?p��8�7���*Dڷn��:��Ѵm���b�F��Q�V�3�j�Z���1\�`��]ͮg��ddL����ّ_��& �t�ť%���WO�l�����1'�*F��O�u�ɵ��������Z8��Q�;����Z��?�Wx��5�j�4���`kIQ�J7�w�W� 9¨������A�i�6�N�U�}lc�X�����k����^.���;X�)�$��5i�`U�j��%̧�����+��X}��m�PQ~�I�7�R[�J��~,����z,DF+D�5p�.t�S�i���. <> endobj 22 0 obj The theory is based on the transaction costs which are incurred during the supplies. <> The impact of the use and applications of various IT types on the performance of the company is not clear, but all in all, the importance of IT in the performance of the company cannot be refuted. Knowledge-Based View (KBV) theory. <> Supply chain management: theory, practice and future challenges @article{Storey2006SupplyCM, title={Supply chain management: theory, practice and future challenges}, author={J. Storey and Caroline Emberson and J. Godsell and A. Harrison}, journal={International Journal of Operations & Production Management}, year={2006}, … /Contents 10 0 R>> Supply Chain Management: Practice, Theory, and Future Challenges Name Institution Abstract Purpose – To analytically assess current changes in the theory and practice of supply management and through this assessment identify possible barriers, and key trends. 8 0 obj The theory stipulates that the supply chain management should be oriented towards improving the output within the organization. <> Available to promise (ATP). This theory stipulates that the designing of the supply management process should be based on the resources which are available to the company. (Ketchen & Hult, 2006) Time-Based Competition Theory (TBC).This is a theory that ensures that the management of supplies is done in time. This theory ensures that the customer’s agreements are met. Warehousing: keeping inventory at low levels 4. 28 0 obj <> Amidst fierce competition in all industries, SCM has gradually been … Findings – The paper reveals that supply management is, at best, still emergent in terms of both theory and practice. Systems theory is based on the systems in which the institution’s supplies are handled. According to Chopra and Meindl (2001), SCM engages the management of flows between and among stages in a supply chain to minimize total cost . The theory is based and dependent on various strategic theories which are taken by the management to ensure that they make rightful decisions on the supply chain. This management theory focuses on the managers ability to invest in and promote human collaboration between employees throughout the global supply chain. This theory explains that there should be a quick response in dealing with all the manufacturing process. /Contents 12 0 R>> Theory of Constraints (TOC) .This is a theory that designs a budget line with the required institutional specifications. An authoritative, quantitative approach to supply chain management. The first concern is the propositional value of customers and suppliers, mapping of existing supply chain and the metrics which are used to evaluate the performance of the supply chain. Supply-chain management was then further defined as the integration of supply chain activities through improved supply-chain relationships to achieve a competitive advantage. �U���Pp��;B�P��?����r�y���_?�{-�t��?���/���su:�/�Y�#��Ȃ��B���4칉�na�Z��:j��%�{Ow���&�|C+i�Y��Nˆ�{[���W�߱w��q�y���q�A[^j�ź�˦#m��쥾5�����$��q����R���u�֏i��zH�Pm� �� :���c�4���Ӏσu���� |�O�=���_�ƫ��E�Q�f5y뜏b�?���s~�\�tQ�_��O �3�V����*����)�E���;��������{킫�G@_k}W쀛� 10 0 obj endobj 17 0 obj . 26 0 obj endstream & Xiaoming, L. (2010). Network Perspective (NP) theory. <> <> endstream endobj endstream This definition implies that … � ��� Procurement: avoiding duplicate procedures 2. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Sp�W� stream (Festus & Xiaoming, 2010). The application of game theory allocates logic to the strategies employed in the management of the system and thus helps in identifying any weaknesses that could be associated with particular section of the … (Festus & Xiaoming, 2010). 29 0 obj � ��� <> � �f� /Contents 24 0 R>> This theory states that before goods are ordered and subsequently supplied, there is a need to plan everything that is required with the specifications of each customer. This is a practice which designs an information system which measures the performance of procurement processes in the organization. � ��� x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Rp�W� Despite the popularity of SCM research and applications, considerable confusion remains as to its meaning. It is very much an extended Requirements Chain Management. endobj Transaction Cost Analysis (TCA) theory. 1 0 obj Utilizing this well-known framework of contingency theory in the areas of strategic management and organizational design, SCM is firmly positioned among management theories. <> endobj Revolutionizing supply chain management the theory of constraints way: a case study Kartik Modi Godrej & Boyce Mfg Co Ltd, Mumbai, India , Harshal Lowalekar Indian Institute of Management Indore, Indore, India Correspondence harshal@iimidr.ac.in Perhaps one of the most effective ways of doing so is to apply the theory of constraints (TOC) to supply chain management. This theory is formulated going by the information knowledge that is available. � ��� endobj Ketchen G & Hult, M. (2006). /Group <> Articles on Management Subjects for Knowledge Revision and Updating by Management Executives ---by Dr. Narayana Rao, Professor, NITIE---3 MILLION Page Views--- Global Top Blog for Management Theory---Management for Effectiveness, Efficiency and Excellence. