The changing dynamics of Supply Chain Inventory Management - Free Essay Example

Sample details Pages: 6 Words: 1852 Downloads: 8 Date added: 2017/06/26 Category Statistics Essay Type Cause and effect essay Did you like this example? Supply chain management (SCM) is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers (Harland, 1996). Supply Chain Management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption (supply chain). Another definition is provided by the APICS Dictionary when it defines SCM as the design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally. Supply chain management must address the following problems: Distribution Network Configuration: number, location and network missions of suppliers, production facilities, distribution centers, warehouses, cross-docks and customers. Distribu tion Strategy: questions of operating control (centralized, decentralized or shared); delivery scheme, e.g., direct shipment, pool point shipping, cross docking, DSD (direct store delivery), closed loop shipping; mode of transportation, e.g., motor carrier, including truckload, LTL, parcel; railroad; intermodal transport, including TOFC (trailer on flatcar) and COFC (container on flatcar); ocean freight; airfreight; replenishment strategy (e.g., pull, push or hybrid); and transportation control (e.g., owner-operated, private carrier, common carrier, contract carrier, or 3PL). Trade-Offs in Logistical Activities: The above activities must be well coordinated in order to achieve the lowest total logistics cost. Trade-offs may increase the total cost if only one of the activities is optimized. For example, full truckload (FTL) rates are more economical on a cost per pallet basis than less than truckload (LTL) shipments. If, however, a full truckload of a product is ordered to reduce transportation costs, there will be an increase in inventory holding costs which may increase total logistics costs. It is therefore imperative to take a systems approach when planning logistical activities. These trade-offs are key to developing the most efficient and effective Logistics and SCM strategy. Information: Integration of processes through the supply chain to share valuable information, including demand signals, forecasts, inventory, transportation, potential collaboration, etc. Inventory Management: Quantity and location of inventory, including raw materials, work-in-progress (WIP) and finished goods. Cash-Flow: Arranging the payment terms and methodologies for exchanging funds across entities within the supply chain. Supply chain execution means managing and coordinating the movement of materials, information and funds across the supply chain. The flow is bi-directional. Inventory management is primarily about specifying the size and placement of stocke d goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting. Balancing these competing requirements leads to optimal inventory levels, which is an on-going process as the business needs shift and react to the wider environment. It involves a retailer seeking to acquire and maintain a proper merchandise assortment while ordering, shipping, handling, and related costs are kept in check. Systems and pro cesses that identify inventory requirements, set targets, provide replenishment techniques and report actual and projected inventory status. It handles all functions related to the tracking and management of material. This would include the monitoring of material moved into and out of stockroom locations and the reconciling of the inventory balances. It may also include ABC analysis, lot tracking, cycle counting support etc. Management of the inventories, with the primary objective of determining/controlling stock levels within the physical distribution function to balance the need for product availability against the need for minimizing stock holding and handling costs. 1.2 Rationale to the study Most of the researches in supply chain areas are concerned about optimizing the supply chain in terms of its efficiency and competence in the product market, but only limited studies are done considering the inventory management in supply chains. Effective inventory management in a supply chain can play a vital role in cutting inventory holding costs across the different stages of the supply chain, thus emphasizing the need of a general model for managing inventories within a supply chain. Baganha Cohen (1996) developed a stabilizing model for effective inventory management for supply chains. Supply chain materials management methods could be made complex considering a multi product scenario and discontinuous supply chains. So the models developed should have room for all kinds of supply chain variability. Lee Billington (1993) developed a model for inventory management considering decentralized supply chains. 1.3 Overview/Significance of the are under study Inventory management for supply chains could be effective only when the information flow from top to bottom of a supply chain is streamlined. Cachon Fisher (2000) developed a value shared information model and performed a comparative study with the conventional data sharing strategies and end ed up with the proposed model performing better, reducing inventory holding expenses. Strategic plans for the effective 4 distribution of information are essential for supplying goods at the customer expected rate. Mutual sharing and analyzing of the information and standards between the supplier and customer at every stage of the supply chain is crucial and it also nurtures customer supplier relationships. Thus incorporating information flow standards in inventory management in a supply chain will definitely result in increased returns. Supply chains can be streamlined in such a way that they are continuous and follow the chain of activities at any given time. But there are certain cases where the chains appear to be in a broken or discontinuous form due to lack of communication flow and other practical factors that limit them from following the supply chain policy. So in such cases it is extremely difficult to evaluate the inventory management strategies. Materials stored at va rious locations of a supply chain can have divergent effects on the cost and service levels of the chain (Lee Billington, 1993). So managing inventories in such supply chains requires special focus and considerations at all levels. Inventory exist s in the supply chain because of a mismatch between supply and demand. This mismatch is intentional at a steel manufacturer where it is economical to manufacture in large lots that are then stored for future sales. The mismatch is also intentional at a retail store where inventory is held in anticipation of future demand. An important role that inventory plays in the supply chain is to increase the amount of demand that can be satisfied by having product ready and available when the customer wants it. Another significant role inventory plays is to reduce cost by exploiting any economics of scale that may exist during both production and distribution. Inventory is spread throughout the supply chain from raw materials to work in proce ss to finished goods those suppliers, manufacturers, distributors, and retailers hold. Inventory is a major source of cost in a supply chain and it has a huge impact on responsiveness. If we think of the responsiveness spectrum, the location and quantity of inventory can move the supply chain from one end of the spectrum to the other. For example, an apparel supply chain with high inventory levels at the retail stage has a high level of responsiveness because a customer can walk into a store and walk out with the shirt they were looking for. In contrast, an apparel supply chain with little inventory would be very unresponsive. A customer wanting a shirt would have to order it and wait several weeks or even months for it to be manufactured, depending on how little inventory existed in the supply chain. Inventory also has a significant impact on the material flow time in a supply chain. Material flow time is the time that elapses between the points at which material enters the supp ly chain to the point at which it exist. Another important area where inventory has a significant impact is throughput. For a supply chain, throughput is the rate at which sales occur. If inventory is represented by I, flow time by T, and throughput by D, the thee can be related using Littles law as follows: I = DT For example, if the flow time of an auto assembly process is ten hours and the throughput is 60 units an hour, Littles Law tells us that the inventory is 60 x 10 = 600 units. If we were able to reduce inventory to 300 units while holding throughput constant, we would reduce our flow time to five hours (300/60). We note that in this relationship, inventory and throughput must have consistent units. The logical conclusion here is that inventory and flow time are synonymous in a supply chain. managers should use actions that lower the amount of inventory needed without increasing cost or reducing responsiveness, because reduces flow time can be a significant advanta ge in a supply chain. 1.4 Historical Developments In the 1980s, the term Supply Chain Management (SCM) was developed[6] to express the need to integrate the key business processes, from end user through original suppliers. Original suppliers being those that provide products, services and information that add value for customers and other stakeholders. The basic idea behind the SCM is that companies and corporations involve themselves in a supply chain by exchanging information regarding market fluctuations and production capabilities. If all relevant information is accessible to any relevant company, every company in the supply chain has the possibility to and can seek to help optimizing the entire supply chain rather than sub optimize based on a local interest. This will lead to better planned overall production and distribution which can cut costs and give a more attractive final product leading to better sales and better overall results for the companies involved. In corporating SCM successfully leads to a new kind of competition on the global market where competition is no longer of the company versus company form but rather takes on a supply chain versus supply chain form. The primary objective of supply chain management is to fulfill customer demands through the most efficient use of resources, including distribution capacity, inventory and labor. In theory, a supply chain seeks to match demand with supply and do so with the minimal inventory. Various aspects of optimizing the supply chain include liaising with suppliers to eliminate bottlenecks; sourcing strategically to strike a balance between lowest material cost and transportation, implementing JIT (Just In Time) techniques to optimize manufacturing flow; maintaining the right mix and location of factories and warehouses to serve customer markets, and using location/allocation, vehicle routing analysis, dynamic programming and, of course, traditional logistics optimization to maximize the efficiency of the distribution side. There is often confusion over the terms supply chain and logistics. It is now generally accepted that the term Logistics applies to activities within one company/organization involving distribution of product whereas the term supply chain also encompasses manufacturing and procurement and therefore has a much broader focus as it involves multiple enterprises, including suppliers, manufacturers and retailers, working together to meet a customer need for a product or service. Don’t waste time! Our writers will create an original "The changing dynamics of Supply Chain Inventory Management" essay for you Create order

