- 1 How do you make a supply chain responsive?
- 2 What is responsive supply chain?
- 3 What is right supply chain for your product?
- 4 For what type of products responsive supply chain should be adopted?
- 5 What is the difference between efficient supply chains and responsive supply chains?
- 6 Can supply chain be both efficient and responsive?
- 7 Why is responsiveness important in supply chain?
- 8 What is responsiveness strategy?
- 9 What is an efficient supply chain?
- 10 What is the meaning of bullwhip effect?
- 11 What is Triple A supply chain?
- 12 What is the difference between functional and innovative products?
- 13 What is the main aim of SCM?
- 14 What should the supply chain be functional efficient or innovative responsive?
How do you make a supply chain responsive?
4 Ways to Develop a Demand-Responsive Supply Chain
- Utilize ‘Range Forecasting’
- Establish Flexible Supplier Contracts.
- Implement Strategic Multi-Sourcing.
- Automate Supply Capacity Visibility and Analysis.
What is responsive supply chain?
A responsive supply chain is one that is sensitive to meeting customer requirements. For example, an online computer hardware assembler may update their product range every 90 days, when the new models, which may have increased performance, will be at lower prices than the models they replaced.
What is right supply chain for your product?
Decide whether your current supply chain is efficient or responsive. Your chain is efficient if you satisfy predictable demand efficiently at the lowest possible cost, turn over inventory frequently, and select suppliers based on cost and quality.
For what type of products responsive supply chain should be adopted?
Since the number of customers interested in those products is relatively low, they are produced in low volumes. Therefore, niche products require totally responsive supply chains. By adopting a dual strategy companies can exploit the cost advantage of efficient resources while responding to market fluctuations.
What is the difference between efficient supply chains and responsive supply chains?
Efficient supply chains are able to deliver products at a low cost, while responsive supply chains are capable of responding quickly to changing con- sumer needs.
Can supply chain be both efficient and responsive?
An effectively managed cash supply chain must be efficient and responsive at the same time. In contrast, a supply chain can be considered to be efficient if the focus is on cost reduction and no resources are wasted on non-value added activities.
Why is responsiveness important in supply chain?
Why is supply chain responsiveness so important? Because it enables manufacturers to: Reduce risk (better supplier performance keeps costs and schedules in-line; underperforming suppliers can be identified and managed).
What is responsiveness strategy?
Responsive strategy or MVBS is a process to achieve positive change by shifting current state of things and the perception of the audience, employees or competition (a perceiver) towards strategically favorable for the business, which enables the company smoothly execute their policy.
What is an efficient supply chain?
An efficient supply chain is one that can make the most optimum use of its resources including financial, human, technological or physical. This results in reducing operational costs for materials and packaging and reduces time wastage.
What is the meaning of bullwhip effect?
The bullwhip effect (also known as the Forrester effect) is defined as the demand distortion that travels upstream in the supply chain from the retailer through to the wholesaler and manufacturer due to the variance of orders which may be larger than that of sales.
What is Triple A supply chain?
Agility, adaptability, and alignment (AAA) have long been key factors in the success of world-class supply chains.
What is the difference between functional and innovative products?
Functional products are products that people buy in wide range of retail outlets, and those products have more stable and predictable demand, as well as long life cycles. In contrast, innovative products have more fluctuated and unpredictable demand, and they have much shorter life cycle.
What is the main aim of SCM?
Supply chain management is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace.
What should the supply chain be functional efficient or innovative responsive?
For functional products, Fisher (1997) means that an efficient supply chain is required, while innovative products require a responsive supply chain. The main purpose of an efficient supply chain is to supply a predictable demand as efficiently and cost effectively as possible.