- Supply chain management means that management of chains of supplies for value addition.
- Almost all the firms try to make supply chains as a core competence to get a competitive edge.
- The firm is influenced by supply chain management policies on firm’s performance; the participants in the supply chain management of an organization have altogether different experience
- Entrepreneurial supply chain creates connection among customers and suppliers based on innovative ideas, mainly formulated by Small and Medium Enterprises
- SMEs are trying to enhance their competences to enter in the global market.
- Due to scarce resources not having access to latest technology is main problem for these enterprises.
- Entrepreneurial supply chain management competence which means SCM capabilities with new ideas to get maximum benefits
- A unique entrepreneurial SCM which have ability to compete against other large firms is much of help
- SMEs have specific entrepreneurial resources such as competitive advantage and orientation for effective implementation of Supply Chain Management.
- Entrepreneurship means process which leads to expansions in business new ways that create value on every step mean newness
- Entrepreneurship transformation means that organizational culture and system are in entrepreneurial manner.
- Welcoming something different and new
Strategies for Entrepreneurial SCM
- Innovation Orientation
- Risk Taking Characteristics
- Pro Activeness Orientation
- Keeping Up Relational Capital Skill
- Maintaining Coordination Capability
- Mangers say that focus on aggressive approach should be of innovation orientation.
- By doing this you can get distinct edge on your competitors.
- Managerial vision shows the outlook for success in supply chain.
- SMEs require new and persuasive opportunities in challenging markets. Innovation leads to performance by supporting activities, procedures and association.
Risk Taking Characteristics
- Organization have to take decision in complex situation which lacks factors harmony in information, cash, goods and services.
- Different types of risks like; availability, operations, demand, bulk, edge, resources can be prevalent for an SME
- Despite knowing the above risk and uncertainties, risk taking approach helps to look at an optimistic approach
- i.e. look forward and not care about negative consequences, which can be avoided and won over
Pro Activeness Orientation
- Pro activeness Orientation means firms ability to create new edges and beat the competitors.
- It also include the freezing of new ways in the market which influence learning and other suitable actions in supply chain
Keeping Up Relational Capital Skill
- There should be much socially linked up with customers as well as supplier also which refers to relational capital skill.
- Networking strategies of being social is helpful for better flow of activities.
- R.C.S refers to connecting with supplier which play an important role in inputs and especially to those who are well known by entrepreneurs.
Maintaining Coordination Capability
- To share the information with all the SCM participants is very important for SMEs because the key so success of all members lives in this.
- The main purpose is to provide the right products, services and all type of information to supply chain members.
- Information sharing is main thing in collaboration and coordination has great effect on internal as well as external collaboration.