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Supply Chain Management:
Supply chain management has become one of the central topics of operations management in recent years. The supply chain “encompasses all activities associated with the flow and transformation of goods from the raw material stage (extraction), through to the end user, as well as the information flows.”25 Its stakeholders include employees as well as a variety of suppliers and customers such as vendors, banks, distributors, transportation and logistics companies, warehousers, and wholesalers. Any individual or group that plays a key role in creating value for a firm and/or getting that value to the customer is part of the sup- ply chain. The supply chain tasks span information systems, sourcing and procurement, production scheduling, order processing, inventory management, warehousing, and customer service. Supply chain management refers to the integration and management of all the elements of the supply chain, including upstream and downstream stakeholders.
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1. How does ethics relate to the supply chain and many of the challenges posed there for companies?
2. What kind of practical guidance would you offer managers of operations?