Supply Chain Assignment Essay Example | Topics and Well Written Essays - 5000 words

Supply Chain Assignment - Essay Example These include a lean supply chain, an agile supply chain and lastly a hybrid supply chain. This study will seek to discuss the growing supply chain relationship in today’s supply chain management while analysing the various established relationship management models and exploring both the strategic and operational considerations that are extremely essential for enabling a relationship posture that is appropriate within the supplier (Christopher 2004). Additionally, the study explores the various emerging concepts of lean supply management while discussing the importance of both the efficiency and effectiveness brought about by a lean approach and consequently proposing a general approach an organization can initiate, develop and sustain. The growing importance of the supply chain relationship in today’s supply chain management Numerous studies have observed a highly interesting trend amongst the leading companies in the world. The companies are discovering a somehow ver y powerful new source of competitive advantage in the market (Christopher 2004). This is what is increasingly gaining popularity as the supply-chain management. Supply chain comprises of all the integrated activities responsible and that can be traced to the final product in the market and which determines customer satisfaction. Supply chain management by the nature of its existence heavily depends on relationships and connections. In the context of supply chain management, the term relationship implies a lot. This may include strategic relationship, internal relationship, and transactional relationship amongst many more others. What has made supply chain necessary is the benefit that is derived from supplier relationships, most notably the increasing value and supply chain cost minimization. Additionally, the need by most companies to gain competitive advantage has made maintaining supply chain relationship very serious (Robert, Ernest 2002). The programs related to supply chain ma nagement integrates topics from all the departments of the organization which include the manufacturing operations of the company, purchasing of the company’s products, and transportation of the sales, in addition to, physical distribution into a unified program (Robert, Ernest 1989). For supply chain management to be considered successful, it must coordinate and ensure there is integration of all the above stated activities into a process that is seamless (Robert, Ernest 2002). The supply management team should further, in addition to, embracing link all the partners in the chain. Consequently, in addition to, the various departments within the organization, the other partners include vendors, carriers, information system providers and third party companies. The most fundamental objective of the supply chain management has always been to add value. Supply Chain Management has been transformed into a tool that is essential for accomplishing corporate strategic objectives (Fin ancial Executive 2002). Amongst these would include reducing working capital, accelerating cash-cash cycles, taking assets off the balance sheet and increasing inventory turns amongst and most importantly monitoring average annual sales (Carlisle & Parker 1989). Supply chain management has in the recent past become top managements new main focus area. In light