(Tiểu luận) logistics and supply chain management (lsic 62)supply chain management at wal mart and its globalexpansion

NATIONAL ECONOMICS UNIVERSITY SCHOOL OF TRADE AND INTERNATIONAL ECONOMICS - - MAJOR RESEARCH LOGISTICS AND SUPPLY CHAIN MANAGEMENT (LSIC 62) SUPPLY CHAIN MANAGEMENT AT WAL-MART AND ITS GLOBAL EXPANSION Name : Student ID : Nguyen Huong Thao 11203659 Class : LSIC 62 Tutor : Tran Thi Thu Trang Ha Noi, 04/2023 NATIONAL ECONOMICS UNIVERSITY SCHOOL OF TRADE AND INTERNATIONAL ECONOMICS - - MAJOR RESEARCH LOGISTICS AND SUPPLY CHAIN MANAGEMENT (LSIC 62) SUPPLY CHAIN MANAGEMENT AT WAL-MART AND ITS GLOBAL EXPANSION Name : Student ID : Nguyen Huong Thao 11203659 Class : LSIC 62 Tutor : Tran Thi Thu Trang Ha Noi, 04/2023 Table of Contents INTRODUCTION 1 The urgency of the topic Research objects Research subjects and scope 3.1 Research subjects 3.2 Research scope CHAPTER 1: SUPPLY CHAIN MANAGEMENT OVERVIEW Concept 1.1 Supply chain concept 1.2 Supply chain management concept 2 Features of supply chain management 2.1 Speedy operation 2.2 Quality standard 2.3 Term 2.4 Cost-effectiveness 3 The role of supply chain management 3.1 For business 3.2 For the economy: .4 CHAPTER 2: OVERVIEW OF WAL-MART CORPORATION AND SUPPLY CHAIN MANAGEMENT AT WALMART Introduction to Wal-mart Corporation 1.1 A brief history of Wal-mart 1.2 Wal-mart’s business model and business strategy 1.2.1 Walmart’s business model 1.2.2 Walmart’s business strategy .7 1.3 Wal-mart supply chain keyfetures: .9 Wal-mart supply chain management 10 2.1 Management of information systems .10 2.1.1 Building retail connection system .11 i 2.1.2 Application of RFID technology .12 2.1.3 CPFR Solutions 13 2.2 Sourcing management 15 2.2.1 Buying strategy 15 2.2.2 Managing supplier relationships 16 2.3 Warehousing management .17 2.4 Transportation Management .18 2.5 Inventory management .19 2.5.1 Application ofinventory management technology .19 2.5.2 Using the "Cross-docking" technique .20 Evaluate of supply chain management of Wal-mart Corporation 22 3.1 Advantages 22 3.2 Disadvantages 24 CHAPTER 3: GLOBAL EXPANSION OF WAL-MART CORPORATION 25 Oppotunities 25 Challenges .25 Solutions 26 Lesson learned by Walmart and proposed solutions for Vietnamese retail business in management supply chain 27 4.1 Lessons learned from Walmart 27 4.2 Proposing solutions for Vietnamese retail business 28 CONCLUSION 31 REFERENCES .32 ii INTRODUCTION The urgency of the topic In today's increasingly integrated and globalized economy, businesses that want to compete successfully need to build their own complete supply chains Developing a complete supply chain will create a foundation for businesses to save unnecessary costs, improve the added value of products, increase the competitiveness of products with competitors And supply chain management will be tied to the elements that make up the supply chain So far, supply chain management activities are being focused by many businesses to increase competitive advantage Recognizing the importance of supply chain management, I decided to choose the topic: "Walmart's supply chain management and its global expansion" Walmart Group is one of the most famous companies around the world with its supply chain, thanks to the efficiency of the supply chain, it always dominates the markets it enters Sam Walton – the founder of Walmart – decided to build a company that caters to the mass market and competes on a price basis Research objects  Know how to use the supply management theory system as the basis for researching and evaluating Walmart's supply chain management activities  Study the model and evaluate the supply situation at Walmart Corporation  Drawing experiences, opportunities and challenges when developing globally Research subjects and scope 3.1 Research subjects Theoretical research project on supply chain management of Walmart 3.2 Research scope - Content scope: supply chain management - Patial extent: evaluate situation at Walmart Corporation CHAPTER 1: SUPPLY CHAIN MANAGEMENT OVERVIEW Concept 1.1 Supply chain concept Supply chain is an economic term that appeared in the late 80s and quickly became popular in the 90s The supply chain includes all matters directly or indirectly related to satisfy the needs of customers The supply chain consists not only of manufacturers, suppliers but also of carriers, warehouses, retailers and customers The supply chain is a network of departments and distribution choices that perform the function of purchasing raw materials; transforming raw materials intofinished and finished products; distributing products to places of consumption Supply chain can be defined as a process of moving inputs from suppliers through storage and transportation to the manufacturer and then from the manufacturer transformingthose inputs into the output of the product moving and storing the product to the distributor and finally to the hand final consumer 1.2 Supply chain management concept Supply chain management (SCM) is the handling of the flow of goods and servicesfrom the raw production of products to the consumer's place of consumption This process requires an organization to have a network of suppliers (acting as links in the chain) to move products through each stage In other words, supply chain management involves planning and managing every supplier, manufacturer, carrier, distributor, retailer, warehousing, and