Information Flow in a Supply Chain

00:05:20
https://www.youtube.com/watch?v=B2rqD132oew

الملخص

TLDRIn this video, Professor Wolters explains the flow of information in a supply chain using Hostess cupcakes as a relatable example. He outlines how information travels from customers to stores, from stores to corporate buyers, and from buyers to manufacturers. The professor emphasizes the importance of effective communication within the supply chain to avoid issues like over-ordering and inefficiencies. He also discusses the potential for direct communication between stores and manufacturers, as well as the role of distribution centers. The video concludes with a personal note about the professor's kids enjoying the cupcakes, highlighting the real-world impact of supply chain efficiency.

الوجبات الجاهزة

  • 🛒 Information flows from customers to stores when purchases are made.
  • 📦 Stores communicate inventory needs to corporate buyers.
  • 📞 Buyers place orders with manufacturers based on store sales.
  • 🏭 Direct communication can occur between stores and manufacturers.
  • 🚚 Distribution centers play a key role in the supply chain.
  • ⚠️ Poor communication can lead to over-ordering and inefficiencies.
  • 📊 Effective communication is vital for supply chain success.
  • 🍰 Real-world examples help illustrate supply chain concepts.
  • 👨‍👧‍👦 Personal anecdotes make the topic relatable.
  • 💡 Understanding supply chain dynamics can improve business operations.

الجدول الزمني

  • 00:00:00 - 00:05:20

    Professor Wolters discusses the flow of information in a supply chain using Hostess cupcakes as an example. He explains how information travels from the customer to the store when a purchase is made, highlighting the importance of communication between the store and its corporate buyer regarding inventory levels. The flow continues from the buyer to the manufacturer, where orders for more products are placed. Additionally, he mentions the possibility of direct communication between stores and manufacturers, bypassing middlemen like wholesalers or distribution centers. Effective communication is emphasized as crucial to avoid over-ordering and ensure that supply chain operations run smoothly. The discussion concludes with a reminder of the importance of clear communication channels in managing supply chains effectively.

الخريطة الذهنية

فيديو أسئلة وأجوبة

  • What is the main topic of the video?

    The flow of information in a supply chain using Hostess cupcakes as an example.

  • How does information flow from customers to stores?

    Customers communicate their purchases by scanning products at the checkout.

  • What role do corporate buyers play in the supply chain?

    Corporate buyers receive information from stores about inventory needs and place orders with manufacturers.

  • Can stores communicate directly with manufacturers?

    Yes, stores can communicate directly with manufacturers, bypassing buyers or distribution centers.

  • Why is effective communication important in the supply chain?

    To prevent over-ordering and ensure all parties are informed about inventory needs.

  • What example does the professor use to illustrate supply chain communication?

    He uses the example of ordering Hostess cupcakes.

  • What can happen if communication fails in the supply chain?

    It can lead to over-ordering, resulting in excess inventory.

  • What is the significance of distribution centers in the supply chain?

    They facilitate communication and distribution between manufacturers and stores.

  • How does the professor relate supply chain communication to everyday experiences?

    He compares it to ordering an Uber ride and the confusion that can arise from poor communication.

  • What is the professor's personal note at the end of the video?

    He mentions that his kids love the limited edition mint chocolate cupcakes.

