Supply chain management is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace.
Supply chain management (SCM) represents an effort by suppliers to develop and implement supply chains that are as efficient and economical as possible. Supply chains cover everything from production to product development to the information systems needed to direct these undertakings.
Supply chain management attempts to centrally control or link the production, shipment, and distribution of a product. By managing the supply chain, companies can cut excess costs and deliver products to the consumer faster. This is done by keeping tighter control of internal inventories, internal production, distribution, sales, and the inventories of company vendors.
𝐌𝐨𝐫𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐨𝐧 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 ➡ https://www.360marketupdates.com/enquiry/request-sample/22443936&piyush
Supply chain management is important because it can help achieve several business objectives. For instance, controlling manufacturing processes can improve product quality, reducing the risk of recalls and lawsuits while helping to build a strong consumer brand. At the same time, controls over shipping procedures can improve customer service by avoiding costly shortages or periods of inventory oversupply. Overall, supply chain management provides several opportunities for companies to improve their profit margins and is especially important for companies with large and international operations.
Top Companies: Oracle, SAP SE, Infor., McKesson Corporation, Tecsys Inc., Global Healthcare Exchange, LLC., Cardinal Health., Epicor Software Corporation, LLamasoft Inc., Manhattan Associates., Blue Yonder Group, Inc., Cerner Corporation., Jump Technologies, Inc., Logi-Tag Systems.
Functions:
- Forecasting and Planning
- Inventory Management and Procurement
- Internal Logistics and Operations
- Warehousing and Distribution
- Reverse and Extended Logistics