What are supply chain tools?

Here are 13 different types of supply chain management tools that make these SCM software packages valuable to companies:

• Shipping Status Tools: Alerts and Updates.
• Order Processing Tools.
• Lean Inventory Tools.
• Warehouse Management.
• Specialized Freight Handling.
• Bid and Spend Tools.
• Supplier Management.
• Demand Forecasting.

What are examples of service industries?

Service industries include everything else: banking, communications, wholesale and retail trade, all professional services such as engineering, computer software development, and medicine, nonprofit economic activity, all consumer services, and all government services, including defense and administration of justice.

What are the three classic types of negotiation strategies?

[Solved] The three classic types of negotiation strategies are vendor evaluation, vendor development, and vendor selection Theory X, Theory Y, and Th… | Course Hero. You can ask ! 78.

What are the four characteristics of service supply chain management?

The characteristics of a good supply chain are visibility, optimization, having the lowest cost possible, timeliness, and consistency.

What is bullwhip effect example?

The bullwhip effect often occurs when retailers become highly reactive to demand, and in turn, amplify expectations around it, which causes a domino effect along the supply chain. Suppose, for example, a retailer typically keeps 100 six-packs of one soda brand in stock.

How can I improve my bullwhip effect?

Some proven strategies are:

1. Collaborate with customers and suppliers. Another strategy to improve supply chain effectivity is through better collaboration with customers and suppliers.
2. Improve forecast accuracy.
3. Enable fast decisions with visibility and insight.
4. Adopt a demand driven supply chain management approach.

How you can achieve coordination in supply chain of your business?

Supply chain coordination is an effective approach to improve the SC performance. There are a number of mechanisms by which coordination can be achieved (e.g. coordination by sharing resources, risks, rewards etc., by collaborative planning, by sharing inventory data and sharing of sales data etc.)

What is the chain of service?

Service chain (or service chaining as it is often used) is a term that has been used interchangeably when referring to a sequence of actions that are applied to a data stream as it passes through an ingress or egress point in a physical or virtual network device.

What is supply chain in service industry?

A supply chain is an entire system of producing and delivering a product or service, from the very beginning stage of sourcing the raw materials to the final delivery of the product or service to end-users.

What three logistics related costs are relevant?

overall logistics costs into three key components: transportation costs, inventory carrying costs, and administration costs. Total transportation costs include costs for both primary and secondary transportation. Primary transportation is the movement of finished goods from plants and vendors to warehouses.

What are the 4 stages of supplier selection?

Four critical steps to improve supplier selection

• Step 1: Identify suppliers.
• Step 2: Determine supply performance.
• Step 3: Analyze financial factors.
• Step 4: Create a contract.

What are the four types of supply chain strategy?

Four Supply Chain Strategies To Drive Digital Transformation

• Customer-centricity: Plan and deliver for the segment of one.
• Predictive business: Design, make, and maintain the product of one.
• Smart automation: Manufacture the lot size of one.
• Total visibility: Analyze and manage the supply chain of one.

What causes the bullwhip effect?

The bullwhip effect is caused by demand forecast updating, order batching, price fluctuation, and rationing and gaming. Price fluctuations due to inflationary factors, quantity discounts, or sales tend to encourage customers to buy larger quantities than they require. …

What happens during a bullwhip effect?

The bullwhip effect (also known as the “whiplash” or the “whipsaw” effect) in supply chain management refers to the phenomenon of increasing fluctuations in inventory in response to shifts in customer demand as one moves further up the supply chain.

What type of negotiation strategy requires the supplier?

The market-based price negotiation strategy requires that the supplier open its books to the purchaser.

What are the strategies of supply chain management?

Companies with successful SCM programs employ eight basic best practices:

1. Start with strategy, but be practical.
2. Manage the entire supply chain with a focus on the customer.
3. Get on the CEO’s agenda.
4. Control trade-offs between cost and service.
5. Ensure that key stakeholders communicate.
6. Be smart about customization.

Why is increased coordination needed to manage supply chains?

Why is increased coordination needed to manage supply chains? Increased coordination help to reduce uncertainty or total replenishment lead time and the total cost of supplying the market. Increased organization within the supply chain would mean that companies are working as a team, and distribution…

What is bullwhip effect and how does it relates to lack of coordination in a supply chain?

The bullwhip effect refers to the fluctuation in orders along the length of the supply chain as orders move from retailers to wholesalers to manufacturers to suppliers. The bullwhip effect relates directly to the lack of coordination (demand information flows) within the supply chain.

Which among the following would increase due to the lack of coordination in supply chain?

The effect Lack of Coordination on Performance • Manufacturing cost: lack of coordination increases manufacturing cost. Inventory cost: the lack of coordination increases inventory cost. Replenishment lead time: Lack of coordination increases the Replenishment lead time.

What are the six supplier strategies?

Six Simple Strategies Suppliers Can Use To Do More For Their Customers

• No. 1 – Focus First on Your People.
• No. 2 – Listen to Your Customers.
• No. 3 – Focus on Lead-time Reduction.
• No. 4 – Understand Your Vision and Have a Plan.
• No. 5 – Share Expertise with Customers.
• No. 6 – Market to OEM Customers How You Manage Risk.

What is the bullwhip effect in supply chain?

The bullwhip effect (also known as the Forrester effect) is defined as the demand distortion that travels upstream in the supply chain from the retailer through to the wholesaler and manufacturer due to the variance of orders which may be larger than that of sales.