Write your personal statements on number one and two and separate your answer

| November 24, 2016

1) Write your personal statements on number one and two and separate your answer and ask include direct questions on each essay 1 and 2 are related.

ESSAY ONE

Financial Decisions

Product information and finance synchronization can be achieved by linking the financial supply chain with the physical supply chain. An example of this is to wait to pay the supplier when the customer pays for the product, this process assists in reducing the cash-to-cash cycle time (Poirier, C., Quinn, F., & Swink, M., 2009) Having the Chief Financial Officer (CFO) involved in the actual supply chain process and connected costs, will give depth to their understanding and assist them in finding ways to prioritize requirements and streamline the process. The CFO has a holistic view of the entire operation and has the ability to recognize where untapped value may reside (Poirier, C., Quinn, F., & Swink, M., 2009).

Conducting a financial analysis on the supply chain allows for enduring the best return on investment for the company and the customer. One example is evaluating the required amount of warehouse space. If the firm is paying a hundred thousand dollars a month for a warehouse but only utilizing half of the space, Researching for a smaller warehouse could save thousands of wasted dollars a month. Capturing vital business intelligence such as information, product and cash flow across the supply chain, are important decision making products to the CFO (Poirier, C., Quinn, F., & Swink, M., 2009). Reduction of costs and enhancing revenues are the two main goals of a supply chain manager (Poirer, et al., 2009).

Knowledge sharing across the supply chain financial and physical is a vital trait in a collaborative process that enhances the company’s ability to evaluate the entire process (Poirer, et al., 2009). This type of collaborative effort allows the CFO to discover gaps in functions through benchmarking (Poirer, et al., 2009).

In my personal experience working in the Weapons System Management Center, for the Marine Corps, we realized there were several sections across the Logistics command conducting the same function of data collection in the same general area. In an effort to streamline our process, we were able to share information from one center to another which saved time and manpower and increased productivity across the center. This realization came only after years of the same redundant capability had been used with no checks and balances in the process. The management believed the old system worked because the required results were achieved, not realizing the loss in hours.

In your experience do you believe change practices in a firm based on the success of another company and try to mimic there process or conduct benchmark analysis of your own process using balanced scorecard capabilities and measurement dashboards?

Reference

Poirier, C., Quinn, F., & Swink, M. (2009). Diagnosing Greatness: Ten Traits of the Best Supply

ESSAY TWO

Process management in the business. Have you ever seen a team attempting to push a rope uphill? The outcome was probably not as nice as they had hoped for this task. However, the task probably could have been accomplished had they put a business process in place prior to the attempt. This same principle applies to supply chain management and their business processes. A progression plan must be in place prior to moving up the maturity model (Poirier, Quinn, & Swink, 2010). By doing so you can assure yourself that you have mastered the tasks necessary to move on. The latest buzz to cross the market is Lean Six Sigma. A number of companies have raced to adopt the principles. Numerous staff members have been sent away for training and some companies have contracted with industry experts to come into their facilities to train staff. It doesn’t matter what training you provide if you still use the same primitive supply models from the sixties. For any business process management, one must adopt an attitude that the process can work but once again you will need the buy-in from other departments and senior leadership.

The biggest reason that most models fail in the supply chain arena is due to our way of thinking. If we continue to go about business with a sense that things will eventually change then you will be correct at some point. Yes, things will change but will probably be for the worst. Our failures are due to us limiting ourselves to the four walls which surround us. I hear leaders saying that we need to think outside the box. I once heard a reply to that stating that maybe we should do away with the box so that we can always be outside the box. We must invest in new technology such as RFID. Each day of hear of companies putting RFID technology into their supply chain because customers want to know where their product is at any given time. Those companies who fail to adopt a business process model are losing business each day. With technology, the average consumer can now use their smartphone to check status at any given time. Therefore our models must adapt to the changes. By no means am I advocating that Six Sigma or any model is the be all do all but I am saying that the more information and data that your supply chain can produce, the better off you are in the long run.

Business process management (BPM) can put you on the right road to success and can be a way of helping your firm save money in a number of areas. Imagine a world where the entire company is connected such as supply chain being able to talk with finance and bills are paid as soon as the warehouse staff receive material. Instead of waiting on a paper receipt, through process management we can delete all the steps and go straight to accounts payable. The same could go for issues. BPM can increase efficiencies and reduce costs (Schiff, 2012). This along can increase productivity and reduce labor costs at the same time. Bottom line is that it will be nice if we could get a lean process working for the firm as a whole instead of one entity of a company attempting to do this by itself.

Poirier, C. C., Quinn, F. J., & Swink, M. L. (2010). Diagnosing Greatness: Ten Traits of the Best Supply Chain. Boston MA: J. Ross Publishing.

Schiff, J. (2012). Six Ways BPM Can ImproveSupply Chain management.

Get a 30 % discount on an order above $ 50
Use the following coupon code:
COCONUT
Order your essay today and save 30% with the discount code: COCONUTOrder Now
Positive SSL