Topic > Supply Chain Management in the New Millennium - 1573

It has become evident that the effects of globalization have changed the market so much in recent decades that a much quicker response is required from manufacturers and their supply chain supply. This is done through effective supply chain management, which involves integrating key business processes throughout the supply chain within organizations. The goal is to create a better value system for the entire supply chain including the consumer. In recent years, many companies have realized the importance of optimizing and streamlining supply chain management processes, since then it has become the focus for many companies. Supply chain management has been seen to increase productivity and consumer satisfaction, which leads to growth in sales and overall company performance. Zara is the prime example of a company that has effectively maintained and updated its supply chain management process to best benefit its consumers in today's market. They were the first retailers to adopt the “fast fashion” strategy. Aim to have a product in store within 15 days of its launch. This has made them excel in today's economy to become the third largest retailer in the world. It is widely accepted that Zara's supply chain is what gives it its competitive advantage over competing retailers. With the growth of the Internet, real-time information, changing consumer behavior, and technology, SCM has changed significantly over time. There is some disagreement about which processes should be considered. However Charu Chandra and Sameer Kumar have correctly identified the main areas to focus on in today's market: • Organizational structures • Relationships with suppliers and distributors • Overall supply chain coordination • Improving inter & ... middle of paper ... ..Works CitedSusan Berfield and Miguel Baigorri, Business Week “Zara's Fast Fashion Edge”, 13 November 2013Supply Chain Management in theory and practice: a fad or a fundamental change? Charu Chandra & Sameer Kumar, Industrial Management and Data SystemsHeckmann, Shorten, Engel (2003) Supply Chain Management at 21: The Hard Road to AdulthoodSupply Chain Management in Theory and Practice: A Fad or a Fundamental Shift? Charu Chandra and Sameer Kumar, Industrial Management and Data SystemsHammer, Michael, “The Superefficient Company,” Harvard Business Review, vol 79, no. 9 (2001) Page 84"Rapid-Fire Fulfillment", Harvard Business Review, vol. 82, n.11, November 2004Susan Berfield and Miguel Baigorri, Business Week “Zara's Fast Fashion Edge”, November 13, 2013"Rapid-Fire Fulfillment", Harvard Business Review, vol. 82, no. 11, November 2004.