what are the supply chain principles?
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["Adapt Supply Chain to Customer's Needs. ... ", 'Customize Logistics Network. ... ', 'Align Demand Planning Across Supply Chain. ... ', 'Differentiate Products Close to Customers. ... ', 'Outsources Strategically. ... ', 'Develop IT that Support Multi-Level Decision Making. ... ', 'Adapt Both Services and Financial Metrics.']
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Key Takeaways The entities in the supply chain include producers, vendors, warehouses, transportation companies, distribution centers, and retailers. The functions in a supply chain include product development, marketing, operations, distribution, finance, and customer service.
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['Standardize the process and draw it out. ... ', 'Use resources effectively. ... ', 'Keep material moving. ... ', 'Keep the process simple. ... ', 'Hedge against variability. ... ', "Don't fall in love with technology. ... ", 'Manage the supply chain. ... ', 'Improve quality.']
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Supply chain network structure (Adapted from: Lambert et al, 1998) In its simplest form, a supply chain is composed of a company and the suppliers and customers of that company. This is the basic group of participants that creates a simple supply chain.
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Transparency, integrity, economy, openness, fairness, competition and accountability are some of the fundamental principles of public procurement. They are briefly discussed below.
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The main objectives of Supply chain management are to improve the overall organization performance and customer satisfaction by improving product or service delivery to consumer. Supply Chain Management involves Movement and Storage of all materials including Raw Material, WIP (Work in Progress) and Finished Goods.
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Seven basic principles are employed in the development of HACCP plans that meet the stated goal. These principles include hazard analysis, CCP identification, establishing critical limits, monitoring procedures, corrective actions, verification procedures, and record-keeping and documentation.
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Seven Principles of SCM Principle 2: Customize the logistics network to the service requirements and profitability of customer segments. Principle 3: Listen to market signals and align demand planning accordingly across the supply chain, ensuring consistent forecasts and optimal resource allocation.
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The elements of a supply chain include all the functions that start with receiving an order to meeting the customer's request. These functions include product development, marketing, operations, distribution networks, finance, and customer service.
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There are four major elements of supply chain management: integration, operations, purchasing and distribution. Each relies on the others to provide a seamless path from plan to completion as affordably as possible.
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['The Revenue Principle. Image via Flickr by LendingMemo. ... ', 'The Expense Principle. ... ', 'The Matching Principle. ... ', 'The Cost Principle. ... ', 'The Objectivity Principle.']
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Purpose and Goals. ... Their key goals for supply chain management should be to achieve efficient fulfillment of demand, drive outstanding customer value, enhance organizational responsiveness, build network resiliency, and facilitate financial success.
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['Professionalism. All participants of the supply chain process should exhibit a high standard of professionalism. ... ', 'Personal Integrity. ... ', 'Transparency and accountability. ... ', 'Compliance and continuous improvement.']
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A supply chain involves four general activities, including purchasing, production, inventory management, and transportation and distribution. Another important aspect of supply chain management is controlling the flow of information to make effective and efficient decisions.
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['FACILITIES. Where the products of the supply chain are either stored, assembled or fabricated. ... ', 'INVENTORY. All the raw materials, WIP(Work-in-Process) and the FG(Finished Goods) come under inventory. ... ', 'TRANSPORTATION. ... ', 'INFORMATION.']
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A supply chain consists of the series of activities and organisations that materials move through on their journey from initial suppliers to final customers.
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Their key goals for supply chain management should be to achieve efficient fulfillment of demand, drive outstanding customer value, enhance organizational responsiveness, build network resiliency, and facilitate financial success.