Development of Supply Chain Relationships

Development of Supply Chain Relationships

Introduction

To understand and beginning with framing this paper, we shall dwell and discuss the concepts and processes that were involved in the area of what we call operations management. This paper not only covers and discusses core concepts; theories and analysis that had been delivered and discussed within this module, but will also narrate a reflection upon the importance of Supply chain management and its significance in the world of business today.

Supply chain management, to begin with a simple definition, is defined as a set pattern of rules, regulations and processes that would help and align all the core components of business operations, in the midst of producing or delivering quality goods or services. Supply chain management must be inculcated into the organization for the sole purpose of managing all courses of action that prevail in cost-effective and timely execution of operations and smoothly running a business (Carter, 1998).

The supply chain management collaboration refers to technology partnerships etc. in which reuse or recycling relationships and supplier evaluation can also be used to manage supplier chains for environmental quality. Collaborative supply chain management is a term applied to a management philosophy and to the practices involved in implementing a SCM philosophy, although it can also be used to describe management processes that are not necessarily rooted in a guiding philosophy. As a management philosophy, SCM collaboration is a systems approach that involves assembling a team of upstream (suppliers) and downstream (distributors and end users) partners with a common goal of satisfying a particular customer value or set of values. A collaborative supply chain, considered as a system that can also be described as a distributed network or channel through which information, materials, labour, equipment, and currency flow. Though supply chains themselves are not new, four major developments forced thinking about them differently than in the past. The first motivating force came from the communications technology advances that forever changed the span of the marketplace for both the producer and the consumer. The second was the trend toward outsourcing in general, and global outsourcing in particular, which the information age enabled. The third was the increasing importance of timeliness in the marketplace. The fourth was the increasing emphasis placed on quality in all aspects of production and delivery, and creating competitive advantage among the competitors to stand out.Supply chain management has made me a much more stronger, efficient and responsive business candidate, who could deliver impressive performance when inducted into an organization. It must be understood that in today's modern world of rapid development and expansion, operations management plays a pivotal role in the establishment and escalation of organizations and employees on both a personal and professional level. With reference to personal development, operations management has helped me gain in-depth insight regarding the ebbs and flows of all the business dealings and transactions that take place and are necessary for a company to excel and survive in the long ...