SUPPLY CHAIN AND

OPERATIONS STRATEGY
 SUPPLY CHAIN MANAGEMENT CONCEPTS

The aroma of your favorite coffee penetrates the air soon after your alarm clock is gone.
From the field, the supply chain takes those coffee beans to your kitchen. It takes planning, demand
forecasting, procurement and logistics to be able to get local merchants fresh beans. Your caffeine
alternatives would be extremely limited without a reliable supply network. These actions and
processes must be executed efficiently (fuel-saving, cost-cutting, etc.) and on schedule. Otherwise,
consumers like you will be unable to obtain product. It can thus flawlessly conduct the following
processes:
➢ In order to establish effective long- and short-term supply chain plans, Supply chain leaders
must establish integrated supply chain strategies from network architecture to demand
forecasting.
➢ Procurement - Buying raw materials, components, and commodities. You're used to
shopping as a consumer!
➢ Production – Conversion or montage of raw resources for other products into completed
goods or parts. Supply chain managers facilitate the production of key resources.
➢ Distribution - monitor the movement of items across the supply chain. Transport firms and
third-party logistics providers guarantee speedy and safe arrival of merchandise.
➢ Consumer interface – the demand process focuses on consumer contacts, requests and
orders.

PRINCIPLES OF SUPPLY CHAIN MANAGEMENT

Principle 1: segmenting clients to suit their needs by service requirements and changing the supply
chain. Traditionally, managers and salespeople focus primarily on customer demands. However,
each company has a vast consumer base that needs to be separated into smaller groups or
'segmented.' These include sales volume, population and categories of customers. The first
approach is that consumers be grouped according to their service requirements, such as a same-
day delivery, one-week delivery, etc.
Principle 2: Tailor the customer sector logistics network.Adaptation is the key to exceptional
service. Once clients are segmented according to service needs, each segment needs to be adapted
to the supply chain networks. Many organizations are wrong to choose a medium-sized supply
chain for all customers. Nevertheless, the second principle says that distinct and tailored logistics
networks must be developed for different customer segments, such as transport and delivery
methods.

Principle 3: Incorporate market demand signals into planning to provide accurate forecasts and
efficient resource allocation. Three principles of cumulative forecasting A company has various
departments like production, warehousing, and sales. Demand forecasting must be done cross-
functionally, not just by specific departments. Each department must seek to reduce costs, reduce
inventories, and increase revenues.

Principle 4 : Innovate closer to customers and accelerate conversion of the supply chain. The
fourth principle stresses that there are different product variations in different consumer segments.
It must be based on customer requirements. A single standard product cannot meet the
requirements and requirements of all customers. The product must be adaptable, redesigned and
delivered on schedule. The updated objects or components must be supplied more quickly. In order
to do this, the flexibility of product change must be close to production completion.

Principle 5: Source strategically to reduce material and service costs. Outsourcing part or all of
the operations requires planning. According to the 5th principle, having numerous sourcing players
ensures a competitive atmosphere and the best service quote. Every firm should realize that
supplier costs are indirectly corporate costs. The channel partners should work together to reduce
costs and increase profit margins.

Principle 6 : Incorporate several levels of decision-making into your technology supply chain
plan. New technologies can be used by even huge and well-established companies. Complicated
information systems are not the ultimate solution for corporate process reengineering. The
information system should be able to collect data from the supply chain management process and
make it feasible and useful. They must help companies improve real-time processes and
operations.No corporate management wants a thorough report that contains all the data, but no
results. Internet applications and new technologies should make electronic transactions, invoicing
and payments automated to simplify and accelerate Supply Chain Management.

Principle 7: Take channel-spreading performance methods to reach end users effectively. The
seventh and final concept focuses on measuring performance. No firm can evaluate its success or
find new methods to improve it without consistently monitoring and measuring its performance.
Each management of the supply chain should likewise have its own scorecard stating its goals and
objectives. This enables the process to display information and to emphasize areas to use this
experience further to improve the supply chain management process.

