� �o� [9] Human collaboration is defined as the use of skills through harmonization of individuals, teams and organizations to achieve greater things not achievable by an individual person. <> Finally, step 3 involves joint problem solving and warehouse schedule. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �Pp�W� stream A supply chain is a system of information and resources that involves manufacturers/ producers, distributors/ middlemen, and the end customers, collaborating to convert raw materials to work in progress, and then to finished goods. There is a myriad of concepts which have been conceptualized leading to framing of some of the applicable theories. � ��� endobj Requirements Chain Management. /Contents 14 0 R>> 15 Iss: 6 Pages.454-462. To maximize the supply chain benefit, supply chain partners should uncover weak links and prevent variations in supply chain capacity (e.g., production/distribution capacity and inventory) and supply chain performances. endobj The theory is based and dependent on various strategic theories which are taken by the management to ensure that they make rightful decisions on the supply chain. /Contents 4 0 R>> <> stream Network Perspective (NP) theory. stream endobj Employing analytical tools to extract insights and foresights from data improves the quality, speed, and reliability of solutions to highly intertwined issues faced in supply chain operations. 10 0 obj 7 0 obj Supply Chain Management (SCM): Theory and Evolution, Supply Chain Management - Applications and Simulations, Mamun Habib, IntechOpen, DOI: 10.5772/24573. stream 9 0 obj endobj x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Vp�W� (Festus & Xiaoming, 2010). endstream endobj Fundamentals of Supply Chain Management 8 Introduction 1ntroduction I 1.1hy Supply Chain Management W A supply chain is basically a group of independent organisations connected together through the products and services that they separately and/or jointly add value on in order to deliver them to the end consumer. The concept of supply chain has been considered from different points of view in different literature and there is a relative lack of theoretical work compared to empirical based studies. <> Type 2 involves joint plannings and decision makings on new products, business plans, forecasting and sales promotions. This is a theory which states that all the raw materials which are supplied must be of relevant quality. endstream This type requires building trusts, setting joint business goals and designing of inter-connected processes. Halldorsson, A, Kotzab, H, Mikkola J., Skjoett-Larsen, T.(2007). This theory ensures that the customer’s agreements are met. <> The theory is based on the transaction costs which are incurred during the supplies. Transaction Cost Analysis (TCA) theory. The theories explained show a close relationship. <> Despite the popularity of SCM research and applications, considerable confusion remains as to its meaning. Transportation: consoli… This theory states that before goods are ordered and subsequently supplied, there is a need to plan everything that is required with the specifications of each customer. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Tp�W� (Festus & Xiaoming, 2010). 5 0 obj Supply-chain management was then further defined as the integration of supply chain activities through improved supply-chain relationships to achieve a competitive advantage. & Xiaoming, L. (2010). � ��� Supply Chain Management’s Beginnings. Agency Theory (AT). endobj In the late 1990s, "supply-chain management" (SCM) rose to prominence, and operations managers began to use it in their titles with increasing regularity. endstream 13 0 obj 16 0 obj endobj Supply chain management plays a large role in the world we live in. 19 0 obj Ketchen G & Hult, M. (2006). Reverse logistics involves material flow from end users to suppliers. The impact of the use and applications of various IT types on the performance of the company is not clear, but all in all, the importance of IT in the performance of the company cannot be refuted. endstream <> endobj endobj 25 0 obj stream endobj <> (Halldorsson et al., 2007). <> x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Qp�W� Procurement: avoiding duplicate procedures 2. 14 0 obj This theory stipulates that the designing of the supply management process should be based on the resources which are available to the company. <> <> � �]� (Halldorsson et al., 2007). Findings – The paper reveals that supply management is, at best, still emergent in terms of both theory and practice. /Contents 24 0 R>> This theory is based on the principles under which the institution is governed. Supply Chain Management : Practice, Theory, And Future Challenges Essay 999 Words | 4 Pages. /Contents 20 0 R>> <> /Contents 18 0 R>> 20 0 obj 30 0 obj endstream Quick Response Manufacturing (QRM). 4 0 obj 22 0 obj It is very much an extended Supply chain management: theory, practice and future challenges @article{Storey2006SupplyCM, title={Supply chain management: theory, practice and future challenges}, author={J. Storey and Caroline Emberson and J. Godsell and A. Harrison}, journal={International Journal of Operations & Production Management}, year={2006}, … /Contents 26 0 R>> � ��� Warehousing: keeping inventory at low levels 4. <> Materials Logistics Management theory (MLM). endobj endobj Several theories have specifically addressed the issue of management information systems. � ��� endobj The issue of the process of linking various stakeholders has also been of a big concern. 29 0 obj <> /Contents 22 0 R>> Due to the high asset value which is involved in reverse logistics, it is prudent that firms develop a system that can share information and relate it with the partners besides handling return operations. A substantial body of academic knowledge has been, and continues to be, developed in the broad SCM domain. 23 0 obj endstream <>/Group <> This book explains supply chain management (SCM) using the strategy–structure–process–performance (SSPP) framework. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Sp�W� Bridging organization theory and supply chain management: The case of best value supply chains. ?p��8�7���*Dڷn��:��Ѵm���b�F��Q�V�3�j�Z���1\�`��]ͮg��ddL����ّ_��& �t�ť%���WO�l�����1'�*F��O�u�ɵ��������Z8��Q�;����Z��?�Wx��5�j�4���`kIQ�J7�w�W� 9¨������A�i�6�N�U�}lc�X�����k����^.���;X�)�$��5i�`U�j��%̧�����+��X}��m�PQ~�I�7�R[�J��~,����z,DF+D�5p�.t�S�i���. %PDF-1.4 These theories include: This is a practice which explains that the goods of the right quantity and specified quality are supplied in time without any surpluses. The Theory of Constraints (TOC) is one of the simplest, most powerful supply chain concepts. (Van Der Vorst, 2004) Van Der Vorst defined supply chain management (SCM) as "the integrated planning, coordination, and control of business … Theory of Constraints (TOC) .This is a theory that designs a budget line with the required institutional specifications. stream Consumer Science: Anna Quindlen’s “Why Stuff is not Salvation”, Theories involved in Supply Chain Management, Gardena Flowers and Plants Trading Company Analysis, Consumer Behavior in Hamilton and Chernev Articles, International Business Machines Corporation Analysis, International Legal and Ethical Issues in Business. �&�+#���GX. (Ketchen & Hult, 2006). 15 0 obj Performance Information Procurement Systems (PIPPS). Relevant procedures and requirements ( 2 ) Pages 573-580: theory and supply chain management should based..., supply chain management: practice, theory, and continues to be, developed in the organization might involved. 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