endobj endobj This theory ensures that the customer’s agreements are met. 11 0 obj Type 2 involves joint plannings and decision makings on new products, business plans, forecasting and sales promotions. It is the planning, execution, controlling costs of inventories, work in progress and the final products from consumption point to the original point. �&�+#���GX. Craig R. Carter, Lutz Kaufmann, David J. Ketchen, Expect the unexpected: toward a theory of the unintended consequences of sustainable supply chain management, International Journal of Operations & Production Management, 10.1108/IJOPM-05-2020-0326, ahead-of-print, ahead-of-print, (2020). 9 0 obj stream endobj /Contents 26 0 R>> This is a theory that gives relationship and explanations on all the networks which are available to facilitate connections between all levels in supply management. Bridging organization theory and supply chain management: The case of best value supply chains. Customer Relationship Management (CRM) theory. stream Systems Theory: ST brings together various components of a complex supply chain (that is the human, capital, information, materials and financial resources etc.) � ��� Despite a lot of focus on the forward logistics by supply chain management, the importance of reverse logistics cannot be ignored. endobj 31 0 obj to form a subsystem which is then part of a larger system of supply chains or network. Articles on Management Subjects for Knowledge Revision and Updating by Management Executives ---by Dr. Narayana Rao, Professor, NITIE---3 MILLION Page Views--- Global Top Blog for Management Theory---Management for Effectiveness, Efficiency and Excellence. Supply Chain Management : Practice, Theory, And Future Challenges Essay 999 Words | 4 Pages. Systems theory is based on the systems in which the institution’s supplies are handled. (Ketchen & Hult, 2006) Time-Based Competition Theory (TBC).This is a theory that ensures that the management of supplies is done in time. Keywords: supply chain management, theory, practice, implementation Introduction Since its introduction by management consultants in the early 1980s, the SCM concept has risen to prominence in both academic and commercial circles. 19 0 obj x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Qp�W� � � � Halldorsson, A, Kotzab, H, Mikkola J., Skjoett-Larsen, T.(2007). endobj /Contents 12 0 R>> endobj 21 0 obj � ��� endobj 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. Agency Theory (AT). endobj 14 0 obj 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. Requirements Chain Management. Performance Information Procurement Systems (PIPPS). stream 3 0 obj This is a practice that ensures that all the risks which might be involved during the procurement and supplies process are taken into consideration. Complementary theories to supply chain management. endobj 10 0 obj stream <> Available to promise (ATP). This is a practice which designs an information system which measures the performance of procurement processes in the organization. endobj Manufacturing: improving quality to eliminate defects and returns 3. <> endstream endstream endstream Despite the popularity of SCM research and applications, considerable confusion remains as to its meaning. 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. /Contents 4 0 R>> 13 0 obj Revolutionizing supply chain management the theory of constraints way: a case study Kartik Modi Godrej & Boyce Mfg Co Ltd, Mumbai, India , Harshal Lowalekar Indian Institute of Management Indore, Indore, India Correspondence harshal@iimidr.ac.in An authoritative, quantitative approach to supply chain management. endstream x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �Pp�W� Amidst fierce competition in all industries, SCM has gradually been … x��\M�䶑�������E_�=��rH��R;|��@���˪�XԴzG�~_ ��b�%o(bW� �/_~�����QUK���>>����X}�鮭>��x�җU���s���]۴m�q'>W�z8��Ue�ktW��]��|�}�Xݩ���p�eT����?wGZ)�j]�kZM��kWm�`���N�[[=�b��^�Bm�|�ϫk�ݹ��?�����m���U��?��'�J��}f�����7�~���QΪ�}��}?��`���5>����c;�����������V���&�h�� <> Knowledge-Based View (KBV) theory. Supply Chain Management (SCM): Theory and Evolution 5 within a supply chain. endstream <> Supply Chain Management includes managing supply and demand, sourcing raw materials and parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels, and delivery to the customer. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Pp�W� /Contents 14 0 R>> Ketchen G & Hult, M. (2006). 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. endstream <> <> 15 0 obj stream /Contents 24 0 R>> 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. <> OPERATIONS AND SUPPLY CHAIN MANAGEMENT – COCA – COLA 5 4.0 Methodology The research methodology employed with regards to Coca-Cola’s operations and supply chain is game theory. Perhaps one of the most effective ways of doing so is to apply the theory of constraints (TOC) to supply chain management. (Festus & Xiaoming, 2010). /Contents 22 0 R>> The basic idea is that every process is limited by some kind of constraint (think of the saying, “A chain is only as strong as its weakest link”). 29 0 obj 20 0 obj endstream 1 0 obj Supply chain management seeks improved performance through better use of internal and external capabilities in order to create a seamlessly coordinated supply chain, thus elevating inter-company competition to inter-supply chain competition (Anderson and Katz, 1998, Birou et al., 1998, Christopher, 1996, Lummus et al., 1998, Morgan and Monczka, 1996). It is very much an extended endobj endobj 17 0 obj stream Quick Response Manufacturing (QRM). 23 0 obj x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Qp�W� DOI: 10.1108/01443570610672220 Corpus ID: 17758687. develop SCM theory. <> <> There is a myriad of concepts which have been conceptualized leading to framing of some of the applicable theories. endobj Resource-Based View (RBV). 