Supply chain management in the hospitality industry involves managing the flow of goods and services from suppliers to customers. It focuses on product management, information flow, and financial processes. Effective supply chain management provides benefits like lower prices, improved technology, and prioritizing customer needs. Key factors include stock control, quality management, logistics, and product innovation. Developing a successful supply chain requires planning production and sourcing, managing deliveries, and addressing returns. During the pandemic, supply chain leaders prioritized at-risk suppliers, analyzed extended supply chains, increased inventory buffers, and identified alternative supply routes.
Supply chain management in the hospitality industry involves managing the flow of goods and services from suppliers to customers. It focuses on product management, information flow, and financial processes. Effective supply chain management provides benefits like lower prices, improved technology, and prioritizing customer needs. Key factors include stock control, quality management, logistics, and product innovation. Developing a successful supply chain requires planning production and sourcing, managing deliveries, and addressing returns. During the pandemic, supply chain leaders prioritized at-risk suppliers, analyzed extended supply chains, increased inventory buffers, and identified alternative supply routes.
Supply chain management in the hospitality industry involves managing the flow of goods and services from suppliers to customers. It focuses on product management, information flow, and financial processes. Effective supply chain management provides benefits like lower prices, improved technology, and prioritizing customer needs. Key factors include stock control, quality management, logistics, and product innovation. Developing a successful supply chain requires planning production and sourcing, managing deliveries, and addressing returns. During the pandemic, supply chain leaders prioritized at-risk suppliers, analyzed extended supply chains, increased inventory buffers, and identified alternative supply routes.
Supply chain management in the hospitality industry involves managing the flow of goods and services from suppliers to customers. It focuses on product management, information flow, and financial processes. Effective supply chain management provides benefits like lower prices, improved technology, and prioritizing customer needs. Key factors include stock control, quality management, logistics, and product innovation. Developing a successful supply chain requires planning production and sourcing, managing deliveries, and addressing returns. During the pandemic, supply chain leaders prioritized at-risk suppliers, analyzed extended supply chains, increased inventory buffers, and identified alternative supply routes.
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Supply chain management in Hospitality
Supply chain management is a whole system management of the operation
of goods and services and includes all of the production that transform raw materials into final products.
The focus of SCM is split into three different categories:
PRODUCT - includes the timely formation, storage, and delivery of
products along the supply chain. It also involves conducting quality assurance at each product location.
INFORMATION - consists of sending and receiving sales and purchase
orders and updating delivery statuses. This workflow must run smoothly because all the other workflows depend on the accuracy of the information transmitted throughout the supply chain.
FINANCES - deals with payments, inventory management, billing, credit
terms, and other finance workflows. Allocating the financial resources of the company is the primary concern of this.
THE BENEFITS OF SCM IN HOSPITALITY
1. Getting the Best Prices Possible
2. Technology is Helping to Make It Easier 3. Consumables in Hospitality 4. Putting Your Customers First
ESSENTIAL FACTORS OF SCM
Stock control Technology Outsourcing Quality management of materials Product innovation Logistics
5 ESSENTIAL STAGES IN DEVELOPING A SUCCESSFUL SUPPLY
CHAIN
Stage 1: Plan Make or buy?
Stage 2: Source Is the procurement organized? How may the supplier's performance be described? Stage 3: Make How's the production and delivery of service? Stage 4: Deliver How do you handle the deliveries? Stage 5: Return How do you manage the defective products? How do you handle service failures? COMPONENTS OF SUPPLY CHAIN
1. Planning 2. Information 3. Source 4. Inventory 5. Production 6. Location 7. Transportation 8. Return of goods
THE ROLE OF A SUPPLY CHAIN MANAGER
1. Communication 2. Transportation 3. Planning and Analysis 4. Inventory Control 5. Management
SUPPLY CHAIN PRACTICES IN HOTEL
Efficient and effective Supply Chain Management is essential for reducing
costs by developing and implementing clear contracts and agreements with suppliers of hospitality products and services, securing for the hotel's competitive prices of goods and services - food and beverage, rooms, or property operations.
Through professional Supply Chain Management, every supplier is loyal and
committed nationally negotiated contract pricing and top-quality product and service standards.
ACTIONS OF SC LEADERS DURING PANDEMIC
prioritizing high-risk suppliers by geography, industry-sector,
commodity and business value ✔ analyzing and understanding the supply chain beyond Tier 1 Suppliers to familiarize with the exposure to affected countries ✔ building inventory of stocks around own stores to reduce impact from port delays not relying on forecasted information/data or existing stock levels ✔ computing for the stock tolerance over the predicted 'at risk’ period ✔ keeping communication channels open and flexible with key suppliers ✔ looking for an alternative supply and transportation routes factoring in increased travel time to alternative ports ✔ reviewing travel plans and maximizing the use of digital technology (i.e. teleconference, webinar) ✔ calculating additional costs, such as non-delivery to customers
