Global Supply Chain

Global Supply Chain

“Supply Chain Management” plays a vital role in the success of the organization’s future and reputation. Today we will be taking a more in-depth and precise explanation of the “vital roles” that keep the “supply chain” operational. This consists of three “top-managerial personnel.” This personnel is part of a “cross-functional group” of “Marketing, Human Resources, and Financial.” Without these three specialized individual departments working towards a “common goal.” Then success is futile. The knowledge needed to evade this is found within our “group.” For instance, marketing manages the “competitive edge.” “Human Resource Management” implements training, incentives, and organizational policies and procedures. “Financial management” ensures the “needs” of both “human and material” resources are met.

Below is a chart to start the “definition and investigation” of the “organization’s global operations and supply chain management group.”

Business Function Responsibilities Analysis

 A competitive advantage is a characteristic that helps in boosting its competitors. This enables a firm to make greater profitability than its contenders and information gathering for its shareholders. A competitive advantage should be difficult, if not unthinkable, to imitate. As a result, if replicated or emulated, it has no positive effect on performance.

A company creates a competitive advantage by offering better overall value to the customers than competing companies. During the organization, the business person and her executive team create promotional directing and managing plans to optimize the revenues generated by this advantage (Hidayatullah et al.,2019). Long-term business success necessitates developing a marketing market edge that will last notwithstanding existing competition or the intensity of competition enhancing their products.

A company owner must be acutely aware of his customers’ requirements. His advertising plan aims to determine the groups of customers who will benefit even more from the goods & services he provides. These are the people who tend to become his clients. The marketing planning process assists in narrowing down the target consumers to those most motivated to purchase. This enables the company to focus its limited marketing resources on reaching out to these critical customer segments rather than wasting resources to sell to consumers who do not see the commodity as something they urgently require (Shafiee, 2021).

The company’s management recognizes new markets that the company could enter and gain ground in before rival companies are doing in the marketing plan – known as the “first to market” benefit. Organizations that seem exceptionally competent at strategic marketing establish the ability to identify international economies due to the impact of population shifts, changing customer tastes, or technological developments that could be transformed into new products (Shafiee, 2021). Successful marketing planning necessitates identifying the most competitive benefits among several available.

Internal marketing connects promise makers and guarantees keepers. Employees educated and involved with the brand guidelines and overall goals will encourage marketing on all levels. This can assume the shape of supplying access to the necessary material or enabling other methods of information sharing within the organization. In addition, internal marketing creates a positive relationship with the product or service that workers sell, which is essential in terms of how deeply involved they seem with their work (Yeum et al.,2020). If everyone in the corporation is inspired to sell a product they work with, its bottom line will benefit.

While supply chains have long been essential in many companies, it has only been in the last few decades that supply chain management (SCM) has been recognized as a distinct strategic department that can be enhanced to profit companies. First, the H.R. team at the workplace is in charge of getting the right individuals for the office. This means individuals are also in charge of recruiting supply chain management personnel. Secondly, the H.R. team has to find unpaid interns, independent contractors, and other external stakeholders associated with the supply chain management process (Shafiee, 2021). Finally, to realize this, the human resources manager should ensure that sufficient workers are decided to hire, as employing the cheapest worker is not the way to address the issue.

Finally, every society needs individuals who can provide high-quality service to the system. To guarantee that the worker will indeed be intelligent to provide high work, the H.R. needs to analyze the distribution network skills of the workers. The supply chain is constantly evolving, but the only thing holding it back is a lack of qualified specialists who can handle the supply chain from beginning to end (Papadas et al.,2019). As a result, the human resource management organization may be asked to find individuals capable of accessing and utilizing technology in this field.

Consider that a decade ago, the innovation used for supply chain management was a framework comparable to it. Today, we live in a different reality, and supply chain management is managed through advanced equipment that employs advanced capabilities such as techniques or deep learning (Yeum et al.,2020). These techniques assist the supply chain manager comprehend the prerequisites regarding product lines, connectivity territories, distributors, factories, business trends, etc.

Recognizing that a company’s human resource management department is specifically related to the supply chain is critical. When an institution’s supply chain adopts cloud monitoring or other application components, it is critical to train the employees. Something that is entirely in the hands of human resources (Papadas et al.,2019). Before making any changes to the supply chain, H.R. guarantees that the current employees are very well to handle the change.