SUPPLY CHAIN DRIVERS

1. Product
Increase productivity by ensuring factories have maximum capacity and can create a
variety of things. Alternatively, corporations can produce in smaller factories close to main
distribution centers and clients to reduce delivery times. With minimal extra capacity and a narrow
product variety, organizations may maximize efficiency. Concentrate production at large central
factories for better economies of scale, accepting slightly longer delivery times for output
advantages.

2. Investment
Simulating inventory decisions entails specifying production rates, delivery dates and on-
the-job volumes for different products at different supply chain locations. The stocking of large
inventory levels for a broad range of products and different locations ensures efficiency. Scale
savings and costs savings can only be realized in some strategic areas such as regional distribution
hubs by storing inventories (DCs).
3. Locations
A successful placement decision is made where a company sets up several locations near
its consumer base. With multiple outlets establishing on large-scale markets, fast-food franchises
can respond greatly to their clients. E-commerce companies, for example, serve huge geographical
markets from several central locations that perform a wide range of operations. Consider
replicating your various installations at certain locations and then determining storage capacity
and running costs.

4. Travel
Trucks and aircraft are useful transport vehicles. Many companies that provide items via
catalogs or the internet can deliver products rapidly, often within 48 hours or less. Greater batches,
less frequent traffic and bulk transporters, such as ships or railways can enhance efficiency.
Transportation from a central distribution center can be more efficient than from multiple
branches.

5. Data
Every year, information collection and dissemination technology becomes more
accessible, cheap and user-friendly. Data is useful, like money, since it can be utilized to take
decisions that benefit other drivers of the supply chain. Your supply chain should collect, collect
and exchange reliable driver data. Consider the supply networks of electronics; they are among the
world's most responsive. These supply chains collect and share customer demand, production
planning and inventory data.
 EFFECTIVE OPERATIONS AND SUPPLY CHAIN MANAGEMENT CAN ENHANCE
COMPETITIVENESS

Supply chain is the lifeblood of the globalized economy today, which enables worldwide
trade activities. The supply chains developed to reflect the increasing complexity of global trade,
which is highly competitive, highly networked and changing rapidly. It is no surprise that in every
boardroom, the Supply Chain has become a crucial agenda issue. Twenty-first century supply
chains are global supply and demand networks interconnected, sensitive to uncertainties in an
uncertain environment. Outsourcing and offshore became increasingly popular and generated
wider webs with different stakeholders. Supply chains have evolved into multi-layered interwoven
distribution systems to enhance trade between businesses, cities and countries.

Strategic Supply Chain

Supply chain is increasingly considered strategic — as a business enabler, income
generator, and differentiator. Many organizations today compete on supply chain capabilities as
much as on product capabilities. Because the supply chain encompasses all activities necessary to
get items to clients, it touches virtually every department and function. World class organizations
no longer see their supply chain as a means to an end, but as the engine that propels their business.
These days, ‘Supply Chain is The Business'.

Connected Supply Chains Boost Profitability

The supply chain is a competitive advantage and distinguishing point in today's
complicated connected world. Supplier chains are designed to allow corporations to supply
products faster, more efficiently and cheaply than their competitors. Market time and effective
distribution channels are key factors of success for many companies, particularly high tech,
consumer, pharmaceutical and fresh food. This produces exciting synergies between the supply
chain and the marketing departments, which together form the main drivers for modern companies.
These tasks include all of the mission-critical functions of a corporation, with IT, HR and Finance
playing vital supporting roles. Following the four-part marketing activities, the supply chain
includes the five roles of Plan, Source, Make, Deliver and Return.
 DECISIONS MADE BY BUSINESSES TO IMPROVE THEIR SUPPLY CHAIN AND
OPERATIONS.

1. Optimize Company Stock

Check the inventory of the company. Just keep what you need. The cost of holding
inventories is substantial. One year of inventory holding expenditures might be close to 60 percent
of the cost of an item. Improve inventory planning and forecasting for the organization. Another
alternative is to use truck scales for inventory management. The scales offer accurate measures
that could help you decide how much to store.

2. Enhance Distributor Network

Among the ways to improve the distribution network:
a) Clustering charts, graphs, and documents. This aids in observing certain
company procedures.
b) A holistic approach examines the distribution network's fundamental
components. It also focuses on how the components operate together.

