Week 1 Discussion Final
After reading the notes and the chapter assignments, what are your thoughts about the purchasing function and the evolution of supply management in the 21st Century?
The purchase function began as a process for the organization to reach its mission. On the contrary, the purchase function evolved to include supply management. As time progressed purchasing provided the essential foundation of supply management. Overtime purchasing and supply management evolved to include managing, stocking, and budgeting for those goods and services.
Based on your experience or readings, discuss how Supply Management and in particular Supply Chain Management benefits organizations in the public and private sectors.
Supply Chain Management benefits organizations in the pubic and private sectors by increasing sales and lowering the total cost. A majority of a firm’s budget will be spent on making purchases of supplies and materials for the company. Organizations that successfully manage purchasing and supply chain management can significantly increase their sales. Furthermore, Companies can benefit by decreasing the total cost of ownership costs. Strategically managing the supply chain management allows for sales to increase while costs decrease.
What are the salient factors that contribute to the successful implementation of a supply chain management initiative?
One salient factor is based on firms having a clear vision and goal. An organization must have an honest assessment of where they are now in relation to where they would like to be. Also, the Company must develop a strategic action plan to meet their goals. Another factor is adopting a successful model from another Company.
Are supply chain management and the establishment of strategic alliance agreements with select suppliers more conducive to private sector organizations? What are your perspectives?
Supply chain management and the establishment of strategic alliance agreements with select suppliers are more conducive to
The purchase function began as a process for the organization to reach its mission. On the contrary, the purchase function evolved to include supply management. As time progressed purchasing provided the essential foundation of supply management. Overtime purchasing and supply management evolved to include managing, stocking, and budgeting for those goods and services.
Based on your experience or readings, discuss how Supply Management and in particular Supply Chain Management benefits organizations in the public and private sectors.
Supply Chain Management benefits organizations in the pubic and private sectors by increasing sales and lowering the total cost. A majority of a firm’s budget will be spent on making purchases of supplies and materials for the company. Organizations that successfully manage purchasing and supply chain management can significantly increase their sales. Furthermore, Companies can benefit by decreasing the total cost of ownership costs. Strategically managing the supply chain management allows for sales to increase while costs decrease.
What are the salient factors that contribute to the successful implementation of a supply chain management initiative?
One salient factor is based on firms having a clear vision and goal. An organization must have an honest assessment of where they are now in relation to where they would like to be. Also, the Company must develop a strategic action plan to meet their goals. Another factor is adopting a successful model from another Company.
Are supply chain management and the establishment of strategic alliance agreements with select suppliers more conducive to private sector organizations? What are your perspectives?
Supply chain management and the establishment of strategic alliance agreements with select suppliers are more conducive to