Submitted by Daniel Dumke on Fri, 2010-12-24 10:51
I wish you happy holidays and a good start in the new year and I hope you enjoy the spare time.
I am signing off for 2010, I’ll be back at January, 3rd. But I picked several noteworthy articles for you to read in the meantime.
Submitted by Daniel Dumke on Wed, 2010-12-22 09:50
How to Get Value Out of Your Returns
I haven’t written anything about reverse logistics, yet. Mostly because it’s not a focus of in my own research. Nontheless, especially after the holidays returns will be on the mind of many supply chain professionals.
The goal of reverse logistics is to efficiently and effectively handle returned products by establishing infrastructure and processes to accept incoming products and prepare them for resale, reuse, or recycling.
Decisions within a company are not made on pure rational grounds. Assuming that there is the will to make a rational decision, nevertheless limits in information gathering, computing capabilities and memory lead to irrational conclusions (bounded rationality).
So the goal must be to enhance rational decision making and for this end Kaufmann et al. (2009) developed a framework to combat irrationality.
Everybody concerned with the task of developing risk mitigation strategies has a list in his mind of different factors influencing a company’s exposure to risk and if you think about it: those factors are probably related.
Example: The number of suppliers for one component can have a huge impact on risk, but the necessity of a high number of (redundant) suppliers may itself be affected by the trust you built with your main supplier. Both trust and having multiple suppliers affect supply chain risk by themselves, but they are also related.
Experts from research and business alike argue that within the last decades consumers have grown to be a more demanding factor for supply chain management. At the same time manufacturing and supply chain strategies adapted to this development (from lean to agile, see Christopher and Towill, 2000).