Article on Game-Changing Trends in Supply Chain
EXECUTIVE SUMMARY / ABSTRACT
The main and the core theme of the article is how
organizations can maximize their revenue and profits by using limited and
scares resources and on the other hand it also tells us how to gain and retain
customers by providing maximum satisfaction level by giving them services at
the level they want and not on the standard levels. It also expresses that how
things are changing frequently. The ways of doing business are changing;
organizations are trying to mold the competitors on their side by collaborating
with them. They should develop the level of interest. They should develop a
supply chain to collaborate and for mutual beneficial long term outcomes
effectively and in a shorter time period.
This article discusses 10 game changing trends with the
help of which organizations can move forward in a positive way. Firms can adopt
these trends to if they want to succeed. It also define that how to deal with
the competitors or with the customers etc. to do business in a good way. This
article not only provides the rules for success but also defines how to use
them in order to get positive response. Things are changing at a high pace so
the firms need to change according to the situation, they have to adopt new
trends and change their mind set, operations, tactics etc. according to the
environment provided. They have to do the SWAT analysis and try to adjust the
strategies according to it. Organizations need strong internal communications
as well as collaboration. Organizations need cross functional integration
within the company and outside the company as well. This will help the firm to
understand the situation properly and by collaborating with each other will
help to achieve the targets better and with affectivity. If the department of
the company are integrated properly and they are sharing information as soon as
they receive it, than there are chances of getting the things done quickly and
free of errors. As communication is considered as the blood line of the firm so
it is also an important part for getting ahead. Firms should create a
cross-functional accountability. They also set the demand graph accordingly.
The forecast should be done with reducing forecast errors by forecasting the
exact demand. Forecasting to end casting tool will help
the organization to set the upcoming trend with more accuracy. By seeing the
past trend history of the company forecasting is one of the trends in supply
chain.
Another aspect of this article is to acquire the best
talent in order to get maximum and innovative output. Talent hunt is now one of
the main trends. Companies are looking for talent that can handle the situation
with ease and give results according to the desire.
FOUR KEY QUESTIONS OR THESIS STATEMENTS/ARGUMENTS THAT THE ARTICLE PROPOSES ARE:
TO ACHIEVE THE OBJECTIVES OF THE COMPANY
Supply chain play a critical role in helping companies
achieve growth objective. Supply chain is closely related with the business strategies
which help the business to achieve the objectives and to sustain. Game changing
trends in supply chain are necessary in today’s world in order to achieve the goals
and targets set by the company. Supply chain management can contribute a lot in
the accomplishment of the goals set by the company. Increase in the
productivity by following the trends will ultimately lead to increase in the
overall rate of the profits of the company. Tough decisions that are taken by
the management to achieve the targets will benefit and support goals. Lack of
target achievements will lead to instability of the organization which sometime
lead to insolvency and in the long-term company may have to close its
operations due to this instability. Supply chain management gives the
opportunity to achieve the goals with positive graphs. It gives strength to the
businesses and firms. The dynamics that supply chain management provides is
sometime overlooked by the management or neglected by the superior authorities
by considering them as a waste of time. But sometimes neglecting these dynamics
can lead to the severe consequences.
INCREASE PERFORMANCE OF EMPLOYEES BY REWARDING
Firms use this dynamic source to achieve what they are
looking for by providing perks and benefits to the employees of the company.
Because rewarding is one of the tools to get the business goals set by the
company. Increase in the satisfaction of the employees can directly affect the
performance, efficiency and production rate which may help the organization in
achieving the set targets increasing satisfaction can ultimately direct
organization towards achieving the long-term targets of the company. To
increase the satisfaction of the employee’s organization should have plans to
reward them financially or by giving promotions or any other means. Every company
needs a reward system for its employees. There should be a system that could
not only monitor the performance of the employee but also the good or bad behavior
so that he could be rewarded on the basis of it. The system should not be
complex enough that it creates a sense of hopelessness among the employees. If
the system is embracing than the motivation level of the employees will not
increase and it will directly impact the objectives of the company. In such case
the employees will not deliver and give their best of what they posses. Supply
chain management can help in achieving the goals of the firm by rewarding the
employees.
Company should try to retain the employees how are not
performing well and try to motivate them so that they could perform well in the
upcoming events. Organizations normally have a very low tolerance level for the
fewer performers but studies suggest that the attitude of these underperformers
is not due to lack of talent but due to the behavior of the managers. Therefore,
by applying the trends in supply chain if we able to change the behavior of
these managers and implement good management dynamics than these underperformers
can perform better. Another issue that can be described and considered as the
problem due to which they are categorized as low performer is due to excess
work burden on these employees. Due to overload they cannot perform according
to their abilities and are not able to give full strength to the organization.
If they could be managed well contribute to the main target of the company and
they can be a part of it.
COLLECTING, ANALYZING AND SHARING INFORMATION
The transformation of date into information and then the
use of that extracted information also play an important part and can be turned
out to be really an important thing. In the present world, accessing, measuring
and sharing information is necessary within the performance management process.
