Comparison of Supply Chain Management Practices Essay

This report provides a comparison of the supply chain management practices of Wal-Mart and Toyota. Comparison was done after researching, examining, and analysing each company’s supply chain management practices, in relation to each company’s values and philosophy. Comparison was done in five sections, by examining strategic alliances, procurement and outsourcing, challenges and risks, sustainable strategies, and efficient supply chains in relation to technology. Additional figures and references used can be found in the appendix and reference list. Comparison of the two supply chain management practices showed that despite being from different industries, with different company philosophies, Wal-Mart and Toyota both have similarities†¦show more content†¦These practices ensure production and distribution of merchandise in the right quantities, locations, and time. Efficient supply chain management can provide a source of competitive advantage to an organisation (Christopher, 2012). In the case of Wal-Mart, supply chain management practices are targeted towards lowering cost price, the basis of Wal-Mart’s competitive strategy. This is done by avoiding unnecessary middlemen and seeking to purchase products directly from manufacturers. As a large retailer, Wal-Mart is also able to utilise buyer power to achieve a supply chain that is more efficient and low-cost (Basker, 2007). Supply chain management practices for Toyota are integrated into the Toyota Production System (TPS). TPS is a combination of organizational philosophies, and practices, focusing on relationships and quality. Toyota achieves this by producing vehicles Just In Time (JIT), to reduce in-process inventory and associated carrying costs, as well as increasing flexibility. This also reduces overburden and inconsistency in the supply chain, and cuts wastage (Gross McInnis, 2003). Toyota thus achieves efficiency and low-cost through the streamlining of the supply chain processes. Each company has different types of supply chain practices. Wal-Mart manages their supply chain by leveraging their buyer power for a better negotiating position, and shortensShow MoreRelatedThe Main Influences On Operation Management1112 Words   |  5 PagesOperations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services. The main influences on operation management include; ï  ¶ Globalisation ï  ¶ Technology ï  ¶ Quality expectation ï  ¶ Cost-based competition ï  ¶ Government policies ï  ¶ Legal regulation ï  ¶ Environmental sustainability ï  ¶ Cooperate social responsibility (CSR) Globalisation Globalisation is the change in a businessRead MoreSupply Chain Management1259 Words   |  5 PagesIntroduction Supply chain management is a valuable practice whose purpose is to offer businesses a competitive advantage in the market place. According to Jacoby, D. (2010), some companies like Walmart and Dell have applied this system to gain a competitive advantage in the market while others have failed to apply it owing to its complexity. Companies require adequate and accurate information about all the players in the chain management in order for them to meet their consumers, demands whileRead MoreProduction Planning And Inventory Control1520 Words   |  7 PagesPlanning and Inventory Control Processes covers manufacturing, storage, and related areas. Specifically, the production planning controls the designing and management of the entire airplane manufacturing processes input material scheduling and acquisition, manufacturing, design, and material handling. The inventory control is on the design and management of storage procedures for the raw materials inputs in the airplane manufacturin g processes, work-in-progress inventories, and final products. 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The reason for my choice of Woolworths was that as they are one of the biggest companies and employers in Australia, and have recently been in the media spotlight for the closing of one of the recent projects Masters. Another major reason as to my choice of Woolworths is that there supply-chain would be as interesting and extensiveRead MoreInventory Management Systems and Their Descriptions1140 Words   |  5 Pagesnumerous inventory management systems, and examples include Systems Application Programming (SAP) System and JD Edwards inventory systems. SAP is an Enterprise Resource Planning (ERP) system that facilitates how businesses run their supply chains. SAP provides businesses and their supply network a quick access t o supplier information, building a patent supply network that promotes a resourceful relationship for a more supple and receptive supply network. 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Integrating the supplier’s activities with its own has become important for the firm, to minimise inventories and to be able to deliver customer orders on time. Closed-loop manufacturing is a system in which a product is created using renewable

The Invention Of China s Inventions - 1795 Words

On a daily basis, people come across hundreds of inventions that are made around the world. Each one of these inventions have profoundly affected the way people live their lives. China is one of the leading providers to the United States. They have also made various inventions that people benefit from today. One of China s earliest inventions was paper. This invention was developed in 105AD and has become a product people still use today. The ingredients that were used to make paper was a variety of fibrous materials, birch leaves, and wood pulp. The process of making paper would take up to thirty days to construct. The production of paper was a rigorous process that China held secret for hundreds of years. Despite the fact that there†¦show more content†¦By this time paper mills had been invented in other countries which caused the paper to go from a complex recipe that was one held secret by the Chinese to a ubiquitous production with the use of machinery. People have come far in the innovation of paper. One component that has been altered are the ingredients that go into the paper. Although some ingredients remain the same, paper factories use more chemicals to manufacture paper rather than the traditional ingredients. With this technology and different ingredients, making paper has now become much easier and faster when compared to ancient times. It is now one of the most used item in our daily lives. Another Chinese invention that has had a profound affect in people s lives is gunpowder. It was first invented in 142 AD by Wei Boyang (quart) and has become a greatly used product around the world. Like many of China s inventions, it was kept a secret. It was not until 1100s AD that this secret was discovered. The first to hear about the discovery of the gunpowder was the Islamic empire. It was then discovered by the Roman empire and soon made its way to Europe. China first discovered gunpowder could be used as a weapon when they put gunpowder on one end of a bamboo tube and a metal item on the other end. This caused the gunpowder to explode and shoot the metal item from the other end. This was the start of the weapons we use today. The first ingredients that gunpowder was made with was a mixture of sulfur,

Sociological Explanations of Unequal Distributions of...