18 0 obj Materials Requirement Planning (MRP). x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Vp�W� endobj There are several attempts made by researchers and practitioners to appropriately define SCM. Supply Chain Management: An International Journal, Volume 12 Issue 4, 284-296. 27 0 obj Supply Chain Management (SCM): Theory and Evolution, Supply Chain Management - Applications and Simulations, Mamun Habib, IntechOpen, DOI: 10.5772/24573. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Up�W� endobj This explains that all the programs are designed to create a good relationship with the public. The authors focus on strategic, tactical, and operational aspects of supply chain management and cover a broad range of topics from forecasting, inventory management, and facility location to transportation, process flexibility, and … <>>>] The study focuses on investigating, how supply chain management influences the performance of reverse logistics with specific examinations on how IT impacts it, the effects of IT on the reverse logistics performance and the collaboration and information sharing on reverse logistics. The application of game theory allocates logic to the strategies employed in the management of the system and thus helps in identifying any weaknesses that could be associated with particular section of the … (Ketchen & Hult, 2006). x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Sp�W� Few practitioners were able – or even seriously aspired – to extend their reach across the supply chain in the manner prescribed in much modern theory. /Contents 18 0 R>> The authors demonstrate that, “although definitions of SCM differ across authors […], they can be classified into three categories”: (1) SCM as a management philosophy (= supply chain orientation), which involves a systems approach to viewing the supply chain as a whole, a strategic orientation toward cooperative efforts, and a customer focus; (2) SCM as an implementation of a management … endstream This theory explains that there should be a quick response in dealing with all the manufacturing process. <> 22 0 obj This theory explains the relationship between the principals and the agents. 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. Procurement: avoiding duplicate procedures 2. This definition implies that … Several theories have specifically addressed the issue of management information systems. � ��� In the late 1990s, "supply-chain management" (SCM) rose to prominence, and operations managers began to use it in their titles with increasing regularity. 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. 4 0 obj endobj Strategic Supply Chain Management (Level 6, Unit L6-02) A major part of the book is devoted to the implications of new concepts such as Customer Relationship Management, Supplier Relationship Management, Vendor-managed Inventory, Efficient Consumer Response, and Collaborative Planning, Forecasting, and Replenishment. 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. 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. This book presents the methodology and foundations of supply chain management and also demonstrates how recent developments build upon classic models. Transportation: consoli… stream Materials Logistics Management theory (MLM). The issue of the process of linking various stakeholders has also been of a big concern. [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. (Halldorsson et al., 2007). x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Wp�W� � ��� endstream stream 12 0 obj 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. <> � ��� � �o� 2.1 Definition of a supply chain In this chapter we take a process view, which means we look at a supply chain as a sequence of (decision making and execution) processes and (material, information and money) flows that aim to meet final customer requirements Theory of Constraints (TOC) .This is a theory that designs a budget line with the required institutional specifications. This management theory focuses on the managers ability to invest in and promote human collaboration between employees throughout the global supply chain. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Tp�W� <> According to Chopra and Meindl (2001), SCM engages the management of flows between and among stages in a supply chain to minimize total cost . � �f� � �]� stream A substantial body of academic knowledge has been, and continues to be, developed in the broad SCM domain. This theory is based on the principles under which the institution is governed. /Contents 16 0 R>> /Contents 6 0 R>> /Length 5507 >> endobj /Contents 28 0 R>> endobj endstream 15 Iss: 6 Pages.454-462. It ensures that relevant policies are adopted which minimize the costs and increase revenue. The theory stipulates that the supply chain management should be oriented towards improving the output within the organization. <> <> x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �14Rp�W� endobj Institutional theory (INT). endstream <> � ��� �U���Pp��;B�P��?����r�y���_?�{-�t��?���/���su:�/�Y�#��Ȃ��B���4칉�na�Z��:j��%�{Ow���&�|C+i�Y��Nˆ�{[���W�߱w��q�y���q�A[^j�ź�˦#m��쥾5�����$��q����R���u�֏i��zH�Pm� �� :���c�4���Ӏσu���� |�O�=���_�ƫ��E�Q�f5y뜏b�?���s~�\�tQ�_��O �3�V����*����)�E���;��������{킫�G@_k}W쀛� 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}, … Currently, there are three collaborative relationships which have been identified: type 1 involves building data using IT applications, standardizing information. Strategic Choice Theory (SCT). 6 0 obj (Halldorsson et al., 2007). stream The theory is based on the systems of the organization. /Contents 8 0 R>> Festus, O. 7 0 obj endstream endobj endobj endobj <> Supply Chain Management (SCM) has been widely researched in numerous application domains during the last decade. Supply chain management plays a large role in the world we live in. endobj � ��� This type requires building trusts, setting joint business goals and designing of inter-connected processes. [9] (Ketchen & Hult, 2006). Journal of Operations Management, 25(2) Pages 573-580. 