. The paper uses Toyota car manufacturers as an example of successful inventorymanagement.
From the Paper "Inventory personnel have to constantly track market conditions and price trends. Software has to be designed to input these trends to determine the inventory requirements and the Economic Order Quantity (EOQ) (Business Open Learning Archive, online). The inventory manager has also to be in constant contact with the production and the sales department, in order to ensure that stock outs at the sales end do not occur as a result of material shortage at the production end. Computerized systems have helped simplify the purchasing system and have help improve the efficiency of data recording."
Tags:manager, supplier, kanban, system, Just, in, time, (JIT), system, Optimum, Product, Timetables, (OPT), software, Toyota, business, management
This paper discusses the logistics of supply chain management (SCM) including the cases of Nestle, Volkswagen, Volvo Construction Equipment, Alcan and L'Oreal.
Abstract This paper explains that supply chain management (SCM) enables businesses to have an enhanced understanding of the activities that offer component level materials for their end product. The author explains that SCM connects suppliers to databases, which are able to display forecasts, shipping, current inventory or logistics time-frames inside the customer organization. The paper relates that radio frequency identification (RFID) is fast gaining an important footing in certain areas of the supply chain such as warehouse management and inventory control.
Table of Contents
Warehousing and Modern SCM
Use of Latest Technology in Supply Chain for Warehouse Management Radio Frequency Identification
Role and Trends of Packaging in SCM (Case Study of Nestle)
Role and Trends of Warehousing in SCM (Case Study of Volkswagen):
Role and Trends of Warehousing in SCM (Case Study of Volvo Construction Equipment)
Role and Trends of Packaging in SCM (Case Study of Alcan)
Role and Trends of Warehousing through SCM (Case Study of L'Oreal)
From the Paper "Modifications in the supply chain, expectations of the customer, and marketing conditions are putting considerable pressure on warehousing. In the modern era, warehousing needs are presently assessed on a total supply chain basis. The conventional roles of warehousing that include transportation management; inventory management, storage, and customization imply that warehousing have a significant place within the supply chain. There are at least four promising responsibilities for the warehouses in the supply chain. The first of these roles is that warehouses function as flexibility provider. Both the users as also suppliers of warehousing agree that warehousing constitute a basic source of supply chain flexibility. Flexibility normally needs space and labor, as also information. The warehouse is sometimes a low-cost base of all of these resources. Besides, the warehouse can function as an important source of knowledge for the supply chain."
Abstract This paper explains that just-in-time (JIT), total quality management (TQM) and activity-based costing system (ABC) are often directed toward reducing the company's costs as well as maximizing profit, improvement of the operation of the business itself, management competence and good internal and external relations of the organization. The paper then describes the establishment of a just-in-time (JIT) management at Toys-R-Us, total quality management (TQM) at AT&T and activity-based costing system (ABC) at Conoco. The paper also examines the structure and advantages of each program.
Table of Contents:
Toys-R-Us Implementing Just-In-Time Inventory System
AT&T implements Total Quality Management Conoco Implementing Activity-Based Costing System
From the Paper "A total quality system should be designed to promote a reorientation of thinking from an emphasis on inspection to an emphasis on prevention, continuous improvement, and building quality into every process and product. This reorientation should indicate any existing quality problems so that managers can set goals and identify methods for quality improvements. The system should also be capable of measuring quality and providing feedback on quality improvements. Last, the system should encourage teamwork in the quality improvement process."
Abstract This paper examines the function of computerized management information systems (MIS) and then draws upon the literature to identify the ways in which they are used as a tool for tracking client purchases and profiles, business system operations, inventorymanagement and other record-keeping activities found in virtually all businesses and industries in the contemporary world. It looks at how MIS support the business operations and the management of an organization and how computer and telecommunications systems and technologies have virtually revolutionized the ways in which these organizations function. It uses the financial and securities sector as an illustration of the multiplicity of tools, tasks and functions such systems can perform.
From the Paper "The innovations in inventory control mark a dramatic departure from the more traditional "FIFO" (first in, first out) and "LIFO (last in, first out) systems that some manufacturing industries used prior to the advent of the compact, affordable computer. Today, few manufacturing concerns of any size are without basic (And increasingly more and more complex) computerized inventory control mechanisms and systems. Many of these programs employs the basic techniques of PERT (Program Evaluation and Review Technique) and Critical Path Method (CPM) to track costs and outputs from beginning through to sale and distribution (Smykay, 1991). Though time-event networks such as PERT and CPM are more often associated with the planning and control of production itself rather than with inventory management and stocking profiles, they can be used in this arena as well. Even the warehousing and stacking of finished goods requires network planning if it is to be efficient."
