4 Sep 2022

46

Supply Chain Financial Management | SCM |

Format: APA

Academic level: College

Paper type: Assignment

Words: 261

Pages: 1

Downloads: 0

Although supply chain professionals and corporate executives have different ideologies on matters pertaining financial results, corporate level indicators, strategy, non-profit indicators and tactical operations, both types of management should be on the same page and they should understand what is good for both of them. 

Supply chain professionals and corporate executives should understand that they share several characteristics and that both have linked interdependent activities and at the end of the day, the most important thing is the conversion of inputs into outputs regardless of the channel employed. Linking the two would mean making them understand that both managements have beginning and ends. More so, there exists presence of boundaries that have a reasonable precision definition for minimal overlap. Although supply chain professionals and corporate executives have different outputs, they should have mutual support and alignment for effective function. For example, the supply chain professionals demand a link between logistics and forecasting of the company in the same way that successful development of new product depend on the well laid out planning and design strategy. 

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To eliminate inefficiencies among supply chain professionals and corporate executives, I would suggest redesigning of work processes since both obliquely equate improvement of the process. I would also suggest the use of similar tools such as common rules of thumb, data modelling and process mapping for the sake of improvement of opportunities. When doing this, flowcharts are important in showing all steps in a process. To make the process more efficient, it would be important to checkpoints and multiple approvals to smooth the hand-offs among various departments, reduce waiting time and group related responsibilities and tasks and by these ways, it would be possible to bridge supply chain professionals and corporate executives. 

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StudyBounty. (2023, September 16). Supply Chain Financial Management | SCM | .
https://studybounty.com/supply-chain-financial-management-scm-assignment

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