logistics and supply chain decision making and research

Question 1

Discuss the benefits of effective supply chain management

Answer 1

1. achieving supply chain targets.
2. reduce supply chain wastage:
   When resources of a company are effectively managed, supply chain wastage is reduced, thereby lowering overall costs and attaining the state of ‘resource optimization
3. simplifies supply chain organizational structure.
4. increases supply chain stability.
5. increases supply chain profits.

Question 2

Discuss the steps in supply chain decision making

Answer 2

1.identify the supply chain decision to be made.
2. gather relevant information.
3.identify alternative supply chain actions.
4. weight the evidence.
5.choose among supply chain alternatives
6. take action.
7. review supply chain decisions and consequences.

Question 3

Discuss the objectives of supply chain research

Answer 3

1. To gain familiarity with existing supply chain issues or to achieve new insights into
   them.
   2.To portray accurately the characteristics of a particular supply chain issue or a group
   of supply chain issues.
   3.To determine the frequency with which supply chain issues occur or with which
   such issues are associated with other supply chain issues.
   4.To test a hypothesis of a causal relationship between supply chain variables.

Question 4

Discuss the basic types of supply chain research

Answer 4

1.Descriptive vs. Analytical supply chain research.Descriptive research is a research method that describes the characteristics of a population, situation, or phenomenon.Analytical research is a systematic method of studying a subject by critically analyzing existing information to explain complex phenomena.
2. Quantitative vs. Qualitative supply chain research.Quantitative research deals in numbers, logic, and an objective stance.Qualitative research is a scientific method that explores the nature of phenomena by gathering and analyzing participants’ experiences, perceptions, and behaviors.
3.

Question 5

Discuss the basic steps of supply chain research

Answer 5

Developing a statement of the supply chain research question
Developing a statement of the supply chain research hypothesis
Defining the supply chain research instrument
Gathering the supply chain research data
Analysing the supply chain research data
Drawing conclusions regarding the supply chain research hypothesis.

Question 6

Describe the following management tools:
–– Balanced scorecard
–– Benchmarking
–– Business process re-engineering
–– Change management programmes

Answer 6

1. A Balanced Scorecard defines an organizations performance and measures whether
   management is achieving desired results.
   2.Benchmarking improves performance by identifying and applying best demonstrated
   practices to operations and sales.
2. Business Process Re engineering involves the radical redesign of core business processes
   to achieve dramatic improvements in productivity, cycle times and quality.
3. change management:
   Change Management Programs enable companies to control the installation of new
   processes to improve the realization of business benefits.
4. A Core Competency is a deep proficiency that enables a company to deliver unique
   value to customers. It embodies an organization’s collective learning, particularly of
   how to coordinate diverse production skills and integrate multiple technology

Question 7

total quality management , zero based budgeting and outsourcing

Answer 7

Total Quality Management (TQM) is a systematic approach to quality improvement
that marries product and service specifications to customer performance.
2.4.7 Zero-Based Budgeting
Zero-Based Budgeting is a broad-reaching cost transformation effort that takes a “blank
sheet of paper” approach to resource planning. It differs from traditional budgeting
processes
by examining all expenses for each new period, not just incremental ex
expenditures
in obvious areas. Zero-Based Budgeting forces managers to scrutinize all
spending
and requires justifying every expense item that should be kept.
2.4.8 Outsourcing
When Outsourcing, a company uses third parties to perform non-core business activity
ties.
Contracting third parties enables a company to focus its efforts on its core com
competencies.