The Relationship between Supply Chain Management and Demand and Supply
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The Relationship between Supply Chain Management and Demand and Supply
Supply chain management (SCM) refers to the process of managing the flow of goods and services from the raw materials to the final product and delivery to the end customer. SCM plays a critical role in managing the supply and demand of goods and services in any business. Demand and supply, on the other hand, refer to the forces that determine the quantity of goods and services that are produced and consumed in the market.
The relationship between SCM and demand and supply is interdependent, as SCM affects the ability of businesses to respond to changes in demand and supply. SCM involves coordinating and integrating various activities such as procurement, production, and logistics, which are essential in meeting customer demand and ensuring that there is a balance between supply and demand. Here are some ways in which SCM influences the dynamics of demand and supply:
Forecasting and Planning
Forecasting and planning are critical components of SCM, as they enable businesses to predict future demand for their products and services. By analyzing historical data, market trends, and customer behavior, businesses can develop accurate demand forecasts and plan production and supply accordingly. Accurate forecasting and planning ensure that businesses can meet customer demand without overproducing, which can result in excess inventory and increased costs.
Inventory Management
Inventory management is an essential aspect of SCM, as it helps businesses to balance supply and demand. Effective inventory management ensures that businesses have the right amount of inventory at the right time to meet customer demand. Businesses must balance the cost of carrying inventory against the cost of stockouts, which can lead to lost sales and customer dissatisfaction.
Production Management
Production management is a critical aspect of SCM, as it helps businesses to optimize their production processes to meet customer demand efficiently. Effective production management ensures that businesses can produce the right amount of goods at the right time to meet customer demand. By using tools such as lean manufacturing and just-in-time production, businesses can reduce waste and improve efficiency, which can lower costs and improve profitability.
Logistics and Distribution
Logistics and distribution are essential components of SCM, as they ensure that goods are transported from the point of origin to the point of consumption efficiently. Effective logistics and distribution ensure that businesses can meet customer demand by delivering products on time and in good condition. By using tools such as route optimization and real-time tracking, businesses can reduce transportation costs and improve delivery times.
In conclusion, the relationship between SCM and demand and supply is complex, as SCM influences the ability of businesses to respond to changes in demand and supply. Effective SCM requires accurate forecasting and planning, inventory management, production management, and logistics and distribution. By optimizing these processes, businesses can meet customer demand efficiently, balance supply and demand, and improve profitability.
The Relationship between Supply Chain Management and Demand and Supply
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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