Assignment Task 1: Strategic Supply Chain
Management and Logistics
LO1. Understand the relationship between supply chain management (SCM) and
organizational business objectives
1.1 What are the organizational objectives of Meditech Surgicals? Explain the
importance of an effective supply chain management in achieving the organizational
objectives at Meditech Surgicals. (Assessment Criteria 1.1: Explain the importance
of effective supply chain management in achieving organizational objectives)
The organizational objectives of Meditech Surgicals are:
- To be a leader in the endoscopic surgical instrument market.
- To deliver cost effective and innovative endoscopy surgical instruments to
hospitals on time - To provide the best customer service to domestic and international customers
Supply chain management plays an important role in achieving the organizational
objectives. It aims to link all the supply chain agents to jointly cooperate within the firm
as a way to maximize productivity in the supply chain and deliver the most benefits to all
related parties (Finch 2006). It helps organization to stay competitive in the market by
outsourcing its non core functions and focusing on the core competencies. It allows
organizations to rejig their entire operations and reframe it so that they operate at lower
costs and maximize profit margins. For being a market leader, an organization must re-
look the whole process and determine which processes can be downsized or upscaled for
maximum competitive advantage. The main reason and objective of SCM is to provide a
strategic weapon to build up and enhance sustainable competitive advantage by cost
reduction without compromising customer satisfaction (Mentzer et al. 2001). When the
organization reduces cost and maximizes value, products and processes become more
innovative. This results in effective mass customization and improves product life cycles.
Thus, the organization is powered well to cater to varied market segments and customer
choices.
1.2 What are the prime business functions of Meditech Surgicals? Explain the link
between supply chain management and business functions in Meditech Surgicals.
(Assessment Criteria 1.2: Explain the link between supply chain management and
business functions in an organization)
The prime business functions of Meditech Surgicals are:
- Forecast demands and procure raw materials accordingly
- Produce high end and innovative endoscopical surgical equiments
- Deliver and distribute the equipments in a timely fashion and maintain
sufficient inventory - Enhance profitability by catering to varied demands
The supply chain constitutes of the total process ranging from obtaining raw materials
through all suppliers to delivering the end product to the consumer. Supply Chain is the
total chain of exchange from original source of raw material, through various firms
involved in extracting and processing raw materials, manufacturing, assembling,
distributing, and retailing to end customers (Saunders, 1997). Each step of the process
adds value to the end product thereby making it a value chain. Thus it touches upon each
of the business function by exchanging value addition. Business functions which are
closely linked to supply chain management are: demand forecasting, production planning,
raw material procurement, production of finished goods, storage and distribution,
transportation, and order management. With an effective SCM, the organization will
always have the right inventory holding and this eliminates the need for safety stock.
Right from procurement of raw materials from suppliers to delivering finished goods to
end consumer, an effective Supply chain management makes all the business functions
efficient and cost effective.
1.3 Discuss the key drivers for achieving an integrated supply chain strategy in
Meditech Surgicals? (Assessment Criteria 1.3: Discuss the key drivers for achieving
an integrated supply chain strategy in an organization)
Supply Chain Management is an integrating philosophy to manage the total flow of a
distribution channel from supplier to ultimate customer (Ellrarn & Cooper, 1993). The
key drivers for achieving an integrated supply chain strategy in Meditech surgicals are:
An efficient customer service management process: Customer service
management is vital to the success of any organization since it acts as an
important source of customer information and satisfaction. On the other hand,
the customer also gets accurate information on new products and their
availability through interactiion with the production and distribution
functions.
- Well co-ordinated procurement: Demand forecasting reports are shared
with suppliers to assist the manufacturing process and new product
development. This results in a reduced product development cycles and
effective inventory management. With the advent of technology, e commerce
interactive portals can help suppliers stay updated on the upcoming demands. - Innovative product development and customization: Integration of
suppliers and customers into this process is paramount. This reduces
production cycle times and the products reach faster to the market. This gives
a lot of time for effective customization of the products to meet the varied
customer needs. - Manufacturing and distribution: A flexible and adaptive manufacturing
process is needed to meet the ever changing demands for quantities and mass
customizations. When the manufacturing cycles are shortened, products are
delivered faster and lead to better customer satisfaction. The finished products
reach the distributors in a shorter period of time and hence they too don’t find
it necessary to do panic ordering. - Warehousing: The concept of decentralized warehousing assists in timely
distribution by reducing wait times and transportation delays. However, it is
imperial to enhance communications between distributors, regional
warehouses and the central warehouse so that demand forecasting and
delivery are accurate and there are no cases of inflated demands which cause
unnecessary load on production processes.
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