Supply Chain Management Is A Process Which Requires Precise

Supply chain management is a process which requires precise efficiency for smooth business practice. Efficient supply chain management can separate companies within an industry and deliver impressive results with net positive effects. The theme of supply chain management requires the effective use of assets to satisfy customer needs. Components include, the flow of goods, the transportation of products, labor usage, warehouse/inventory management, aggregate planning, and etc. Given recent technology, efficiency has been ultra-modernized as algorithms and programming have developed statistics to formulate the best result to minimize the total cost of operations. This ultimately increases productivity and maximizes efficiency. While every†¦show more content†¦Remarkably, Walmart has simplified their process into a model which harvests less overheads for products and inventory. What’s more impressive, is that the company is the largest retailer in the world, with more th an 11,500 stores spread throughout 20 plus countries. The transition for new developments in the SCM cycle have been smooth and productive. The company’s commitment to SCM makes it an industry class when considering they have over 2 million employees to manage. Walmart is indeed a great logistical and operational company. The company’s efficiency has been excellent and risen to an elite standard throughout the years, while managing an average of $32 billion in inventory. It seems obvious that having an effective and efficient distribution and management system is necessary for Walmart’s maintenance, however the strategy involved is equally imperative. The strategic model and identity of Walmart is to drive out costs, enabling consumers to save money. Walmart’s model works as they are not only an industry leader but also a profound world leader in inventory turnover and operating profit for any discount retailer. James Crowell, director of the Supply Chain Management Research Center at the Walton College of Business praised Walmart’s SCM efficiency proclaiming, â€Å"I don’t believe there is a university in the world that doesn’t talk about Walmart and the supply chain,† â€Å"They are just so wellShow MoreRelatedSupply Chain Management and Anticipatory Logistics1234 Words   |  5 PagesSupply chain management (SCM) is one of the most important factors in todays business operations. With international product raw material sourcing and international sales, the scope and complexity of supply chains can be significant. Customers requirements drive the process by demanding that their orders be shipped accurately, on time, and with the agreed specifications of the product. 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