What is Supply Chain and Why is it Important?

What is Supply Chain??

Have you ever wondered how the product gets to the shelves in the store and how the store has what you are looking for? Or how the product arrives at your doorstep just days after placing an order for it? Well, you can thank the elaborate supply chain for all of its hard work and the thousands of employees which make that possible.?

Gartner Glossary defines a supply chain as a

"...group of functions and processes focused on optimizing the flow of products, services, and related information from sources of supply to customers or points of demand."?

There are many moving parts to creating a successful supply chain. Starting from planning a product, sourcing, and gathering the materials, to making the product and delivering it to the customers in a timely manner. There are so many steps in and between each stage which makes this such a fascinating field. I am fortunate enough to attend the number one ranked Undergraduate Supply Chain Program in North America and receive this high-level education from the Walton Honors College. Reflecting back on my first four semesters at the University of Arkansas, I have gained a greater knowledge and understanding of the supply chain as a whole. I have enjoyed every class I have taken, and I have loved applying what I have learned in class to my internship.?

From my first four weeks at Bayer, I have gotten to understand and appreciate the vast supply chain on a whole new level. I have gotten a glimpse at the end-to-end cross-functional aspect of it, and it has been one of the biggest takeaways for me so far. While having a supply chain-related job, you are not only responsible for your job function, but you are also responsible for understanding all of the other moving parts. This requires you to understand the processes from beginning to end. As one job function passes onto another job function in the supply chain, you need to have specific and designated tasks to perform in order to keep things moving smoothly along the chain. Understanding each step in the supply chain and preparing for unexpected delays and problems that arise is key. Sometimes things go awry and knowing how to adjust and adapt at each point is imperative to the vitality of the business. It’s very much like a giant jig-saw puzzle at times and that is what makes this such a fun field of study.

Why is the Supply Chain Important??

The supply chain is crucial for the success of your business and keeps the world running. Now more than ever, it is important for companies to invest in their supply chain departments. As technology continues to evolve, companies can use AI to leverage themselves against competitors to have a faster and more efficient supply chain. At the end of the day, the most successful supply chains are the ones that can quickly act and change their plans due to unexpected problems and issues.

I have learned to love that every day is different when I come to work. As much as you would like for everything to go off without any issues or delays, in this field, you have no idea when your next problem is going to arise. This keeps things fun and interesting around the office. For example, this past week, I have been fascinated to see how my coworkers have been able to maneuver after a malfunction in one of the complex software programs. I was able to watch how quickly the team was able to pivot while the system was down. It was great to see in real time, the actionable steps that were taken to ensure the supply chain wasn’t affected.

Getting to collaborate with your coworkers, brainstorm, and problem-solve together creates a tight bond and community. We never know when the next issue is going to arise, and we are always trying to be proactive in predicting what can go wrong. I have learned the more experience you have in the supply chain world, the more proactive you learn to become and can better anticipate issues.

References

Gartner Glossary, (2023).?Supply Chain. Retrieved from https://www.gartner.com/en/information-technology/glossary/supply-chain?_its=JTdCJTIydmlkJTIyJTNBJTIyMGNlMzk0OGQtYzFjMy00ZjU3LWI2OTktZmNkY2UzZjI5ODUxJTIyJTJDJTIyc3RhdGUlMjIlM0ElMjJybHR%2BMTY4NjU4ODA5N35sYW5kfjJfMTY0NjVfc2VvXzlhY2IwMjk3ZDJmODkwNTZhOGEyMTc3ODg3MmZkOGM0JTIyJTJDJTIyc2l0ZUlkJTIyJTNBNDAxMzElN0Q%3D

Lokad Quantitive Supply Chain, (2020). Supply Chain Management. Retrieved from?https://www.lokad.com/supply-chain-management-definition