Elaborate! Strategy Benchmark Ensure you benchmark an industry staple before dec

Question

Elaborate!

Strategy Benchmark

Ensure you benchmark an industry staple before deciding on your supply chain strategies

Supplier Selection

Ensure process utilization is part of your supplier selection strategy. Tools like Caterpillars SQEP, Six Sigma, and ISO are all good tools to utilize when possible.

Outside Improvement Opportunities

Buyer-Supplier relationships, Supplier Integration, and Job Rotations are all examples of improvement opportunities for most companies that I have worked with. It is important to utilize outside resources to provide constructive criticism (opportunities for improvement) for your supply chain management strategies.

Continuous Supply Chain Management

Process Review It is important to review your SCM processes regularly Supply Chain Management is continually evolving and keeping up with evolution will help your company ensure that it is utilizing the best practices available

Explanation / Answer

Supply chain can be considered as the process through which a particular product or service is brought to the customer from a specific supplier. The supply chain process includes various organizations or individuals. Supply chain and its management is very relevant for an organization for making its products and services reach its target customers effectively and makes its accessibility easier to the customers. Hence benchmarking the industry staples and the supply chain strategies according to the specific industry is very relevant.

Implementing the process utilization in the supplier selection strategy can enable the organization to get a credible supplier. Through the utilization of the tools like the ISO, six sigma etc the quality and the credibility of the supplier can be analyzed. It can also be analyzed whether the supplier could meet the requirement of the organization and can make the products accessible to the customers in a better manner.

As specified in the case the buyer-supplier relationship, supplier integration etc can certainly maintain a good bond between the supplier and the organization. this can benefit the organization in many ways. Apart from this inbound strategies so as to maintain the suppliers the management can also focus on the outbound opportunities. This can enable the formulation of better supplier strategies. The outside resources from the secondary research on the supply chain management can be highlighted to the suppliers so as to become more innovative and constructive.

The review of the supply chain management is relevant for the organization to ensure that all process are performing as per the planning and are utilizing the best practices. This process review can reduce the risks associated with the supply chain management and hence can formulate alternate strategies.

All these stages are the part of the effecitve supply chain management.

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