Answer to Question 1
Supply chain event management tools collect data in real time from multiple sources across the supply chain and convert them into information that gives business managers a clear picture of how their supply chain is performing. These systems monitor the supply chain for events that are out of tolerance, such as a shortage of parts at a manufacturing location or the breakdown of a truck delivering an important order. When exceptions occur, the system notifies a decision maker by e-mail, pager or fax who can then take an action to correct the problem.
As the geographic scope and number of companies involved in a supply chain grow, the ability to monitor activities exceeds manual capabilities. Hence, supply chain event management tools are becoming more important, and more organizations are turning toward these solutions to help them detect, evaluate, and resolve issues before they snowball into major problems. Some systems have built-in work flow rules that suggest solutions to the exception or initiate action based on established guidelines. Although they were once considered stand-alone applications, event management and visibility solutions are today increasingly integrated into other applications.
Answer to Question 2
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Fundamentals of Management: Essential Concepts and Applications
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