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Tp�W� 21 0 obj endobj endobj This book presents the methodology and foundations of supply chain management and also demonstrates how recent developments build upon classic models. 7 0 obj This explains that all the programs are designed to create a good relationship with the public. Festus, O. Complementary theories to supply chain management. This is reflected in the lack of conceptual frameworks for the development of theory on supply chain management. <> 27 0 obj <>>>] <> Craig R. Carter, Lutz Kaufmann, David J. Ketchen, Expect the unexpected: toward a theory of the unintended consequences of sustainable supply chain management, International Journal of Operations & Production Management, 10.1108/IJOPM-05-2020-0326, ahead-of-print, ahead-of-print, (2020). <> stream The basic idea is that every process is limited by some kind of constraint (think of the saying, “A chain is only as strong as its weakest link”). endobj 9 0 obj endobj stream 20 0 obj x��\M�䶑�������E_�=��rH��R;|��@���˪�XԴzG�~_ ��b�%o(bW� �/_~�����QUK���>>����X}�鮭>��x�җU���s���]۴m�q'>W�z8��Ue�ktW��]��|�}�Xݩ���p�eT����?wGZ)�j]�kZM��kWm�`���N�[[=�b��^�Bm�|�ϫk�ݹ��?�����m���U��?��'�J��}f�����7�~���QΪ�}��}?��`���5>����c;�����������V���&�h�� /Length 5507 >> Materials Logistics Management theory (MLM). <> Information Sharing and Collaboration Practices In reverse Logistics, Supply Chain Management: an International Journal, Vol. stream stream � � � In the late 1990s, "supply-chain management" (SCM) rose to prominence, and operations managers began to use it in their titles with increasing regularity. /Contents 16 0 R>> endobj This theory explains the relationship between the principals and the agents. endstream The Theory of Constraints (TOC) is one of the simplest, most powerful supply chain concepts. 3 0 obj Supply Chain Management: An International Journal, Volume 12 Issue 4, 284-296. <> endstream Several theories have specifically addressed the issue of management information systems. This book explains supply chain management (SCM) using the strategy–structure–process–performance (SSPP) framework. It is the planning, execution, controlling costs of inventories, work in progress and the final products from consumption point to the original point. /Contents 14 0 R>> x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Tp�W� endobj /Contents 30 0 R>> Keywords: supply chain management, theory, practice, implementation Introduction Since its introduction by management consultants in the early 1980s, the SCM concept has risen to prominence in both academic and commercial circles. endstream <> x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Vp�W� Supply Chain Management : Practice, Theory, And Future Challenges Essay 999 Words | 4 Pages. <> <> endobj endstream The theory is based on the systems of the organization. DOI: 10.1108/01443570610672220 Corpus ID: 17758687. (Halldorsson et al., 2007). Quick Response Manufacturing (QRM). endobj In a world of soaring digitization, social media, financial transactions, and production and logistics processes constantly produce massive data. � �]� Time-Based Competition Theory (TBC) .This is a theory that ensures that the management of supplies is done in time. stream 2.1 Definition of a supply chain In this chapter we take a process view, which means we look at a supply chain as a sequence of (decision making and execution) processes and (material, information and money) flows that aim to meet final customer requirements The authors demonstrate that, “although definitions of SCM differ across authors […], they can be classified into three categories”: (1) SCM as a management philosophy (= supply chain orientation), which involves a systems approach to viewing the supply chain as a whole, a strategic orientation toward cooperative efforts, and a customer focus; (2) SCM as an implementation of a management … x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Up�W� There are several attempts made by researchers and practitioners to appropriately define SCM. 4 0 obj Fundamentals of Supply Chain Management 8 Introduction 1ntroduction I 1.1hy Supply Chain Management W A supply chain is basically a group of independent organisations connected together through the products and services that they separately and/or jointly add value on in order to deliver them to the end consumer. Performance Information Risk Management Systems (PIRMS). The theories explained show a close relationship. Fredrick Taylor, the founder of industrial engineering who wrote The Principles of Scientific Management in 1911, targeted the process improvement of manual loading in his work. 23 0 obj There is a myriad of concepts which have been conceptualized leading to framing of some of the applicable theories. endobj � ��� x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �Pp�W� <> Materials Requirement Planning (MRP). Finally, step 3 involves joint problem solving and warehouse schedule. 