Study of supply chain management of

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Study of supply chain management of

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Supply Chain Management - Definition and importance of its strategies Supply Chain Management - Definition and importance of its strategies Definition of Supply Chain Management If you go to a Supermarket and pick up a few items off the shelf from electronics and white goods or even clothes and look at the labels, the chances are that you will find them having been manufactured in China or Mexico.

The coffee pods you buy to use for your everyday use comes from Africa.

Study of supply chain management of

Global markets are expanding beyond borders and re-defining the way demand and supplies are managed. Global companies are driven by markets across continents.

To keep the cost of manufacturing down, they are forced to keep looking to set up production centers where the cost of raw materials and labor is cheap. Sourcing of raw materials and vendors to supply the right quality, quantity and at right price calls for dynamic procurement strategy spanning across countries.

With the above scenario you find companies procuring materials globally from various vendors to supply raw materials to their factories situated in different continents.

Study of supply chain management of

The finished goods out of these different factory locations then pass through various chains of distribution network involving warehouses, exports to different countries or local markets, distributors, retailers and finally to the end customer. In simple language, managing all of the above activities in tandem to manage demand and supply on a global scale is Supply Chain Management.

As per definition SCM is the management of a network of all business processes and activities involving procurement of raw materials, manufacturing and distribution management of Finished Goods.

Effective Market coverage, Availability of Products at locations that hold the key to revenue recognition depends upon the effectiveness of Supply Chain Strategy rolled out. Very simply stated, when a product is introduced in the market and advertised, the entire market in the country and all the sales counters need to have the product where the customer can buy and take delivery.

Any glitch in the product not being available at the right time can result in the drop in customer interest and demand which can be disastrous.

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Transportation network design and management assume importance to support sales and marketing strategy. Inventory control and inventory visibility are two very critical elements in any operations for these are the cost drivers and directly impact the bottom lines on the balance sheet.

Inventory means value and is an asset to the company. Every business has a standard for inventory turnaround that is optimum for the business. Inventory turnaround refers to the number of times the inventory is sold and replaced over a period of twelve months.

The health of the inventory turn relates to the health of business. In a global scenario, the finished goods inventory is held at many locations and distribution centers, managed by third parties. A lot of inventory would also be in the pipeline in transportation, besides the inventory with distributors and retail stocking points.

Since any loss of inventory anywhere in the supply chain would result in loss of value, effective control of inventory and visibility of inventory gains importance as a key factor of Supply Chain Management function.Supply Chain Management Review is your comprehensive resource for news and information on supply chain management, transportation and warehousing.

Supply Chain Digest is the industry's best publication and web site for supply chain management and logistics practioners to find information, news, insight, education, opinion and tools. We cover supply chain, logistics management, distribution, RFID, material handling, transportation, supply chain software, manufacturing, supply chain .

The Nine Drivers of New WMS Adoption

Supply Chain Management Degrees and Programs In order to learn how to source, buy, transport and manage resources of all kinds for the purpose of meeting the goals of a company, it is necessary to acquire specialized training in the field of supply chain management.

Sunil Chopra is the IBM Distinguished Professor of Operations Management and Information Systems at the Kellogg School of Management. He has served as the interim dean and senior associate dean for curriculum and teaching, and the co-director of the MMM program, a joint dual-degree program between the Kellogg School of Management and the McCormick School of Engineering at Northwestern .

Logistics and supply chain management involves storing and managing the flow of goods and services from the point of origin to the consumer - . Bellevue University's Bachelor's Degree in Supply Chain and Logistics Management prepares you for a career in global supply chain management and logistics of purchasing, warehousing, and transporting goods.

Supply Chain Management Degree, Supply Chain Management Degree Online