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الترجمات
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التمرير التلقائي:
  • 00:00:00
    Hey there fellow marketers, Professor Wolters here.
  • 00:00:02
    And today what we're going to do is talk about some of
  • 00:00:05
    the ways that information flows through a supply
  • 00:00:08
    chain via Hostess cupcakes.
  • 00:00:11
    Okay?
  • 00:00:11
    'Cause I figured this is something we can all understand
  • 00:00:14
    and really focus on today are some chocolaty goodness and
  • 00:00:17
    with a little mint flavor.
  • 00:00:19
    Why not?
  • 00:00:19
    Okay.
  • 00:00:20
    Anyway, the first flow of information I want to talk
  • 00:00:22
    about is when information flows from the customer to the store.
  • 00:00:27
    So when I was at the grocery store and I've picked these
  • 00:00:29
    things up, I walked up to the, walked down the aisle,
  • 00:00:32
    go to the cashier, gave it to her, and then she scanned
  • 00:00:34
    my universal product code.
  • 00:00:36
    Right?
  • 00:00:36
    And that communicated to them that, yes, I'm buying this.
  • 00:00:40
    So you have that information flow there,
  • 00:00:42
    which is pretty obvious.
  • 00:00:43
    But the thing is there's other ways that, that information
  • 00:00:46
    flows because now the store that I bought this from, they then
  • 00:00:50
    need to communicate to their corporate buyer maybe, then
  • 00:00:53
    say, hey, look, we sold another box of our Hostess cupcakes.
  • 00:00:57
    We might need to order some more.
  • 00:00:58
    So we have to communicate to them that hey, we might be
  • 00:01:01
    running low on our inventory, so you need to buy some more.
  • 00:01:03
    So you're gonna be communicating to your buyer 'cause some
  • 00:01:06
    companies, some stores, they don't buy themselves.
  • 00:01:09
    They have a, maybe a regional buyer or something like
  • 00:01:11
    that, that buys for them.
  • 00:01:13
    And so you have to think about that information
  • 00:01:15
    flowing back and forth.
  • 00:01:16
    Because we all know nobody wants to go to store for
  • 00:01:19
    our Hostess cupcakes, and there's none of them there.
  • 00:01:21
    Of course not.
  • 00:01:22
    And then from there we might look at it in terms of the
  • 00:01:24
    information flow goes from the buyer to the manufacturer.
  • 00:01:28
    So this is when the regional buyer from my grocery
  • 00:01:31
    store calls up Hostess and says, Hostess, we
  • 00:01:34
    need some more cupcakes.
  • 00:01:36
    Give us a few pallets of them, okay?
  • 00:01:38
    And when you think about it, information flows back and
  • 00:01:40
    forth in each one of these directions, because I buy the,
  • 00:01:43
    I buy the Hostess at the store.
  • 00:01:44
    They, I tell that information to them.
  • 00:01:46
    They also tell me information about the prices.
  • 00:01:48
    So we have some information going back and forth that way.
  • 00:01:51
    The store to the buyer, there's information that was saying,
  • 00:01:53
    hey, we sold more stuff, the-the buyer might tell the store, hey,
  • 00:01:56
    we've got more stuff coming.
  • 00:01:57
    So you information flowing, going back and forth there.
  • 00:02:00
    Then if you look at it for the-the buyer to the
  • 00:02:02
    manufacturer, hey Hostess, we need more, and Hostess
  • 00:02:05
    could be saying, hey, we got more coming on your way.
  • 00:02:07
    You have those kinds of information flows that way, but
  • 00:02:10
    sometimes you don't necessarily have to go through a buyer or
  • 00:02:15
    a wholesaler or a distribution center, something like that,
  • 00:02:19
    which you might end up doing to see a store might communicate
  • 00:02:22
    directly with the manufacturer.
  • 00:02:24
    Maybe you've heard of manufacturer direct betting.
  • 00:02:27
    Yes.
  • 00:02:28
    That is information flow from the supply chain, ie.
  • 00:02:30
    the retailer, the store to the manufacturer of the
  • 00:02:33
    actual furniture saying, hey look, we need a king size
  • 00:02:36
    bed for an extra chunky guy.
  • 00:02:38
    Oh, right.
  • 00:02:39
    And so they're communicating that way.
  • 00:02:41
