What is Supply Chain Management? - letsdiskuss
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Anonymous

@letsuser/financialadvisor | Posted on | Share-Market-Finance


What is Supply Chain Management?


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@letsuser/financialadvisor | Posted on


In simple terms, supply chain management is the flow of raw materials supplied from supplier to finished good finally reaching the end consumer. The SCM determines complete process by taking right quantity and making sure it reaches the customer at the right time. Supply chain management is largely related to logistical process and largely falls under FMCG industry. The supply chain network starts with the delivery of raw material from supplier to a manufacturer, ending with the finished product for the end consumer.


There are number of modules involved in supply chain management area-

Production planning- This involves creating and ideating various strategies for future prospects.
Sales and operations- From forecasting to creating data, the process involves formulating sales and operations.

Capacity planning- Determining the labor and facilities for the manufacturing prospects
Supply chain management is the backbone of any business organization, and logistics is the major part of SCM. Companies need to ensure that the SCM is finely formulated to keep the process of development and production smooth. For the smooth flow of SCM, there is requirement of good supply chain finance with high potential. 


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| Posted on


The management of the flow of goods and services and Include all processes that transform raw materials into final products is known as supply chain management.

A complete supply chain management system includes the material handling and software packages for all the parties who work together to create the product, fulfill orders, and keep track of information including suppliers, manufacturers, wholesalers, transportation providers, logistics providers, and retailers.

This is how a supply chain looks like-

Raw materials - suppliers - manufacturers - distributors - retailers - customers. 


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