The company has faced several issues in its product range which is offered by the Hugo Boss to its customers. Moreover, the management team realized that they need to take further actions which improve the availability of the product as well as improves the retail industry process.
What is Logistics and Supply Chain Management? What is the definition of Logistics and Supply Chain Management? Learn more from the list below, 1. Also, traditional logistics focuses its attention on activities such as procurement, distribution, maintenance, and inventory management.
Coyle et al In the past, various tasks were under different departments, but now they are under the same department and report to the same head as below, 3.
What is Logistics Management? In contrast, Outbound Logistics refers to movement of finished goods from your company to customers" To illustrate this term, we make a small graphic as below, As you can see, purchasing and warehouse function communicates with suppliers and sometimes called "supplier facing function".
Production planning and inventory control function is the center point of this chart. Customer service and transport function communicates with customers and sometimes called "customer-facing functions. What are the Transport and Logistics? What is International Logistics? These are one of the most ambiguous groups of terms out there.
They are used interchangeably and often referred to international production and transportation activities. However, the most concise definition is as below, "International Logistics focuses on how to manage and control overseas activities effectively as a single business unit.
The result was the inception of another concept. The 4PL is the concept proposed by Accenture Ltd in and it was defined as below, "Fourth Party Logistics or 4PL refers to a party who works on behalf of the client to do contract negotiations and management of performance of 3PL providers, including the design of the whole supply chain network and control of day-to-day operations" You may wonder if a 4PL provider is really needed.
What is Supply Chain? What is Supply Chain Management? Each researcher defines supply chain management differently. However, we would like to provide the simple definition as below, "Supply Chain Management SCM refers to the coordination of production, inventory, location, and transportation among the participants in a supply chain to achieve the best mix of responsiveness and efficiency for the market being served" -Michael Hugos What is Supply Chain Network?
Many companies have the department that controls various activities within the supply chain. So the people are led to believe that SCM is a "function" which it's not. It is actually a "network" consists of many players as below, A generic supply chain structure is as simple as Supplier, Manufacturer, Wholesaler and Retailer it's more complex in the real world but a simple illustration serves the purpose.
The word "management" can be explained briefly as "planning, implementing, controlling". Supply Chain Management is then the planning, implementing and controlling the networks.
What is Information Sharing? Another important attribute of supply chain management is the flow of material, information, and finance money.
Even though there are 3 types of flow, the most important one is information flow aka information sharing. Let's see the example of this through the simplified version of the bullwhip effect as below, When demand data is not shared, each player in the same supply chain must make some sort of speculation.
According to the above graphic, the retailer has a demand for units, but each player tends to keep stock more and more at every step of the way.
This results in higher costs for everyone in the same supply chain. When information is shared from retailer down to supplier, everyone doesn't have to keep stock that much.
The result is a lower cost for everyone. What is Supply Chain Coordination? Information sharing requires a certain degree of "coordination" it's also referred to as collaboration or integration in scholarly articles.
Do you wonder when people started working together as a network?
Incompanies in the apparel business worked together to reduce overall lead-time. Incompanies in the automotive industry used Electronic Data Interchange to share information. So, working as a "chain" is the real world practice.
What are Conflicting Objectives? Working as a network requires the same objective, but this is often not the case even with someone in the same company. For example, purchasing people always place the orders to the cheapest vendors with a very long lead-time but production people need material more quickly.five subsidiary lines – Hugo Boss Black, Boss Green, Boss Orange, and Boss Selection further segmented by replenishment type The supply chain operations reference model (SCOR) is a management tool used to address, improve, and communicate supply chain management decisions within a company and with suppliers and customers of a .
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