Assignment on Results of Supply Chain and How Is the Effectiveness in the Global Economy

The data was collected from 300 respondents. Although there could be even more respondents, this size was considered the most suitable for the study. And these respondents are employees within different supply chain organizations. They have provided their opinions for the efficiency of supply chain in the global economy. 300 responses from respondents associated with the supply chain were utilized in this study. And there are a number of approaches which can be utilized for identifying the sample size because it directly influences the costs associated with the study. For testing the hypothesis, sampling size is considered the most important because without the correct sample size, it wouldn’t be possible to these hypotheses in a precise manner.

In this research, questionnaires have been utilized for collecting data and the questionnaires used were self-administered as they helped in accomplishing the objectives of this study. The questionnaire was designed while considering the five-point Liker ranging scale from disagreeing to strongly agree. The point “1” is selected for the strongly disagree while the “5” represents strongly agree. This questionnaire is generally divided into two major sections, and the first section explains the demographic information of respondents related to the age, gender, and education level and employment status of the respondents. The next section of the questionnaires explains the details about variables.

46.9% of the respondents belonged to the male category, and the respective frequency was 169. 36.4% of the respondents belonged to the female category and the respective frequency was 131. The majority percentage of the respondents belonged to the male category. 27.8% of the respondents belonged to the age range of 18-24 years, and the respective frequency was 100. 37.8% of the respondents belonged to the age range of 25-34 years, and the respective frequency was 136. The majority percentage of the respondents belonged to the age range of 25-34 years. 13.1% of the respondents belonged to the age range of 35-44 years, and the respective frequency was 47. 4.7% of the respondents belonged to the age range 45 years or above, and the respective frequency was 17.  A second number was the age range of 18-24 years. The third and the fourth number were the age ranges 35-44 years and 45 years or above, respectively.

37.2% of the respondents belonged to the category private officials, and the respective frequency was 134. 37.2% of the respondents belonged to the category government officials, and the respective frequency was 134. 8.9% of the respondents belonged to the category others, and the respective frequency was 32.  The majority percentage of the respondents belonged to the category of government officials. The mean values for Global Logistics, Global Market Channel, Global Operations, Supply Chain Management and Global Economy were greater than 4. If this value is measured on the five-point Likert scale then these values are measured towards the agreement for the questionnaire’s statements. This value is, if measured on the five-point Likert scale, it shows the disagreement towards this statement of the questionnaire. 1.06714, .77174, .59104, .65113and .66877 showed the values for the variation from the mean for Global Logistics, Global Market Channel, Global Operations, Supply Chain Management and Global Economy respectively.

For the dependent variable of supply chain management, a measure for the goodness-of-fit was provided by the R-Square value in the regression model. The variance %age change in the dependent variable due to the independent variables was depicted by this value. The R-square value for the current tests was 45% and it showed a significant impact of independent variables on the mediating variable (Supply Chain management). A comparison between the models was provided by the value of adjusted R-square value. This value was 44% which showed that out of total variation narrated by the regression line, the variation %age was significant. As far as the p-value for the regression was concerned, for all the independent variables this value was less than 0.05 except Global Market Channel and the value of this was 0.157. This showed that Global Logistics, Global Market Channel and Global Operations were positively significantly correlated with the Supply Chain management. These parameters have a significant impact on the effectiveness of supply chain management.

Meanwhile, for the dependent variable of the global economy, a measure for the goodness-of-fit was provided by the R-Square value in the regression model. The variance %age change in the dependent variable due to the independent variables was depicted by this value. The R-square value for the current tests was 70% and it shows a significant impact of the independent variables on the dependent variable (global economy). A comparison between the models was provided by the value of adjusted R-square value. This value was 7.05% which shows that out of total variation narrated by the regression line, the variation %age is significant. As far as the p-value for the regression is concerned, for all the independent variables this value was less than 0.05. This shows that Supply Chain management is significantly correlated with the Global Economy. These parameters have a significant impact on the effectiveness of supply chain management.

