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<!doctype html>
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<h1>Supply Chain</h1>
<h2>Let's learn about supply chain with Larry</h2>
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<img src="img/larry/buying.JPG" alt="supply chain" />
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<h1>Larry’s Lemonade: Expensive Lemons</h1>
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<p>
Larry is a little perplexed. As his business grows, he would have thought that the cost to make lemonade would go down, but it’s going up! It costs a nickel more to make a cup of lemonade than when he first started. He hires Sam as a supply chain specialist
to fix the problem. Sam is put in charge of finding quality lemons, negotiating contracts, and keeping good relationships with suppliers. When Sam is first hired by Larry, he finds out that Larry has been getting the majority
of his lemonade supplies from Costco. Since Larry makes so much lemonade, Sam decides it would be beneficial to go straight to a supplier and buy in bulk. He finds a company in Florida that specializes in juicy, organic
lemons. He negotiates a contract that states that the Floridian company will be Larry’s sole lemon supplier for the next 3 years if the company will give them a discounted price. The company agrees to the contract, and
gives them lemons for 20% less than if they were to continue buying them from Costco. Sam does the same thing with sugar, ice, and water suppliers. He also finds a company that will make customized “Larry’s Lemonade” cups
so they don’t have to use generic dixie cups. Once Sam negotiates all the contracts, he is able to cut COGS (cost of goods sold) by 10%, drastically increasing Larry’s profitability. He continues to search for better deals,
make sure the product they receive is up to their quality standards, and ensures the relationship between the companies is great.
<h2>Supply Chain in a Nutshell</h2>
<ul>
<li>A supply chain is a network between a company and its suppliers to produce and distribute a specific product</li>
<li>Supply chain includes both supplying and distributing of raw goods to the company, and then supplying and distributing finished products from the company to the consumer</li>
<li>Optimizing a supply chain can lead to lower costs and fast production cycles</li>
</ul>
<h2>Why Engineers in Supply Chain</h2>
Supply chain can essentially be broken down into one word: optimization. From bringing down the purchase costs of raw goods to making sure that the product gets on the shelves as quickly as possible, the supply chain is a major factor in making sure that
costs are low and profitability is high. Engineers are masters in optimization! We are taught that all our solutions should be efficient, whether it means minimal material for fixing a bridge or automating a process to
decrease man-hours. As engineers, our tendencies to make products and processes as efficient as possible is exactly what businesses want.
<h2>Want to Learn More?</h2>
</br><a href="http://www.investopedia.com/terms/s/supplychain.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186">investopedia.com/terms/s/supplychain.asp</a>
</br></br>Contact the Development team if this seems interesting to you!
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