Author Question: To what extent have the seven principles of supply chain management remained current? What are some ... (Read 83 times)

hubes95 · **on:** Jun 28, 2018

To what extent have the seven principles of supply chain management remained current? What are some of the major changes that have occurred since they were first developed?

Question 2

As Quentin checks out of a hotel, he recalls the expectations of quality and service he had upon arriving at the hotel and realizes that based on those expectations he is not thrilled with his experience. The type of purchase by Quentin is best described as
a. quality
b. credence
c. search
d. experiential

bdobbins · **Reply #1 on:** Jun 28, 2018

Answer to Question 1

Anderson's assessment is captured in the following points:
In response to the comment that the insights (from this article) remained remarkably fresh 10 years later, lead author Dr. David L. Anderson wrote that he went back and reread the article to see if he agreed. His assessment is captured in the following points:
1 . The seven principles basically survive the test of time. Although I might include some thoughts around global supply chain risks, add a section on insourcing/outsourcing strategies, update the case studies, and tighten up the procurement strategy discussion, I still believe companies cannot go wrong by adopting these principles as the basis of their supply chain strategies.
2 . We still have a long way to go on supply chain strategy implementation. The fact that the principles are still relatively fresh implies that many companies have not done the best job implementing strategies that underlie the principles.
3 . Technology and data will be the major game changer going forward. UPC, RFID, and GPS-related data were not around when we wrote the article. The growing availability of real-time supply chain data as well as the tools to enable us to use the data in planning and executing supply chains will be the key factor that separates the winners and losers in supply chain management over the coming decade.
Now that we are nearly another 10 years past the original publication of this timeless article, it is clear that these seven principles continue to be highly relevant to the contemporary challenges related to managing effective supply chains.

Answer to Question 2

d