Financial Decicisions in Advanced Business Logistics Forum-Tong Tong 1/2

Assignment: Respond to the below classmate forum post taken from a Advanced Business Logistics course and perspective of a fellow classmate. The objective is to acknowledge the correct portions and give positive constructive criticism regarding the answers of the fellow classmates response to these forum question requirements within the scenario(s) described below:
Week 2 Financial Decisions:

Forum- You may pick out one topic or several topics to discuss. The initial post must include in text citations and a reference list. Each week the initial post will include a reflection and conclude with a question for the other students to ponder.

To be considered substantive, your reply should add significantly to the discussion by building on others’ comments, pointing out similarities or differences in your backgrounds or course expectations, etc. One or two sentence responses such as “Hi, welcome to the course!” or “I feel the same way” are not acceptable.

Classmate Response to Advanced Business Logistics Week Two Financial Decisions:

New! Financial Decisions

Supply Chain Process is a three-legged stool, which involves the flow of product, information and finance. Dwight Klappich mentioned: the supply chain is more effectively by synchronizing the three-legged stool (Poirier, 2010, pg. 56). The SCM starts when customer puts in an order. Once the order is initiated, it goes through manufacturing, packing, labeling, and shipping. The process ends when the customer receives and satisfies the goods or services. In the past many years, organizations always keep their supplies, labor and resources internally and not willing to share with other businesses. Now, SCM offers businesses with many options to improve or transform their conditions strategically to the next higher level, such as decision making, financial analysis, outsourcing, containerization, technology innovation, and transportation methods, etc.

Financial supply chain management is one of the effective tools and processes that help the organizations to find the quickest paths to minimize the wastes, and achieve the maximum value with the least cost. FSCM involves many financially analysis, such as inventory, pricing, investment capital, pay and market forecasting. “With the involvement of the financial counterparts, supply chain decision-makers can identify the value that accrues from improving transactions with suppliers, distributors, and customers across the business enterprise” ((Poirier, 2010, pg. 56). For instance, military is operated by budgets. As Logistic specialist, we are in-charge many different funding for organizational use. Every dollar we spent has to be obligated, and closely monitored through FASDATA (an online supply chain tool), i.e. how much we spent and how much we left in this month/quarter/year. Also, based on the operating capacity, the amount of funding can be various each cycle; any unmatched funding will be identified and investigated. On the financial site, how does it affect transportation?

Reference:

Poirer, C., Quinn, M., Swink, F. (2010). Diagnosing Greatness. ProQuest. Retrieved from http://site.ebrary.com/lib/apus/reader.action?docID=10520103

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