Abstract
The global market is becoming highly efficient, and competition does not occur between two businesses only but among complete supply chains. In globalized business environment, it has become important for the companies to manage their supply chain efficiently, to improve customer service and financial performance. This reflection paper discusses different concepts of advanced logistic management, supply chain management and their positive influence on business organizations. Logistic management is the process that ensures smooth and efficient flow of goods from suppliers to manufacturers and to the end consumers. All large organizations operate in different international markets and each market has its own demands and requirements, all companies are required to serve cultural needs of consumers. Innovative and flexible supply chain helps companies to fulfill these diversified cultural needs. The paper describes importance of efficient supply chains and their role in improving financial performance, delivering customer satisfaction and in gaining competitive advantage. This reflection paper discusses the impact of advance logistic management course on individual’s learning and knowledge.
Reflection Paper
This course on advance logistic management helps in understanding different concepts of supply chain management. The course informs about the different components of logistic management and ways to make supply chain efficient. Logistic management is the process that ensures smooth and efficient flow of goods or products from suppliers to manufacturers and to the end consumers. Logistic process consists of several stages such as planning, implementation and control of flow of products and their storage, transfer of information between different supply chain partners and stakeholders, as well as, identification and fulfilment of customer’s requirement. The course helps me in understanding all these components along with major responsibilities, associated logistic managers.
Information on different supply chain maturity models such as lean, S&OP, Process, new product development and procurement. These models help companies in reducing cost, improving service components and in generating more revenue. Different levels of supply chain maturity also help company in improving its processes. A mature supply chain is adaptable, flexible and have real time data analysis and monitoring in place. Different levels of maturity allow company to go one step further in improving its processes and systems.
In globalized business environment, it has become important for the companies to manage their supply chain efficiently, not only to improve customer service but also to improve their financial performance. For example, manual processes decrease organizational productivity and also adversely impact on-time and accurate supply of goods. Integration of process, collaboration between partners and smooth transfer of information helps companies in improving productivity and sales. Product lead time and ability to fulfil market demand, ability to deliver customer services and sales all positively impact revenue of the company.
Through the course, I learnt innovative supply chains and influence of effective supply chain on innovation. Various large companies such as Wal-Mart, McDonald and Coca-Cola are adopting innovative technologies and processes to improve their supply chain. Innovative supply chains allow companies to serve diversified needs of consumers. All large organizations operate in different international markets and each market has its own demands and requirements. For example, an Asian consumer may not like the same taste of a burger as American consumer. Similarly, core product categories and brands of Wal-Mart retail stores may vary from one geographical location to another. In competitive business market, all companies are required to serve cultural needs of consumers. Innovative and flexible supply chain helps companies to change their offerings location-wise (Hugos, 2011).
In logistic management, it is important to plan and implement each process very carefully and efficiently. Company should select suppliers who have ability to supply raw materials just-in-time. Company should chose effective transport methods and routes, and very competent method of goods delivery. Selection of software and technical resources should be done proficiently. From the course I learnt that even a small silly decision can lead to multiple problems. A small delay in supply of raw material can result into delay in production and supply of products in market. Damage of products, because of careless transportation, can also tarnish the image of the company and relationship with supply chain intermediaries.
Companies are required to wisely integrate or collaborate supply chain activities without hampering their core strengths and loosing focus on customer satisfaction. Similarly, outsourcing of supply chain processes should be done very strategically. Strategic outsourcing allows companies to outsource processes in which company is not good. While outsourcing, company should ensure that external party is capable to perform the work efficiently and will not violate agreement, executed between both parties. Outsourcing of certain processes also help company to save the cost because external agency or party perform same tasks at lower cost (Sahay, 2003, p. 76-77).
After completion of course I feel that my knowledge on different aspects of logistic management has improved significantly. The course also helped me in understanding how different theories and concept of supply chain management can be implemented in real business world. The course provided me deep insight on how even a minor error in logistic management can impact the revenue of the company, and how efficient supply chain provide competitive advantage to the company. Overall, efficient logistic management and responsive supply chain is a key of organizational success.
References
Horvath, L. (2001). Collaboration: the key to value creation in supply chain management. Supply Chain Management: An International Journal, 6(5), 205-207.
Hugos, M. H. (2011). Essentials of Supply Chain Management. Hoboken, New Jersey: John Wiley & Sons.
Sahay, B. (2003). Supply chain collaboration: the key to value creation. Supply chain collaboration: the key to value creation, 52(2), 76-83.
