Class notes
Supply Chain Management Ch 1
- Course
- LSM 201
- Institution
- Alabama State University
This set of notes touch on the topics of globalization, demand forecasting, and organizational consolidation powershifts.
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What is Supply Chain Management?• Supply chain management is the coordination of a business's entire production flow from
sourcing raw materials to delivering finished goods.
• This includes global trade activities such as managing global suppliers and multinational
production processes.
Components of Supply Chain Management:
• Sourcing
• Design
• Production warehousing
• Shipping
• Distribution
• Inventory planning
• Maintenance of production lines
• Transportation and fleet management
• Order management
• Returns
Supply Chain Management Evolution:
• Globalization is the flow of financial products, goods, jobs, technology, and information
across nations.
- Globalization has led to competition.
• Technology can be used to forecast future demand.
• Organizational Consolidation and Power Shifts refers to the practice of combining two or
more companies into one.
• Empowered Customer makes customers feel empowered by giving them the tools,
information, and opportunities for them to make an informed decision and to make them feel
in control of their interactions with a company.
• Government Policy and Regulation: the government can put restrictions on what can and
cannot be shipped. They can limit harmful things from being sold to consumers.
- Monopolies don’t have much competition, so without regulations in place they produce
low (horrible) quality items.
- They then sell these items at a higher price than they are worth.
- Because of this, the government is supposed to put regulations in place to regulate
production.
• There are three deregulated institutions:
- Transportation
- Communications
- Financial Institutions
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