SUPPLY CHAIN MANAGEMENT

SUPPLY CHAIN MANAGEMENT: GENERAL REVIEW

Supply-chain management plays a central role in the management of a company's value-chain. Essential to the effectiveness of a company's supply-chain management are the concepts and procedures associated with cycle-time reduction and just-in-time resource management (Sharland, Eltantawy, & Giunipero, 2003). This research presents a general review of supply-chain management that includes (a) its importance to a firm's management of its value-chain and (b) the contributions of cycle-time reduction and just-in-time resource management to effective supply-chain management.

Reviewing Supply-Chain Management, Its Importance in the Management of a Company's Value-Chain, and the

Contributions of Cycle-Time Reduction and

Just-in-Time Resource Management to Effective Supply-Chain Management

Waste, considered in the context of managing production operations, refers to any activity that detracts from the creation of value. In the current environment of global business operations, competitive advantages derive in large part from the integration and coordination of the various activities of the value chain. In such an environment, it is important to reduce total costs as well as design, production, and distribution times (Nichols, 2003).

The global environment in which business functions today requires achievement of high standards of performance in quality, timeliness, total costs, and customer service. To reach these levels of p

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the company. Failure to manage supplier performance effectively can become a huge liability for the company (Esper & Williams, 2003). There, are five broadly defined types of decisions that are identified as having an impact on the character and management of the supplier base. These five decision types are as follows: (a) source selection decisions; (b) contracting decisions; (c) supplier performance and reward decisions; (d) supplier development decisions; and (e) supplier management decisions (Chen & Yang, 2003). Supply-chain management involves assessing suppliers and activities in a company's supply-chain and deciding where and how to achieve a specific competitive advantage for each product group. Supply-chain management begins with a determination of what the company needs and when those needs have to be met. Thus, the manager must collect data and information about existing suppliers and products, new suppliers and products, economic factors, and internal decisions within the company indicating what outcomes management actually expects from the materials and equipment purchased for the production operation (Carter & Ellram, 2003). Effective supply-chain management for a company may also include the implementation of

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