final product delivered to the target market Supply chain management is at the heart of every business The main purpose of supply chain management is to maximize customer value, deliver optimal efficiency, and achieve a sustainable competitive advantage It represents the efforts of supply chain companies to develop and run supply chains in the most efficient and efficient ways possible Features of supply chain management 2.1 Speedy operation Information data exchange systems, such as electronic (EDI), can contribute to the speed of operation through reducing the buyer's order cycle time Information technologies such as EDI and barcodes help manage the flow of goods from the distribution side, such as Document continues below Discover more Logistics from: business Đại học Kinh tế… 41 documents Go to course BAI - 456 13 212 Logistics business 100% (4) GT quản trị chuỗi cung ứng Logistics business 100% (1) Bài tiểu luận môn 16 Logictics công ty… Logistics business 100% (1) VIỆT-BẮC-1 - Ndjdj Logistics business None Bài tập tình anh tuấn Logistics business None Báo cáo logistic VN 174 2021 Logistics None faster picking and dispatch While these electronic technologies are currently being business applied across multiple channels, their use is localized by functionality or some channel membership The supply chain management approach examines the entire channel and exploits the entire technology channel 2.2 Quality standard Quality is judged on customer satisfaction or customer satisfaction with the product Quality can be measured through what customers expect (Example: Using questionnaires, synthesizing answers, and evaluating using the 5-point Likert Scale) Customer loyalty is something that companies need to take care of 2.3 Term The total duration of a business cycle to create products and receive funds is equal to the total number of days of inventory plus the number of days of uncollected debt The replenishment time can be calculated directly from the inventory level If a fixed level of inventory is used, then the inventory period is equal to the level of inventory divided by usage Inventory time will be calculated for each chain in the supply chain (supplier, manufacturer, wholesaler, retailer) and added up to allow time to replenish the stock Another important indicator is the debt recovery period, which ensures that the company has the amount of money to buy and sell products that create a turnover of goods, the debt recovery time must be added to the entire supply chain system as a payment term indicator 2.4 Cost-effectiveness The supply chain management approach implies a channel – a broad assessment of costs to determine the advantage in terms of total costs For example, some channel members may prefer lower borrowing rates, especially when the supply chain includes international channel members Other key areas of analysis are the lowest labor rate, the most efficient process, the most available capital, the lowest cost of capital, the lowest tax rate, the most favorable logistics costs, and most depreciation or other favorable taxes The channel is less coordinated than structured so that each company has its own devices to control costs However, a channel that enjoys lower coststhan its competitors can allocate the savings to more efficient uses, such as research and development, or reduce its prices to customers The role of supply chain management 3.1 For business Supply chain management brings many benefits to businesses, namely: Save costs for businesses: If businesses manage and anticipate risks in the supply chain, they can reduce warehousing costs as well as reduce inventory Because they always provide the best quality services to customers, full distribution andtimely delivery of products to them Create a competitive advantage over competitors: Supply chain accounts for a huge proportion of costs in the operation of businesses, and at the same time is an activity that brings experiences to customers If good governance will help businesses reduce product costs, and at the same time will increase service quality Impact on the development capabilities of the business: Supply chain management has a great impact on the development ability of the business, the ability to dominate the market as well as the credibility of customers Because the supply chain directly affects the feeling of customers when usingservices and products of the business Doing this well can help businesses outpace their competitors in the same industry Some of the other benefits are:  Improve the accuracy of production forecasts  Increase the cost of profit after tax  Reduce the cost of each product  Improve the order supply chain 3.2 For the economy:  Support transaction flows in the economy  Enhance the performance of the economy as a whole  Strengthening the integrationof the economy  Help the economy make more efficient use of its available resources  Contribute to the formation of a comprehensive cooperation culture in business  Contribute to improving customer service; making consumers in general the center of production and business activities In short, from the perspective of the economy, supply chain management brings a healthy business environment, with a win-win philosophy, maximally using resources in society both in terms of people,natural resources therefore, the efficiency of the economy is generally improved