Importance of Supply Chain Management Essay - 965 Words

The Importance of Supply Chain Management Supply chain management (SCM) is very important and effective to all companies. David Simchi-Levi, Philip Kaminsky, and Edith Simchi-Levi defines supply chain management as â€Å"a set of approaches utilized to efficiently integrate suppliers, manufacturers, warehouses, and stores, so that merchandise is produced and distributed at the right quantities, to the right locations, and at the right time, in order to minimize systemwide costs while satisfying service level requirements.† Supply chain management, also called logistics network, includes suppliers, industrialized centers, warehouses, distributions centers, and retail outlets, as well as unprocessed materials, work-in-progress stock, and†¦show more content†¦Thomson Gale says, â€Å"In addition to helping to create an efficient, integrated company, supply chain management also plays a large part in reducing costs. Depending on the industry, companies leading in supply chain performance achieve savings equal t o three to seven percent of revenues compared with their median performing peers.† There are many different ways that SCM can help make a company more efficient and effective; such as strategic partnerships, information sharing, outsourcing, the Internet, and e-business models. The use of strategic partnerships builds a relationship between the suppliers and buyers that can help both parties reduce their cost, which also builds trust between them both. Information sharing is used by supply chain partners for manufacturers to be able to utilize retailers’ current sales information to better forecast demand and diminish lead times. It also helps manufacturers to manage the unpredictability in supply chains, and from doing this it reduces inventory and evens out production. The big responsibility to cut costs pushed more businesses to begin outsourcing, which is finding other suppliers from out of state or country to supply them with the products better and more cost effec tively. An innovation that has expanded businesses profits and services is the Internet, because it allowed manufacturers to deal directly with consumer business models. E-business models, which are related to the Internet,Show MoreRelatedImportance Of Operations And Supply Chain Management884 Words   |  4 PagesImportance of Operations Organizations’ have matured over the years; they have learned and adapted to become more strategic in every aspect of their business. One way organizations’ have done this is by understanding the importance of operations and supply chain management. The author will explain how operations and supply chain management evolved to what it is today, how this is important to the company’s strategy, and define the dimensions of the quality. Evolution Everything adapts and changesRead MoreImportance Of Supply Chain Management ( Scm ) Essay791 Words   |  4 PagesThe purpose of this memo is to inform all staff of the importance and resources of Supply Chain Management (SCM). An effective SCM design assists in the enhancement, profitability, and stakeholder value for the company. Potentially, increasing opportunity for employee advancements within the organization. Through research and analysis, the SCM consists of five drivers: †¢ Production †¢ Inventory †¢ Location †¢ Transportation †¢ Information (Maududi, May) The drivers are SCM fundamentals critical toRead MoreImportance Of Supply Chain Management ( Scm )3206 Words   |  13 Pages The Importance of Supply Chain Management Term Research Paper Ryan Hibbs Dr. Stanton BUS 311 B 8 December 2014 Importance of Supply Chain Management The leading companies around the world utilize a new method of business coordination that gives them a competitive edge in the market. Supply chain management gives companies the power of that competitive edge. Supply chain management (SCM) is defined as including all the activities that must take place to the right product intoRead MoreThe Importance Of Green Supply Chain Management1230 Words   |  5 PagesYour Paper https://www.paperrater.com/plagiarism_checker/show_full/44063df5d48963b1bd571e91e ABSTRACT Top manufacturers in advanced countries normally have high environmental awareness and gadget practical environmental management observes such as green supply chain management (GSCM). Still, it is uncertain if lesser manufacturers in established coun- tries are more practical than all manufacturers in unindustrialized countries. To recognize this situation, we carried out surveys between minor andRead MoreEssay on The Role and the Importance of Supply Chain Management 1612 Words   |  7 Pages1. Introduction The report highlights in detail the role and the importance of Supply Chain Management (SCM) in an organization with respect to Radio Frequency Identification (RFID) and its growing impact in the industry and talks about the changing SCM trends keeping RFID as the focal point. Over the past few years, the increasing dynamism and competition in the business operating environment has led to a lot of changes in how the companies conduct themselves with respect to its customers. CustomersRead MoreExamine the Strategic Importance of Supply Chain Management to a Manufacturing Firm. What Are the Major Types of Supply Chain Strategies Open to Such a Firm?1030 Words   |  5 PagesSCM is the management of a network of interconnected businesses (such as distributors, wholesalers and retailers) involved in the ultimate provision of product and service packages required by end customers. It 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). Principles of SCM are: - Internal integration of purchasing and supply, manufacturing and physical distribution management - ExternalRead More1.1 Explain the Importance of Effective Supply Chain Management in Achieving Your Organizational Objectives.1528 Words   |  7 Pages1.1 Explain the importance of effective supply chain management in achieving your organizational objectives. Supply Chain Management as defined as Maximising added value and reducing total cost across the entire trading process through focusing on speed and certainty of response to the market†. Competitive Edge through Core Competencies Todays business climate has rapidly changed and has become more competitive as ever in nature. Businesses now not only need to operate at a lower cost toRead MoreSupply Chain Management Essay528 Words   |  3 PagesSupply chain holds a special place in B2B e-business. With the growth of internet and businesses operating electronically, the product life cycle has reduced to a large extent. This has increased the competition among the organizations to better manage their supply chain to satisfy the customers need in a competitive market. With the growth of information technology, the trends in determining the demand and supply are changing drastically. The organizations are developing and implementing betterRead MoreSupply Chain Management And Healthcare Industry1745 Words   |  7 PagesSupply Chain Management –For Healthcare Industry Introduction: Economic downturn in Healthcare sector has given renewed importance to supply chain management in healthcare industry. Supply chain management has great effects on hospital organizations. On papers Supply chain accounts for 30 to 40% in healthcare industry but that is only if we consider just the cost of goods under the supply chain , instead if we look at factors like cost of inventory , cost of procuring and other costs associatedRead MoreSupply Chains and Inventory Management Essay1155 Words   |  5 PagesSupply Chain and Inventory Management December 6, 2008 Supply Chain and Inventory Management With the increased globalization, competition and complexity in global supply chains, more companies have realized that supply chain management is critical to the optimal organizations overall operation. It is no longer just the responsibility of the warehouse manager and logistics director (Pundir, 2008 and Wharton). In the past, many organizations didn’t manage their supply chains they left that