3. Constitute an SCC
Create a governing board with a specified efficiency strategy. The role of the Council is to
guide and integrate supply chain strategy to company objectives. The council helps to overcome
organizational barriers. It improves cross-functional communication as well. It trains leaders for
future projects for supply chain management.

4: Embrace Tech
Improve technology supply chain. Examine all existing techniques that yield unsatisfactory
results. Identify where technology implementation can help processes. Industrial scales can
increase the visibility and accessibility of the supply chain, for example.
5. Foster Supplier Relationships
Your supplier connection impacts the supply chain's success. Maintain supplier ties even
after negotiations are closed. Focus on developing supplier relationship strategies. Set goals for
sustaining value, monitoring performance, and resolving dispute

6. Re-evaluate Procedures
The Supply Chain Council must review policies in order to preserve efficiency and
compliance. It also minimizes supply chain bottlenecks, streamlines operations and reduces the
risk of robbery and fraud. Regular reviews help to detect risk and the financial effect of risk factors.

7. Develop Green Initiatives

Reduce the carbon footprint of your supply chain. The supply chain and logistics must in
reality be more environmentally friendly. Consider your vendors' environmental impact. Have a
demonstrably sustainable policy and procedures structure.

APPLICATION OF DIFFERENT STRATEGIC APPROACHES TO SUPPLY CHAIN

AND OPERATIONS MANAGEMENT IN ORGANIZATIONS

1st Strategy : Plan and run your business on the basis of demand statistics and demand forming in
real time. Supply chain management teams use digital tools to estimate demand more and more.
The artificial intelligence and internet networks (IoT) have developed, enabling SCM teams to
react faster and adjust supply chains automatically to meet forecast demand. The position of the
cloud in the new supply chain is growing. More companies migrate data and applications to the
cloud to enable unified data models with external sources. This enables remarkable prediction and
planning accuracy levels. Organizations are increasingly returning on their modernisation costs in
the supply chain. According to our newest research, cloud-based enterprises increased delivery
and sales by 20 percent-30 percent. They also reduced stocks by 25%-60%, lowering working
capital requirements by 25%-60%. Use of assets increased 30-35%.
2nd Strategy : Construct a flexible and agile supply chain with integrated manufacture. This year,
the management of supply chains is all about agility. This improves operating speed and flexibility
for enterprises. A fully integrated solution is still out of reach for certain companies. According to
a study from 2014. Only 9 percent had a "well integrated environment for supply chain planning."
Today, companies continue to confront the same issues. Problem: the amount of information and
analytics needed for planning and implementation to be fully integrated in real time. But cloud-
based technology is now accessible which integrates financial and material planning duties into
business implementation operations such as procurement, manufacture and inventory management
– all via a single web interface. Companies can now develop zero latency plan-to-production
processes in order to respond swiftly and seamlessly to changing markets.

3rd Strategy : The design and management of products for supply, production and sustainability
can accelerate valuable innovation. The days of product development and supply chain planning
have come to an end. The previous way of "throwing the product across the wall" for supplying
chain planners, who understand how to purchase and build products, is no longer competitive.
With regard to cellphones, due to competition, manufacturers regularly develop and launch new
models. The only approach is to join a single (typical cloud-based) platform that combines design
and supply chain planners. You may help product developers to produce the right components
early, based on criteria such as availability, quality and affordability. Our research shows that
combining design and supply chain design can cut scrap and rework expenses by 10% to 20%.

4th Strategy: Integrate sales and business planning in business planning to harmonize supply chain
objectives. In recent years, business hazards have increased considerably. Market anxiety is
increasing from Brexit to tariff tensions. For this reason, companies need to combine tactical sales
and operational planning with strategic budgeting and prediction. Execution tasks on the ground
are continually being changed to reflect changing market conditions. The creation of a full loop
from strategy to performance management enhances corporate agility.

