Supply Chain Management
The most essential concepts of Project Supply Chain Management are the management of the flow of goods and services and includes the processes that transform raw materials into final products. It involves actively streamlining a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace. Kloppenborg, et al, (2019).
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There are nine knowledge areas and requirements related to implementing supply-chain improvements:
Project Integration Management
Follows a strategy that fits with other projects & programs, including individual tasks, tools, & methodology for the completion of the project. PIM also controls the cost detail; staff required mitigation measures, responses, process tracking and the methods of communication between the stakeholders. Besides this, PIM also focuses on the Work breakdown structure (WBS), risk, constraints, issues faced or changes requiring decisions or contingencies to deliver the quality project within the scheduled time & milestones. Kloppenborg, et al, (2019).
Project Scope Management
Works parallel to market demand, technology advancement, environmental compliance, or social needs. Where there is a demand for a new product on a customer’s request, a business is required to meet the needs, which are new and upgraded according to the latest Thus, PSM manages all the legal requirements, civil infrastructure or fund-raising necessary to increase the business revenues & profits or improve productivity. Kloppenborg, et al, (2019).
Project Time Management
Although Project Management has introduced best practices & techniques to enrich the knowledge areas of SCM, thus time management holds its unique position. For the supply-chain projects, time must be added into the account –coordination across company boundaries – as projects can sink out of poor estimation. Also, PTM follows a pattern for SCM projects and any other types of projects: –
- Define Activities.
- Sequence Activities.
- Estimate Activity Resources. Estimate Activity Duration. Develop Schedule.
- Control Schedule.
Project Cost Management
This management system is non-traditional for cost management in a supply-chain project by providing long-term contracting, commitment to suppliers or customers, activity-based cost tracking, fixed prices for certain products, and balancing up-front partner capital investments with future profit splits. Moreover, PCM exercises a method for handling new product development or services contribution, joint investment in an information exchange system (IES) to run the supply chain, incentives for exceeding plans, and penalties for departing from practices that add costs. Kloppenborg, et al, (2019).
Project Quality Management
The supply chain outputs are mostly service and result-based, not physical products. Thus, the quality management of SCM projects is not necessarily easy. Plan quality incorporates standards and plans relevant to the project for application. Planning decisions for forecast and inventory control must be demand-driven rather than forecast-driven to measure the progress towards the potential.
Performance quality assurance measures the quality levels of the execution process to check the adequacy of the plan and the performance quality control of the project management outcomes, such as cost and schedule performance.
Project Human Resources Management
With increasingly new technologies, teams work at a distance, a supply chain project that tends to spread worldwide. Multi-company supply chain efforts require shared resources and their respective team. The major challenge occurs when there is a need to integrate different mindsets into an effective team with their respective roles and responsibility. Thus, a supply chain project approach uses the Responsible, Accountable, Consulted, and Informed categories. Training is another tool used for team building. Similarly, various tools are cited for 360-degree evaluation of the project at all levels, from the creation of issue logs to the team’s agenda and facilitation to address teams’ conflicts. Kloppenborg, et al, (2019).
Project Procurement Management
Supply chain efforts would need a partnership with multi-company to have new ways of thinking for financial stability. Procurement responsibility in supply chain projects resides on a single party or may be shared, requiring collaboration and joint decision-making for long-term business. Thus, procurement in the supply chain is a two-step process: strategic sourcing – for becoming a partner, and procurement – a selection of day-to-day purchasing of goods and services from the suppliers. Further, Plan procurement works when deciding what, why, and when to make purchases of a product or service for the project. Contract Procurement is a process that develops the document and evaluation criteria, whereas administer procurement administers the ongoing project contracts and changes to them; close procurement is the formal closure of all the procurements. Kloppenborg, et al, (2019).
Project Communications Management
multiple company participation has become the fundamental reason for an expert team, as they come from trading partner organizations. Risks from transferring proprietary information can be a risk factor.
Plan communication transforms the communication requirement into the communication management plan to analyze the stakeholder’s information that is further addressed in terms of content, delivery method, frequency, and support systems. Also, many organizations in this environment utilize workflow tools to collaborate and automatically forward information to the stakeholders. Report performance describes the current status and the forecast of future performance based on project records, presentations, feedback, the changes made in the plans, issues resolved, and the stakeholder’s notification. Kloppenborg, et al, (2019).
Project Risk Management
PRM puts considerable attention to the risk associated with the project. In supply-chain project management, risks are of two types – one is to the project itself, and the second is supply-chain design. There are various reasons behind the curtains, including communication and increased efficiency. Sometimes, being flexible becomes a risk mitigation; thus, better communication and use of resources may reduce the risk in supply-chain projects. Risk management describes strategies to maximize the probability and consequences of positive events. The pThe plan risk management process focuses on the management’s risk tolerance as supply-chain projects highly depend on qualitative and quantitative analysis. Plan risk responses, deal with the risk events after identifying them, monitor & control, and review the known and the new ones. Thus, measures like – avoidance change the project plan, transference involves shifting risk consequences, mitigation reduces the probability of suffering, and acceptance means no prevention action is required.
The primary reason for determining project progress and results is that it is easy to determine when issues arise and correct them before they become a total derailment of the project. Maintaining control of the project’s progress and results makes it easier to keep the project costs under control. Kloppenborg, et al, (2019).
Project management is an important and sometimes weighty responsibility. It is an essential area and function that lacks visibility and maturity in many organizations. APICS SCC surveyed supply chain and operations management professionals to: Determine where practitioners stand in supply chain project management. Evaluate how often professionals practice supply chain project management and other responsibilities. Explore areas professionals find challenging and whether those challenges reveal insights into developing best practices. Kloppenborg, et al, (2019).
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References
Kloppenborg, T., Anantatmula, V., & Wells, K. (2019). Contemporary project management (4th ed.). Stamford, CT: Cengage Learning
Pinto, J.K. (2019). Project Management: Achieving Competitive Advantage (5th ed). Boston: Pearson.
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