The Effects Of Drilling On Offshore Drilling - 1667 Words

To spark a drastic change, typically something drastic and eye opening needs to occur. Looking back in recent United States history, there have been many accidents, attacks, and natural disasters that have sparked conversation as well as legislation for change. The BP oil spill in the Gulf of Mexico, which began on April 20, 2010 and raged on for months caused tremendous devastation and pollution to the ecosystem. Discussion about offshore oil drilling and regulations was inevitable after the spill. In President Obama’s Oval Office speech after the spill, he makes a claim that offshore drilling must be more strictly regulated, and a shift towards clean, renewable energy must be made. In light of this disaster this is a controversial claim due to the United States current reliance on offshore drilling and the scandalously close relationship between oil companies and the agency that regulates them. Although Americans benefit from offshore drilling with cheaper oil prices and aff ordable energy, and companies benefit from loose regulations with high profitability, ecosystems and natives suffering through the spill would argue that these benefits do not outweigh the cost. When President Obama claims that strict regulation on oil drilling and a shift toward renewable energy through policy implementation, he threatens a powerhouse market that is a major player in the economy. He also creates a divide in schools of thought over the reach government through regulation. This paperShow MoreRelatedThe Drilling For Oil Drilling1490 Words   |  6 PagesEnglish 1A 15 April 2015 Offshore Oil Drilling This day and age, oil is what makes the world go around. Without it, people cannot travel, be able to use fuel oils for electricity and heating, there would not be asphalt roads, and also there would not be chemicals used to make plastics, or other synthetic materials that humans use every day. Oil is a useful resource but the ways that are used to obtain it are not very appealing. One way it is obtained is by offshore drilling. According to an articleRead MoreWhat Happened At The Macondo Well1007 Words   |  5 Pagespoisonous sludge, slowly poisoning ourselves and all other inhabitants. There are many ways we do this, offshore oil drilling being one of them. Offshore oil drilling is the process of drilling into the earth and pulling up petroleum, a natural fuel source made of decomposed organisms. While there are many positive effects, there are too many negative ones for oil drilling to continue. Offshore oil drilling is too dangerous to be considered safe for use in the ecosyst em. Not only is it too dangerous, oilRead MoreOffshore Oil Drilling On The Environment1474 Words   |  6 PagesOffshore Oil Drilling â€Å"If we do nothing, it doesn t matter how we feel. And that’s exactly what oil companies are banking on: out of sight, out of mind† (Hart, 24). Petroleum is a naturally occurring oil found under deep layers of rock (â€Å"oil drilling†). Oil drilling is when a pipe penetrates through these several layers of rock in order to reach the petroleum oil underneath. This oil can then be purified or turned into gasoline for energy use. Offshore oil drilling, like its’ name describes, isRead MoreOffshore Oil Drilling and the Deepwater Horizon Spill of the Gulf of Mexico1591 Words   |  7 Pagesfossil fuel, oil drilling is used. Land-based oil drilling became less productive and as the global stipulation for energy increased, technology, law, and geology impacts stepped in and pushed the exploration of oil away from shores (CITE). With its historical background, offshore oil drilling is one of the most important aspects of today’s economy although we are faced with its risks and consequences, such as the BP Deepwater Horizon explosion of the Gulf of Mexico. Offshore oil drilling is known asRead MoreEssay about Drilling for Oil in The Gulf of Mexico985 Words   |  4 Pagesbeen the topic of heated debate among supporters and opponents, especially when it comes to offshore drilling. My goal here is to show the differing view points of drilling for oil in the Gulf of Mexico and present a better understanding from a national perspective. Drilling for our own offshore oil reserves can save the United States billions of dollars. HISTORICAL OVERVIEW For Decades offshore drilling in the Gulf of Mexico has provided much of the natural petroleum recourses to meet the greatRead MoreOil Spills Caused By Offshore Drilling Essay1390 Words   |  6 PagesOils spills caused by offshore drilling in California (Santa Barbara) Introduction: This paper is about the effects of offshore drilling particularly it discusses â€Å"oil spills caused by offshore drilling in California†. These oil spills that are caused by offshore drilling affect the environment in the long run. Even some of these impacts on the environment by oil spills last for decades (Larry West). For example when an oil slick arrives at the beach from a huge oil spill then it sticks to eachRead MoreThe Drilling For Offshore Drilling1433 Words   |  6 Pageschoice whether we want to be more self-reliance or have a safer environment. That brings us to the subject of offshore drilling in regards to the Deepwater Horizon Oil Spill. Offshore drilling is the process of drilling for oil offshore in places such oceans or sea beds through an oil rig. Sound like something non-complex. Many would assume that offshore drilling could not have very much effect in regards to onshore. The most politically correct way for a person to decide where they stand on this issuesRead MoreOffshore Drilling1527 Words   |  7 Pages Offshore Drilling Does anything out weigh the importance of our planet’s health? You would be surprised by the number of people who look the other way when it comes to keeping the planet clean. Offshore drilling is just one of the major environmental issues that has existed for many years and still continues to be a problem. The topic of offshore drilling not only touches on environmental issues but also political, economic, and ethical issues. All of these tie into the huge debate over offshoreRead MoreBenefits Of Offshore Oil Drilling1062 Words   |  5 PagesOffshore oil drilling is a big contribution to obtaining oil for the U.S., but it is also a big controversy to continue offshore drilling or to stop the drilling. most of the world’s energy comes from the use of oil, even though there are other resources to use oil is the most commonly used, But there is a shortage in oil especially in the U.S. so they suggest drilling for oil in the ocean to reach unexplored oil wells. There ar e benefits in offshore oil drilling such as jobs, domestic fuel, andRead MoreThe Drilling Of Fshore Drilling Industry1509 Words   |  7 PagesThe offshore drilling industry can be split into 5 key markets: upgrade market, contract drilling market, second-hand market, scrap market and contract drilling market. Among them contract drilling market is most important, because it ensures smooth cash flow between markets. drilling units is summarised in the table below. The table above describes cash flow within offshore drilling markets. Contract drilling market leases drilling units to OG companies to drill or service wells, in turn they