5th Strategy : Include sustainability into the activities of the supply chain In the C-suite,
sustainability, both social and environmental, overcame growth and profitability. Sustainability
and profitability no longer exclude each other. The Business Roundtable published a statement last
year stating that companies should prioritize sustainability before shareholder returns.
Sustainability can have a substantial impact on the health of the environment from carbon
emissions to industrial waste and pollution through supply chain operations. Companies may
currently optimize sustainable supply networks in several ways:
➢ Supply-chain teams can establish long-term targets for reducing the company's carbon
footprint, energy consumption and recycling.
➢ Modern technology may be used by teams to minimize fuel use and carbon emissions, such
as optimization of truck routes.
➢ Companies can adopt a shared data model with a view to simplifying supply chains and
ensuring their sustainability.

6th Strategy: Adopt new technology to ensure consistent supply. Fluctuations in demand need to
be buffered, yet too much inventory might increase costs. New technologies can increase the
accuracy of demand and minimize inventory demand to make a supply network more flexible and
reliable. In the uncertain global commercial world today, determining the source of resources,
producing products and delivering goods is crucial to reducing costs and guaranteeing compliance.
And now AI, machine education, and IoT are more than simply mottoes. They are now proven
solutions which streamline supply chains and boost global agility. Now that these features are built
in cloud solutions, consumers can immediately use them. So you can start employing technology
to change games without investing in major projects or abilities that are difficult to find.
 PERFORMANCE MEASUREMENT WITHIN SUPPLY CHAIN AND OPERATIONS
MANAGEMENT.

Assessing supply chain performance

While many firms are well on their way to Operational Excellence, at least in their Supply
Chain, employing Strategy Deployment, Balanced Scorecards, and Lean Six Sigma, others are still
considering how to get started. Lack of a thorough and systematic Supply Chain performance
measurement system is one issue. This makes it difficult to link future Lean Six Sigma efforts to
the organization's overall goals and objectives.

1. Stock Investment
Profit and cash flow are instantly affected by investment in inventories. Due to long lead
times, variable demands, predicted erroneous demand, and lack of production capacity, each
company must invest in raw materials, work-in-process, and finished stocks of goods. Depending
on the delivery time, estimated demand and customer service objectives, inventory investment
should be established by item and location.

2. Efficiency of Stocks
High inventory investment does not signal an inventory problem, as it coincides with
demand for a specific product. Thus, inventory turns or days-of-supply are crucial indicators of
inventory investment efficiency. Inventory turns are computed as the annualized COGS/monthly
average inventory investment. Inventory turnover is measured annually.

3. Supply-chain timeliness
The delivery performance on time is determined by comparing promised delivery timings
with actual delivery times. This can be indicated in percentage terms (attribute), whether the
supplier has met the delivery window provided, or in real-time late or early hours (variable). The
latter option is preferable to improve supplier delivery performance. Late deliveries affect
production and delivery schedules, operating costs and total lead times. Supplier delivery on time
is crucial.

4 Accuracy Forecasting
Predictability is an important statistic for the supply chain, since it anticipates future
demand and hence drives the entire supply chain. There are three approaches to determine
predictability. Depending on the industry and maturity of the forecast, most companies have a 30-
, 60- or 90-day perspective to estimate demand predictions and plan accuracy.

5. Lead Time
Lead time is the time required to complete an activity or procedure. Order-to-cash or order-
to-ship lead times are vital to measure since they influence a major share of overall supply chain
expenses and inventory investment. Quota time (waiting), processing time (moving), shipping time
(and inspection time).

Objectives of Operational Performance

In order to meet the corporate plan, the operative performance objectives of a corporation
are improved. After defining its corporate strategy, a company determines the operational
performance objectives for environment measurement and design. According to Andy Neely,
author of “Business Performance Measurement: Unifying Theory and Integrating Practice,” five
important operational performance objectives are achieved.

The Goal of Speed

Speed is measured by how quickly a corporation can deliver products and produce sales
quotes. This goal will be concerned with the time it takes to manufacture and process a
company's product or to study and develop a new product.
Product Quality
Quality is usually measured by how well a product meets particular requirements. Andy
Neely says it's more. Customers trust in a product's value if its attributes are desired. These are
all relevant quality measures.

Cost Variation
This target assesses the amount of variation in the cost of a product based on parameters
such as volume and variety. More diverse products tend to have lower volumes and higher unit
costs. This eventually affects the pricing, production expenses and profit margins of the product.

