Global Supply Chain
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- Date Submitted: 02/20/2015 06:19 AM
- Pages: 12
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Executive Summary
The main purpose of this academic study is to critically compare and contrast the cost reduction strategies used in Supply Chain Management to remain sustainable, competitive, reliable and efficient in maintaining position as top players and how this is duplicated in the shipping industry in Singapore.
In Singapore, MPA (Maritime Port Authority) operates PSA (Port of Singapore Authority) and Jurong port. Together both the ports offer shipping related services to attract many shipping liners and freight forwarders.
Port faces a great deal of challenges in overall daily processes or functions such as planning, infrastructure, labour and also administrative work. Therefore, there is a need to operate at optimum level to be able to satisfy customers at great extent as well as remain afloat and competitive within the region.
Based on the above hypothesis, 2 separate task studies are undertaken to examine the viability of relationship between cost reduction strategies to achieve green strategies in global maritime logistics and simultaneously studying the role of information technology (IT) in cost reduction strategies to achieve the same.
The major findings are outlined below supported by theories and strategies from academic journal articles.
Task 1
1.1 Lean Initiatives being practised to reduce wastage and increase productivity.
Lean initiative is a process to describe work procedure or flow which increasingly cuts wastages at every level possible to achieve high performance and better productivity and quality.
Leans initiative also known as JIT (Just in time) or “Pull” system, functions in such a way that movement of products are initiated only when there is a need for it eliminating any idle time which is not productive and does not add value to customer.
JIT (just-in-time) and Lean are approaches that focus on improving process efficiency and resource usage (Wedgwood 2007).
The diagram below (Figure 1),...
The main purpose of this academic study is to critically compare and contrast the cost reduction strategies used in Supply Chain Management to remain sustainable, competitive, reliable and efficient in maintaining position as top players and how this is duplicated in the shipping industry in Singapore.
In Singapore, MPA (Maritime Port Authority) operates PSA (Port of Singapore Authority) and Jurong port. Together both the ports offer shipping related services to attract many shipping liners and freight forwarders.
Port faces a great deal of challenges in overall daily processes or functions such as planning, infrastructure, labour and also administrative work. Therefore, there is a need to operate at optimum level to be able to satisfy customers at great extent as well as remain afloat and competitive within the region.
Based on the above hypothesis, 2 separate task studies are undertaken to examine the viability of relationship between cost reduction strategies to achieve green strategies in global maritime logistics and simultaneously studying the role of information technology (IT) in cost reduction strategies to achieve the same.
The major findings are outlined below supported by theories and strategies from academic journal articles.
Task 1
1.1 Lean Initiatives being practised to reduce wastage and increase productivity.
Lean initiative is a process to describe work procedure or flow which increasingly cuts wastages at every level possible to achieve high performance and better productivity and quality.
Leans initiative also known as JIT (Just in time) or “Pull” system, functions in such a way that movement of products are initiated only when there is a need for it eliminating any idle time which is not productive and does not add value to customer.
JIT (just-in-time) and Lean are approaches that focus on improving process efficiency and resource usage (Wedgwood 2007).
The diagram below (Figure 1),...