Alzheimer s Disease And How It Affects The Brain

This research paper will be about Alzheimer’s disease and how it affects the brain. It will also tell you many other things about Alzheimer’s. Alzheimer’s disease is named after the German physician Dr. Alois Alzheimer, who first discovered Alzheimer’s in 1906. It is the most common form of dementia, and it is found in around sixty to eighty percent of all cases of dementia. Alzheimer’s is a progressive disorder (physical ailment whose course in most cases is the worsening, growth, or spread of the disease), and it is characterized by large loss of nerve cells and the connection between them, along with change in personality and behavior. Its course is never ending, but pretty predictable. People who are on the upwards of sixty-five†¦show more content†¦As other areas of the brain are affected, the victim becomes more bedridden, and eventually requires total care, after a while the person becomes entirely irresponsive to the outside w orld. The causes of Alzheimer’s disease are still for the most part unknown. Scientists can’t quite pinpoint the exact causes of Alzheimer’s. But for the last twenty years the cause getting the most attention is that it is caused by an excess amount of insoluble fragments of beta-amyloid, then that leads to the loss of connection between brain cells, then eventually the death of said brain cells. (American Scientist, 44) The risk factors can increase the possibility of having Alzheimer’s, but isn’t exactly linked to cause Alzheimer’s. Age, genetics, gender, cardiovascular disease, having down syndrome, depression, immune system malfunctions, endocrine (hormonal) disorders, slow-acting viruses or bacteria, vitamin deficiencies, exposure to electromagnetic fields and accumulation of metals such as zinc, copper, iron and aluminum in the body, or previous head injuries are the risk factors. If you’re older, a female, and have had other people in your bloodline with Alzheimer’s then your chances of getting Alzheimer’s are significantly increased. The chances of getting Alzheimer’s doubles every five years after the age 65. Some research says that the chances of getting Alzheimer’s

