Sharing information in supply chains
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I will allow you to write a 2-3 page summary of a current supply chain topic from any company you choose that is related to one of the chapter topics(The Supply Management Handbook, 7th Ed (7th Edition)
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Sharing information in supply chains
Introduction
Distributing the order based processed data among the supply chain personnel will give delayed and an exaggerated image of the clients demand. Also, it will maximize the demand accordingly and variability the needs for secured stock. Accuracy in the future demands for information such as forecasting, point of sale data, and customer stock balances will always be present from the stand point of customers. If the demanded information reaches to the suppliers and they are able to use the information to its planning processes, it will have an opportunity or a new chance to optimize customer’s services and at the same time reduce the inventory cost.
For the company to gain from the forecasted oriented information, it is necessary for the company to comprehend the various types of planning information in various contexts.
Concept of sharing information
Supply chain personnel are able to connect with other personnel of different companies and be able to share out the information. To share out the information, it must be an activity while the visibility will have to be a potential result of the processed data sharing that will led to an efficient and effective supply chain, (WANG, 2011).
This concept of sharing information is mostly used when narrating the access to information from the specific locations where the goods will be distributed from, also from the suppliers and lastly to the customer who will consume the goods. This kind of information can be recorded or tracked using radio frequency identification and the use of bar code application. Information distribution can be utilized with references to help obtain information which will be utilized to maximize the control of materials flow. This kind of information is recognized as planning information. The planning information can be either supply related or demand related. The demand related information includes information that is shared between suppliers and clients; customers orders, point of sales, forecasting and available customers orders or stock. For supply related information, it includes supplier stock, advanced notices and delivery that are expected to be delayed.
The value of sharing various types of planning information
Scholars argue that sharing of different information will help an organization to be making dynamic solutions. The solutions will be non stationary in demand and will be in systematic trends. This will be of high value if the demand’s variance will be high; clients will be more reliable than the supplier’s correlation. Also, at times the planning information both the demand related information and then supply related information will mean that the supplier’s inventory will be considered but r the customers; they have to release new replenishments for them.
The value of information sharing
Sharing network have an outcome on the value of the information been shared. It is deduced that the value of information been shared does at times decrease if the sample of retailers increases and vice versa. It can be expressed from a notion of the fact that the bigger population of retailers, the more random variation demanded tends to even out, will reduce the value of the information. The value of information sharing might be affected by whether if the information been shared among only some limited numbers of a organization’s customers or many small customers. It can be concluded that the value of the information sharing will differ depending on whether the information been shared is demand is stationary or non-stationary, (GANS, 2012)
References
Wang, John. Information Systems and New Applications in the Service Sector: Models and Methods. Hershey: Business Science Reference, 2011. Print.
Gans, Joshua. Information Wants to Be Shared. Boston, Mass: Harvard Business Review Press, 2012. Print.
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