Assignment Sample on M451 Supply Chain Management
Problem 1: Case study of Johnson and Johnson
Introduction
Nowadays each and every business tries to grow with new technologies and management. There is a need to manage the supply chain of the business. So, the company needs to follow the better management process of the supply chain so that it can develop the business of the company and represent it as a reputed company. Here “Johnson and Johnson” is chosen as the case study of this paper. This company is considered as a famous company in America. It is mainly a multinational company which has the involvement to serve the healthcare products among the people who need it. This company has headquarters in New Jersey and New Brunswick. So, the company must need to control the supply chain management in their company to develop their business in a new dimension.
Global network planning and logistics
The company “Johnson and Johnson” is a famous and big company in America. So, the main aim of this company is to expand their business all over the world to make the strong growth of the business (Shen et al. 2019). This company has the largest and most comprehensive business in neurology and orthopedic products. The manager of the supply chain in this company offers an unparalleled depth and breadth of the devices, technologies, programs and services basically depends on the trauma, joint reconstruction, sports medicine, spine, neurological, power tools, cranio-maxillofacial and biomaterials. So, this company has so many products to prepare and serve to the people. The company already has good marketing in the business world. But there is also a need to make advance planning to grow their global network. The “global network planning” manager of this company establishes the activities of the “global network planning” to prepare the products of joint reconstruction step by step to represent it in the market. The manager chooses the fastest technology to catch the nodes of the market by the manufacturing facilities, preparation of the product, packing of the products and then attractive delivery of the product within time. It helps this company to achieve the most of the market shares of the business which in other way helps them to meet the business target, agility objectives and global inventory. So, the company is getting success to drive their service, agility and inventory performance among the market nodes and the manufacturing plants closely with a distribution network of this company globally (Bahroun et al. 2019). EMEA and APAC are considered as the two top networks of the company “Johnson and Johnson” to make a strong global network. This network helps them to expand in their own country in a developed way and also they are able to deliver their products in various countries of the world by their strong networks. The manager implements the six sigma tools and also the Lean tools to their supply chain to improve their network planning globally. All the planning of the global network makes the service of this company faster than before. The Company uses the “temperature controlled logistics” in their business which is basically to assure people about the safety measurements and maintain the security in the pandemic situation. This represents a positive image of this company among the people and grows their business (Kshetri, 2018). This is now showing their interest to make better quality optical lenses which people can use in their eyes to protect it. This is a part of the planning to attract people about their product and a new way of developing the global network with the clients of these products. This is a great idea for them to grow the global network. It is also a part of the supply chain management process of the company to make it more reliable than before. So, the logistics of the company is quite different from other companies which makes it unique in the business world and attracts people to buy their products. This company has the new and advanced planning of the global network which helps it to make so many networks in the different countries to develop their business.
Inventory management
The Management of the inventory is an important part of supply chain management. Inventories are considered as the principal items of the major industrial and trading companies. All the raw materials, preparation of products, finished goods, continuation of the work, supplies of the product by ensuring its availability and other product related works are included in the whole management process inventory. So, the company needs to maintain the accurate processes to ensure the continuity of the products operation of the business enterprise. A minimum availability of the inventory is always required to be maintained by the company so that they can manage any tough situations of the company. As the company “Johnson and Johnson” is a famous company in America and it has the global networks in business so to deliver the product among its own and other countries within time, they need to control the management of inventory. This process does not need the involvement of the extra experts in getting the advice from them but also it mainly needs the appropriate stock of the products (Koberg and Longoni, 2019). So, the superintendents of the stores of this company need to maintain their focus on work to confirm the availability of the products so that the customers do not give any kind of issues about the unavailability of their needy products. It can hamper their business by creating a negative image among their customers. Hence the “physical control” of the inventory can be controlled by the proper responsibility of the superintendent. The accounts person or the financial management person of the company also has a vital part in the inventory management. They need to maintain the ratio between the cost of the inventory processes and the profit of the company from selling products. Otherwise their improper activities are able to make the issues in the current asset of the company which in turn hamper their business (Aitken et al. 2019). So, the accounts or financial person of the company has the partial role to control the management of the inventory. The management process of the inventory is mainly designed by the experts of the company to make a confirmation about the types of goods carried in the stocks of the company to meet the needs of the production, regulate the volume of the investment in goods on the hand, make a investment on them is to kept at a reasonable level, sales while at the same time, etc. These all steps make a strong management in the inventories of this company. As inventory management is basically the process which consists of the cost management and also the product management of the company, it has an important role to help the management of the supply chain of the company. The authority of this company needs to collect the good materials to manage the inventory. As this company mainly prepares the pharmaceutical products of the people, it needs to be made with better materials according to the prescribed materials of the doctors. These product materials need to be checked by the experts to confirm about its safety precautions before preparing it for the usage of the patients. This is also a part of the inventory management which has the ability to develop the business of the company.