Interpersonal Communications Essay Example For Students

Interpersonal Communications Essay Question #1 is the perfect question to answer, in fact, an opertune matter happened between my son, my wife and I, that exhibited all the differences between verbal and nonverbal communication between two very important people in my life. What is the difference between verbal and nonverbal communication? To understand the definition between the two we must first understand the definition of the word communication. Websters defines the word commuication as, the transmission or exchange of ideas, information, etc., as by speech, writing or that which is communicated: a message. However, in the broadest sense, communication is the process of acting upon information. We will write a custom essay on Interpersonal Communications specifically for you for only $16.38 $13.9/page Order now Someone does or says something, and others think or do something in response to the action or the words as they are understood. Which will be described in the matter mentioned. The question ask to my wife and I by our 22 year old son was what do youll think about my girl friend? Not having enough information to answer his question I asked, Do you mean how pretty she is? He answered, No, I mean what do youll think about me living with my girlfriend again? My wife immedately attempted to answer his question which meant she selected what she wanted to hear and focused on the verbal message given by our son at that time. Her answer, Son we have nothing against your girlfriend in general or with you living with her if that is what you want. But, remember youve tried living with her, and you both have had an assortment of conflicts with one another. So, you need to decide if you want to live this way. Her question to him was, do you love her? His aggesivley answered, love is not the point, you dont have to love a person to live with them. To analyze the conversation so far meant to me our son was verbally saying one thing but really meaning another. By his aggresive tone of voice when he answered my wifes question was his nonverbal way of saying that there is a problem with love or caring between he and his girlfriend. To gather more information to try and find out the real message I stated in my wifes defense, that a person does need to care somewhat about another person when in a intimate relationship such as you and your girlfriend. Although love may not be the point, your feelings for her play a big part in answering your question. Than I asked, what are youre feeling for her and do you like being with her? His answer, while holding his hands against his head as if he had an headace, I care for her a lot and I like being with her. I asked, what are the feelings you dislike about her? His answer, what I dont like are the arguments we have and me not being able to do what I want when I want. Also, I cant seem to trust her. She wants me to have my things and she have hers. But I feel if I stop seeing her, I would feel guilty because she helped me when I needed help. We can define verbal communication as the transmission of information as by speech or writing, and nonverbal communication as behavior other than written or spoken language, that creates a meaning for someone. Most verbal cummuicating result in words not always delivering the message due to barriers. For example, our sons question was what do youll think about my girlfriend?, this question could have several answers, therefore it needed confirming before being answered. After confirming the question we now know how to respond. By my wife and I responding with more questions such as, do you love her and what are your feelings for her, brought out the nonverbal portion of the message being communicated, our sons tone of voice changed to be aggressive, he held his hands on his head when he spoke of his feelings. In conclusion the messages our son was really communicating were, he disliked the conflicts between he and his girlfriend. He only wanted to live with his girlfriend because he felt he owed her for helping him, and . Interpersonal Communications Essay Example For Students Interpersonal Communications Essay Question #1 is the perfect question to answer, in fact, an opertune matter happened between my son, my wife and I, that exhibited all the differences between verbal and nonverbal communication between two very important people in my life. What is the difference between verbal and nonverbal communication? To understand the definition between the two we must first understand the definition of the word communication. Websters defines the word commuication as, the transmission or exchange of ideas, information, etc., as by speech, writing or that which is communicated: a message. However, in the broadest sense, communication is the process of acting upon information. We will write a custom essay on Interpersonal Communications specifically for you for only $16.38 $13.9/page Order now Someone does or says something, and others think or do something in response to the action or the words as they are understood. Which will be described in the matter mentioned. The question ask to my wife and I by our 22 year old son was what do youll think about my girl friend? Not having enough information to answer his question I asked, Do you mean how pretty she is? He answered, No, I mean what do youll think about me living with my girlfriend again? My wife immedately attempted to answer his question which meant she selected what she wanted to hear and focused on the verbal message given by our son at that time. Her answer, Son we have nothing against your girlfriend in general or with you living with her if that is what you want. But, remember youve tried living with her, and you both have had an assortment of conflicts with one another. So, you need to decide if you want to live this way. Her question to him was, do you love her? His aggesivley answered, love is not the point, you dont have to love a person to live with them. To analyze the conversation so far meant to me our son was verbally saying one thing but really meaning another. By his aggresive tone of voice when he answered my wifes question was his nonverbal way of saying that there is a problem with love or caring between he and his girlfriend. To gather more information to try and find out the real message I stated in my wifes defense, that a person does need to care somewhat about another person when in a intimate relationship such as you and your girlfriend. Although love may not be the point, your feelings for her play a big part in answering your question. Than I asked, what are youre feeling for her and do you like being with her? His answer, while holding his hands against his head as if he had an headace, I care for her a lot and I like being with her. I asked, what are the feelings you dislike about her? His answer, what I dont like are the arguments we have and me not being able to do what I want when I want. Also, I cant seem to trust her. She wants me to have my things and she have hers. But I feel if I stop seeing her, I would feel guilty because she helped me when I needed help. We can define verbal communication as the transmission of information as by speech or writing, and nonverbal communication as behavior other than written or spoken language, that creates a meaning for someone. Most verbal cummuicating result in words not always delivering the message due to barriers. For example, our sons question was what do youll think about my girlfriend?, this question could have several answers, therefore it needed confirming before being answered. After confirming the question we now know how to respond. By my wife and I responding with more questions such as, do you love her and what are your feelings for her, brought out the nonverbal portion of the message being communicated, our sons tone of voice changed to be aggressive, he held his hands on his head when he spoke of his feelings. In conclusion the messages our son was really communicating were, he disliked the conflicts between he and his girlfriend. He only wanted to live with his girlfriend because he felt he owed her for helping him, and he .

