Supply Chain Management is a seamless concatenation of various supply chain entities, activities and other components leading to the smooth run of sourcing, production and logistics functions and resulting in delivery of products or services at the right time, right place and for a right price.
A well managed supply chain is a great strategic as well as competitive advantage to the participating organizations as it ensures the optimized utilization of their resources and delivery of a highly cost effective products or services. Use of technology also plays a very crucial role to integrate supply chain components and gives rise to a highly efficient automated system which seeks to meet the supply with demand or vice versa with the optimum utilization of resources and minimal inventory.
Supply chain management may sound like a simple process but actually it is a very complicated process which even for a simple product, involves several sub-processes, activities and variety of costs. The following video gives you a very clear picture of what actually supply chain management is:
A well managed supply chain is a great strategic as well as competitive advantage to the participating organizations as it ensures the optimized utilization of their resources and delivery of a highly cost effective products or services. Use of technology also plays a very crucial role to integrate supply chain components and gives rise to a highly efficient automated system which seeks to meet the supply with demand or vice versa with the optimum utilization of resources and minimal inventory.
Supply chain management may sound like a simple process but actually it is a very complicated process which even for a simple product, involves several sub-processes, activities and variety of costs. The following video gives you a very clear picture of what actually supply chain management is:
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