Optimal flex
Flexible operations can set up product lines to fulfill various requirements and adjust
quickly to new requirements. This concerns the speed objective. The operations of a corporation
should be sufficiently flexible to respond to changing market conditions and delivery dates.

Operational Performance Reliability

This operational performance objective measures the reliability of the organization to
deliver things to consumers on time and on budget. Dependency refers to the ability of a product
to perform for a fair period of time.
 EVALUATE VARIOUS FINANCIAL, NON-FINANCIAL, SINGLE AND MULTI-
FACTOR PERFORMANCE MEASURES APPLICABLE TO ORGANISATIONS

Financial performances

1. Gross Margin
The gross profit margin is the proportion of income left after the cost of the items sold is
deducted. The cost of products sold does not include operational costs, interest and taxes. In other
words, a measure of profitability that removes overheads is the gross profit margin.

2. Margin of profit
It is the percentage of income that remains after all business costs are eliminated, including
items sold, running costs, interest and taxes. Net profit margin comprises all connected expenses
in addition to the cost of goods sold.

3. Inventories
Working capital is a measure of a company's daily operating liquidity.

4. Current Ratio
The current ratio measures the company's ability to pay short-term obligations (those due
within a year) using current assets and liabilities.

5. Quick Ratio
The fast ratio, known as the acid test ratio, examines the ability of a corporation to fulfill
short-term bonds. The numerator only uses highly liquid current assets such as cash, marketable
securities and receivables. For instance, stocks are supposed to be hard to convert into cash.
Non-Financial Metrics

Not sure where to start or if you have tapped into the right non-financial metrics? Here are
six key non-financial metrics that Marketing should own.

1. Brand Preference: This indicator helps you determine the position of your firm with regard to
competitors. Many marketers talk about awareness, but whether you are among the "choose" is
important. Consider changing your awareness research to learn how your firm and its services are
taken into account. You want to know how you compare yourself with the competitors.

2. Your take rate is, after preference, the next non-financial metric. This is the number of customers
who take action with regard to your offer to download a case study, register or arrange an
appointment for a free trial. It is easy to calculate the rate of taking. Here's a case in point. Suppose
you run a cyber security firm and give anybody who signs up during the next 30 days a 20%
discount on risk assessment. Campaign $10,000 (direct and indirect.) Your email distributes the
offer to 1000 consumers in the database and 100 registered. Divide the takeovers (100) by the
consumers (1000). In this scenario, your rate is 10%. The registrant costs $10,000/100. Is it good?
Is it good? We can evaluate the return on investment by assessing the results of the campaign and
the response to the offer.

3. Churn and retention are two sides of the same coin. As many marketing companies focus on
customer acquisition, it's a red flag to attract customers while existing customers leave. Retention
is the number of customers repeatedly, whereas churn is the amount of existing customers that do
not buy from you. The objective is obviously to increase retention and reduce turnover. The
objective is to define the demise of a consumer. That's how it is. Defection/churn is 30 days after
the subscription-based product renewal date.

4. Customer experience affects retention and churn of customers. In order to quantify customer
experience, all important touch points must be taken into account. Once these are available,
describe what constitutes a superior vs a subpar experience.
5. Innovation: the capacity to launch new products/services successfully. New product
development and adoption rates show the ability of your company to give your customers and the
market value.

6. Market share: customer retention, customer rate, customer experience and innovation effect all
market share. The important word in this statistic is market. Market share is a vital indicator of the
performance of the firm and its marketing. Market share offers several advantages, including better
operating margins, which are an important financial statistic. You have first to know how many
clients and dollars are accessible on the market to calculate your market share.

EVALUATE THE SELECTION AND APPLICATION OF KEY PERFORMANCE

INDICATORS FOR EFFECTIVE SUPPLY CHAIN AND OPERATIONS
MANAGEMENT.

Key Performance Indicators

These measurements are used to evaluate the overall long-term success of an organization.
The strategic, financial and operational performance of a company is compared with that of
competitors in the same field. KPIs or key indicators of performance differ according to firm and
industry and performance criteria. For example, a software business that seeks to exceed its
competition can consider annual growth in sales as a significant measure for performance.
However, the same-store sales can be measured by a retail chain as the best KPI statistic.

