Supply Chain Management

These are the key ideas in project supply chain management. The administration of the movement of goods and services and the procedures that convert raw materials into finished commodities is known as supply chain management. It entails deliberately simplifying a company’s supply-side operations to optimize customer value and achieve a competitive edge in the market. Kloppenborg and others (2019).

Implementing supply-chain improvements involves nine knowledge areas and requirements:

Project Management Integration

adopts a plan that is compatible with other projects and programs, including specific tasks, tools, and techniques for project completion. PIM also manages the specifics of cost; employees needed, mitigation measures, reactions, process tracking, and ways of stakeholder engagement. Together with these things, PIM also concentrates on the Work breakdown structure (WBS), risk, restrictions, challenges encountered, or changes needing decisions or contingencies to deliver the quality project within the planned time & milestones. Kloppenborg and others (2019).

Manage the scope of a project

works in tandem with societal requirements, technological innovation, market demand, and environmental compliance. When a customer requests a new product, a business must fill the new, upgraded wants per the most recent trends. As a result, PSM oversees all legal requirements, civic infrastructure, and fund-raising activities required to raise company revenues and profits or boost productivity. Kloppenborg and others (2019).

Time management for projects

Time management continues to keep its distinct position even if Project Management has introduced best practices & methodologies to extend the knowledge areas of SCM. Time must be factored into supply-chain projects, which require collaboration across corporate borders, as projects can fail due to inaccurate estimation. Moreover, PTM adheres to the following pattern for SCM projects and all other project types: –

1. Establish Activities.
2. Order Your Activities.
3. Calculate the resources needed for the activity. Time the activity in question. Create a schedule.
4. Control Plan.

Project Cost Control

By offering long-term contracting, commitment to suppliers or customers, activity-based cost tracking, fixed prices for specific products, and balancing upfront partner capital investments with future profit splits, this management system works unconventionally for cost management in a supply-chain project. Moreover, PCM employs a technique for dealing with contributions for new products or services, collaborative investment in an information exchange system (IES) to manage the supply chain, incentives for surpassing plans, and sanctions for deviating from procedures that increase costs. Kloppenborg and others (2019).

Oversee the quality of a project.

The supply chain’s outputs are results and services rather than tangible goods. As a result, SCM project quality management is not always simple. Plans with high plan quality include essential standards and applications for the project. Demand-driven rather than forecast-driven planning decisions for forecast and inventory control are required to gauge progress toward the potential.

Performance quality assurance monitors the execution process’s quality levels to ensure the plan is adequate and monitors project management outcomes like cost and schedule performance.

Handling of the project’s human resources

Teams can now work remotely thanks to the development of new technology, which causes supply chain projects to increase globally. Shared resources and each team’s team are needed for multi-company supply chain initiatives. The main difficulty arises when combining various mindsets with their corresponding jobs and responsibilities becomes necessary for an efficient team. As a result, a supply chain project strategy uses the categories Responsible, Accountable, Consulted, and Informed. Another tool for team building is training. Similarly, many methods are mentioned for a 360-degree review of the project at all levels, including issue log generation, agenda formulation, and conflict resolution facilitation. Kloppenborg and others (2019).

Management of project procurement

A relationship with multiple companies is required for supply chain initiatives to be financially stable. In supply chain initiatives, procurement duty may fall to one party alone or be shared, which calls for cooperation and collaborative decision-making for long-term business. Because of this, supply-chain procurement is a two-step process: strategic sourcing, which aims to find a partner, and procurement, which involves choosing which products and services to buy daily from suppliers. Moreover, plan procurement is effective when deciding what, why, and when to buy a good or service for the project. Contract Unlike administrate procurement, which manages adjustments to ongoing project contracts, close procurement is the formal closing of all procurements. Procurement is a process that generates the document and assessment criteria. Kloppenborg and others (2019).

Management of Project Communications

Given that the members of an expert team come from trading partner organizations, multiple firm participation has become the primary justification. Hazards associated with the sharing of confidential information may be one.

Plan communication converts the communication needs into a communication management plan to assess the input from the stakeholders, which is then further handled in terms of content, delivery mode, frequency, and support systems. Also, many businesses operating in this environment use workflow technologies to communicate and provide information automatically to stakeholders. Based on project records, presentations, feedback, plan changes, issues resolved, and stakeholder communication, report performance outlines the current situation and forecasts future performance. Kloppenborg and others (2019).

Risk Management for Projects

PRM gives the project’s risk a lot of consideration. Risks in supply-chain project management can be divided into two categories: risks to the project and the supply chain itself. Behind the scenes, there are many explanations, including improved efficiency and communication. The risk in supply-chain initiatives may be decreased through improved communication and resource use since flexibility can sometimes act as a risk mitigator. Risk management refers to methods for increasing the likelihood and effects of favorable events. Since supply-chain initiatives heavily rely on qualitative and quantitative analysis, the plan risk management process strongly emphasizes the management’s risk tolerance. Develop risk responses to address risk events once identified, and then review the old and the new ones. So, avoidance modifies the project plan, transference entails shifting risk effects, mitigation lowers the likelihood of suffering, and acceptance denotes the lack of need for preventive action.

The main goal of tracking project progress and outcomes is to make it simple to spot problems as they develop and address them before they completely derail the project. Keeping project expenditures in check is simpler if you maintain control over the project’s development and outcomes. Kloppenborg and others (2019).

The role of project management is significant and occasionally demanding. Although it is a crucial area and role, many organizations lack maturity and visibility. To ascertain practitioners’ attitudes on supply chain project management, experts, APICS SCC, polled supply chain and operations management. Analyze the frequency experts to perform supply chain project management and other duties. Look at the topics that experts find difficult and see whether those difficulties can provide any insight into creating best practices. Kloppenborg and others (2019).

References

Kloppenborg, T., Anantatmula, V., & Wells, K. (2019). Contemporary project management (4th ed.). Stamford, CT: Cengage Learning

Pinto, J.K. (2019). Project Management: Achieving Competitive Advantage (5th ed). Boston: Pearson.

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