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what is the right supply chan for your product 2.24.docx

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Taryn Neals GSC 355 Professor Haksever February 26, 2018 What is the Right Supply Chain for Your Product? Technology has played a huge part in supply chain over the past years. However, performance has never been worse as companies are unable to define what supply chain works best for their product. They are unable to properly predict demand leading to an excess or a shortage of products. Marshall L. Fisher states that the first step is to determine the nature of the product’s demand: is it functional or innovative? A functional product is stable and will not change too much overtime. This can lead to low profit margins as customers do not want to spend much more than the average competitor. An innovative product can lead to higher profit margins but can cause demand to be unpredictable. Because the life cycle is short, companies will have to constantly create newer and innovative products. A supply chain can be divided into two main functions. It can either be physical or it can have a market mediation function. A physical supply chain is when you convert raw materials into finished goods. The demand is predictable, the utilization rate is high, inventory is low, but
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