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corporate governance and supply chain

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opi0002:
Hey guys
Just wondering if someone had a good way of explaining these 2 terms. I still don't get them really! Thanks :)

jsimmo:
Here is what I have in my notes:

The supply chain is a system of planning and management of all activities involved in sourcing(finding the required materials) and procurement(buying the required materials), storage of materials and the development of partnerships with suppliers and customers.
It covers the entire flow of materials from suppliers through the workplace to the end customer.

Corporate governance: a term used to describe the system or process by which a company is directed and controlled. Good corporate governance is expected to include ethical and socially responsible management.

I think that the term 'supply chain management' is very important to know because I have a feeling it could pop up in the definition section in this years exam. So make sure you know a solid definition. Good luck

vce01:
^so the definition of supply chain management would just simply start with 'the management in charge of all activities....' and then the rest of your definition, right?

and ive got another Q - explain how planning assists in achieving organisational objectives

i came up with - planning involves the setting of goals and objectives, whether they are short, middle or long term. the carrying out of this management role provides a direction for the employees in an organisation to head towards so that they can all be working collectively to achieve those objectives that have been initially set out.

would that be OK?

opi0002:
thanks so much jsimmo

jsimmo:
vce01 -

I would start my definition off like this: Supply chain management refers to the process of sourcing and procuring all items needed for the efficient running of the organisation. It basically covers the entire flow of materials from suppliers through the workplace to the end customer.

with the planning question.. I think you have mentioned the attributes of 'leading' within your answer. You have said that planning "provides a direction for staff".. all of the stuff related to motivation/vision/direction falls under the role of leading not planning.

I like the start of your response (the definition is good). Maybe you could mention something like this:

Planning refers to the process of determining the goals and objectives of an organisation and the strategies required in order to achieve this. Management would need to ensure that the right planning is undertaken so that the appropriate organisational goals and objectives are set. Furthermore, management would need to implement a clear and direct strategy within their plans to ensure that the right path is undertaken so that the planned objectives and goals are achieved.

It's a tricky question but I think that would be enough for the marks.

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