Managing Innovation Adoption of Supply Chain †MyAssignmenthelp.com

Question: Discuss about the Managing Innovation Adoption of Supply Chain. Answer: Introduction: Every company has a big responsibility of ensuring customer satisfaction. When the customer is satisfied, there will be a tremendous growth in the business, as demand will shoot. The work of planning, implementing, and control of the efficient, effective forward and reverse flow and storage of goods, services and related information from the origin to the point of consumption is logistic management (Christopher, 2016). A logistic manager fulfills this role. Logistic management is a component of the supply chain management, which is very crucial for the achievement of the company's goal. In this study, I chose one of the food manufacturing companies in Singapore called Golden Bridge Foods Pte Ltd. According to Sadie (2012), this company started in 1993. The founder of Golden Bridge Foods ltd wanted to satisfy the love of Singaporeans to processed meat, and hence the development of the company. After three years, the company moved to the new site in Senoko South road Singapore. The company is the leading manufacturer of the processed meat in both Singapore and outside world. Their business has been growing and established due to the love that Singaporeans have for processed meat. The company has ensured jobs to some of the Singaporeans. For instance, in 2012, the company had employed 130 staff members, 35 were working in the administration, sales and supports, ten were under management, and 95 were working in the production and operations. The staff population has been increasing yearly due to the growth experienced in the company. Global Bridge Foods Company has been standing out among its competitors due to its unique production. They were awarded several certificates one of them being an ISO-certified certificate with the international organization and standardization (Sadie, 2012). This paper explains how principles of logistics management are applied, their effectiveness in the company and provides recommendations in the various logistics systems. A logistic function within an organization is not independent. There must be an interaction of logistics with one or two different functions within the company to ensure maximum productivity and increased profit margins. Within a company, logistics interfaces with different functions among them being: Production/manufacturing, finance, accounting, and marketing. Interfacing with these different organizational functions will determine the profit margin of the organization. In Golden Bridgewood Company, there are various interfaces between logistics and the different functions within the company. The following are the description of how logistics interfaces with other functions within the company: Marketing: In recent times, organizations realize the importance of integrating marketing and logistics. Warehouse and distribution are very critical in marketing; there is no sale that can be recorded when the product manufacturing is stagnant, or the product is not at the right place and time as required by the customers. When marketers give orders from customers, the company has to meet the set deadline for delivery. Logistic functions help in making the timely delivery possible. Marketers need to ensure that the products are in stock and within the required time, they can reach the customers. Without this integration with logistics, marketing will not be productive (Min, 2015). Finance and Accounting: Logistics integrates with finance in a manner that it helps in budgeting, negotiating contracts with carriers, auditing freight bills, discovering billing errors, and managing parcel shipping. All these are roles that directly involve finance and accounting, but logistics comes in to give support and the required information by the finance department. Finance department cannot manage to monitor every bit of the carrier bills, payment and negotiations; by logistics coming to help, it boosts the cohesion of the company. When there is no integration between the two departments, finance and accounting department may cause the bankruptcy of the company (Wuttke et al., 2013). Production: Production or manufacturing is an important element of the company. It is the main body of the company. There will be no production when the supply of raw material is not efficient. There must be an effective way of supplying raw materials, the intermediary, and the final products. Logistics helps in the production department by ensuring there is an effective flow of the raw materials. They build a trusted relationship with the carriers who are able to work with the companys logistics policies and hence ensure effective transportation of the raw materials. Delivery deadlines set by customer gives a guide for carriers to work within the time threshold. Lack of integration between production and logistics will result in delayed production and thus the general delay in the entire process (Wuttke et al., 2013). Order processing system captures the data from a customer, stores the data in the central database, and sends the order to the finance and shipping department. In golden Bridge Company, the system is very effective, from the advertisement of the products via online platforms, inquiries are sent in and follow-ups are made to the customers in order to get sales from them. The Company has improved transporting systems making the whole process efficient; products are able to reach customers within the required period. There are different steps involved in order cycle that make the entire process effective in Golden Bridge Food Company, (Carr, 2015). Sales enquires and preparation of quotations Golden Bridge Food Company advertises its products on different online platforms, websites, social media, and many others. Most customers learn about their products and are able to send enquires on the advertised offers. Once an inquiry reaches the office, the office follows up with the customer via sale call or mail to explain further on the products. The customer receives more information on the product through the call or mail until he/she gets convinced. When following up an inquiry, a sales person's target is always to get a sale. Once the customer has been convinced, there is a preparation of quotations for the given products, the quotation is then sent to the customer after being signed by offertory (Porter and Heppelmann, 2014). Customers take in various negotiations and considerations before giving an order to the company. Once the order is there, it undergoes some verification to before being accepted. Depending on the credit limit of the customer, the order can either be accepted, reviewed or rejected. This can also happen considering their set criteria. For example in this company, orders below $ 150 are accepted only if the security code and the address verification are matching. Orders above $ 200, with the security code and the address verification mismatching, is reviewed, orders above $ 250, with security code and address verification mismatching, and the delivery address mismatching the billing address will be rejected (Porter and Heppelmann, 2014). Dispatching is a function of production in which company ships out goods and makes them available to the customer according to the order that received. It is the timely movement of the purchased goods by customers. Dispatching is always timely in this company in order to win the customers trust. It is most valued in the golden bridge as it helps in achieving maintaining longtime relationships with customers. The products brand names, quantities, and prices put on an invoice sheet. This is invoicing. The sheet also contains terms and conditions for the payment. The buyer has