Thematic Analysis Of Contemporary Supply Chain

Balancing demand and supply

Discuss about the Thematic Analysis of Contemporary Supply Chain.

The purpose of the essay is to present the contemporary supply chain concept that has been determined and the perspectives are exposed by examining the numerous bodies of the literature. The research that has been conducted focuses on the analysis of the key concepts of the logistics and supply chain management in the public and private sector to ensure the efficient and effective management of an organization. The management of supply chain management is done by the companies to manage the inventory. The major focus of the paper is on Inventory management of Supply chain management for the companies.

The supply chain management is essential for the businesses not matter it is private or public companies. The objective of the supply chain management is to reduce or eliminate redundancies and reduce cycle time and inventory so as to offer the effective customer services at the minimum prices. The key functions that are performed by the effective supply chain management include demand management, inventory management, transportation, warehousing, order processing and the information management. In the competitive world, the motive of the public and private companies is to manage the inventory as this is the way to optimize the investment by maintaining adequate and the satisfactory levels of the material capable of fulfilling the needs of the customers. There are different concepts that are related to the inventory management in SCM such as: –

Organisations (public and private) are willing to reduce the inventory levels due to the almost linear relationship of the inventory with the cost. The demand for the customers is predicted accurately then there will be no need for the inventory management as the goods will move seamlessly from the warehouse to the end –users. The inventory management is essential for the public companies but also for the private companies.

In the real world, the estimation or the prediction of the demand is not possible due to which the public and private companies need to manage the inventory in the business. The inventory is required to be maintained to satiate any surges in demand as the cost of the unsatisfied customers is high and is immeasurable in many cases.

The rise in the overstock of the inventory in private sector also related to the increase in the working capital requirements, insurance costs and the blocked resources. Therefore, the companies make use of inventory planning as this is the only way through which they can analyze the need of the actual amount of inventory for fulfilling the need of the customers.

Thematic Analysis of (Christopher and Holweg, 2011)

The companies need to make forecast the inventory management because this is the only way through which they can ensure how they can reduce or eliminate the additional cost that is associated with the inventory. The forecast of the inventory can be done with the help of the sales of the company for the previous years and according to the season trends.

The management of the inventory plays a vital role in balancing the demand and supply of the product in the market by the company. The management of the forward and reverse flows in the supply chain provide the assistance to the public and private companies to form the deal with the upstream supplier exchanges and the downstream purchaser demands. The companies try to strike a balance between achieving the demands of the customers which sometimes become difficult for the company to predict with accuracy and maintaining the flow of the material goods. The public and private sector organizations make use of the inventory management to bring the improvement in the management and to save the resources that are utilized by them. This concept can be applied by the company with the help of the POS.

Point-of-sale is generally applied by many private and public companies. Though, this tool is generally applied by the industry that falls under the retail sector. The use of the Point-of-sale data is used by the organization for the perpetual inventory management as the company scans the messages which help them in analyzing the inventory that has been sold. The information is not only tracked but also shared by the retailers to the vendor who is dealing with the supply of product. The collaboration concept in the supply chain is also used by the companies so that they can determine the need for reordering to restock the exhausted inventory or not. This is the effective way through which the companies of public and private sector endure that they are effectively managing the inventory.

The overall analysis reflects the management of the inventory is linked with the supply chain management. The companies who need the additional stock to store in the warehouse need to follow supply chain for the same. Though, it is essential for the companies first to manage the inventory and analyze the additional need for the inventory.

In the end, it can be concluded that the supply chain management is essential for both public and private companies. The supply chain management provides the effective way to the companies to manage the inventory. The companies get the numerous benefits which include inventory balance, inventory turnover, accurate planning, customer loyalty, inventory orders and many others. This is the fact the inventory management is done with the effective planning for the inventory which is the only way through which they can save the cost. This amount can be used by the companies in the management of the other activities by the companies. Along with this, a point of sale is one of the ways through which they can manage the balance between the supply and demand which directly support the management of the inventory.

