What are the essentials for supply chain management?

Essentials of Supply Chain Management

• What is Supply Chain?
• Nature and Scope of SCM.
• Supply Chain Decision Phases.
• Supply Chain and The Replenishment cycle.
• SCM and The Manufacturing Cycle.
• SCM and The Procurement Cycle.
• Time related competitive changes.
• Major Supply Chain Drivers for Strategic Fit.

Why good supply chain management is essential for an organization?

The ultimate goal of effective supply chain management is higher profits through improved customer satisfaction and a lower cost of doing business. Profits are healthier when costs are controlled and reduced wherever possible. Operating costs go down when the costs of raw materials and production go down.

What are the five primary activities in a supply chain?

What are the five primary activities in a supply chain? The five primary activities are plan, source, make, deliver, and return.

What is called supply chain management?

Supply chain management (SCM) is the centralized management of the flow of goods and services and includes all processes that transform raw materials into final products. By managing the supply chain, companies can cut excess costs and deliver products to the consumer faster.

What are the fundamentals of Supply Chain Management?

Supply Chain Management Fundamentals. Supply chain management professionals play a key role in capturing customer demands, creating forecasts, developing schedules, ordering and managing inventory, controlling production orders, and maximizing customer satisfaction. This course will help you succeed in the supply chain management field.

What is the main goal of Supply Chain Management?

Goal 1: Achieve Efficient Fulfillment. On the most basic level, the purpose of supply chain management is to make inventory readily available in customer facing positions to fulfill demand. The fresh produce business adage “you can’t sell from an empty wagon” highlights this fundamental purpose of supply chain management.

What are the 8 key supply chain processes?

The 8 Key Supply Chain Processes. Demand planning responsiveness. 2. Customer relationship collaboration. 3. Order fulfilment. 4. Product development launch. 5. Manufacturing customization. 6. Supplier relationship collaboration. 7. Life cycle support. 8. Reverse logistics….

What are some potential benefits of managing the supply chain?

Benefits of supply chain management. Supply chain management creates efficiencies, raises profits, lowers costs, boosts collaboration and more. SCM enables companies to better manage demand, carry the right amount of inventory, deal with disruptions, keep costs to a minimum and meet customer demand in the most effective way possible.