Managing the Supply Chain
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Transcript of Managing the Supply Chain
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What Is SupplyChainManagement ?Supply chain management is themanagement of the flow of goodsand services and includes allprocesses that transform rawmaterials into final products. Itinvolves the active streamliningof a business's supply-sideactivities to maximize customervalue and gain a competitiveadvantage in the marketplace.
How Supply ChainManagementWorksSupply chain management (SCM)represents an effort by suppliers todevelop and implement supplychains that are as efficient andeconomical as possible. Supplychains cover everything fromproduction to product developmentto the information systems neededto direct these undertakings.
5 Parts of SCM
The plan or strategyThe source (of raw materialsor services)Manufacturing (focused onproductivity and efficiency)Delivery and logisticsThe return system (fordefective or unwantedproducts)
In SCM, the supply chain manager coordinates the logistics of allaspects of the supply chain whichconsists of five parts:
What Is a SupplyChainManagementExample?Supply chain management is thepractice of coordinating thevarious activities necessary toproduce and deliver goods andservices to a business’s customers.Examples of supply chain activitiescan include designing, farming,manufacturing, packaging, ortransporting.
Why Is SupplyChain ManagementImportant?Supply chain management is importantbecause it can help achieve severalbusiness objectives. For instance,controlling manufacturing processescan improve product quality, reducingthe risk of recalls and lawsuits whilehelping to build a strong consumerbrand. At the same time, controls overshipping procedures can improvecustomer service by avoiding costlyshortages or periods of inventoryoversupply.
