Podcast
Questions and Answers
What is the primary function of logistics providers in a supply chain?
What is the primary function of logistics providers in a supply chain?
What is the main objective of supply chain management?
What is the main objective of supply chain management?
What type of supply chain focuses on the flow of products from customer to supplier?
What type of supply chain focuses on the flow of products from customer to supplier?
What is the term for the ability to track and monitor supply chain activities in real-time?
What is the term for the ability to track and monitor supply chain activities in real-time?
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What is the primary function of distributors in a supply chain?
What is the primary function of distributors in a supply chain?
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What is the term for the ratio of inventory sold to average inventory level?
What is the term for the ratio of inventory sold to average inventory level?
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What is the term for the time from order placement to delivery?
What is the term for the time from order placement to delivery?
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What is a major challenge facing modern supply chains?
What is a major challenge facing modern supply chains?
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Study Notes
Definition and Overview
- A supply chain is a network of organizations, people, activities, and resources involved in the production and delivery of a product or service from the supplier to the end customer.
- It encompasses the entire journey of a product, from raw material sourcing to end customer delivery, including manufacturing, logistics, and distribution.
Key Components
- Suppliers: Provide raw materials, components, or services to the manufacturer.
- Manufacturers: Convert raw materials into finished products.
- Logistics providers: Handle transportation, warehousing, and inventory management.
- Distributors: Deliver products to retailers or customers.
- Retailers: Sell products to end customers.
Supply Chain Management (SCM)
- SCM is the coordination and management of supply chain activities to maximize efficiency, reduce costs, and improve customer satisfaction.
- Includes:
- Supply chain planning and strategy
- Sourcing and procurement
- Production planning and control
- Inventory management
- Transportation and logistics
- Warehousing and storage
Types of Supply Chains
- Forward supply chain: Focuses on the flow of products from supplier to end customer.
- Reverse supply chain: Focuses on the flow of products from customer to supplier, often for recycling or refurbishment.
- Hybrid supply chain: Combines forward and reverse supply chain activities.
Supply Chain Performance Metrics
- Lead time: Time from order placement to delivery.
- Inventory turnover: Ratio of inventory sold to average inventory level.
- Fill rate: Percentage of customer orders fulfilled on time.
- Supply chain visibility: Ability to track and monitor supply chain activities in real-time.
Challenges and Opportunities
- Globalization: Managing complex global supply chains.
- Risk management: Mitigating risks such as natural disasters, supplier insolvency, and supply chain disruptions.
- Sustainability: Reducing environmental impact and improving social responsibility.
- Technology: Leveraging digital technologies, such as blockchain and IoT, to improve supply chain efficiency and transparency.
Definition and Overview
- A supply chain is a network of organizations, people, activities, and resources involved in producing and delivering a product or service from supplier to end customer.
- It encompasses the entire journey of a product, from raw material sourcing to end customer delivery, including manufacturing, logistics, and distribution.
Key Components
- Suppliers provide raw materials, components, or services to manufacturers.
- Manufacturers convert raw materials into finished products.
- Logistics providers handle transportation, warehousing, and inventory management.
- Distributors deliver products to retailers or customers.
- Retailers sell products to end customers.
Supply Chain Management (SCM)
- SCM is the coordination and management of supply chain activities to maximize efficiency, reduce costs, and improve customer satisfaction.
- SCM includes supply chain planning and strategy, sourcing and procurement, production planning and control, inventory management, transportation and logistics, and warehousing and storage.
Types of Supply Chains
- Forward supply chain focuses on the flow of products from supplier to end customer.
- Reverse supply chain focuses on the flow of products from customer to supplier, often for recycling or refurbishment.
- Hybrid supply chain combines forward and reverse supply chain activities.
Supply Chain Performance Metrics
- Lead time is the time from order placement to delivery.
- Inventory turnover is the ratio of inventory sold to average inventory level.
- Fill rate is the percentage of customer orders fulfilled on time.
- Supply chain visibility is the ability to track and monitor supply chain activities in real-time.
Challenges and Opportunities
- Globalization involves managing complex global supply chains.
- Risk management involves mitigating risks such as natural disasters, supplier insolvency, and supply chain disruptions.
- Sustainability involves reducing environmental impact and improving social responsibility.
- Technology involves leveraging digital technologies, such as blockchain and IoT, to improve supply chain efficiency and transparency.
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Description
Learn about the key components and stages of a supply chain, from raw material sourcing to end customer delivery. Understand the roles of suppliers, manufacturers, and logistics providers in the production and delivery of products and services.