Supply chain management may be in various company departments, but it is still a component of human resource practices. The H.R. team is concerned with every aspect of the business. This is due to the H.R. team’s responsibility for hiring these specialists and ensuring their training, innovation, and satisfaction (Moravcikova et al.,2017). As a result, H.R. is deeply engaged in supply chain management.

Traditional supply chain management (SCM) focuses on reducing waste in the supply chain. Savings can be realized by integrating the external movement of materials and evidence sharing along the chain. However, significant cost savings can be obtained through external controller capital inflows regarding the physical transportation of materials (Moravcikova et al.,2017). Furthermore, cost savings from reduced stock levels can effortlessly offset the costs of financing the existing inventory. Inventory carrying costs include interest payments and costs related to taking risk exposures on sale, supporting trade credit, and obtaining insurance.

Conclusions

 HRM has always been considered a strategy for managing a healthy work environment. Its implications on other business operations have been revealed through studies. SCM can be defined as a management principle that aims to manage the processes that occur along the supply chain. This definition implies a far too narrow view, focusing only on maximizing physical goods flows of information flow. An integrated and comprehensive concept cannot, by description, exclude financial activities from the scope of SCM. Optimizing finance flows has the potential to deliver previously untapped cost savings. The cash-to-cash process of any supply chain determines its length. Since investors want a good return on their investment, and the supply chain is essentially finance-related. Cash is converted into goods, which are then sold to generate more cash.

References

 Hidayatullah, S., Firdiansjah, A., Patalo, R. G., & Waris, A. (2019). The effect of entrepreneurial marketing and competitive advantage on marketing performance. International Journal of Scientific and Technology Research, 8(1), 297-1301

Hill, C.W. L. (2021). Global Business Today (12th Edition). McGraw-Hill Higher Education (U.S.). https://aiu.vitalsource.com/books/9781264209620

Linton, I. (2019, January 25). Role of marketing in supply chain management. Bizfluent. https://bizfluent.com/info-8013303-role-marketing-supply-chain-management.html

Moravcikova, D., Krizanova, A., Kliestikova, J., & Rypakova, M. (2017). Green Marketing as the Source of the Competitive Advantage of the Business. Sustainability, 9(12), 2218.

MUSE My Unique Student Experience (2021) Operations Management [American Intercontinental University] Retrieved from https://class.aiu-online.com/_layouts/MUSEViewer/Asset.aspxMID=21043177&aid=21043192

Papadas, K. K., Avlonitis, G. J., Carrigan, M., & Piha, L. (2019). The interplay of strategic and internal green marketing orientation on competitive advantage. Journal of Business Research, 104, 632-643.

Shafiee, M. M. (2021). Knowledge-based marketing and competitive advantage: developing new scales using a mixed-method approach. Journal of Modelling in Management.

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You are analyzing the supply chain. A thriving global supply chain operation requires various business functions, including marketing, human resources (H.R.), and finance. Each position contributes individually and through collaborating across functions to execute the processes necessary to operate the supply chain.

Global Supply Chain

Use this template to complete the assignment: Unit 1 Template.

For this assignment, complete the following:

• The introduction should introduce the reader to marketing, H.R., and finance in a global supply chain.
• Write an analysis comparing each global supply chain function and how all three work together to solve operational problems. Consider the following:
  • How marketing strengthens the company’s competitive position and builds internal and external relationships that support operational efficiency
  • How H.R. is directly or indirectly related to the supply chain
  • Why integrating financial services into supply chain management is about finding new opportunities for cost reductions
• The conclusion should summarize your key points.

Your analysis should be 3 pages in length. Be sure to properly cite your sources using APA. Include your references and in-text citations.

Submitting your assignment in APA format means, at a minimum, you will need the following:

• Title page: Remember the running head. The title should be in all capitals.
• Length: 3 pages minimum
• Body: This begins on the page following the title page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12pt. Times Roman or 12-pt. Courier in regular black type. Do not use colour, bold type, or italics except as required for APA-level headings and references. The deliverable length of the body of your paper for this assignment is 3 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
• Reference page: References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.