1st Assignment
Q1 Answer
Both videos talk about the challenges of supply and value chains and solutions that will foster future success. There are various challenges addressed in both videos that influence supply chains negatively. For instance, government intervention is one of the key challenge facing the chains. Government regulations keep on changing every time thus pressurizing the manufacturers and other stakeholders in the chain. For instance, the government is ever changing regulations environmental pollution calling for the stakeholders to meet the standards. Meeting such standards is a great problem to the supply chain stakeholders. Other key challenges affecting the chain as provided in the video include economic and technology changes. The videos also talk about the need for supply chain stakeholders to use the available information in the market and implement it in the supply chain to foster success in the future. The stakeholders need to take the initiative to address to build confidence and use the available supply chain information in enhancing success. Besides, the video stresses on the importance of the supply chain stakeholders to consider collaborating to promote efficiency in the chain. Each stakeholder runs a chain thus sharing any information which is vital among themselves will promote future success in the chain.
Q2 Answer
I have learned that information is a key tool in enhancing efficiency in supply and value chains. Business environment keep on changing triggering many problems to the supply chain. As a result, access to latest information and acting accordingly with regard to the information remains vital for any business that needs to succeed. Although there are many changes in economy, political and technological environment gathering the information about the same is vital for the supply chain success (Poirier, 2003).
Besides, I also learned that collaboration among the supply chain partners. Each partner in the supply chain plays a significant role in the supply chain which cannot be assumed. Thus, it is vital for every stakeholder to participate in decision making process. There is need to share information among all the stakeholders regarding the changes in supply chain and ways in which they can enhance efficiency. In so doing, it will be easy to promote success in supply chain (Kim, 2005).
Finally, I learned that linking both the available information and collaborating with other stakeholders in the chain would promote the success in the supply chain management. This is to mean that businesses require to gather the information, share and implement it immediately.
I would advise my CEO to consider gathering information and collaborating with other supply chain so as to foster efficiency in the supply chain of the company. Information is power in every sector of the economy and gives direction on how businesses can carry out their business operations. The CEO need to have the up to date information concerning the operation of the supply chain. For instance, technology is ever changing requiring CEO to focus on information to key the ball rolling. Besides, the CEO needs to consider collaborating with other supply chains such as suppliers, and customer’s chain to ensure that they move in the same direction.
Q4 Answer
There are a number of trends I have observed on the supply and value chains. For instance, most of the supply chains have gone digital implying that businesses are conduct their supplies through online services (Robinson, 2016). An outstanding example is the ordering of raw materials from suppliers and delivering products to the customers. Besides, changing government regulations is another trend which is evolving affecting the operation of the supply chain. The government requires the supply chains to comply with environmental pollution standards all the time among many others.
Q5 Answer
There are various challenges facing supply and value chains I have observed. Firstly, technology advancement is one issue that possess much challenge to businesses. Many businesses have been unable to cope with new technology that require them to innovate in new products that match the needs of the customer needs.
Besides, failure to take advantage of the changing up to date information available from the suppliers and the market. The information emanating from this quarters act as guide on how to respond on changes in the supply chain. Taking the challenge and making the information work is what the stakeholders in the supply chain management are fearing. As a result, this remains as one of the critical issues that is affecting the supply chain negatively (Meca & Timmer, 2008).
Furthermore, there is mounting pressure on manufacturers to provide safe and quality products to their customers. All through pressure is mounting on the manufacturers forcing them to offer safe and quality products. As a result, the reputation of manufacturers who are unable to respond are tarnished.
References
Kim, B. (2005). Supply chain management. Singapore: John Wiley & Sons (Asia).
Meca, A., & Timmer, J. (2008). Supply Chain Collaboration. Supply Chain. Longhorn: Sydney.
Robinson, A. (2016, January 4). 2016 Supply Chain Trends: 7 of 12 Trends that Will Drive Supply Chain Management in 2016. Cerasis.com. Retrieved from http://cerasis.com/2016/01/04/2016-supply-chain-trends/
Poirier, C. C. (2003). The supply chain manager's problem-solver: Maximizing the value of collaboration and technology. Boca Raton, FL: St. Lucie Press.