All organizations that are known to be the best whether they are private or
public need and are interested in collection and analysis of information
related to the business. Flow and dissemination of information also play a
crucial part in up bring of any organization. Information plays its role in
ever part of the organization from planning, monitoring, finding solutions etc.
it helps the business to flourish.
The purpose of collecting and analyzing the data is to check
what has been achieved. What are the results? Are the results according to the
desire or not? Does the organization accomplish in attaining the targets which
were set at the time of start of the business? Are the targets practically achievable
or not? By analyzing this information, future strategies and decisions are
made. Strategies are defined according to the results they are also set by
analyzing the past history. The data is also collected in order to identify the
performance of the employees. Are the employees managing the work effectively
and if not than what should be done so that they can manage work with ease?
Firms can perform better if these types of trends are adopted by the them. It
will help the organization to achieve its task with continuity and
consistently.
TRAINING TO KNOWLEDGE BASED LEARNING
If we learn more knowledge
so we can do more things and more stuff. It is understood and true that by
applying supply chain management principles we will be able to achieve complex
problem solving of problems. Our training should be done on the basis of the
knowledge we have. We should have
proper knowledge of the stuff in order to make the training and implementing
effective. Well, according to the author these complex problems can easily be
solved if the training is on knowledge based learning. We apply good and
positive management skills in any sector and can get the results near to the
wish but all this will be effective if the training is based on knowledge. Good
management can be implemented anywhere around the world to get good results.
The facilitation that any organization is providing can be better if good
management skills are implied anywhere. Everyone can get the benefit if they
apply good and positive management skills which they learn during the training
sessions. In today’s world, the success of the organizations is based
significantly on management practices and intellectual capabilities than in its
physical assets. Highly motivated and creative organizations often perform well
than the organizations with more physical power or financial resources. Without
these creative management skills the organizations cannot perform well anywhere
around the world. Complex problem solving skills can lead to a better world. It
is the new emerging studies of today’s world. At present, great management
skills are needed badly in order to identify the main problem and then solving
that problem. The leading management consultants consume a huge amount of
resources for the recruiting purpose. Top graduates of the leading business
schools are screened and monitored in order to find the right type of person
the company wants to solve the complex problems so that they could achieve the
targets or the goals set. For example, Microsoft interviews hundreds of highly
recommended people for each key software designer it hires. Poorly managed
organizations cannot perform well due to the lack of problem solving skills.
Problems are small but no one looks or identifies it and hence the result comes
out in terms of loss. In order to minimize this loss and boost efficiency good
management skills are required in both personal and professional life. Game
changing trends in supply chain can be implemented to achieve the results
according to the desire.
GAME CHANGING TRENDS IN SUPPLY CHAIN NECESSARY FOR MANAGING FIRMS
Game changing trends in
supply chain management are necessary to get the desired results that are
aligned with the goals of the company. Good management skills and practices can
participate in the succession of any organization and it plays an important
part as well. It not only benefits the organization in the short term period
but in the long run, these good management skills can contribute a lot in managing
and getting positive results from it. The results that are desired and firms want
to achieve during the discharge of the duties. By extensive research it is
proved that the poor skills are creating deficiencies and companies have to
bear heavy losses in terms of financial loss or losing the customer. Therefore,
by adopting these practices organizations can and will perform better. There
are different types of skills with different dynamics that the firm can develop,
adopt and implement in various sectors to get positive results. These trends
which are mentioned above are necessary for the firm to carry out business in
today’s world which is changing at a great pace. Supply chain can contribute a
lot in the succession of the organization.
CONCLUSION
To conclude the discussion &
to draw a sketch from the mentioned subject we could say that game changing
trends in supply chain management are important part of today’s world. Every organization
needs good management in order to cope the problems that arise during the
discharge of the duties. Without efficient and effective management skills it
is nearly impossible to carry out operations with good efficiency and perfectly.
These game changing trends in supply chain can act and create a positive impact
on the firm by achieving the targets or getting close to them. Every
organization needs these skills in the fast moving world. In today’s global
village and great competition it’s nearly impossible to do business without
excellent management skills. Customers, employees, stack holders etc everyone
demands satisfaction. Small negligence’s can lead to disasters end of the
organization. Competitors will take the hold and carry the position.
Management is also important
to achieve long term goals by completing the small ones. Small targets are
given and if they are achieved by managing them efficiently they will
ultimately lead to the achievement of long term goals of the organization.
Increase in the productivity can contribute towards the main goals set by the
company. And the goal of increased productivity comes with better management. Performance
data collection and analysis can also lead to increase in the productivity.
The world needs managerial
skills. There should be more emphasis on this subject as it is the emerging
field of today’s world. Every organization whether it is a manufacturing
business or an education or health facility center, everyone needs good
management. Without it, achievement of the targets set by the organizations is
impossible sometimes.
Comments
Post a Comment