Importance of supply chain management

Importance of supply chain management Introduction Supply chain management is a method of moving materials and associated information effectively and efficiently within inter and intra organisations. To get this task done in the desired way, use of e-business applications is essential. Supply chain management includes the coordination of the organisation involved in the supply side activities with the customers who are receiving the products (Chaffeey, 2009, pp 331). Supply chain management starts with identifying the resources and linking them with the processes which commence with the sources of raw materials and continues until the delivery of the items done through the end consumer. A supply chain activity differs from companies to companies but they provide the benefits of specialisation of process and the economy of scale (Trkman et al, 2007). Importance of supply chain management: An improved supply chain adds superior value to the organisations operation which ultimately gives superior value proposition to the end user for which efficient customer response (ECR) is crucial because ECR deals with the demand management which is required for satisfying the demand of customer by quickly and effectively applying product assortment strategies, rapid introduction of the new product and marketing communication by reducing stocks and delivery time (Chaffeey, 2009, pp 335). Elements of supply chain management: The way the knowledge and flow of information is processes and its outcomes received along with protection of intellectual property are important part in a supply chain strategy. Knowledge here is the information that the organisation has accumulated through years of experience and applying them for planning and   implementing strategy. The improvement in the processing technology of computers and advent of softwares like MS outlook, Lotus Notes that have facilitated the arrangement of discrete information in a logical and useful manner, these abilities give rise to the concept of knowledge and information management which is crutial for effectively managing the supply chain. For an organisation which is highly influenced by customer needs and expectations for them knowledge management is of great significance in two main areas that are customer intelligence and new product innovation as during supplying to customers there are multiple touch points in the organisation where customer interacts with it, Therefore the ability of an organisation to reap information about the customers behaviour and choice on this touch points proves to be a critical wealth of information which helps in customer retaining and growing customer value. In contrast with the new product innovation, the knowledge which flows across the suppliers, customers and market factors by sharing it across the supply chain leads to innovation and increased involvement of supplier in the innovation process  Ã‚     Ã‚  Ã‚  (Croom, 2005). Benefits of adopting Electronic Supply Chain Management: The Following improvements can be found by adopting the e-business supply chain management: Cost performance: by improved productivity and lower input prices Customer Service: by providing service quality Process capability: by maintaining consistency in quality Productivity and dependability: by increased control of material flows along the supply chain (Tan, 2001) Supply chain management involves improving the internal processes, but also processes performed in conjunction with suppliers, distributors and customers. It also provides great opportunities to improve product performance and deliver superior value to the customers. As a result supply chain management can dramatically have an impact on the profitability of a company through reducing operational cost and increasing customer satisfaction and so loyalty and revenue (Chaffey, 2009, PP335). Supply Chain Models: The supply chain model from the system viewpoint can be seen as involving the following processes: attaining resources or inputs, transforming the resources/inputs into outputs that is the product/services and lastly delivering the outputs to the end customers. In terms of e-business the supply chain can be optimised to provide better and efficient delivery while minimising the cost. Push and Pull supply chain model: Push supply chain: These involves delivery of product/service to passive customers. The objective of this model is optimising the process while attaining cost effectiveness and efficiency. The features of this model are development of new products, data integration, minimised technology utilisation, longer cycle time and the large inventory. Pull supply chain: This involves value delivering to end customers. This supply chain includes active customers who encourage improved quality and value of products/services. The model emphasise and identifies the requirement of customers by carrying out market research for developing and improving the products. The supply chain focuses on delivering value while reducing cost. Upstream supply chain: Disintermediation: This involves directly buying from the supplier. This results in lesser costs and reduced cycle time. Reintermediation: This involves business to business exchange of the products. Downstream supply chain: Disintermediation: This involves direct selling to customers, while incurring reduced cost of sales and enhanced cycle time. Reintermediation: This involves competition in newer markets by business to business transactions.   