Key Success Factors for Supply Chain Management Excellence at the Essay

Key Success Factors for Supply Chain Management Excellence at the Textile sector (or similar) - Essay Example Efficient supply chain management holds great importance in the textile industry as excellence of the industry largely depends upon sourcing of quality raw materials and proper placement of the final goods in the shelves of retailers so that the products can be easily accessible to the targeted audience group (Yip and Hult, 2012). In this era of globalization, establishing strong supply chain has become inevitable for the global as well as national players in order to manage complexities in global sourcing of raw materials and supplying the apparels and other finished goods to the customers all over the world (Lysons and Farrington, 2012). In fact, ensuring effective supply chain management helps the market players in the industry to achieve competitive advantages over other players. The objective of the research paper is to identify the key success factors in supply chain management that leads to create excellence in the textile sectors. For the purpose of analysis, the textile indu stry of the United Kingdom will be examined. The concept of supply chain management has gained considerable attention mainly after globalization and massive trade liberalization. According to Basu and Wright (2010), as a result of rapid expansion of cross border trade, the global industries subsequently understand the importance of supply chain management as it is becoming necessary for them to procure information, capital and raw material and present their manufactured products all over the world. Such global acquisition of materials and distribution of products would not have been possible if very strong supply chain has not been incorporated. Koprulu and Albayrakoglu (2007) have defined supply chain management as the integrated process that facilitates the associated organizations to break all the barriers of resource procurement and obtain the best possible resources for the business. According to them,