Closed Loop Supply Chain Roblems and Solution †Free Samples

Question: Discuss about the Closed Loop Supply Chain Roblems and Solution. Answer: Introduction Theoretical significance The research on the topic of closed loop supply chain will focus on the main problems and provide solutions for those problems. As there has been an increase in trend to return products which includes repair and replacement, distribution return, end- of- use return and end- of- life return. Firms can try to reduce the use of hazardous emissions and consumption of energy by reforming the waste management and upgrading the process of material recovery. These practices will reduce waste and pollution to safeguard the environment and also intensify the profitability of the firm, utilization of the asset and sustainable development. This paper will help in the future research work related to closed loop supply chain management and green supply chain management[1]. Practical significance There is an urgent need to combine environment- friendly products into supply chain management practice and research. Scrutinizing the literature showed that a wide reference frame for green supply chain management (GrSCM) is inadequately developed. SCM or supply chain management includes all the activities of logistics management, like, warehousing, transportation, HRM, information and inventory management, along with the manufacturing operations. It also steers the coordination of processes as well as information technology (IT), marketing, finance, sales and product design[2]. Supply chain is important both for the success of the company and customer satisfaction. Customer service is enhanced by keeping up to the expectation of the customers for the correct quality and quantity of the product. The product needs to be delivered at the proper location at the correct time. Retailers need to depend on supply chains for quick delivery of costly products which would save extra time in the stores. Supply chain is important for manufacturers because of reliable delivery of products to the plant for avoiding shortage of material that might lead to shut down. Both the manufacturers and suppliers depend on supply chain managers for designing networks to meet the goals of customer service at a minimum cost. An efficient supply chain enables a firm to participate in the competitive market. Firms also value supply chain managers because they help in decreasing and controlling supply chain costs. This leads to a tremendous increase in the profit of the company[3]. SCM is valued because they are responsible for reducing the use of large fixed assets like, warehouses. They also speed up the product flow to the customers. Human beings also depend on supply chain management to distribute basic amenities like food and water. A small break down in this delivery line can be threatening for human life. Human beings also deliver essentials like medicine and healthcare through supply chain. They depend on energy supply chain to provide electrical energy to homes and workplaces for heat, light, air- conditioning and refrigeration. A failure in logistics can be risky for human life. Societies that have highly developed infrastructure of supply chains can exchange many goods between the company and its consumers at a lesser time and at a low cost[4]. Supply chains are designed to manage warehousing, transportation, packaging, logistics information and inventory management. Some unwanted environmental wastes are produced due to packaging and transportation activ ities of supply chain. The limited amount of energy gets diminished as a result of transportation activities of human and product. The citizens of a country rely on military logistics to protect their life from those who want to end it. They depend on supply chain management for operating and designing food, water supply, medicine, which gives protection[5]. Socio- economic significance Based on the legal, environmental, economic and social factors, closed loop supply chain and reverse logistics have grabbed the attention of the academicians. It is evident because of the large number of research papers being published in the scientific journals in the recent years. Previously the issues with reverse logistics and closed loop supply chain were part of public awareness. But now these are revenue opportunities for manufacturers and retailers of a firm instead of a cost- minimization approach[6]. There are five ways which can make a difference in the socio- economic field: Ensure value for money: the significance of making the most use of budgets and procuring of whole life cost is vital. Developing local capacity and employment: local capacities are created and developed after considering the amount of people still unemployed. Drive innovation: close relationship between suppliers and procurement helps to develop new ideas. Being the role model of ethics and transparency: procuring materials should refer to ethical breaches in the supply chain and evolve systems to prevent them. Ensure sustainability- buying should support and encourage developments in environmental and socio- economic sustainability[8]. Conclusion Logistical support includes product recall, product disposal and product recycling. The objectives for reverse material flow system include the extension of life cycle support to the product. Reverse logistics, a process of transportation of goods in the reverse direction, is done in an effective way to manage cost through an organized network. It is a desegregated system in an organizations supply chain management. Reverse logistics can be done for various reasons like, return of goods for weak performance, rental return of short term, return for repairs, reusable packages, goods not sold, exchange for new products, goods sent for modification and product recycling. It helps in increasing concern for environment pollution, government acts and regulations on recycling of products and waste disposal, rapid consumerism and tough competition. It can be used for various purposes like refilling, re- manufacturing, repairs and re- furbishing, depending on the quality and nature of product, sales volume, unit value and distribution channels. The objective of logistics is to connect the market, distribution network with the manufacturing process and procurement activity to provide best services at a low cost. Logistics management encloses raw materials and other inputs by delivering the final product. References Fallah, Hamed, Hamidreza Eskandari, and Mir Saman Pishvaee. 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