Shell chemicals: Shell chemicals is one of the largest petrochemicals producers in the world who supplies the bulk material to the large industries for the manufacturing of industrial and the consumer goods. It is very crucial for such an organisation like shell to have a well planned and controlled Supply chain management. Issues: Prior to the adoption of electronic supply chain management in shell, everything was managed manually that involves lot of time consuming activities. Due to this time consuming process there was a threat that a customer might bear a lack of important ingredient at plant time. Hence to tackle these kind of problem companies maintain safety stocks to avoid shortage, it involves cost to maintain any safety stocks. Supply chain process: SIMON: In 1995 shell has adopted SIMON (Shell Inventory Managed Order Network) system that acts as a Electronic data interchange initially for managing the downstream supply chain. Soon after its success in downstream it was applied to upstream process. SIMON facilitates supplier to get anticipated demand, calculate stock and track shipment status for which customer needs to input three kinds of data, that are current stock level, estimated demand for stock and location, timing and quantity for the shipment details.   Elemica: In the year 2005, shell updated itself by implementing Elemica in its supply chain that was founded by around 22 leaders of the chemical industry. The major benefit to adopt Elemica was standardisation. It offers value to their customers by automation of the processes in the business. For instance the buying and selling of chemicals and then expand the value of that connection by making the new marketing channels and efficiency opportunities by means of our web solutions and supply chain offerings (Elemica, 2010).   Integrated Supply chain: Elemicas revolutionary and new business network completely links the operational base, while eliminating the hurdles of transaction and communication between the processes. Flawless accessibility and transparency of the supply chain provides the power of efficiently carrying out the operations and removing access personnels, assets and inventory. Elimica utilises a standard format in its integrated supply chain structure, which is also favourable for organisations existing in similar industries.   Process: The supply chain Elimica records and maintain inventory and sales forecast on daily basis, that helps in analysing customer satisfaction. This is further collaborated with the ERP system of the Elimica hub (). Global reach and connectivity: Elimicas founders happen to be the most renowned and established leaders in the global industry. This provides an international base for business, that helps in drawing the attention of both buyers and sellers. This phenomenon further builds up an opportunity to develop relations with new customers. Elimica acts as a facilitator for business transactions on this global platform. Security: Elemica has adopted several measures to protect accessibility and data flow. This helps in safeguarding the transactions of customers/participants. Strict data protection measures, encryption technology and transparent firewalls are features of security offered by Elimica. The policies and processes are regularly checked to meet the security standards. Conclusion: After critically evaluating the supply chain management of Shell chemicals, it was found that the benefits of adopting Elemica is seen in the form of improvement in supply chain management that includes reduced cost resulting in cost efficiency, improved quality resulting in customer satisfaction, increased capability of process and increased productivity and dependability. Ultimately these improvements fuelled the profitability of the company. Recommendation: While dealing with the decisions regarding the implementation of e-business in the process of supply chain, companies should look for the strategy that is most appropriate for the unusual processes combined with the blueprint of the operation. It is mainly important for those small organisations which cannot invest huge money at particular time period. Managers should carefully consider coherence between the internet tools to adapt choices in terms of integration with customers and supplies. The internet can support and facilitate information sharing, both in collaborative or in market-type relationships, or can be used to support closer integration (system coupling) with the partners (Cagliano et al, 2005). Prior to a client switching to a new SCM system there should be adequate testing to see if the system meets the clients requirements. When a standard supply chain template is modified to suit a customers requirements, particular care should be used in the implementation and provider firms should be very insistent that client forms follow the providers implementation methodology (Sridharan et al, 2005 ). Reference: Croom, S.R (2005), The impact of e-business on supply chain management, International journal of operations and production management, Vol. 25 No. 1, pp. 55-73. Chaffey, D (2009) Supply chain management E-business and E-commerce management. Harlow. Prentice Hall,PP 331 Chaffey, D (2009) Supply chain management E-business and E-commerce management. Harlow. Prentice Hall,PP 335 Cagliano, R., Caniato, F. and Spina, G. (2005) How companies are sharing their supply chain through the internet International Journal of operations and production management, Vol15 No.12, pp1309-1327. Elemica (2010) Supply chain [Online]. Available from: http://www.elemica.com/solutions/elemica-solutions.html Accessed on [15/03/2010]. Sridharan, U.V., Caines, W.R., Patterson,C.C (2005), Implementation of supply chain management and its impact on the value of firms, Supply chain management: An International Journal, Vol10 No. 4, PP 313-318. Trkman, P Stemberger, M.I Jaklic, J and Groznic, A (2007) Process approach to supply chain integration, Supply chain management: An International Journal, Vol12 No.2, pp 116-128. Tan, K.C. (2001), A framework of supply chain management literature, European Journal of Purchasing and Supply Management, Vol. 7 No. 1, pp. 39-48.

