Chapter Review 1-3 Principles of Supply Chain Management

Chapter Review 1-3 Principles of Supply Chain Management, 3ed Wisner, Leong, Tan 2012 Chapter Review 1-3 Chapter One: Introduction To Supply Chain Management A Supply Chain is the steps necessary for a manufacturer to procure materials, build a product, and transport the product to consumers. The consumers buy the products based on a combination of cost, quality, availability, maintainability and reputation factors. They hope these products will live up to their needs and expectations. An example of a supply chain that I was involved in while serving in the Air Force would be when I worked in the Supply Squadron. One of our customers, the jet engine maintenance shop, would need a part to repair and F101 engine for use on a†¦show more content†¦This is also likely to lower raw material inventory and total assets. E-Procurement brought many benefits to companies. It has proven to be a time saver and cost effective. It is more accurate as the information is only entered once instead of twice. Before the users had to enter the information and the buyer had to reenter the inf ormation creating another error point in the process. E-procurement is more flexible as it can be used without the restrictions of location or time of day. Status of orders can be looked at without having to check paper trails. There are different reasons why a firm may use a single supplier instead of favoring multiple suppliers. Using a single supplier gives a firm the chance to build a stronger relationship with the supplier. Costs would be lower due to larger purchases keeping the cost per unit down and transportation would be cheaper as the firm can take advantage of full truckloads. Single sourcing would also make sense if the firm’s requirements are too small. It would not be worthwhile to split the order among multiple suppliers. There is a disadvantage with sole sourcing as well. If the purchase was for a proprietary product or process and the supplier holds the patents to them, the firm has no choice but to buy from them. Multiple sourcing is advantageous fo r many reasons. 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