Essay Title: 

: Introductory report on a product for which Supply Chain Management is important using desk research

March 24, 2016 | Author: | Posted in management, mathematics and economics

Running Head : Supply-Chain Management

Supply-Chain Management in the Toy Industry – Barbie (R ) as Industrial Example

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The supply chain management can best be describes as , the management of the entire value-added chain , from the supplier to manufacturer right through to the retailer and the final customer . The three primary goals of supply chain management are to reduce inventory , increase the transaction speed by exchanging data in real-time , and increase sales by implementing customer requirements more efficiently (http /www .x-solutions .poet .com /eu /newsevents /glossar p [banner_entry_middle]

In addition , it has also been stated that , supply chain management (SCM ) is the oversight of materials , information , and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer (http /www .creotec .com /index .php

Similarly it can also be defined as , the delivery of customer and economic value through integrated management of the flow of physical goods and associated information , from raw materials sourcing to delivery of finished products to consumers (http /www .viradix .com /terminology .html

According to Del Vecchio (2003 ) the toy industry is one of the oldest creative industries of our time . The toy business is very vast in nature . The Toy Industry Association , Inc . has divided the entire industry into two broad categories : The Traditional Toys (Dolls , Plush Action Figures , Building Bricks , Vehicles , Puzzlers , etc ) and Video Game (Toy Industry Association , Inc , 2004

It has been stated by , Wong et al (2005 ) that Volatility in the toy industry is caused by variable and unpredictable demands , very short and specific selling-windows and short product-life-cycles . Therefore investors and practitioners know very well that the toy industry is far from tranquil . The toy industry has incurred relatively higher costs on obsolete inventory , lost sales and markdown as compared to other industries . These are the typical consequences of volatility in the toy supply chains , akin to the fashion clothing industry . To survive , these industries face a very unique challenge that is to provide the right toys at the right quantity at the right stores during the very short selling-windows and to frequently provide creative and yet price-competitive toys . These volatile conditions cause high investment skepticism and forecast ambiguity among retailers and manufacturers . As a result , sourcing , production , distribution , and retail practices in volatile toy supply chains can be significantly different from other less-volatile industries

In to fully understand our product , it is important to know its history and background . In the 1950 a marketing executive and homeowner by the name of Ruth Handler came across a German doll while on a holiday vacation . The doll was called `Lilli ‘ and was made out of hard plastic mould . The doll had a number of beautiful features , such as shoes and earnings , which was likely to endear her to girls all over the world The doll had long blond hairs that were pulled back in a ponytail and it came with a complete wardrobe (own wardrobe . It was on the basis of this doll that… [banner_entry_footer]

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