5.8 Further Analysis of Supply Chain and How Is the Effectiveness in the Global Economy

With the collection and analysis of information, it has been determined that a positive relationship does exist between information sharing and the performance of the supply chain. It means that enhancing the capability of information sharing can optimize the performance of the supply chain as well. If an organization wishes to increase the potential of its supply chain then it should optimize its information-sharing system. Actually, information sharing is considered an integral part of the supply chain because most of the operations are concerned with products and their transportation. Obviously, the information and data about these products have to be stored in an effective manner. If the information-sharing systems are not efficient, it will have an adverse effect on the supply chain.

As explained by Kim and Chai (2017), information sharing has been determined to have a significant influence on the capability and performance of supply chain. In fact, they have determined that if a firm wants to improve the supply chain, one of the most important aspects is information sharing and if information is recorded and shared effectively and it should focus on it.

In accordance with the findings from the literature review, it can be said that organizational profitability and performance are also affected in a positive manner by the supply chain if it is effective. The relation between them is directly proportional. It means that if supply chain is performing effectively, it will have a positive effect on the organizational profitability and performance and both of them will be increased. Meanwhile, if supply chain is ineffective and raw materials are not being managed as they are expected, it will have an adverse effect on the organizational profitability and performance. For instance, it has been determined by Ivanov, Tsipoulanidis, & Schönberger (2017) that supply chain is interconnected with organizational performance and profitability.

They explain in their study that supply chain is considered one of the most important parts of the organization and it can directly influence its performance in the market and profitability. Without effective management of supply chain, it is not possible for the firms to meet the demand of customers and it would ulitmately result in the lack of profits.

Global market channel, logistics, and operations of the supply chain are determined to have a positive effect on the global eocnomy. For instance, the value of R-square for the tests was determined to be 70 percent and it shows a signficiant impact on the dependent variable which was global eocnomy while the independent variables were associaed with supply chain. Even the p-value indicated that supply chain and its sub-aspects such as logistics and operations had a significant influence on the global economy. In addition to it, if GSCM is to be considered, it is capable of having a significant influence on the global economy because it not only helps organizations but also government in reducing costs which are associated with the management of waste. For instance, when waste is managed by the organizations and the environment is not affected adversely by it, it would enable governments to direct their efforts and investments in operations other than measures which are aimed to mitigate the effects on the environment.

When the environment is not adversely affected by organizations, the governments of other countries wouldn’t have to invest in interventions which can help in mitigate adverse effects on the environment. Ultimately, it would contribute to the global economy because money invested in the interventions would be saved and it would be invested in something which will be beneficial for the global economy. In this manner, it can be said that GSCM has a positive effect on the strength and stability of the global economy.

5.8.1 Hypotheses of Supply Chain and How Is the Effectiveness in the Global Economy

Following are the hypotheses which have been tested in this research:

·         Through literature review, it has been determined that effective supply chain management has a significant and positive relationship with information sharing. In fact, they have a direct relationship between them. If information sharing is not effective, then it would have an adverse effect on the management of supply chain.

·         Again, through the literature review, it has been determined that supply chain is considered one of the most important aspects of a business. Without management of supply chain, it wouldn’t be possible for an organization meet the demand of customers and when it is not successful in delivering the products to customers, it would obviously influence its profitability and performance in the market. Supply chain management and organizational performance and profitability have a directly relationship between them. If the supply chain management is efficient then it would positively influence the profitability and performance of a firm.

·         From the literature review, it has been determined that the fourth hypothesis is also correct. A relationship does exist between the supply chain and strength of global economy. In fact, both of them have a direct relationship between the strength of global economy and supply chain.

·         It has also been determined that inefficient supply chain practices adversely influence the global economy. As explained above, supply chain management and global economy have a direct relationship between them. It means that if SCM is effective, it will positively influence the global economy. Meanwhile, if it not effective, it will have a negative influence on the supply chain management.

5.8.2 Objectives of Supply Chain and How Is the Effectiveness in the Global Economy

In this research, some objectives were set and all of them have been accomplished. For instance, the relationship between supply chain performance and information sharing has been assessed, the aspects of supply chain which have an influence on organizational profitability and performance have also been analyzed, it has been determined that organizational effectiveness is adversely influenced by supply chain ineffectiveness, effective supply chain can positively influence global economy, and ineffective supply chain practices can negatively influence global economy. The last objective was concerned with providing recommendations on how supply chain management can be improved and it will also be accomplished in the last part of this research.

