Operations management or Supply Chain Management (Choose One) Research Paper

Operations management or Supply Chain Management (Choose One) - Research Paper Example Supply chain management is in effect a value chain. That is why the research study undertaken in this paper indicates that it is a management of those relations that add value to the supply chain. There are a number of hardships or interruptions that usually occur in such management of supply chains. But strategic approach to supply chain management helps in overcoming such interruptions or limitations. The strategic approach to SCM facilitates the integrated handling of the functions of the business, especially the procurement function and the logistic functions at the front and at the back ends of the business. As a result SCM comes handy in value creation as well as value addition. But supply chain management has a demerit, as SCM gives prominence to materials management and treats the customer requirements of logistic as an appendix to the business. Michael H. Hugos (2) states that â€Å"Supply chains encompass the companies and business activities needed to design, make, deliver, and use a product or service. Businesses depend upon their supply chains to provide them with what they need to survive and thrive. Every business fits into one or more supply chains and has a role to play in each of them.†i In other words every business action is a process in the supply chain of which it is a link somewhere. The objective is to develop relationships of many such actions whereby products or services are developed and delivered to the ultimate consumer. In simple language supply chain is a network of activities that combines the actions from production or procurement of product or services till its delivery to the consumer. Management of such a network is a tricky affair and only experience hands achieve proficiency in the management of supply chains. It must be understood that â€Å"at the end of the day, supply chain management is a relationship management. A supply

Refer to document Coursework Example | Topics and Well Written Essays - 250 words

Refer to document - Coursework Example Wise financial decisions are the best rewards an investor or a businessman can give to himself for a secure financial future. I think the term behavioral science is too broad in this context. However, it is wise that student 2 explained further by specifying that many bubbles are due to hypersensitive investing among financial industry members. Just as he suggests on the need to be fully aware of the ups and downs of the stock market prior to any investments, I concur with him that investors should not just rely on the positive or negative side of the history of the stocks, but rather take quality time studying the stocks and making possible adjustments whenever necessary. Anchoring, as suggested by this student is indeed a common behavior in the current stock market. This seems to go hand in hand with the views of student 2 on the idea that the history of stocks should not always be a factor to base on while deciding to invest. Going with the crowd is another dangerous move highlighted here. People should learn to assess stocks subjectively and make individual decisions instead of doing what others think is right, simply because markets can never be predictable; they can be defined in different terms by different sectors. Braham, L. (2014, April 7). How Money Managers Fight Their Emotions and Sometimes Lose. Bloomberg.com. Retrieved October 28, 2014, from