Wednesday, January 29, 2020
E-Business Essay Example for Free
E-Business Essay Supply chain management is a battery of procedures that involve planning, executing and organizing the operations of a supply chain (Haag et al. , 2006). Such cluster of procedures covers all activities of a company, including management of raw materials, inventory and final products at both the point-of-origin and point-of-consumption. Supply chain management requires the modification of management from an individual-based level of performance to an integration of operations as key processes in the supply chain. One simple example involves the placement of purchase orders by the purchasing department of the company. This is then coupled by the communication of the marketing department with particular distributors and retailers. Such efforts in integrating several processes in order to maximize and speed up a general process may result in an extremely efficient company. The integration of the financing technology and supplier outreach services facilitates reduction in capital requirements and finance costs associated with the clients (Kemp, 2006). The reduction in requirements and costs is attained through the help of the supply chains, which permits retailers and suppliers to register with the website and interactive with the supply chain system. Such technological innovation of doing e-business helps them track down the payments of any transactions completed or still in progress (Timmers, 2000). In addition, suppliers and buyers are able to work in partnership to settle the final price and this is usually done through the receipt of credit memoranda. Such setting facilitates a faster process of trading. The integration of operations enhances the relationship between the supplier and the buyer, regardless of employment, gender and physical backgrounds.