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Understanding Supply Chain Management: - Coggle Diagram
Understanding Supply Chain Management:
Concept of Supply Chain Management.
Is management of material, money, men, and information within and across the supply chain to maximize customer satisfaction and to get an edge over competitiors.
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Need To Manage The Supply Chain:
Supply chain involves the cost to convey the information, produce components, store them, transport them, and transfer funds and so on.
Issues To Ponder In Supply Chain:
Compasses planning, manufacturing and operations management necessary to bring a product to the market place, from the sourcing of materials to the delivery of the completed product.
Supply chain Design:
Manufacturing firm’s supply chain design is based on effective integration.
Logistics and Distribution management:
Many years practitioners and professionals were confused between “logistics” and “supply chain management”, the usage of each term varied according to the industry.
Customer - Supplier Relationship Management:
Customer satisfaction is absolute for staying abreast in competitive environment that can be achieved only by quickly responding to customer needs.
Outsourcing & Global Issues
Shortened product life cycles and increasing global competition has tempted traditional manufacturers to contemplate on their competencies, such as product design and development, and a decision to outsource.
Knowledge Management:
Global competition and accelerating technological changes, especially in information communication and Internet technologies makes competition knowledge-based thereby affecting supply chain management across firms
Partnership Issues:
As global markets grow increasingly efficient, competition no longer takes place between individual businesses, but between entire value chains.
Information Technology and Information Management:
The advent of the Internet and electronic communication has enabled companies to be more responsive to their customers than ever.
Performance Measurement:
By continuously analyzing the performance of the enterprise over a range of functions managers identify areas of weakness and opportunities for improvement.
Environmental issues:
Author contended that the process of environmentally conscious business practice should be studied as a multi-dimensional issue.
Managing Supply Chain
For successful SCM implementation managers must understand the issues concerned with planning the supply chain.
Stages:
Plan: The first stage in supply chain management is known as a Plan. A plan or strategy must be developed to address how a given product or service will meet the needs of the customers
Analyze: The analysis would be useful for the practicing managers in developing strategies for their supply chains.