William Shakespeares Hamlet And Sophocles Oedipus The King Essays

William Shakespeare's Hamlet And Sophocles' Oedipus The King For this paper I have decided to include information about both readings we have covered. We read William Shakespeare's Hamlet and Sophocles' Oedipus the King. Through reading both stories and by doing outside research I learned something interesting. This was that a Freudian theory was named for a few of the scenes in Oedipus the King and that this theory was also connected to Hamlet. This theory is known as the Oedipus Complex and when explained can provide a lot of insight into the interpretation of these plays. Its actual definition can be found in psychology books and even most encyclopedia. It is a concept used in psychoanalysis that shows a child's unconscious desire for the exclusive love of the parent of the opposite sex. This desire includes jealousy toward the parent of the same sex and the unconscious wish for that parent's death (Oedipus Complex). Freud talks of the complex in boys and how this leads to attachment to the mother. In most cases it is explained using a boy for the example. (It is also explained for females, as a related complex known as Electra, Myers 464-65 and in Clark 168.) The child starts off as an infant being fed by the mothers' breast or even by bottle, but either way the mother assumes the role of nourishing the child. She also cares for the child's body, so much that in early life the child doesn't even realize that they are or should be separate. With this, Freud says, it arouses in it a number of other physical sensations, pleasurable and unpleasurable. By her care of the child's body she becomes its first seducer. The mother has now established her importance to the child and is its first love object. The further development of a child (positive or negative) can depend highly on how the parent and child interact after this point. The most commonly used example I saw in Psychology books talks of when a mother notices her child curiously playing with himself. The mother realizes her connection to these actions and eventually, there will be an age at which the mother decides that it is unacceptable behavior. This can lead to the mother requesting that the behavior stop. The child now is forced to conceal his behavior or in a lot of cases is threatened with being told on or talked to by the father. This was shown by Freud to lead to issues of resentment towards the father. This is closely linked to how the term Oedipus Complex came about. In Oedipus the King Jocasta, Oedipus' mother, realizes what is going to happen to her family after hearing what the oracle had to say. She is told her newborn son will grow to kill his father and marry his mother. She doesn't want the child she has cared for to have to live this prophecy so she sends her son away to die. By trying to escape her own fate she later leads her son right into killing his own father. Oedipus grows up living a lie, the son to the King and Queen of nearby Corinth. He is ignorant to what was foretold. One day a drunkard gets him to question his origins and he travels to Thebes to see what he can find out about what really happened and whether or not the people he was raised by were actually his parents. On the road to Thebes, a man confronts Oedipus and he kills him without a second thought. In his ignorance he had just killed the man who turned out to be his real father, Laios. In effect, Oedipus unconsciously kills his own father, which Freud related to the unconscious desires felt by children throughout their normal early development. As the plot goes on we see what the oracle said coming true. Oedipus ends up in Thebes to find a widowed queen. Being of royalty himself Oedipus marries the queen not knowing it was his own mother. Not only has fate itself brought them back together but also, if you look at it through Freud's theory you see it is true once again. Oedipus' unconscio us desire