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Supply Chain Management

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 is the integrated process-oriented planning and control of the flow of goods, information and money across the entire value and supply chain from the customer to the raw material supplier. ... In essence, supply chain management integrates supply and demand management within and across companies.”

Types of SCM Software tools

Lean Inventory Tools.

Supplier Management.

Order Processing Tools.

Demand Forecasting.

Logistics Tools.

Collaboration Tools.

Warehouse Management.

Bid and Spend Tools.

Major areas of SCM Software

Product Development.

Sales & Operations Planning.

Procurement.

Production.

Logistics.

Warehouse Management.

Retail Supply Chain Management

Retail Supply Chain Management is the process of managing the entire supply chain of retail organisations. The differentiating factor of retail supply chain management from other supply chain management is in the volume of product movement and the fast moving nature of the products of the retail industry.

Retail supply chain is the processes you use to get your products to your consumers. It encompasses everything from obtaining the raw materials to make your product to delivering that product into your shoppers’ hands.

Retail supply chain management therefore is how you optimize those processes to maximize both speed and efficiency. You should deliver your products into a consumer’s hands as fast as you can. However, you don’t want to pay outrageous amounts to do that. You must optimize your processes to be as efficient and affordable as you can manage.

7 Principles of Supply Chain Management

Adapt Supply Chain to Customer's Needs. ...

Customize Logistics Network. ...

Align Demand Planning Across Supply Chain. ...

Differentiate Products Close to Customer. ...

Outsource Strategically. ...

Develop IT that Support Multilevel Decision Making. ...

Adopt Both Service and Financial Metrics.

The Eight Components of Supply Chain Management

Planning. This is one of the most important stages. ...

Information. The world today is dominated by a continuous flow of information. ...

Source. Suppliers play a very crucial role in supply chain management systems. ...

Inventory. ...

Production. ...

Location. ...

Transportation. ...

Return of goods.

The major factors identified as supply chain structure, inventory control policy, information sharing, customer demand, forecasting method, lead time and review period length. The optimum selection of parameters of these factors improves the supply chain performance.

5 main drivers of supply chain costs

Investment Costs.

Transportation Costs.

Procurement Costs.

Production Costs.

Inventory Costs.

Created By
Parle Kalyan Chakravarty
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Credits:

Created with images by Reproductive Health Supplies Coalition - "Stack of boxes in a warehouse" • MealPro - "MealProGiftBox" • Curology - "untitled image"