HAMDARD INSTITUTE OF MANAGEMENT SCIENCES

Strategic Supply Chain Management

Report Summary
Concluded By :Syed Nayyar Anwar Course Instructor : Sir Ather Abdullah

The role and relevance of refocused inventory: Supply chain management solutions, Robert Frankel

Strategic Supply Chain Management

The role and relevance of refocused inventory: Supply chain management solutions Robert Frankel

Study Findings: Shortage of Inventory = the right product is not at the right place at the right time to meet demand.

Inventory Statistics: Anderson Consulting(1996) found that , on average, 8.2% of shoppers fail to find the products of their search in stock. Lee(2002) noted that, stock-out represent 6.5% of all retail sales and that, after adjusting for the sales of alternative/substitute products, retailers suffer net lost sales of 3.1%. To compete so requires considering a combination of back to inventory basics, fresh ideas, and being open-minded to new solutions.

The CSMP (Council of Supply Chain Management Professionals) defines Supply Chain Management as that which: encompasses the planning and management of all activities involved in sourcing and procurement conversion, and all logistics management activities (which) includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. Three key components of Supply Chain In order to have a definite solution for supply chain, one must appreciate and understand three key components of the supply chain: 1) the inbound process (the supplier) and related material flows, cost reduction, and supply reliability.
2

Strategic Supply Chain Management

Includes; material flow, cost reduction and supply reliability. 2) in-house and/or contract production and related manufacturing-marketing challenges, the role of information sharing, and strategies of lean and/or agile production. Includes: Manufacturing-marketing challenges, role of information sharing and Strategy Lean & agile. 3) the outbound process(the customers) and related order fulfillment challenges, adaptation to the demanding consumer, and trade-offs to manage consumer demand. Includes: Order Fulfillment , adapting to the demanding customer and tradeoffs to manage consumer demands.

Five Factors critical for successful Supply Chain collaboration to manage inventory.

1) 2) 3) 4) 5)

willingness to innovate and change understating the others business common goals and objectives appropriate measures and incentives information sharing.

Conclusion:
Each of the three components must be considered with respect to the five factors of successful supply chain collaboration.