13 0 obj endstream endobj stream <> (Ketchen & Hult, 2006), The theory stipulates that the supply chain management should be oriented towards improving the output within the organization. endobj <> develop SCM theory. endobj The concept of supply chain has been considered from different points of view in different literature and there is a relative lack of theoretical work compared to empirical based studies. OPERATIONS AND SUPPLY CHAIN MANAGEMENT – COCA – COLA 5 4.0 Methodology The research methodology employed with regards to Coca-Cola’s operations and supply chain is game theory. Systems Theory: ST brings together various components of a complex supply chain (that is the human, capital, information, materials and financial resources etc.) Institutional theory (INT). /Contents 8 0 R>> These theories include: This is a practice which explains that the goods of the right quantity and specified quality are supplied in time without any surpluses. to form a subsystem which is then part of a larger system of supply chains or network. Halldorsson, A, Kotzab, H, Mikkola J., Skjoett-Larsen, T.(2007). /Contents 4 0 R>> Supply Chain Management includes managing supply and demand, sourcing raw materials and parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels, and delivery to the customer. <> stream x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Pp�W� endobj endstream stream Reverse logistics involves material flow from end users to suppliers. [9] 14 0 obj /Contents 20 0 R>> 12 0 obj /Contents 18 0 R>> <> This is a practice that ensures that all the risks which might be involved during the procurement and supplies process are taken into consideration. <>/Group <> endobj <> 19 0 obj (Ketchen & Hult, 2006). [9] Human collaboration is defined as the use of skills through harmonization of individuals, teams and organizations to achieve greater things not achievable by an individual person. Agency Theory (AT). endobj <> This is a theory which states that all the raw materials which are supplied must be of relevant quality. 5 0 obj <> endobj � ��� <> Strategic Choice Theory (SCT). The supply chain industry’s beginning of operations research as well as industrial engineering started with logistics. endobj 24 0 obj The authors focus on strategic, tactical, and operational aspects of supply chain management and cover a broad range of topics from forecasting, inventory management, and facility location to transportation, process flexibility, and … stream � �x� (Halldorsson et al., 2007). A supply chain is a system of information and resources that involves manufacturers/ producers, distributors/ middlemen, and the end customers, collaborating to convert raw materials to work in progress, and then to finished goods. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Rp�W� Total Quality Management (TQM). Systems Theory (ST). endstream �&�+#���GX. 6 0 obj � ��� stream Supply Chain Management (SCM) has been widely researched in numerous application domains during the last decade. Consumer Science: Anna Quindlen’s “Why Stuff is not Salvation”, Theories involved in Supply Chain Management, Gardena Flowers and Plants Trading Company Analysis, Consumer Behavior in Hamilton and Chernev Articles, International Business Machines Corporation Analysis, International Legal and Ethical Issues in Business. Quick Response Manufacturing (QRM). /Contents 22 0 R>> Strategic Supply Chain Management (Level 6, Unit L6-02) A major part of the book is devoted to the implications of new concepts such as Customer Relationship Management, Supplier Relationship Management, Vendor-managed Inventory, Efficient Consumer Response, and Collaborative Planning, Forecasting, and Replenishment. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �Tp�W� 25 0 obj � �T� endstream To maximize the supply chain benefit, supply chain partners should uncover weak links and prevent variations in supply chain capacity (e.g., production/distribution capacity and inventory) and supply chain performances. /Contents 28 0 R>> This is a theory that ensures that the process of supply is done with considerations of all the relevant procedures and requirements. Currently, there are three collaborative relationships which have been identified: type 1 involves building data using IT applications, standardizing information. Supply chain management plays a large role in the world we live in. Resource-Based View (RBV). /Contents 26 0 R>> This theory is based on the principles under which the institution is governed. endobj Supply Chain Management’s Beginnings. Despite a lot of focus on the forward logistics by supply chain management, the importance of reverse logistics cannot be ignored. endstream The study focuses on investigating, how supply chain management influences the performance of reverse logistics with specific examinations on how IT impacts it, the effects of IT on the reverse logistics performance and the collaboration and information sharing on reverse logistics. 15 Iss: 6 Pages.454-462. Employing analytical tools to extract insights and foresights from data improves the quality, speed, and reliability of solutions to highly intertwined issues faced in supply chain operations. 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