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Supply Chain Analysis
Supply chain analysis is the analysis involving the analysis of the work across multiple enterprises or companies and the ability to reduce the supply chain time taken in the delivery of goods and services to customer.
In today's world, meeting the customer's demand is paramount. The faster a company is able to satisfy the customer's needs by supplying the goods or services to the customer as soon as the need is expressed, the more customer loyalty the company gains. Consumers are finicky and if their needs are not met immediately, then, they move onto other products which are easily available. Supply chain analysis essentially studies the ability of the company to meet the immediate needs of the consumer as soon as the need is expressed. The supply chain analysis involves studying the entire value chain right from the mass production of the products to meet the immediate demand to increasing the production to meet the increase in demand.
There are several benefits in supply chain analysis;
- The ability to shorten the pipeline or supply chain
- The ability to reduce inventories
- The ability to use information and improve forecasting techniques
- Improving schedule preparation and planning
- Increasing turns of production
There are several ways of conducting supply chain analysis through:
- Securing the sharing of information over the internet
- Conducting an inventory analysis
- Preparing a schedule
- Planning in advance
- Conducting a supply chain analysis
- Using simulations to source decisions
- Creating an inter-enterprise structure or architecture
What is supply chain management and supply chain strategy?
Supply chain management refers to managing the network of businesses that are interconnected and are involved in the ultimate provision of the product or service to the end customers. Supply chain management involves the study of all movement and the storage of raw materials, inventory management, and ensuring the goods move from the point of origin to the point of consumption. Supply chain management with the aid of supply chain strategy at the top level, ensures:
- Configuration of the distribution network
- Formulating a Distribution Strategy
- Evaluating the trade-offs in the logical activities
- Integrating information
- Inventory management
- Stronger cash flow methods.
Supply chain strategy ensures that the supply chain is smoother and aligns its activities towards the achievement of the business goals and objectives of the company. Supply chain strategy ensures that there is supply chain execution with supply chain management by managing and coordinating the various movements of materials, funds and information across the supply chain.
What is value chain analysis?
Value chain analysis involves the study of the activities in the business that relates to the analysis of the competitive strength of the business. Originated by Michael Porter, the value chain analysis can be described with two sub-divisions:
- Primary activities: Value chain analysis studies the activities that are directly concerned with the creation and delivery of a product
- Support Activities: Value chain analysis here, considers the activities that are not directly involved in the production, but are involved in increasing the effectiveness and efficiency of the product or service.
Conducting Supply chain analysis and value chain analysis on a regular basis is essential to improve the company's efficiency. There are several consultants who have the expertise in conducting an unbiased supply chain analysis for the company.
MBA&Co are online consultants who specialize in advising companies on supply chain analysis and give essential tips on value chain analysis. We give information on supply chain analysis projects for freelance MBA consultants. We have experts advising businesses interested in conducting supply chain analysis for the company.
