need a response to 2 post week 1 International Logistics

International Logistics

Michael Vanhorn

3. How would you define Supply Chain?

A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product. A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user. The supply chain segment involved with getting the finished product from the manufacturer to the consumer is known as the distribution channel.

Reference

Lutkevich, B. (n.a). Supply Chain. Retrieved From. https://whatis.techtarget.com/definition/supply-chain

 

16. Is asset management in the supply chain critical? Why?

Yes, Asset management is a key area in the global supply chain and warehouse management. It is very much aligned to radio frequency identification (RFID). Overall,  it provides a range of benefits in inventory control, asset utilization, manufacturing work-in-process, loss prevention and security. Problems arising from asset management has plagued many industries conducting and keeping up with existing inventory, and has historically been a challenging, resource-intensive process. One must acknowledge that in the most advanced supply chain management, warehouse management systems, enterprise resource planning and related software solutions, the accuracy and value of the data from these packages is only as good as the information source input (Branch, 2008, p. 24).

Tania Figueroa

9. Define Lean-supply chain management.

Lean supply chain management is the strategic process of developing and managing a cost-effective and efficient supply chain that is competitive in the global marketplace and has a strong empathy with the end user.

Waste can take up a lot of time, cost, and inventory in companies. Lean supply chain management is designed for businesses who want to eliminate waste and other things that do not bring any value into the company. Companies may look into things such as their procurement, manufacturing, transportation, and warehouse in order to implement lean processes.

 

10.  List three areas that need to be addressed under Lean-supply chain management.

Three areas that need to be addressed under lean supply chain management are: international sourcing, accounting, and organization.

· International sourcing – time is precious in supply chain management. A lot of times with ordering internationally, the transit time may be from 20-40 days and there may also be port delays along the way.

· Accounting – accounting systems do not recognize time.

· Organization – supply chain management and lean are processes that cross organization boundaries therefore creating gaps.