The 7 Principles of Supply Chain Management

ARTICLE CRITIQUE: THE 7 PRINCIPLES OF SUPPLY CHAIN MANAGEMENT
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Table of Contents Introduction. 3 Methodology. 5 Key Questions Addressed in The Article. 5 Opinion and Lessons. 7 Viability of the Article. 8 Summary of the Relevant Issues. 8 Conclusion. 9 Challenges for Practice. 9 The Usefulness of the Article. 10 References. 11
Article Critique: The 7 Principles of Supply Chain Management
Introduction
Supply chain management is a crucial aspect that affects a business's general stability and financial viability. When supplies are outsourced, the company's operations strongly rely on their accessibility and prompt delivery. The supply chain managers serve as the business's conduit between suppliers and clients. The article's authors affirm that leadership teams encounter pressure from various sources. Customers' demands for commodities are growing, while the company is under increasing strain to expand and become more profitable. The stress compels the managers to implement strategies designed to satisfy the demands.
The fundamental idea behind supply chain management focuses on the market, which includes stakeholders, market logistics, and projections for all the various business-specific ideas. Although a corporation deals with products from supply to distribution, the supply chain structure also includes other activities that need a dedicated team of managers to oversee the supply chain effectively (Anderson et al. 2007, p.2). The seven supply chain management principles give managers a general understanding of the requirements in the supply chain as demonstrated by the experiences of the most effective manufacturers as they move forward with the supply chain in their different organizations.
The article highlights several important concepts. The study's authors contend that supply chain managers struggle to oversee the entire inventory system because of their constrained operations. The majority of businesses place a strong emphasis on achieving the business's measurable goals in their supply chain management strategies. Therefore, their primary focus is achieving the expected income growth, utilizing all available assets, and lowering operating expenses (Anderson et al. 2007, p.2). The authors, however, take a broad perspective of SCM. The entire process should consider the movement of commodities, the needs and capabilities of suppliers and customers, and the expansion of the business.
The most effective businesses frequently use an integrated approach for their supply chain management structures. They have broad objectives that incorporate technical and strategic adjustments. Along with emphasizing generating revenue, they also ensure that the cost- and asset-utilization principles are maintained. According to Anderson et al. (2007), unsuccessful firms that struggle with supply chain management challenges have preset guidelines for functionality that are not flexible to changing market and economic conditions. Additionally, the businesses have a restricted emphasis, prioritizing generating revenue over other aspects of the framework. The effectiveness of supply chain management ...