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MAN203 Logistics and Supply Chain Management Editing Services
In this today’s world various functions and several works are performed in order to earn profit. Logistic is concerned with all the activities that are related within the organization. In this report we will discussed how logistics helps in providing right amount of goods to the right people at the right time. On the other hand supply chain refers to networks of companies that work together following activities such as distribution, procurement, and inventory management. It is very easy to say that in this whole project report we will share our view on inventory management, strategic planning. And how supply chain management plays a pivotal role in this globalized world.
Inventory management and strategic planning
Vietnam Supply Chain Corporation has been engaged in delivering value chain services throughout the world. Therefore in order to discharge their work in efficient manner company has to manage its stock in effective manners. Inventory management is a clear term that is used to specifying the goods and stock at different places in adequate manner so that there could be proper supply of the stocks to the clients without any difficulty. In supply chain business organization has to develop an effective inventory management plan to develop good forecasting models and how company could determine right amount of inventory policies so that there should not be blockage of excess funds nor even company has to face low goods quantity in warehouse (Devine, et. Al., 2010).
Strategic planning- It is the long term process to develop an effective idea for the betterment of the organization. Strategic planning in Vietnam Supply Chain Corporation is concerned with following key intents such as it helps in avoiding past mistakes, forecast the future demand and supply position of the market and company and how team could provide efficient services to clients in better manner. Strategic planning in organization is concerned with unstructured problems such as excess demand in the market, employee turnover problems supply of goods and services in market and further more (Sainani, 2014).
Supply chain management in globalized world
Today’s world has become complete globalized and in order to earn more profit each and every organization has to run its business on international level. Supply chain management is concerned with various network of organization whether it is upstream or downstream value chain. In simple world value chain could be described as process that is involved in converting raw material into complete output in the organization and this value chains ends when goods are delivered in the hands of end customers. As per this globalized word and increasing competition in Vietnam Supply Chain Corporation it has divided its supply chain in various parts for its better management. Such as it integrates suppliers, manufactures, warehouse and stores in efficient manner so that system cost could be reduced while satisfying service level requirement (Khan & Pillania, 2010).
Sustainable practice in supply chain management- sustainability in supply chain management is very important to develop in order to draw long term of return on sustainable basis. A sustainable supply chain helps Vietnam Supply Chain Corporation to seize value creation opportunities and helps in developing competitive advantage for creation of effective strategic planning. There are three tier of sustainability of the supply chain management of the corporation.
Teir-1 Getting the basis right-It is concerned with saving basic cost and developing effective footsteps for establishment t of value chain activities. Some basic function that could be seen is centralized procurement of goods and raw material and functioning of distribution channel in the market.
Teir-2 Learning to be sustainability -Vietnam Supply Chain Corporation has to consider the real benefits of sustainability of the supply value chain and how provides a clear plus point in enhancement of profitability.
Teir-3 Measurement of sustainability-This helps in establishment of effective supply chain management process in its inbound and outbound process system. Inbound process is concerned with converting raw material into complete production units in the organization whereas outbound process is involved with distribution channels.
Logistics works in related with holding goods and services at various places and make a complete level of distribution program through the network of business. Vietnam Supply Chain Corporation has been running its business throughout the world and in order to keep adequate amount of stocks and goods it has to develop a proper inventory management system and polices that deals with effect and effective management of day to day activity in producing and procuring goods and product in timely manner. It is clear fact that in order to generate competitive advantage in this competitive environment organization has to put its best efforts to keep good management inventories system.
Supply chain management (The impact of information technology)
Supply chain management is concerned with flow of good and product between supply chain members. Recent development in IT sectors has proved to be very much of help in managing logistic work in efficient manner. Now as day’s world is shrinking day by day with advancement of technology therefore company has developed Enterprise resources planning which are now understood as the core of SPM IT infrastructure. This ERP system captures data in effective manner and helps company to minimize the work by reducing manual work and establish automaton in the works (Mood, et. Al., 2010).
In this report I have understood various core programs of Supply chain management and its key intents in developing effective work place. Now a day with the increment of the technology supply chain management has been completely dependent upon the technology and in order to give strong competition to rivals each and every organization in logistic sector has to establish Enterprises resource planning system. Now I would like to conclude my report by saying that logistic and supply chain management is very complex set of activities and coupled with various network systems that help company to transfer its goods and products from one place to another until the gods are received by the end customers.
Devine, D.V., Sher, G.D., Reesink, H.W., Panzer, S., Hetzel, P.A.S., Wong, J.K., Horvath, M., Leitner, G.C & Schennach, H., 2010, "Inventory Management", Vox Sanguinis, vol. 98, no. 3, pp. e295-e363
Khan K, A. & Pillania, R.K. 2010, "Strategic sourcing for supply chain agility and firms' performance: A study of Indian manufacturing sector", Management Decision, vol. 46, no. 10, pp. 1508-1530.
Mood, C., 2010, "Logistic Regression: Why We Cannot Do What We Think We Can Do, and What We Can Do About It", European Sociological Review, vol. 26, no. 1, pp. 67-82.
Sainani, K.L. 2014, "Logistic regression", PM & R : the journal of injury, function, and rehabilitation, vol. 6, no. 12, pp. 1157.