30 0 obj The theory designs mechanisms to ensure that the level of inventory is controlled. 24 0 obj (Ketchen & Hult, 2006), The theory stipulates that the supply chain management should be oriented towards improving the output within the organization. – The paper aims to explain how agency theory can be used to inform our understanding of the dynamics surrounding supply chain behaviours and relationships., – A structured review of the literature using a three‐stage refinement process is used. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Rp�W� Total Quality Management (TQM). <> The theories explained show a close relationship. Performance Information Risk Management Systems (PIRMS). x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Vp�W� ?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���. /Contents 30 0 R>> In a world of soaring digitization, social media, financial transactions, and production and logistics processes constantly produce massive data. Network Perspective (NP) theory. 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. x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �Tp�W� <> Supply Chain Management’s Beginnings. The theory is based on the transaction costs which are incurred during the supplies. & Xiaoming, L. (2010). (Van Der Vorst, 2004) Van Der Vorst defined supply chain management (SCM) as "the integrated planning, coordination, and control of business … Quick Response Manufacturing (QRM). This is a theory that ensures that the process of supply is done with considerations of all the relevant procedures and requirements. 25 0 obj Transaction Cost Analysis (TCA) theory. . This book explains supply chain management (SCM) using the strategy–structure–process–performance (SSPP) framework. Reverse logistics involves material flow from end users to suppliers. <> x�3R��2�35W(�*T0P�R0T(�Y@���@QC= P A�J��� �1Tp�W� (Festus & Xiaoming, 2010). <> <> <>/Group <> stream Supply Chain Management: Theory of Constraints. endobj � �T� The Theory of Constraints (TOC) is one of the simplest, most powerful supply chain concepts. %PDF-1.4 16 0 obj This is a theory which states that all the raw materials which are supplied must be of relevant quality. <> endstream /Contents 20 0 R>> endobj Addressing the need for the study of supply chain management to evolve at the same pace as it's real-world practice, Fundamentals of Supply Chain Theory presents the methodology and foundations of the topic and also demonstrates how recent developments build upon classic models. 28 0 obj <> endobj Information Sharing and Collaboration Practices In reverse Logistics, Supply Chain Management: an International Journal, Vol. <> Findings – The paper reveals that supply management is, at best, still emergent in terms of both theory and practice. 8 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. 5 0 obj This is reflected in the lack of conceptual frameworks for the development of theory on supply chain management. /Group <> Warehousing: keeping inventory at low levels 4. The first concern is the propositional value of customers and suppliers, mapping of existing supply chain and the metrics which are used to evaluate the performance of the supply chain. Fredrick Taylor, the founder of industrial engineering who wrote The Principles of Scientific Management in 1911, targeted the process improvement of manual loading in his work. <> Finally, step 3 involves joint problem solving and warehouse schedule. endobj /Contents 10 0 R>> stream <> � �x� 26 0 obj Supply Chain Management: Practice, Theory, and Future Challenges Name Institution Abstract Purpose – To analytically assess current changes in the theory and practice of supply management and through this assessment identify possible barriers, and key trends. endobj Systems Theory (ST). endobj stream This theory is formulated going by the information knowledge that is available. � ��� endstream <> The supply chain industry’s beginning of operations research as well as industrial engineering started with logistics. <> This theory stipulates that the designing of the supply management process should be based on the resources which are available to the company. 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Words | 4 Pages information systems and designing of the most effective ways of doing so to... Sharing and collaboration Practices in reverse logistics can not be ignored, supply management... That relevant policies are adopted which minimize the costs and increase revenue focuses on the of! Systems of the simplest, most powerful supply chain management: an International Journal, Volume issue., there are several attempts made by researchers and practitioners to appropriately define SCM domain! Developed in the lack of conceptual frameworks for the development of theory on supply management. Applications, considerable confusion remains as to its meaning applicable theories within the organization system which measures the performance procurement... To apply the theory is based on the principles under which the institution ’ s supplies are handled the. Theory, and continues to be, developed in the lack of conceptual frameworks for the of! 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With considerations of all the relevant procedures and requirements is controlled are handled attempts made by researchers and to... ( 2 ) Pages 573-580 in reverse logistics, supply chain Pages.! The broad SCM domain areas of strategic management and also demonstrates how recent developments build upon classic models into... Build upon classic models good relationship with the required institutional specifications engineering started with logistics substantial of. In and promote human collaboration between employees throughout the global supply chain management and organizational design, is! Value supply chains with supply chain management theory the raw materials which are supplied must be relevant. The performance of procurement processes in the broad SCM domain involves building data using applications...