Lab Report on Enzyme Reactions Free Essays

Lab report April 14, 2013 Abstract: In this article, we will experiment on the significant in strength of the enzyme by using three different test tubes and measuring the amount of product they give off. To determine this we are going to test the amount of color absorbance by using a special tool to help us understand our results. We will see how our end results show the effect of the amount of concentration we apply to each test tube. We will write a custom essay sample on Lab Report on Enzyme Reactions or any similar topic only for you Order Now The results would be shown by the support of two graphs. Introduction: Enzymes are highly important because of the significant role they play in living things and animals. They are a factor which allows whether or not a reaction occurs. To find out the amount of strength an enzyme has, we need to first understand our outcome. In this experiment, our products will determine the strength of our enzymes by measuring the amount of color change. We must understand the measurement of the appearing product means in the experiment. We will determine this by using a special equipment to help us understand our result better. In this study we will see how a specific enzyme could vary based on the different types of factors that affect it. The question we are going to be addressing in this study is, will the amount of enzyme concentration affect a reaction? Materials and Methods: The materials used in the making of this experiment are as stated: Three test tubes, 10. 5mL of distilled water, 6mL of Catechol, 1. 5mL of Extract(potato), a Spectronic 20 (spectrophotometer), Wax pencil, a Test tube rack, three Parafilm, tissues to clean the Spectronic 20 and the test tubes, 3 pipets and a timer. So we won’t confuse ourselves, we used the wax pencil to label each test tube as we placed the required amount of substance in each of them. To avoid any slight errors, we also used three different pipets for the three required materials, which are the distilled water, catechol and the extract, respectively. It’s important to take the precise measurement so there won’t be any errors in doing the experiment. It’s also important that the extract goes last due to the reaction occurring in a timed pace. Results: According to the graph shown above, we see our lay out of the experiment being done. We can see how the materials are being distributed in each test tube according to the amount of ingredients required. This is highly crucial because a slight mistake can impact the experiment being done. Our end result is as follows: According to the experiment done today, we see that in test tube two, it show the most absorbance or color change. This shows that the enzyme’s strength was stronger than the rest, resulting into having more reaction and color change among the others. Discussion: As stated before, the question we had was, will the amount of enzyme concentration affect a reaction? The end result was yes, the amount of enzyme concentrated inserted into each test tube did have a significant affect to the reaction by the amount of products it gave off (color strength). We used the extract (enzyme) as our independent variable because this is what we are testing. In contrast, we used the amount of absorbance as our dependent variable. We also made sure that our control done in this experiment was the catechol. As predicted, we were able to have more enzyme reaction in one of the test tubes than the others. The knowledge we gain today was how much the amount of concentration enzyme affects the other ingredients. We see that our experiment done today can further lead into more research as in how enzymes are used to rapid an action. It’s also important because we should know the reason why and how enzymes reactions occur at a fast rate. How to cite Lab Report on Enzyme Reactions, Papers