Most supply chain management homework for companies is part of the preparation for a company’s annual audit. The information that must be reviewed and measured during an audit is significant. A lack of timely and accurate information can result in poor management, which can be disastrous for a company’s future.
Companies use supply chain management to ensure that products are delivered in the most timely fashion. They are also required to maintain adequate levels of inventory. A good supply chain system ensures that products are received at the right place in the right quantity, allowing them to be used and then properly disposed of. Delivery error rates vary greatly depending on the logistics of each delivery. Sometimes this delivery error rate is very high. Other times the rate is surprisingly low.
Companies that are not proactive in their own supply chain management homework will discover issues in the near and long term. These issues can cost companies money. Costly compliance actions are not the only means by which companies can lose money due to poor supply chain management. Poor policies and procedures can lead to accidents that result in injury or even death.
My research turned up many examples of how companies had lost millions of dollars due to poor supply chain management policies. Some had followed procedures but had been lax in enforcing them. When regulations were implemented, many companies found they could no longer meet the regulations because of a lack of personnel. In some cases they had hired new employees to perform some of their tasks, but these individuals did not have the same level of expertise as those who had performed the tasks in the past. As a result, regulations were ignored or not enforced, leading to accidents and delays.
My research also revealed that there were several examples of supply chain management homework being successfully completed by organizations. One such example was a small company that processed its own invoices and paid an independent agency to perform billing reviews. This independent agency found errors in about one hundred seventy-nine processes. These errors reduced the invoicing rate by two percent, which made the company’s profit margin fall by one percent.
An organization that was implementing new computer software experienced a significant reduction in its IT budget when a software engineer did the entire chain management homework project for the company. The engineer found unnecessary redundancies and transferred twenty-four processes into the hands of the network manager. Within twelve months the network manager had completed the entire chain management improvement project, cut costs by one hundred twenty-five thousand dollars and eliminated one hundred seventy-eight redundant jobs. All of this saved the organization four hundred seventy-eight man hours and saved the IT budget by more than one thousand dollars.
Some managers believe it is acceptable to pay someone to do my supply chain management homework for me, but I think that using outside help improves my chances for success. If you are unfamiliar with the process, you can hire a consultant to do it for you, but I think the organization would be better served to invest in a dedicated resource that understands the supply chain management issues facing their business. The consultant has the advantage of experience and expertise. He or she will also know which issues are most important to the profitability of a company. My supply chain management homework was completed in less time than it took to complete the project for another company by an outside resource, which means that they are probably going to reduce my costs even more.