to pay the seller as this sheet gives the evidence of supply (Porter and Heppelmann, 2014). The entire process is automatic making it effective. It has various advantages and disadvantages. Among their advantages is that the company is able to scrutinize the order and customer to ensure they can be able to pay, avoiding losses. The timely delivery that despatching achieves makes the system to satisfy the customers. Among the disadvantages, the process takes a long time and cannot handle an order with an emergency. A company can go at a loss especially when sending quotations with no feedback from customers (Christopher, 2016). Recommendations for a more Effective Order System The system used in the company is effective, although, for more effectiveness, various changes have to take place. Technology integration with the retailers demands capture systems will help the company to monitor demand visibility as the product consumption continues. The company should also focus on establishing a consistent customer experience through channels. Finally, the company should invest more in technology systems, which will help in automating most of the processes, which are manual. For every organization or company to function smoothly, it has to employ an effective inventory management system. Inventory management system is the process of moving parts and products into and out of the company's location. Updating Inventory management should always daily, this because of the daily purchase orders and the company shipping the final products out daily. There are many challenges experienced in inventory function; the management has to understand inventory function in order to overcome the challenges (Hiiemaa, 2015).In Golden Bridge, the company employs both manual and computerized inventory control systems. The inventory management system used in golden bridge company is very effective. It has minimal challenges that are experienced. There are four processes involved in inventory management of the company: Determination of the optimum inventory levels and procedure of their reviews and adjustment is the first step. When there is too much of inventory, it will result in locking up of working capital accompanied by increased carrying costs. When there is a small inventory, it will release excessive capital for alternative uses and it reduces carrying costs and increases the ordering cost (Luke Argo, 2015). The second step involves the determination of the degree of control that is required for the best results. It involves the realization of the control required in ensuring the objectives of the inventory management are realized. The company uses various methods of categorization with ABC being the best. This method helps to categorize products according to their value and cost, the valuable product acquires more control (Luke Argo, 2015). Planning and designing of the inventory system is the third stage. The inventory systems define the policies and organizational structure for the maintenance and control of goods. The system helps in keeping track of purchase orders, when to place the orders and how to supply. A technological technique is the efficient one, which should be having a lot of consideration. The software has been in use for almost five years to help in monitoring the inventory process (Hiiemaa, 2015). The three steps in inventory management give us the detailed procedure used in the inventory management of Golden Bridge Food Company. There are a tight procedure and monitoring systems that prevent cases of mishandling goods. There many advantages of this inventory management system. The computerized system helps in saving time, which is important in accomplishing other tasks; it also helps to boost the efficiency of the organization (Ready, 2017). When inventory management becomes automatic, the rest of the departments like data collection, recording and analysis becomes automated making the organization have increased efficiencies. Data security, uninterrupted production, and adequate stock are also some advantages (Ready, 2017). The disadvantages associated with inventory system is that the software is expensive to install and maintain, the system also needs a continuous update that will help in keeping the monitors alert. This is at times very tiresome. Complexity is another disadvantage in that the process of learning how to use the system may be complicated and requires an intense training (Ready, 2017). Recommendations for an improved Inventory Management System For more efficiency in the inventory function of the company, various improvements need to apply. The company should employ advanced software to facilitate inventory management. I propose the use of enterprise resource planning software that helps the company to optimize inventory levels through the identification of when to purchase and to fulfill demand from the customers (Hiiemaa, 2017).It brings transparency to the general process of inventory management. The company should also establish cloud-based inventory management systems, which can provide cost-effective systems while offering access to many users across the world. This will increase the company's market share. Conclusion In any organization, there is the integration of the different departments in order to ensure the achievement of the set goals. Logistics, one of the functions in an organization cannot stand in isolation; it interfaces with various functions like marketing, finance and accounting together with production to ensure customer satisfaction. Logistics interfaces too with the order processing and inventory management. Different companies depending on the market environment will use different ways of order processing. The standard order processing used is sales inquiry, preparation of quotation, order acceptance, dispatching and invoicing. The whole process ensures delivery to the customers. There are many challenges that accompany this process; this challenges led to the development of an automatic process, which facilitates faster delivery of goods to customers. Inventory management, just as logistics function of an organization, is very important. It facilitates the entire process in wh ich there is a movement of products into and out of the company's location. Without the integration of inventory management and logistics, it will be difficult to achieve inventory management objectives. Companies or organizations require cohesion of the different departments in order to ensure achievement of the general goal and mission of the company. References Carr.S. (2015). Order Processing systems changes to fulfill orders faster. Retrieved 28/09/2017 from https://www.handshake.com/blog/order-processing-system-fulfillment/. Christopher, M. (2016). Logistics supply chain management. Pearson UK. Hiiemaa. K. (2015). Effective Inventory Management. Retrieved on 28/09/17 from https://erply.com/effective-inventory-management/. Lin, Y., Pekkarinen, S., Ma, S. (2015). Service-dominant logic for managing the logistics-manufacturing interface: A case study. The International Journal of Logistics Management, 26(1), 195-214. Luke, G., Argo, C. (2015). U.S. Patent Application No. 14/819,928. Min. H. (2015). Principles of supply chain management. Retrieved from https://www.informit.com/articles/article.aspx?p=2359420seqNum=7 Porter, M. E., Heppelmann, J. E. (2014). How smart, connected products are transforming competition. Harvard Business Review, 92(11), 64-88. Ready. C. (2017). Inventory Management: Features, Objectives, Pros and Cons. Retrieved from https://content.wisestep.com/inventory-management-features-objectives-pros-cons/ Sadie, N. (2012). Growing markets with processed foods. Wuttke, D. A., Blome, C., Foerstl, K., Henke, M. (2013). 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