Figure 1: Inventory management system
(Source: What-is-an-inventory-management-system-And-how-important-is-for-business)
Use of IT and other technologies
There is the huge use of IT technologies in the business and supply chain management of the company “Johnson and Johnson”. To enable the accurate, interactive, real time and efficient manufacturing processes of the products of this company, the employees make and improve the soloed technologies through the leveraging analytics of the digital platform. It helps this company to improve the prediction about the demand of the customers, optimize the productivity and makes the processes of the supply chain both sufficient and efficient for the company due to the success of the customer satisfaction. There are some other technologies such as high tech tools and medical devices as this is a pharmaceutical product manufacturing company to develop their business in a new way of getting success (Smith et al. 2019). This company is using the “track and trace” sensors in the delivery process of their products. It is also considered as the IT technology which works on the basis of a GPS system. This technology helps it to improve the product delivery and ensure its accurate delivery to the exact clients of this company. This becomes helpful in the product delivery process during the time of the pandemic situation. The technology of high tech tools is used by the authorities of the company to ensure the whole steps from the shipment of the product to the delivery of the products. So, these technologies are basically used to satisfy clients with appropriate and fast delivery. Hence the company gets success by using these technologies in their business to spread it not only in the country but also in the other countries of the world.
Figure 2: High tech tools of the company
(Source: csrwire.press releases/45818-4-high-tech-tools-johnson-johnson)
These tools basically depend on IT technologies. This tool consists of the entire track and also the traceable technologies to know the present situation of the product, the place change of the products to deliver it in the exact place of the clients. So, basically it is all about the delivery of the product with full security of the products in transport and other places. Companies can get the information in the message, emails or other apps in an easy way to get confirmation about the product. They also make medical devices with advanced technologies by their expert employees. These technologies help a lot in their great inventions of medical products. They use IT technologies to count the cost and profit from the products (Garavelli et al. 2018). So, all the IT and other technologies of this company are used to improve the condition of the company by developing its supply chain management.
Figure 3: Device innovation process to develop technologies
(Source: https://jnjinnovation.com/cdi)
Customer service and pricing
The customer service of this company has a good rating from the people of their country and also people from other countries. So, there is no problem about the survival of the customers as they always try to give the best product to the patients and people. The pricing of the products of this company is almost exact according to the quality of the product. But there is a need to reduce the price of the products of this company to satisfy clients with new and attractive services. The company always tries to solve the critical issues of the patients by creating new and better products of orthopedic and neurosurgery. So, the patients are happy to get better service from this company and develop the business of this company. The Company is now trying to invent new products to give more services to the people. So, now this company is involved in the process of making optical lenses for the people. These lenses have the ability to protect the eyes of the people from UV rays and it helps the people by giving the long term sustainability. Almost all of their products have sustainability in their services. So the company gives better customer services by always fulfilling their needs. Their neurosurgery and orthopedic products are very reliable and comfortable for the using purposes of the patient. There is presence of smoothness in the products which supports the stitched portion comfortably (Fugate et al. 2019). This feature of the products makes good customer services of this company and people getting attracted by their better service quality. They also follow the new technologies to give the service within the mentioned time of the various clients and also track and trace the products to ensure its good condition. It helps them to replace the damaged or expired products to give clients good products. The price of the products is set by the experts of the company. So, they try to ensure the profitability of the company from each and every product. But the company needs to reduce the price a little more than before to attract people.
Ethical and environment policy
There are some ethical and environmental policies taken by the authority of the “Johnson and Johnson company” to develop the affordability and access of the products, put a healthy mind and body and the environment in the business and create healthier communities for business. This company is trying to create an honest and open policy of environment to achieve the best work with both integrity and compliantly. This implies the responsible conduct of the employees on a daily basis in the work to ensure the interaction and the decision of the employees in the company. It helps to create open feedback of the employees which is a part of the environment policy to control the better environment of the work in this company by properly cooperating with employees. There is actually no compromise when it comes to the responsibility and ethical practices of the company. So, this company is strict in its ethical practices to make this company more developed than before (Gölgeci and Kuivalainen, 2020). This company represents a solid foundation in its ethical policy based on the value conduction in each and every part of the practices of the business including inspire and engage a diverse of business, how to govern the organization, apply the highest standards of the ethics in the research of the company, act as the stewards of working environment, products for the consumers and also for the patients, maintain the supply chain globally which can supports the mission of the company to advance the business of the company.
Figure 4: Environmental factors of Johnson and Johnson
(Source: assignments/johnson-johnson-macro-environmental-factors-1738-2021.php)
Conclusion and Recommendations
In the above discussion of the supply chain management, there is a discussion about the global network planning and logistics of this company, inventory management of the company, use of IT and other technologies by this company, their customer service and pricing of the products, ethical and environmental policies. All of these are discussed for the case study of the Johnson and Johnson which is a reputed company in America and currently has a huge growth in business by using new technologies and making new products for clients. The company is trying to develop their business at a high level so that it will help them to reach the top in the business world. The supply chain has the ability to maintain each and every part of the business. It mainly consists of all the work of the business like from the buying of good materials to preparing the product to deliver it to the customers. The company needs to make the pricing of the products with proper calculation so that it can attract people by its affordability. The products of this company are not only delivered in America but also it has business outside of their country. So, to maintain the whole business of this big company and delivery of the products within time, they need to include some new and advanced technologies in their supply chain management of the “Johnson and Johnson” company.
