Article Review: Purchasing and Inventory

Article Review must be at least 825 words or more not including references which should supported by citing at least 2 new peer-reviewed journal articles between 2017-2022 and 1 reference from required text and a biblical reference. Biblical verse needs to cited (King James Bible), in current APA format. Discussion must be in current APA format and must include a reference list. Reference sample make sure to include DOI-Drollinger, T., Comer, L. B., & Warrington, P. T. (2006). Development and validation of the active empathetic listening scale. Psychology & Marketing, 23(2), 161-180. https://doi.org/10.1002/mar.20105 Assignment Details below and Article is attached: The following headings are required for the article reviews: authors purpose, application to supply chain management, background of the issue, managerial implications, and summary (do not say conclusion). Have a titled managerial implications section. Begin sentences with “managers should”, or “advice to managers would be” throughout this section. This is your direct advice to other managers, so quotes should be minimal. Cite the article being reviewed early (at least once in your first paragraph). Continue citing it throughout the review. Provide a citation. Integration of faith and learning assignment (IFL). Include an actual scripture verse early in the writeup. Your paper must show scriptural integration specifically with supply chain management, not business, management, or marketing in general. Each Journal Article Review assignment must include these sections: • Title page • Article caption at top of first page of text (current APA style) to identify the article • Statement of the author’s purpose (100 words)• Background of the issue (175 words)• Application of supply chain management theory relevant to article(150 words) • Managerial implications of article findings (350 words) • Summary of the article and its context (50 words) • References (Current APA style) 1 Required reference Liberty University Custom (2020). Supply chain management (Custom ed.). New York, NY: McGraw-Hill Create. ISBN Loose Leaf Print: 9781307611601. ISBN eBook: 9781307611458

Article to be used is attached and title is below:
Supply chain management for circular economy: conceptual framework and research agenda

ANSWER

Purchasing and Inventory

Article: Hazen, B. T., Russo, I., Confente, I., & Pellathy, D. (2020). Supply Chain Management for Circular eEconomy: Conceptual framework and research agenda. The International Journal of Logistics Management. 32(2): 510-537. https://doi.org/10.1108/IJLM-12-2019-0332

Statement of the Purpose

The article creates awareness of the need to reconfigure existing core supply chain management processes to align with the demand of the production and consumption areas. Its major aim is to ensure that organizational leaders, especially those handling the supply chain domain, are well-versed in the circular approach and its relevance. The article highlights the circular economy (CE) as a critical success factor in enabling supply chain leaders should adopt and ensure it revolves around the slowing, closing, intensification, narrowing and dematerializing loops principles (Hazen et al., 2020). It also aims to ensure that these leaders understand the crucial capabilities they need to cultivate to achieve the targeted milestones. These include customer relationship management, customer service, supplier relationships, and product development (Hazen et al., 2020). Overall, the rationale behind the article is to expose supply chain professionals to the CE concept and associated supply chain management processes that deliver advanced production and consumption outcomes.

Background to the Issue

The diminished production and consumption patterns witnessed in today’s setting form this analysis’s need. Most global companies have failed to obtain improved outcomes, as evidenced by inadequate production and consumption levels. The primary challenge associated with the same revolves around failure to ensure that businesses produce quantities that take care of the needs of the consumer market sufficiently. Also, companies have been experiencing numerous challenges that hamper the achievement of core production and consumption patterns. For example, waste and pollution have posed a significant challenge to efforts to cultivate advanced supply chain results. With CE, business leaders can cultivate positive-society-based benefits that shape economic activities (Hazen et al., 2020). The lack of or reduced reengineered elements in today’s setting has primarily affected suitable production and consumption patterns. This has exposed developed and developing communities to inadequate outcomes in the supply chain industry. This has attracted the attention to sustainable production and consumption (Bengtsson et al., 2018). The approach motivates organizational leaders to reengineer various corporate parts to accelerate production and consumption outcomes. Overall, the lack of process restructuring is the core element that has prompted this analysis.