This paper is a case study of the use of an individual's Leadership Practices Inventory (LPI) assessment to create this person's developmental strategies.
Abstract This paper explains that, according to the results of the leadership qualities portion of the Leadership Practices Inventory (LPI) assessment, this individual possesses fairly strong interactive people skills in that he is able to involve the people around him in the organization; however he does require development in several categories. The author points out that, within the team development dimension of the LPI wherein co-workers, colleagues and employees are enabled to succeed in a team environment, the subject performs sub-par relative to where contemporary management needs to be in order to meet their productive obligations. The paper states that the focus of his personal development plan is to open up the channels of communication, which are requisite to the establishment of team member trust.
Table of Contents:
Personal Leadership
Team Development
Gap Analysis
Personal Development Plan
Skills for Development
Strategies
From the Paper "The percentile ranking chart clearly indicates that the greatest gaps rest in the dimension of creating a challenging work environment that ultimately would prove more gratifying to the employee and team as a whole and in the encouragement dimension where the employees and team members sense a clear lack of feedback and motivation. These two components go hand in hand and must be addressed simultaneously in the personal development plan. The personal development plan must introduce the subject to motivational paradigms which create a challenging work environment while not creating barriers between the employee and management."
Abstract This paper discusses how yield management strategies, also known as revenue management systems, are used to assist in maximizing revenues in many industries. In particular, it looks at how the basic goal of yield management is to increase the revenue and the contribution by charging a higher price from certain market segments, distribution channels, purchase patterns like length of advance booking, etc., and how hotel chains are now practicing this concept very widely for marketing their hotel room inventories.
From the Paper "The hotel industry is greatly affected by the current market situation which can at best be described as being in a painfully slow economic recovery following an economic downturn, worsened by travel safety and security issues. A survey last fall commissioned by the Travel Industry Association of the USA showed that the majority of the guests who stay away from hotels don"t travel because of the state of the economy. Therefore before a hotel can consider implementing yield management techniques, there needs to be a clear understanding of the changes that have taken place in market conditions. If this isn"t a prerequisite, wrong tactics and strategies may be implemented that can worsen conditions rather than boost profits."
Abstract This paper presents a look at the education of business managers. The author focuses on the management of a sports bar and details the reasons the management team would do a better job if it were better educated in marketing, advertising, inventory control, and employee relations.
From the Paper ""The business world is a booming industry. We have seen many changes over the last few decades and the economic slow down of late is promising to bring more changes still. One of the most important elements of a business and its success failure is the management team that runs the establishment. The management can make or break a place just by the way its run. In a sports bar there are many things to consider when it comes to the practices of running it. Because it is a place that the public comes to spend time there are things that are unique to it. In addition it is a place where in general young people are hired to perform the tasks required to run the business. All of these things mean that the management team needs to be on top of things all of the time. The more educated the management team is individually the more efficiently the business is going to run and the more profitable the bottom line will be."
Tags: organizational, business, management, bar, advertising, training, human, resources
Abstract This paper discusses various aspects and functions of supply chain management (SCM). It looks at the strategic role that can be associated with this function and analyzes what is involved in the successful implementation of this role. The paper outlines how SCM meets globalization challenges and presents a case study analysis of ABC Inc which is a London-based PC manufacturing company having global operations.
Table of Contents:
Introduction
The Definition of SCM
What is Supply Chain?
What is SCM?
The Function of Supply Chain Management Strategic Role of SCM
The Strategic Role of SCM
Benefits Achieved from Strategic SCM
Linking SCM to Company's Overall Strategy
Implementing Supply Chain Management Strategies
Establish Supplier Relationships
ManageInventory Investment in the Chain
Build a Competitive Advantage for the Channel
Increase Customer Responsiveness
Introduce Supply Chain Management Solutions and Enabling Information Technology
Conclusion
From the Paper "Supply chain management is a broader and strategically more significant concept, which includes the entire supply chain from the supply of raw materials, through manufacture, assembly and distribution to the end customer. It includes the strategic and long-term consideration of supply chain management issues as well as the short-term control of flow throughout the supply chain."
"These include the adoption of appropriate attitudes, perspectives, skills and philosophies by all those who are associated with activities in the supply chain. Interpersonal relationships, both internally and externally, play an important part in the development of effective and efficient arrangements. In conclusion, on the basis of new understanding of supply chain and supply chain management, ABC Inc needs to find new ways of navigating in a changing world and to learn how to develop supply chains that enable them to maximise the value for the organization."
Abstract In discussing the impact of e-business on operations management, this essay explains Supply Chain Management (SCM). The advantages of internet-based technologies of e-business are analyzed in comparison to traditional systems. The writer also shows how e-business improved SCM in terms of enabling demand-driven supply chain and much more intense supply chain collaboration.