Kubla Khan – C. A

Sometimes, a poem is celebrated not for the story it tells, but for how it is told. Some poems are famous simply because of the way they are told: the elaborate, vivid language used to describe places and sights. â€Å"Kubla Khan or A Vision in a Dream† by Samuel Taylor Coleridge is one such poem. Written in 1798, it is a poem that uses intricate language to portray a vision or dream that Coleridge had. Coleridge claimed that the poem was written in an opium-induced haze, which is something that can be implied by the poem's subtitle, A Vision in a Dream. This poem is essentially about nothing; it is enthralling due to its language and feeling rather than any specific message. The lines of the poem Kubla Khan sound like a chant and helps suggest mystery, supernatural, and mystical themes. The language used is expressive enough that you can yourself envision the place Coldridge dreamed of. It is a lyrical poem in four stanzas, told in iambic pentameter. In the first two lines, Coleridge describes the â€Å"pleasure dome† in Xanadu. In Xanadu did Kubla Khan a stately pleasure dome decree Kubla Khan did not merely order, but decree that a â€Å"stately pleasure dome† be built. This dome is evidence of how unnatural or unreal the place of Xanadu is it has a ruler who ignores the unpleasantness that can be found in life. He uses his vocabulary to challenge and tease the imagination into seeing what he saw in his dream. In Xanadu, there are not small streams, but â€Å"sinuous rills† and wall and towers do not enclose the gardens but are girdled round'. Coleridge's use of language helps to convey and interrupt the extent of his imagination. In the poem Kubla Khan, imagery is also important for Coleridge to show his imagination to the reader. There are images of paradise throughout the poem that are combined with references to darker, more evil places such as hell. On example of this is the â€Å"demon lover† that has bewitched the woman. Coleridge's image of the â€Å"dome of pleasure† is mystical, contradicting the restrictions of realism. The structure of Kubla Khan is really in two parts. The first, describes Xanadu as if Coleridge is actually there, experiencing the place first hand. The second part of the poem is filled with longing and a strong want to be in Xanadu, but Coleridge is unable to capture the experience again. It begins with a definite rhythm and beat and describes the beauty of Xanadu with rich and strong images. The second part is that it depicts the violence of life outside of the pleasure dome and even mentions the threat of war. It is proven that beauty and danger cannot be separated from each other, despite what the ruler Kubla Khan wants. The fourth stanza is when the poem no longer describes Xanadu, but Coleridge's desire for control over his imagination, to be able to recall the feelings and ideas of Xanadu. This shows that even the ruler cannot have control over the forces of nature, and the writer over his imagination. Both parts of the poem deal with the attempt to create. Kubla Khan has built a pleasure dome and Coleridge is trying to use language to recreate the perfection of his dream with words. Coleridge was a very religious man and the poem is filled with references to God and other related ideas. Xanadu symbolizes the Garden of Eden, and how it is beautiful and innocent, surrounded by evil and the constant threat of destruction. Coleridge describes the river as â€Å"sacred† many times throughout the poem, and to Xanadu as â€Å"holy and enchanted. The demons described are closely related to witchcraft and the closing lines of Kubla Khan describe pagan rituals. Those rituals try to protect not only the reader, but also Coleridge himself from the forces of evil and the extent of his imagination. On the whole the poem presents a conjunction of pleasure and sacredness. At the end of the poem the poet is himself regarded as a holy and sacred person, a seer acquainted with the mystery of life, with his flashing eyes and waving hair, he is considered fed of the dew and honey and is believed to drink the milk of paradise. In the light of the above we can safely say that the poem is replete with all the qualities of Coleridge’s poetry and is a living embodiment of supernaturalism, element of mystery, fertile imagination, dream quality, medievalism, love of Nature, meditative note, music and narrative skill which distinguish Coleridge’s poetry as the most complete representative of the English Romantic poetry of the early nineteenth century and makes ‘Kubla Khan’ a great poem and make it equal to his other two great poems, ‘The Ancient Mariner’, and ‘Christable’.

Essay Samples Ielts - What Is It?