Types of Key Performance Indicators (KPIs)

Monetary metrics
Typically, financial KPIs focus on income and profit margins. Net profit is the amount of
revenue remaining for a particular time after all expenditure, taxes and interest payments. It must
be transformed from a dollar to a percentage of revenue in order to compare net profit (known as
"net profit margin"). The typical net profit margin for an industry, for example, is 50%, and a new
entrant knows that he must reach or exceed it to remain competitive. The gross profit margin is
another common profit-based KPI, which evaluates the income after deduction of direct cost of
production. The "current ratio" evaluates the liquidity of a corporation by dividing existing assets
into current debt. A healthy corporation usually has adequate cash to fulfill its 12-month
obligations. Due to the difference in debt financing that different industries demand, a company
should only compare its current ratio to that of its peers within the same industry.

Client Metrics
Customer-centric KPIs typically focus on per-customer efficiency, satisfaction, and
retention. This is the total amount of money a customer is expected to spend on your products over
the course of the business relationship. CAC, on the other hand, is the total cost of acquiring a new
customer. Businesses can evaluate their customer acquisition efforts by comparing CAC to CLV.

Process Metrics
Process metrics are designed to quantify and evaluate operational performance overall. By
dividing the number of defective items by the total number of products produced, companies can
calculate the defect rate. The aim is to minimize this number to the maximum. The time it takes to
run a process is the total time. For example, a drive-through restaurant counts the time it takes for
an average client to leave their food while ordering.

Balanced Scorecard

It is a strategic management performance measure used to detect and enhance internal

business activities and external results. Balanced scorecards are commonly used for measuring and
providing feedback to companies in the US, UK, Japan and Europe. Managers and managers
collect and analyze data for quantitative results. This data can be used by personnel to make better
business choices.
The Balanced Scorecard Model’s Features (BSC)

A business collects and analyzes data from four sources:

1. Training and knowledge resources for learning and growth are examined. This first leg
examines how data is collected and how employees use it to obtain competitive advantage
in the industry.
2. Product quality assessment of business operations. It identifies deficiencies, delays,
bottlenecks, scarcity and waste.
3. Customer feedback is gathered to assess satisfaction with product or service quality,
price, and availability. Customers express satisfaction with current products.
4. The performance of a company is measured by sales, expenses, and income. Money,
financial ratios, budget variances, or income targets may be included.

INTRA AND INTER-ORGANISATIONAL BENCHMARKING CAN HELP

ORGANISATIONS IMPROVE THEIR SUPPLY CHAIN AND OPERATIONS
MANAGEMENT EFFICIENCY.

Benchmarking in The Supply Chain

Benchmarking, or goal setting, allows a company to assess its supply chain logistic control
opportunities. Inputs include bin-to-bin time, inventory accuracy, and shipping accuracy. A
logistic benchmarking process can help a company estimate the benefits of any improvements. An
organization's supply chain operations should be constantly reviewed for improvements and flaws.
Benchmarking supply chain processes is one way to achieve this.
Benchmarking Types

There are three types of benchmarking. Each type contributes to the business process.
1. Internal benchmarking focuses on one company's processes.
2. External benchmarking looks at processes outside a company's industry.
3. Comparative benchmarks look at similar firms' processes.

Benchmarking outside

Aside from the direct industry or sector, external benchmarks allow for examination of
other areas. When companies perform internal benchmarking and want to improve their internal
performance, this process adds value. External benchmarking can yield big gains. Many businesses
believe their processes are efficient. However, knowledge within the company often limits
efficiencies. The external benchmarking process exposes a company to new methods and
procedures outside of its own industry.

Comparative Analysis

Every business wants to outperform its competitors. When a competitor gains market share
or sales, a company may wonder what secret formula they are using to succeed. Since the
competitor is unlikely to invite your firm into their warehouse to benchmark, you must hire an
outside consultant. Companies can hire consulting and research firms to conduct competitive
benchmarking. This research will reveal their process's strengths and weaknesses compared to
their competitors. The company can then create improvement plans using the competitive
benchmarking data.
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