1. Intro
2. What is Supply Chain Management?
3. E-Business vs. Traditional Systems
4. Reduced Inventory Costs and Stock-out Rate
5. Increased Collaboration
6. Risks
7. Conclusion
8. Reference List
From the Paper "The internet is one of the greatest inventions of the 20th century having revolutionized global communications. Its world wide web enables high speed information exchange at low cost around the globe. This gives companies new business opportunities and provides the basis for the rise of e-business, i.e. electronic business (in some literature it is referred to as e-commerce). The term e-business stands for information exchange and business transactions via the internet and via other electronic devices (e.g. EDI devices). However, for reason of simplification this essay uses the term e-business in relation to internet based technologies only."
Abstract This paper explains that, inevitably, bridges deteriorate over time at different rates: Timely maintenance activities, which are well-planned and carried out with minimal disruption to road users can present substantial savings in terms of both time and money for both bridge owners and road users. The author ponts out that, to tackle the complicated issues regarding bridge management, research activities in the UK as well as other countries in continental Europe concentrate largely on the bridge management process, with attention given to improving the use of limited finances to maximize the returns from the maintenance and repair of the bridge stock as well as reduce additional costs due to traffic delays and lane closures for these activities. The paper includes a critical review of other BMSs used worldwide, development of models to predict bridge condition over time, analysis of the various road user costs and using different optimizing techniques to best allocate finances and optimize bridge performance. 39 tables. 40 figures.
Table of Contents
Introduction
Objective
Bridge Conditions in the U.K.
Introduction
Maintenance and Upgrading
Expenditure
Department of Transport (DoT) Programme
What is a Bridge Management System (BMS)?
Introduction
Department of Transport Structure
Maintenance Agents
BMS in the U.K. and Other Countries
Introduction
Bridge Condition
Other Information in BMS's
Condition Prediction
Cost Models
Decision for Maintenance and Repair
Prioritization
BMS in the U.S.A.
BRIDGIT System
PONTIS System
SMIS System
Inventory Inspection and Assessment
National Structures Programmes (NSPs)
Prioritization
Project Creation
Whole Life Assessment and Costing
Activities Schedule
Data Accuracy
Design Specifications
Access
Integration with External Systems
Bridge Inspection and Assessment
Bridge Inspection Types
Defects
Bridge Scoring
Introduction
Definitions
Bridge Condition Score (BCS)
Bridge Condition Index (BCI)
Bridge Stock Condition Index (BSCI)
Multi Span Bridges
Bridge Scoring Example
Interpreting BCS's
BCS Results
Histograms for Bridge Stock
Interpreting BCI's
BCI Results
Interpreting BSCI's
Predicting Bridge Condition with Time
Introduction
Markov Chain Approach
Example Calculation
Bridge Condition Example
Bridge Condition Results
Bridge Aggregation Example
Bridge Aggregation Results
Bridge Stock Example
Bridge Stock Results
Traffic Costs
Introduction
Traffic Count Example
Traffic Count Results
Traffic Delay Cost Examples
Delay Costs Results (1st Example)
Delay Costs Results (2nd Example)
Accident Cost Example
Accident Costs Results
Environmental Impact
Introduction
Emissions Example
Emissions Results
Decision-Making and Prioritization
Decision-making
Introduction
Prioritization
Introduction
Dynamic Programming
Budget Allocation Approach
Budget Allocation Results (1st Example)
Budget Allocation Results( 2nd Example)
Budget Allocation Results ( 3rd Example)
Improvements to Budget Allocation Approach
Introduction to BCI optimization approach
Service Potential (BCI) Examples
BCI Optimization Results (1st Example)
BCI Optimization Results (2nd Example)
BCI Optimization Results (3rd Example)
Maintenance Costs Examples
BCI Optimization Results (4th Example)
BCI Optimization Results (5th Example)
BCI Optimization Results (6th Example)
Conclusion
Future Research
From the Paper "It is proposed that the transition probabilities to be used are the Bridge Condition Index (BCI), which operates on a linear scale of 0 (worst) to 100 (best). The degree of severity of bridges is linearly distributed over this range (i.e. BCI of 50 to 51 is the same as 90 to 91), except that costs are expected not to have a linear distribution. This is a useful approach as the BCI (average) is interpreted as 'service potential' and is used as a performance indicator.
Using the example for multi span bridges earlier on, the transition probabilities for a three-state Markov chain model with limiting stage value of 3 is proposed. The probabilities are in accordance to the BCI values for the 'good' bridge arranged in order of descending magnitude (i.e. P(1) = 0.9845 and P(2) = 0.9246). For the purposes of comparison, the other two bridges ('medium' and 'bad') are also modelled and the three are plotted together."