Application of Supply Chain Management Theory to the Article

The resource-based theory is one of the vital supply chain management models in this article. It supports businesses in developing and expanding agility, adaptability, and alignment with core supply chain management processes (Vitorino Filho & Moori, 2020). Achieving these elements calls for supply chain leaders to invest in strategic allocation and resource independence to build capabilities that accelerate growth and productivity. Considering that this article focuses on improving supply chain management processes, the resource-based theory becomes a crucial model of interest. For example, if a company is experiencing limited production, it can invest in tactics such as digitalizing its systems and improving customer relationships management to obtain better outcomes. These areas require a significant allocation of resources to enable leaders to lay strategic systems and structures that deliver the targeted benefits. Therefore, the resource-based theory is vital in informing supply chain leaders of the need to invest and allocate an ample resource base to the CE and supply chain management processes.

Managerial Implications of the Article Findings

Supply chain managers should familiarize themselves with the intersection of the five principles of CE and supply chain management processes (SCM). The production and consumption outcomes depend on these approaches’ relationship. One of the major aspects they should note is that CE and SCM build an effective ground towards obtaining quality production and consumption milestones. This calls for supply chain leaders to formulate and strengthen areas such as customer service, product development, and supplier management, among others, to realize significant and sustainable benefits. For example, suppose an organization can restructure chain processes. In that case, it stands a higher chance of realizing strategic and quality outcomes as the established systems correlate with the needs and demands of the present and future-based environment. With the supply chain industry experiencing massive and unique changes, leaders must develop an advanced approach. This will pave the way for better results. For instance, re-imagining how products are manufactured and delivered to the consumers can enable supply chain leaders to invest in critical supply chain networks that offer the desired milestones. The benefits are felt across organizations and the community at large. Global supply chains are considered the heart of societal challenges where. This calls on leaders to make necessary changes (Touboulic, McCarthy & Matthews, 2020).

Also, managers should ensure that they set aside resources to boost their supply chain processes. Achieving effective production and consumption outcomes lies in how well supply chain leaders can design and allocate this domain with a sufficient resource base. This will enable them to develop and advance quality supply chain processes that deliver excellent results. For example, the issue surrounding narrowing loops emerges from using fewer resources per product (Hazen et al., 2020). This highlights the lack of strategic investment of resources in the business. This is a primary lesson for all corporate leaders to liaise and pool massive resources that support the projected supply chain goals and objectives. The decisions that these leaders make require a hefty investment. For example, digitalizing systems is a core area likely to consume many financial resources. This means that leaders should be well prepared with these resources.

Article Summary

The article informs supply chain leaders on the need to develop a supply chain management process framed within the CE context. This will guide them in achieving successful and sustainable production and consumption trends. Their production will correlate with the consumption trends when investing in this perspective. As the Bible says in 2nd Corinthians 9:10, “Now he that ministered seed to the sower both minister bread for your food, and multiply your seed sown, and increase the fruits of your righteousness” leaders stand to encounter quality outcomes depending on the decisions and steps they take (King James Bible, 2022).

References

Bengtsson, M., Alfredsson, E., Cohen, M., Lorek, S., & Schroeder, P. (2018). Transforming systems of consumption and production for achieving the sustainable development goals: Moving beyond efficiency. Sustainability science, 13(6), 1533-1547. DOI: 10.1007/s11625-018-0582-1

Hazen, B. T., Russo, I., Confente, I., & Pellathy, D. (2020). Supply Chain Management for Circular eEconomy: Conceptual framework and research agenda. The International Journal of Logistics Management. 32(2): 510-537. https://doi.org/10.1108/IJLM-12-2019-0332

King James Bible (2022). In Bible Getaway. https://www.biblegateway.com/passage/?search=2nd+Corinthians+9%3A10+&version=KJV

Touboulic, A., McCarthy, L., & Matthews, L. (2020). Re‐imagining supply chain challenges through critical engaged research. Journal of Supply Chain Management, 56(2), 36-51. DOI:10.1111/jscm.12226

Vitorino Filho, V. A., & Moori, R. G. (2020). RBV in a context of supply chain management. Gestão & Produção, 27. DOI:10.1590/0104-530×4731-20