Essay Samples Ielts - What Is It? The Ultimate Essay Samples Ielts Trick To compose an impressive short essay, especially during an examination, you have to be in a position to hit the question and offer a straightforward answer while at the very same time observing the most suitable structure of an essay. No matter this issue, the structure is the exact same for any persuasive essay. Example of definition essay written in the appropriate manner are available here. The success of the entire essay directly depends upon how good you present the supporting facts. As tempting as it might appear to skip past the extra info and go straight to the list of persuasive essay topics, don't do it. Qualities of a fantastic persuasive essay topic The topic needs to be specific. Selecting a great topic for your essay is among the most essential and frequently tricky parts for many students. Essay Samples Ielts: the Ultimate Convenience! Essay writing is usually practiced is schools. You want to understand how to compose an effective essay as it is a typical foundation for a student's grade. Children who may use the computer when they're young have more confidence than other children. There are a lot of persuasive essay examples college students are able to make use of online. Students shouldn't have to wear uniforms. They should not have to wear school uniforms because they limit students' ability to express their individuality. In general, they are asked to write assignments that take between half an hour and a whole hour. The Unexposed Secret of Essay Samples Ielts Such a paragraph might incorporate a concise overview of the ideas to be discussed in body of the paper and other information related to your paper's argument. Essay exams are a practical tool for finding out if you are able to sort through a huge body of information. Adoption is an alternate solution. Having evidence isn't enough. There are not any steadfast rules that you want to adhere to as you write. On the flip side, there are particular positions where experience is an asset. In such situations, there's no use in forcing the previous ones out of their jobs very early. Possessing excellent research abilities and selecting an excellent topic is vital. 1 day on the job, Rae ch ose to go an additional mile inside her efforts. Money satisfies the bodily needs of the individual, but people will need to see that happiness isn't physical. High school is a vital time in the life span of young individuals. Men and women that are focused on money find themselves working all of the time they don't have time to do the things they enjoy. Some jobs take a lot of physical exertion. In addition, the writer has a propensity to be repetitive. Another thing which you should think of before writing is your principal point. When you settle on this issue and pick the position on which you will base your essay, the remainder of the job can then begin. You may trust us to give expert assistance for many of your academic writing needs. The Benefits of Essay Samples Ielts For girls, having balanced mental wellness is essential to getting a thriving academic career. It is very important to be aware that perfect' relationships aren't always present and can't always be done between twins. If you aren't healthy, you won't get to relish life. After the mother's or child's life is in danger. Who Else Wants to Learn About Essay S amples Ielts? For instance, a normal American movie will probably achieve three hundred percent profitability. All of the principal points ought to be concisely mentioned in the preview. On the reverse side, there's a different category of audience for regional films. It is essential for writers to preview their key points in the specific order they will be developed.

Implications Of Credit Risks And Credit Risk Management...

Implications of Credit Risks Credit risk is referred to as the primary banking system in financial risk management. It exists in virtually all banking activities that are income producing. Therefore, the way the bank manages and selects credit-risks is significant to the long-term performance of the overall banking operations or performance. Researchers note with a lot of concern that many financial and banking institutions have failed because of the capital depletion that is largely attributed to losses in loans. For this reason, the rating in credit risks and identification is the first significant step to manage the banking operations effectively. There is a regulatory requirement by OCC that expects all the national banks in the†¦show more content†¦Indeed, most of the debtors generate their liquidity, income, and revenue from assets. These two banks use both liquidity and capitalization analysis during the advancement of their credit facilities. It helps in the determination of borrower’s a bility to persevere through unplanned events and economic slowdown. The other critical aspect that these banks focused on, especially when advancing credit facilities to a business, is the cash flow. In essence, the cash flow is the operating revenue derived as result of company operations or activities. Cash flow helps in determination of working capital. Projection Analysis Bendigo and Common Wealth use projection analysis in the determination of the debtor’s credibility including both the historical and current information. This analysis helps in assessing the borrower’s financial condition and track record. It helps in evaluating the expected performance of the business or the venture that the debtor undertakes. The banks also compare between the financial projections of the borrower and his or her historical performance, which determines whether the projections are achievable. They carry out this analysis through best case, break-even, and downside methods. In most cases, borrowers that experience a negative deviation in their projections fail the credibility test in risk rating (Gestel et al. 16). Referral of Repayment sources Before the Bendigo and Common Wealth banks advance theirShow MoreRelatedIn Recent Years, It Has Been Witnessed That A Number Of1150 Words   |  5 Pagespointed out that the laxity of credit risk management is one of the causes of the growth in the number of non-performing loans. It is necessary, therefore, to work out a method to improve the efficiency of credit risk management. This thesis examined five large commercial banks in China and studied their credit risk management processes. 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