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Friday, September 11, 2009
7 PRINCIPLES OF SUPPY CHAIN MANAGEMENT
7 PRINCIPLES OF SUPPLY CHAIN MANAGEMENT
PRINCIPLE 1. : SEGMENT CORRECTLY
-SEGMENT CUSTOMER BASED ON SERVICE NEED OF DISTINCT GROUPS.
-ADAPT THE SUPPLY CHAIN TO SERVE THESE SEGMENTS PROFITABLY.
-STRIKE BALANCE BETWEEN SERVICE AND PROFITABLITY.
PRINCIPLE 2. : CUSTOMIZE LOGISTICS
-USE CUSTOMIZE LOGISTICS AS PER YOUR NEED.
PRINCIPLE 3. : LISTEN TO MARKET SIGNALS
-ALIGN DEMAND PLANNING AND MARKET TRENDS.
-NO FORCASTING IN SILOS.
PRINCIPLE 4 : POSTPONEMENT
-DIFFERENTIATE PRODUCT CLOSER TO CUSTOMER.
-SPEED UP CONVERSION ACROSS SUPPLY CHAIN.
-PRINCIPLE OF POSTPONEMENT : DELAYING PRODUCT DIFFERENTATION TILL THE LAST MINUTE.
PRINCIPLE 5 : SOURCE STRATEGICALLY
-REDUCE TOTAL COST OF OWNING MATERIALS & SERVICES.
-TREAT SUPPLIERS AS PARTENERS, REWARD EVERYONE WHO CONTRIBUTE TO PROFITABLITY.
-HAVE A SOUND KNOWLEDGE OF ALL YOUR COSTS.
PRINCIPLE 6 : TECHNOLOGY STRATEGY
-DEVELOPE A TECHNOLOGY STARTEGY THAT SUPPORTS MULTIPLE LEVELS OF DECISION MAKING.
-DEVELOPE ERP DATA SYSTEM
PRINCIPLE 7 : MEASURE PERFORMANCE
-MEASURE THE PERFORMANCE OF YOUR ORGANIZATION AND FIND OUT THE LACKS AND DO WORK ON THAT TO IMPROVE THEM.
(BASED ON THE PRESENTATION MADE BY DR. CEDWYN FERNANDES, Associate Professor in Business Studies and Campus Coordinator of the Master Business Administration Programme MIDDLESEX UNIVERSITY DUBAI, AT ICFAI BUSINESS SCHOOL, CHANDIAGRH, INDIAN ON 1OTH SEPTEMBER,2009)
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