Efficient and effective Supply Chain Management (SCM) is integral to business success. SCM encompasses the end-to-end business processes necessary for a company to produce goods for delivery to the end consumer.
Integration between the processes and collaboration among the entities involved in the processes is critical. While Although there is no single solution to implementing SCM, most companies have a strategy or approach for managing the various components of SCM.
Perhaps the most important and challenging aspect of SCM is the choice ofchoosing and developing working relationships with suppliers of parts and materials needed to produce a final product. Organizations must carefully choose and manage its their suppliers to avoid any number of risks associated with failure to deliver by a supplier. One way to mitigate these risks is for an organization to engage and incentivize supply chain partners through Supplier Relationship Management (SRM) practices. SRM guides the expectations and relationships among the parties and provides benefits for both sides.
Today’s complex, global business environment requires more than just agreements with suppliers. The sources of parts and materials are no longer always procured locally. Supplier sourcing is more likely to be conducted globally, with the potential to impact people, communities, and cultures in ways that must be considered and addressed responsibly, legally, and ethically.
Scenario
Johnson & Johnson (J&J) is a large, multi-national company with over more than 125,000 employees worldwide. In its Credo, J&J professes responsible and ethical treatment of all its stakeholders. To that end, J&J commits to the following: forming strong relationships with suppliers; including suppliers as stakeholders in innovation; supporting diversity among suppliers; and providing suppliers the opportunity to make a fair profit. In exchange, suppliers must comply with J&J’s Code of Conduct and Responsibility Standards for Suppliers.
You serve as Chief Procurement Manager for the Medical Devices Products at J&J, a position that pays $189,000 annually. You have been with the company for 11 years, and your team works closely with several functions in the organization, including Finance, Marketing, IT, and R&D. One key aspect of your job is to identify reputable supply chain partners that can move product to healthcare providers around the world. In your leadership role, you find it important to follow the J&J Credo, especially the part stating the following: “Customers’ orders must be serviced promptly and accurately. Our suppliers and distributors must have an opportunity to make a fair profit.”
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