The framework of the supply chain concept has an infrastructure that is built on logistics, production, and distribution. Logistics is managing the flow of goods, which involves integration of information, transportation, and inventory. Production is the act of manufacturing goods and services, which involves a gross domestic product. Distribution is the next echelon in the supply chain, it simply involves placement of a product or service. All these concepts tie into how some businesses have modified from the brick and mortar concept within the supply chain. Today many companies are steering away from the physical presence in the community, therefore, turning into a “click and get company”. Although many companies have incorporated the World Wide Web as a part of their daily operations, still a need for face to face interaction. Team E, recognizes that many financial institutions have modified the traditional way of doing business by offering to its customers internet banking. In the following paragraphs Team E will explain in detail how these three banking institutions Washington Mutual, SunTrust bank, and Citizens Bank and Trust of West Georgia have modified from the traditional “brick and mortar” concept.
SunTrust Bank Supply Chain and “Brick and Mortar”
SunTrust Bank’s supply chain can be more recently defined as constantly changing to improve service delivery to their clients. Through their subsidiaries SunTrust Bank offers deposit, credit, trust, and investment services to a broad range of retail, business, and institutional clients. While also providing mortgage banking, brokerage, investment management, equipment leasing, and capital market services. SunTrust has recently signed an agreement with IBM that will allow IBM to manage all SunTrust’s internal IT support.
The agreement with IBM was signed on July 1st. The agreement is a joint effort that will increase SunTrust’s ability to compete in the marketplace, maximize efficiency,...