6. Conclusion of Supply Chain and How Is the Effectiveness in the Global Economy

Overall, it can be said that the green supply chain explains the idea related to sustainable environmental processes rather than the traditional supply chain method. Instead of using harmful elements, green supply involves value addition and value creation through its operations. The focus of this study has been on green practices and lean practices which play an important role in enhancing the performance and capability of the supply chain. With the use of different methods such as cellular manufacturing, waste elimination, and JIT, green supply chain can be improved. The performance of such a supply chain is affected significantly and positively by the management of waste, eco-design, and assessment of the lifecycle in an effective manner. This study also emphasizes on the fact that green supply chain is influenced by innovations in the existing processes.

The research questions in this study were concerned with whether a positive relationship exists between information sharing and supply chain performance, whether organizational performance and profitability are influenced by supply chain, and global economic strength and stability are affected by which factors. Meanwhile, the objectives of this study were to access the relationship existing between supply chain performance and information sharing, to analyze the aspects of supply chain having an impact on organizational performance and profitability, to ascertain the factors of supply chain that affect global economy strength and stability, to assess the supply chain ineffectiveness draw negative impact on organizational profitability, to analyze the aspects of supply chain which have a relationship with the strength of global economy, to analyze if inefficient supply chain managerial practices in organizations negatively influence global economy, and to provide the possible recommendations on effective supply chain management that how it can has positive impact on organizational performance.

With the collection and analysis of information, it has been determined that a positive relationship does exist between information sharing and the performance of supply chain. In addition to it, it has been analyzed that organizational profitability and performance are also affected in a positive manner by the supply chain if it is effective. Global market channel, logistics, and operations of the supply chain are determined to have a positive effect on the global economy. For instance, if the p-value for the regression is considered, this value is less than 0.05 for all of the variables. This shows that Supply Chain management is significantly correlated with the Global Economy. These parameters have a significant impact on the effectiveness of the supply chain management.

It is, however, important to understand that this research and its results are applicable only to the US because data was collected from New York. It means that this study is limited to only this nation and it cannot be applied to other countries. For instance, supply chain management might be different in other nations with different demographics. It is possible that the environment might not be affected significantly by the supply chain in other nations as much as it is being influenced in the US. Therefore, it can be said that the results of this study are not universal.

6.1 Recommendations of Supply Chain and How Is the Effectiveness in the Global Economy

Following are some recommendations which can further improve the research if they are considered:

·         First of all, the data considered in this research is taken from the people of New York. It means that the data is limited to only New York and the United States of America. It cannot be applied to other nations because the data is limited to only an individual nation. In order to make the study universal, data should be taken from other nations and in this manner, it can be applied to other nations as well.

·         Data has been collected from people who are associated with the supply chain management. The research doesn’t have a significant diversity which means that opinions are not broad. Therefore, diversity should be included in the research as it can make the research more reliable.

·         While conducting the literature review, there were some studies which were locked and couldn’t be accessed. In the future, these studies can be accessed and it can serve to improve the research further.

6.2 Future Implications of Supply Chain and How Is the Effectiveness in the Global Economy

·         If organizations want to improve their performance while minimizing the costs, they should turn towards green supply chain management. It can help them adopt a strategy which is not only sustainable but also effective in raising sales and aligning green practices with objectives and goals of the organization. For instance, it serves to facilitate environmental performance while minimizing waste and saving costs for achieving corporate profit and setting the objective of market share. Ecological efficiency is improved by it in the organizational context as well. Usually, traditional SCM focused on the control and cost of final products and it hardly considered its effects on the environment. Therefore, organizations should focus on adopting GSCM as it can help them improve not only organizational performance but also their profitability.

·         This research is quite effective in the field of supply chain management because it determines that supply chain practices are capable of influencing the global economy. And if organizations want, they can adopt different practices related to green supply chain management as it is capable of benefitting the global economy. Other than just contributing to the field, it helps researchers as well. For instance, if researchers want to conduct a study on supply chain management, they can take assistance from this research because some significant issues and concepts have been considered in this research. It can help them in building their own research and developing new concepts and hypotheses. Moreover, reliable information in this research can be considered as well.