Supplier Selection and Business Process Improvement Essay

Supplier Selection and Business Process Improvement - Essay Example This learn looks at the victory that TOFAS-FIAT Corporation has had in running supply chain in Turkey (Bashein, B. J., 2004, 7-13). In a globe where products are copied roughly as soon as they are introduced into the marketplace, building and supporting competitive advantage is a major anxiety for today's CEOs. For this reason, there is a strong link among how firms manage their people and the economic results achieved. Results from studies of five year endurance rates of initial public offerings; studies of productivity and stock price in large samples of companies from manifold industries; and detailed research on automobile, clothing, and other industries shows that considerable gains of approximately 40% can be obtained by implementing high performance management practices. a further purpose of this paper is to gain imminent into supply chain capability and the factors that enhance its development. If members of a supply chain are to thrive jointly they must acknowledge that a learning environment improves the overall effectiveness of the supply chain as well as the abilities of the individual members (Stump , R. L., 2001, 29-48). One important management practice for many companies is the relationship that they have with their suppliers. Supply chain partnerships are relationships between two or more independent entities in a supply chain to achieve specific objectives. Basically, these partnerships are generally created to increase the financial and operational performance of each channel. These objectives are accomplished throug