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Supply Chain Decision Trees

  • Date Submitted: 01/29/2014 05:15 AM
  • Flesch-Kincaid Score: 30 
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Use of Decision Trees in Supply Chain Decision Making
Introduction
The research paper involves the general overview of supply chain, decision making process in the supply chain of any organization. Three levels of a supply chain decision making process are briefly discussed. Agent based decision making process is also explained in this research paper. The complete decision making process in the supply chain form a tree that is called decision tree. The decision tree is very useful tool for effective decision making.
Decision Trees
Decision trees are comprehensive tools for formulating all possible decision options. A decision tree is a method that can be used to help make good choices, especially decisions that are of high costs and risks.
Supply Chain Decision Making
From management's view point managers must sensibly and reasonably allocate the limited resources at the managers' disposal by making optimal decisions that result in the ultimate outcome of profit maximization. Supply chain management (SCM) is a proven strategic business structure that's goal is to implement organizational decision making that results in optimal performance. The goal of every business is to cut costs and optimize profits. The entire decision making is done to achieve this main goal. Supply chain management (SCM) also provides ways and options to achieve maximum output by taking sensible strategic decisions.
In general there are three levels of decision making process in a supply chain. Understanding the decision making context is important in the current dynamic business environment as it facilitates the joint management of supply chains that leads to competitive advantage.
Decisions Trees in Supply Chain Decision Making
Strategic level decision making
Strategic decisions are the highest level. The strategic level defines the supply chain network. Here, a decision concerns general direction. At the strategic level the firms establish objectives and long term goals. These...

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