    So you can have that, kind of, information flow as well.
  • 00:02:43
    And of course, then the manufacturer may say,
  • 00:02:45
    hey, we're shipping some of our beds to your store
  • 00:02:48
    and be ready for them.
  • 00:02:49
    So you can see the information flowing from that manufacturer
  • 00:02:52
    back to that in-store, if we're cutting out the middlemen.
  • 00:02:55
    But the thing is we don't want to leave out the middleman or
  • 00:02:58
    the distribution centers, the wholesalers because what you
  • 00:03:01
    might see is sometimes the store might be communicating directly
  • 00:03:04
    with the distribution center saying, you know, instead of
  • 00:03:07
    calling up the buyer, calling up Hostess directly, maybe
  • 00:03:10
    you just calling your local, you know, distribution center
  • 00:03:13
    saying, hey, we're running low, could you run a few pack-,
  • 00:03:16
    you know, boxes of cupcakes out to our Southwest store.
  • 00:03:19
    Sure, sounds good.
  • 00:03:21
    You do have information flowing that way as well.
  • 00:03:23
    Also, you might flowing from the distribution center to the
  • 00:03:27
    store is saying, hey, we're going to be dropping off your
  • 00:03:29
    pallets of stuff later today.
  • 00:03:31
    And then of course you would have the distribution
  • 00:03:33
    center and the manufacturer.
  • 00:03:35
    They want to communicate as well, because when Hostess
  • 00:03:37
    sends these off, they're not sending it just straight to
  • 00:03:40
    the, to the grocery store.
  • 00:03:41
    A lot of times what they'll send it to is maybe they'll
  • 00:03:43
    send it to a Walgreens distribution center and then
  • 00:03:46
    they can distribute it out.
  • 00:03:47
    So you might have communication going that way from the
  • 00:03:50
    distribution center to the manufacturer and vice versa.
  • 00:03:53
    So it all kind of depends.
  • 00:03:55
    But the thing is, is no matter if you're selling
  • 00:03:57
    Hostess cupcakes or, or t-shirts or whatever,
  • 00:04:00
    there's a lot of information flow in the supply chain.
  • 00:04:03
    That's why it is vital that companies have really good
  • 00:04:06
    communication channels when they're dealing with the supply
  • 00:04:09
    chain, because we want everybody on the same page because I
  • 00:04:12
    don't want the store telling the buyer, we need more cupcakes.
  • 00:04:16
    Also telling the manufacturer that, hey,
  • 00:04:18
    we need more cupcakes.
  • 00:04:19
    And also telling distribution center, we need more cupcakes.
  • 00:04:22
    Well then all of a sudden you get 3,000 boxes of
  • 00:04:26
    cupcakes instead of the three you really need.
  • 00:04:28
    Okay?
  • 00:04:29
    So you want to think about these things, 'cause you might
  • 00:04:31
    see that whenever you try to order an Uber ride, and
  • 00:04:33
    if you try to schedule it.
  • 00:04:35
    If it doesn't work right, you're not sure.
  • 00:04:36
    So you try to order another one and then two show up and
  • 00:04:39
    you're like, ah, man, now my Uber rating is going to
  • 00:04:41
    get messed up because the information flow wasn't good.
  • 00:04:44
    That's why it is vital.
  • 00:04:46
    Supply chain, it's about communication, getting
  • 00:04:48
    information between places and a good way back and
  • 00:04:51
    forth communications.
  • 00:04:52
    So we can see if there's any, you know, inefficiencies
  • 00:04:55
    out there or anything's going wrong, or what's up.
  • 00:04:57
    It is really an important thing for a supply chain.
  • 00:05:00
    So I hope this helps you understand some of the
  • 00:05:02
    different ways that information kind of goes around a supply
  • 00:05:04
    chain because it really does.
  • 00:05:06
    And hopefully your supply chain can get you some
  • 00:05:09
    of these limited edition mint chocolate cupcakes.
  • 00:05:12
    My kids are loving these, just by the way.
  • 00:05:14
    I, of course, are abstaining because I am
  • 00:05:16
    being a good boy for now.
  • 00:05:18
    Bye.
الوسوم
  • supply chain
  • information flow
  • Hostess cupcakes
  • communication
  • inventory management
  • retail
  • manufacturing
  • distribution centers
  • customer experience
  • efficiency