Sociology Homework: Examine the sociological explanations of unequal distributions of wealth and income in contemporary Britain (24 marks) There are five main sociological explanations of unequal distributions of wealth and income in contemporary Britain that I will be discussing as well as explaining within this essay. One sociological explanation for the unequal distribution of wealth and income in contemporary Britain is because it is necessary for the maintenance of society. This is argued by functionalists such as Davis and Moore who suggest that inequality in wealth and income is very significant due to the fact that some jobs are seen as more functionally important than others. As well as this, they believe that meritocratic†¦show more content†¦However this theory can be criticised as it only looks at inequality within class and not inequality within gender, age or other aspects. In addition to this this theory also fails to explain inequality within men and women from different cultural and traditional backgrounds. A further explanation is because of market situation of individual workers in the labour market. This is argued by a social theorist in the name of Weber, who suggested that wealth and income inequality occurs because some jobs have high rewards due to the fact that they are associated with strong trade unions. Other reasons are because of how high the demand is or because of key attributes needed in order to undertake a job. A prime example would be people employed to undertake transport services e.g train or bus drivers. On average Train drivers get around  £ 41,000 a year while nurses or school secretaries get around 15-27,000 a year. We see that this is the case because train drivers are linked to trade unions such as the TLC which help make the decisions of striking or protesting if something is wrong and its difficult for the government to oppose transport workers as a lot of people rely on tubes and buses to get to work and if trains and buses don’t operate then no mo ney will go towards the government. This links to contemporary Britain because some jobs don’t give highShow MoreRelatedIs Class a Zombie Category? Essay example5045 Words   |  21 PagesIs class a zombie category? - by Daniel Byrne ‘Talent is 21st century wealth. †¦ It is the nations only hope of salvation †¦ Not equal incomes. Not uniform lifestyles or taste or culture. But true equality: equal worth, an equal chance of fulfillment, equal access to knowledge and opportunity. Equal rights. Equal responsibilities’ (BBC, 1999). 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Honesty, the Key Virtue free essay sample

Honesty, the Key Virtue â€Å"It’s a special thing, Like the flutter love brings, And the tune We allow our trust to sing. Without it, we fall apart. Without it, there’s no purpose To our start. It’s what enhances the bond Within humanity. What could this special thing be?† To merely say you love someone and trust someone means nothing. To have found what makes that love and trust last, however, means everything. People cannot simply say they love someone; they must show it. Also, trust is not a bridge that is constructed overnight; it takes time. These two qualities in a relationship are earned, and involve great care and commitment. There’s a problem, though. It’s easy enough to love someone for a while, and to trust someone for a day; but, what makes it last? The practice of honesty makes it last. Honesty is one of the key virtues a human can possess within a relationship. We will write a custom essay sample on Honesty, the Key Virtue or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page With honesty, people can better love and trust one another to their greatest potential. When you aspire to love someone, honesty must be present in your relationship. Whether you are trying to love your parents, friends, significant other, or anyone else, you must be honest with them. By being honest in any kind of relationship, you show respect and the ultimate height of love. To love someone means that you have consciously made the decision to put their needs before your own and help them in any way possible in bettering their life. Honesty is necessary in a loving relationship because it creates unity and level ground where you both can meet. Could you truly love someone who you’ve never been honest with? Also, if you’re not honest with someone you love, can that person trust you, and can you trust that person? When you trust someone, honesty is a critical characteristic you both must have. By being honest with one another, you are creating trust. It is very easy to portray yourself as somebody very different than who you actually are. By trusting someone, you have chosen to take off the mask and to let that person into your world, however secretive you may be. Therefore, if you trust someone, you will be honest with that person. Being honest is so important when you trust someone, because it molds your relationship into the strongest relationship one can havea relationship with trust. Just as easily as honesty creates trust, dishonesty destroys relationships. The most shattering realization is when you realize that someone you love and trust has been dishonest with you. It really makes you wonder why, if the person really loved you, he or she would hurt you by being dishonest. Also, if you have trusted someone, and then he or she returns your trust by later being dishonest with you, don’t you start to second guess the whole relationship? Dishonesty really hurts the love two people have created. Why hurt someone you love? If you love someone, you trust that person. To break that trust by being dishonest must be the lowest form of conduct one could put upon another. Dishonesty is completely unnecessary. Always be honest, and it will result into lasting, promising characteristics of love and trust in your relationships. Although other virtues in relationships are extremely valuable, the quality of honesty is one of the most fundamental assets one can possess. With honesty comes understanding, insight, sensitivity and meaning. In order to create a relationship where there is genuine love and trust, there must be honesty, or else the relationship will not last. If you truly care about someone, being honest with that person should not be hard. Honesty is what enhances the bond within humanity. Always be honest, don’t break the bond you have created, and your relationships will be valuable and last forever.