Does Crayola have efficient or responsive supply chains or both?

Category: business and finance logistics
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Thus it can be said that Crayola has both the efficient and responsive supply chain of management. The Crayola Company has two options in terms of supply chain and manufacturing. The company can choose the manufacturing in America and create their supply chain China.

Furthermore, can a supply chain be both efficient and responsive?

An effectively managed cash supply chain must be efficient and responsive at the same time. Responsiveness can be defined as the ability of the supply chain to respond purposefully and within an appropriate timeframe to customer requests or changes in the marketplace.

Beside above, what is the difference between an efficient and a responsive supply chain and the business context for which each works best? A firms ability to satisfy customer requirements in a timely manner is referred to as Responsiveness, while efficiency is a firm's ability to deliver goods in accordance with the customer's expectations with least wastage in terms of raw materials, labour and cost.

Thereof, what is the difference between and efficient and a responsive supply chain?

We characterize supply chains as efficient or responsive. Efficient supply chains are able to deliver products at a low cost, while responsive supply chains are capable of responding quickly to changing con- sumer needs.

What is an efficient supply chain?

An efficient supply chain makes the best use of its resources — financial, human, technological or physical. By doing so minimizes costs for materials and packaging and reduces time wastage.

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What are responsive supply chains?

A responsive supply chain is one that is sensitive to meeting customer requirements. For example, an online computer hardware assembler may update their product range every 90 days, when the new models, which may have increased performance, will be at lower prices than the models they replaced.

What are supply chain strategies?

Supply chain strategy is an iterative process that evaluates the cost- benefit trade-offs of operational components. Business strategy involves leveraging the core competencies of the organization to achieve a defined high-level goal or objective.

How do you create an effective supply chain?

The 5 essential stages in developing a successful supply chain
  1. Stage 1: Plan. Planning involves a wide range of activities.
  2. Stage 2: Source. This aspect of supply chain management involves organizing the procurement of raw materials and components.
  3. Stage 3: Make.
  4. Stage 4: Deliver.
  5. Stage 5: Return.

What are the types of supply chain?

The 6 supply chain models are:
  • The continuous flow models.
  • The fast chain models.
  • The efficient chain models.
  • The custom configured model.
  • The agile model.
  • The flexible model.

What are the drivers of supply chain performance?

Facilities, inventory, transportation and information are the four major drivers of the supply chain. The performance of any supply chain can be measured on the basis of the drivers that run it.

What is risk hedging supply chain?

What is Risk-hedging Supply Chain. 1. A resilient supply chains that are able to hedge against supply, demand, and price risks by applying a variety of financial and contractual tools.

What is a supply chain information system?

A supply chain management (SCM) system manages the flow of products, data, money, and information throughout the entire supply chain, which starts with the suppliers of raw materials, runs through the intermediate tiers of the processing companies, and ends with the distributors and retailers.

How can you improve supply chain efficiency?

Here are some ways to empower your workforce, suppliers, clients and consumers to create a more efficient supply chain:
  1. Communicate Efficiently.
  2. Train Your Workforce Comprehensively.
  3. Increase Information Sharing and Visibility.
  4. Analyze Information to Meet Customer Needs.
  5. Nurture Innovation In Partnerships.

What is agile supply chain?

Combined, they define what an agile supply chain is: a system of product distribution that is concerned with doing things quickly, saving costs, being responsive to the market and consumer demands, maintaining flexibility, and keeping productivity at all-time highs. With agile supply chain, flexibility is key.

What is bullwhip effect in supply chain management?

The bullwhip effect is a distribution channel phenomenon in which forecasts yield supply chain inefficiencies. It refers to increasing swings in inventory in response to shifts in customer demand as one moves further up the supply chain.

What is supply chain profitability?

Supply chain surplus, also known as supply chain profitability, is a common term that represents value addition by supply chain function of an organization. Supply chain surplus is the total profit shared by all the stages and intermediaries. The greater the supply chain surplus, the more successful the supply chain.

What is implied demand uncertainty?

Difference: demand uncertainty reflects the uncertainty of customer demand for a product, whereas implied demand uncertainty is the resulting uncertainty for only the portion of the demand that the supply chain plans to satisfy (customer needs).

What is lean and agile supply chain?

The difference between lean and agile is the fluidity with response to the market. A lean supply chain focuses on cutting costs by producing high volumes of products with low variability. An agile supply chain focuses on responding to the market demand with smaller, customizable batches of items.

What is sustainable supply chain management?

Sustainable supply chain management involves integrating environmentally and financially viable practices into the complete supply chain lifecycle, from product design and development, to material selection, (including raw material extraction or agricultural production), manufacturing, packaging, transportation,

How is supply chain effectiveness measured?

DOS is the most common KPI used by managers in measuring the efficiency in supply chain. It is calculated by dividing the average inventory on hand (as value) by the average monthly demand (as value) and then multiplying it by thirty, when measuring on a monthly basis.

What are KPIs in supply chain?

Essential Supply Chain KPIs
Selecting the right key performance indicators for supply chain analytics isn't an exact science by any means. It's a process that requires companies to clearly identify goals and then develop the performance indicators that allow you to track your progress towards those goals.

What are metrics in supply chain?

Supply chain metrics are defined by establishing specific parameters which are used in quantifying and defining supply chain performance. The metrics can be utilized in the inventory accuracy and turnover metrics, to the inventory-to-sales ratio.