Name: Adeel Zahid

Registration: 2213246

Course: Supply Chain Management

Final Term Paper

Question no. 1)

Supplier relationship management (SRM) is a way of evaluating vendors who provides

commodities, equipment, and solutions to your organization or businesses. It is a very critical
component of corporate success and falls under the bigger umbrella of supply chain
management. This is accomplished by establishing the strategic value of each supplier and
developing a supplier scorecard based on their contribution to your success. Then, by forming
and leveraging strategic partnerships with them, you devise methods to increase their
performance. SRM is frequently confused with supplier risk management, however the two are
not equivalent.

In SRM, there a few goals that should be entertained:

 Developing Relationship with Suppliers

 Evaluate the risks that are attached with the relations like if there are risks related to
quality, quantity or if anything happens badly to your product
 Last but not the least should be optimize the value chain which is the most important
part.

Process of SRM:

There are three main steps of SRM:

1) - Segmenting the Suppliers / Negotiating:

This is first and most important step because in this step company has to prioritize
their suppliers on the basis of their quotation, geographic locations, items, quality provided.
When company categorizes its suppliers then it checks which supplier is viable and feasible for
them.

2) - Building Strategies for the Supplier/ Designing:

 The strategy is the most important part which will be beneficial for the company,
on the basis of segments company has to devise a better strategy which will be beneficial to the
company in the longer run.

3) – Implementation and Monitoring:

When strategy is devised, the final stage is to implement and after that company
has to monitor if the strategy is going good and feasible for the company.

ISCM (Internal Supply Chain Management):

The internal supply chain is the sequence of operations within a corporation that culminates in
the delivery of a product to a consumer. Multiple functions within a company are involved in
this process, including sales, production, and distribution.

 Strategic Planning: Devise strategies that is fruitful for the company in short and long
run.
 Demand Planning: Plan and devise your demand forecasting according to the strategy. If
demand hikes then how company will manage it.
 Supply Planning: In this strategy, how do you plan your distribution channels and that
your product goes seamlessly.
 Fulfillment: When there are influx of orders, how company will fulfill orders.
 Field Service: How company is performing in field, how the logistics are working etc.

CRM (Customer Relationship Management):

The value of customer relationship management (CRM) in the supply chain cannot be
understated. These applications pay closer attention to customer requirements by giving them
a clearer understanding or items in question, the service's content, and added value.
  Market: How do you interact with your customers on the basis of market needs
 Price: Customer is price sensitive and company has to build its relationship with
customer through a good price.
 Sell: When a relationship is build, the next step is to sell the product in market.
 Call Center: Develop call centers to get feedbacks of the customers and act on it
later to improve the product.
 Order Management: Manage the orders that you are getting properly that also
affects the customer experience.

Which strategy is the best and most Important?

The most important factor is SRM (Supply Chain Management) because this is the foundation of
any company. If company manages its suppliers effectively and efficiently, the company is
already making its moves wisely. If the foundation goes seamless, the whole process will go
seamless. This is why it is the most important factor.

Question no. 3).

5 globally accepted practices of Supply Chain Management:

 Recruit Best/ Professionals for Supply Chain:

Emerging technology and a more international supply chain are driving forces in the
evolution of supply chain processes, yet trained employees are in limited supply to
handle these operations. Recruiting firms that specialize in supply chain recruitment are
being hired by a growing number of supply chain executives.
When a company invests in its professional’s trainings and empowerment it is best for
the company itself in the longer run.
 Alliances with the Suppliers:
Building excellent relationships with suppliers is critical to supply chain performance,
since it can save money and increase reliability. These relationships should be equally
rewarding if both parties treat it as a collaboration. This necessitates a balanced
approach to issue solving and the co-creation of goals that benefit both sides. In
 assessing supply partners, companies should search for suppliers who share the same
values and beliefs further than the essentials, such as expertise, cost, and punctuality.
Relationships with the suppliers are the most important factor as it will help the other
processes go easy and in flow.
 Diversify Relationships with different suppliers:
When developing relationships with different suppliers it will help the company make
choices during any mis happening. This way company also has the upper hand in
negotiating.
 Efficient Demand Forecasting:
A better demand forecasting is the best tool for any company to control and measure its
overheads in a better way because through better demand forecasting company will be
able to do better warehouse and store management also.
 Efficient Inventory Management:
Having better visibility to inventory means that a perfect management is needed, and it
can only be done with better demand planning. The better demand planning means that
inventory is properly managed and saves the company from other expenses that are not
needed. supply chain objectives, determining where to make adjustments in your
operations, fixing inventory-demand mismatches, accelerating the order-to-pay cycle.

Question no. 2)
In the case of MLN Bulley Shah Packages Limited BSPL, located at Kasur caught fire at
6:30 PM on 9th of Feb, causalities of 2 factory workers were killed in the fire and 15
workers got burned seriously.
The reason of this fire break was short circuit in fencing area of the company. There
were no critical equipment damage, but BSPL had its contingency plans at its place and
supplies were properly continued to its customers.
As, it was a paper company, company has to properly make plans because it was a
packaging company and the risk of fire was always there and it can be uncontrollable
and immeasurable in certain cases.