Thematic Analysis of (Christopher and Holweg, 2011)

1. Thematic Analysis of (Carter and Liane Easton, 2011)

1. Thematic Analysis of (Stock, Boyer and Harmon, 2010)

1. Thematic Analysis of (Flynn, Huo and Zhao, 2010)

1. Thematic Analysis of (Pettit, Fiksel and Croxton, 2010)

1. Thematic Analysis of (Tokar, 2010)

1. Thematic Analysis of (Clifford, et al 2010)

1. Thematic Analysis of (Misra, Khan and Singh, 2010)

1. Thematic Analysis of (Hai, Hao and Ping, 2011)

1. Thematic Analysis of (Clifford, et al 2010)

1. Thematic Analysis of (Schwartz and Rivera, 2010)

1. Thematic Analysis of (Darwish and Odah, 2010)

1. Thematic Analysis of (Mitra, 2012)

1. Thematic Analysis of (Rexhausen, Pibernik, and Kaiser, 2012)

1. Thematic Analysis of (Schmitt, Snyder and Shen, 2010)

References

Carter, C.R. and Liane Easton, P. (2011) Sustainable supply chain management: evolution and future directions. International journal of physical distribution & logistics management, 41(1), pp.46-62.

Christopher, M. and Holweg, M. (2011) “Supply Chain 2.0”: managing supply chains in the era of turbulence. International Journal of Physical Distribution & Logistics Management, 41(1), pp.63-82.

Clifford Defee, C., Williams, B., Randall, W.S. and Thomas, R. (2010) An inventory of theory in logistics and SCM research. The International Journal of Logistics Management, 21(3), pp.404-489.

Clifford Defee, C., Williams, B., Randall, W.S. and Thomas, R. (2010) An inventory of theory in logistics and SCM research. The International Journal of Logistics Management, 21(3), pp.404-489.

Darwish, M.A. and Odah, O.M. (2010) Vendor-managed inventory model for single-vendor multi-retailer supply chains. European Journal of Operational Research, 204(3), pp.473-484.

Flynn, B.B., Huo, B. and Zhao, X. (2010) The impact of supply chain integration on performance: A contingency and configuration approach. Journal of operations management, 28(1), pp.58-71.

Hai, D.O.N.G., Hao, Z.H.E.N.G. and Ping, L.Y. (2011) Model predictive control for inventory management in supply chain planning. Procedia Engineering, 15, pp.1154-1159.

Misra, V., Khan, M.I. and Singh, U.K. (2010) Supply chain management systems: architecture, design and vision. Journal of Strategic Innovation and Sustainability, 6(4), p.102.

Mitra, S. (2012) Inventory management in a two-echelon closed-loop supply chain with correlated demands and returns. Computers & Industrial Engineering, 62(4), pp.870-879.

Pettit, T.J., Fiksel, J. and Croxton, K.L. (2010) Ensuring supply chain resilience: development of a conceptual framework. Journal of business logistics, 31(1), pp.1-21.

Rexhausen, D., Pibernik, R. and Kaiser, G. (2012) Customer-facing supply chain practices—The impact of demand and distribution management on supply chain success. Journal of Operations Management, 30(4), pp.269-281.

Schmitt, A.J., Snyder, L.V. and Shen, Z.J.M. (2010) Inventory systems with stochastic demand and supply: Properties and approximations. European Journal of Operational Research, 206(2), pp.313-328.

Schwartz, J.D. and Rivera, D.E. (2010) A process control approach to tactical inventory management in production-inventory systems. International Journal of Production Economics, 125(1), pp.111-124.

Stock, J.R., Boyer, S.L. and Harmon, T. (2010) Research opportunities in supply chain management. Journal of the Academy of Marketing Science, 38(1), pp.32-41.

Tokar, T. (2010) Behavioural research in logistics and supply chain management. The International Journal of Logistics Management, 21(1), pp.89-103.

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