Problem 2: Collaborative game theory
“For each of the first five lines” the cost is £400 per month.
“For each of the next five lines” the cost is £300per month.
“For each additional line” the cost is £100 per month.
“Student ID number” is 356713.
Where
a= “The second digit of the student ID number”
b = “The fourth digit of the student ID number”
c = “The sixth digit of the student ID number”
So here, a= 5 and b=7 and c=3
- Let N = {1, 2, …., n} is considered as the arrangement of the players. Some of the other subset S of N is known as the association.
Consider the capacity property in the no played game.
Set establishes a capacity v which assigns a value to each subset of players; for example, “v: 2N→ R.” On the off chance that it operates at the same time, v(S) is the addition of the subset S of N; it is also sometimes predicted that this is the highest increase since we also believe that all N – S behave as one (against the S). The value of the association S is known as v(S). Here anyone can summarize a fraction of the complexities and explore the strategies for achieving harmony as we progress from the stretched out to the normal game.
Basically, for n-player cooperative games in which the focus is on the formation of stable coalitions, we neglect much more and focus just on the useful structure. It is proposed that an organization S can disperse its value v(S) among its members in whatever way they see fit (Zhu and Rass, 2018). As a result, they’re also known as flexible utility games (TU games for the short). The manner of these games are circulated is the main source of the concern like v ({φ}) = 0; v (S) 0 S N.
- The centers “(N, v)” for the game of “Divide the Dollar (rendition 1)” are provided by “{(x1, x2, x3) ∈ mathbbR3: x1 + x2 + x3 = 300, x1 ≥ 0, x2 ≥ 0, x3 ≥ 0}”. This part can handle all incorporates and the symmetric compelling of general praetor allotments of three player in the single result which is sensible. The bit would be “{(x1, x2, x3) ∈ mathbbR3: x1 + x2 = 300, x1 ≥ 0, x2 ≥ 0 , x3 = 0 }” “(.75) (0.0.5.0.5) (0.25.0.5.0.75)” in version 2 of the game (where players 1 and 2 can have 300 jointly). A trapezoid is at the middle of the game. If players 1 and 2 can produce “300 together without player 3” or if players 1 and 3 can collect 300 without player 2, it is clear that the centre is made up of just one component (300, 0, 0). In a three-player game, assuming the players obtain a non-zero distribution each time two players offer an identical piece, it’s easy to see that the part is empty. For this case, the following considerations justify centre purging: Whenever one player achieves a favorable result in the “feasible distribution,” the other two players should drop below 300 and go it alone. Moreover in the last categorization, collusion is usually a viable option.
- Shapley’s value is a concept of reaction used in game theory that involves a fair sharing of the benefits and costs of a crowd of people (Cherkaoui et al. 2019). When at least two players or parties are connected to a system to achieve an ideal outcome or payout, this is known as game Shapley’s value ensures that each artist receives as much or more than if they were recording on their own. Courage is vital as there is no inspiration for artists to associate anyway. Shapley’s appreciation is most relevant when each artist’s commitments are uneven but each individual is working together to get the raise or payment.
“∑i = 1Nλi = v (Ω)” - A decision-making alliance must be strong enough to impose its wishes on the rest of the A key element of our research is that formal agreements are not possible due to the lack of strong and well-functioning organizations (Wang et al. 2019). So there is always a risk. that once a particular alliance has formed and unified power is within reach, a sub-coalition will seek to remove some of the early alliance individuals in order to build up that portion of the assets which have been allocated to itself. Certain size alliances like the URC are likely to emerge. For example, with larger sub-rules (α = 1/2) and an appropriately equivalent distribution of qualifications among people, the URC should have a size of 2k – 1, where k is an integer. (for example 1, 3, 7, 15, …). A comparison equation is used for the size of the decision alliance if α> ½.
Figure 5: Collaborative game theory
(Source: https://www.intechopen.com/chapters/43918)
- The game hypothesis provides valuable information on how groups that share scarce assets can shape their use of assets in different situations. One of the leading research questions on useful game hypotheses is the ability to appropriately acquire the benefits of large associations between players. The answer to this query is tied to an idea of an answer, roughly speaking, a vector that appeals to the label for each and every player. In writing the useful game hypothesis, various layout ideas were suggested depending on various origins of decency (Sartipi et al. 2020). The basic models (exchange games, available utility games and non-adaptive utility games) and the questions and arrangements are addressed: Fixed array, single value array as form and piece value, and reacts to some qualities such as bit. The nice hypothesis game (CGT) models covered in this article favor agreements that involve every artist imaginable and ignore the substantial advances that lead to a union structure. All the calculations should be done with accurate way and with proper steps so that it become understandable easily to the people.
Reference List
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