After reading the material in this chapter, you should be able to: To define the essence of Supply Chain Management (SCM) and to discuss how does it relate to Advanced Planning, in which sense are the underlying planning concepts “advanced”? | Advances in Supply Chain Management Chapter 1: Advances in Supply Chain Management: An Overview (Cont ) 3 Lec 2 : Learning Objectives To define the essence of Supply Chain Management (SCM) and to discuss how does it relate to Advanced Planning. In which sense are the underlying planning concepts “advanced”? Summary of Last Lecture The lecture has proceeded from the very basic definition and origin of supply chain management to the developments in the field over the period of time. Further how advanced trends in the field has added value and made the supply chain more effective. Advances in SCM focus on creating value chain network. The focus of which is to create value for partners on each level of supply chain. 4 5 LAYOUT Definitions Important Elements of supply SCM Building Blocks Customer Service Integration Coordination Relating SCM to Strategy Foundations Important elements of SCM Purchasing Trends: Long term relationships: The term "relationships" covers a lot of ground in supply chain management. There are strategic relationships, tactical relationships, transactional relationships, internal relationships, and possibly more. There are also relationships among members of the supply chain community. It is important to realize that relationships among the supply chain estates must be maintained for balance. Too much power and influence of any one partner and you risk undermining the effectiveness of your supply chain. At the level where most of us work every day, there are vital relationships to build and nurture: between the company and its key suppliers; between the company and its customers; and among the company and academics, consultants, software providers and other practitioners. This relationship business keeps getting more and more complicated. 6 Strategic partnerships- creating and developing strong, positive relationships is a key to supply chain success. Let's start with the working relationships between suppliers and customers, which some like to | Advances in Supply Chain Management Chapter 1: Advances in Supply Chain Management: An Overview (Cont ) 3 Lec 2 : Learning Objectives To define the essence of Supply Chain Management (SCM) and to discuss how does it relate to Advanced Planning. In which sense are the underlying planning concepts “advanced”? Summary of Last Lecture The lecture has proceeded from the very basic definition and origin of supply chain management to the developments in the field over the period of time. Further how advanced trends in the field has added value and made the supply chain more effective. Advances in SCM focus on creating value chain network. The focus of which is to create value for partners on each level of supply chain. 4 5 LAYOUT Definitions Important Elements of supply SCM Building Blocks Customer Service Integration Coordination Relating SCM to Strategy Foundations Important elements of SCM Purchasing Trends: Long term relationships: The term "relationships" covers a lot of ground in .
