Modelling of supply chains is the way forward
Aidoo-Sam, MA & Sloan, RK 2007, 'Modelling of supply chains is the way forward', International Technology Management Review, vol. 1, no. 1, pp. 12-21.
ANZSRC Fields of Research
1503 Business and Management
Abstract
Modeling of the supply chain provides supply chain managers with a powerful tool for improving supply chain performance. The main purpose and value of modeling is identified as promoting understanding, directing focus onto key issues and facilitating the measurement of performance. Models enable companies to make better-informed decisions, reduce risk, and save money. A model developed by the Supply Chain Council is used to exemplify these matters. Some important factors to be captured by supply chain models is discussed and illustrated in the context of an example from the oil industry. Factors to be considered in framing supply chain models are then considered, and some important issues are identified. A particular example, investment banking, is then examined from the point of view of network modeling, and examples of criteria that would have to be considered are identified. A number of cases examined show how policy and competition decisions can be facilitated by supply chain modeling, and illustrate the importance of internal and external communication when new models are adopted. It is concluded that supply chain models can be of great value to managers providing they are well designed to their particular purposes and well utilized by those who choose to employ them.
URL: http://epubs.scu.edu.au/era/109
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