Supply Chain Management...

Supply Chain Management Supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chain management (SCM) is the management of the flow of materials, equipment, finances, information, and manpower resources within and among organizations to ensure the efficient and fast delivery of quality goods and services to the customer. It is the design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging logistics, synchronizing supply with demand and measuring performance. It is the conscious effort of an organization towards active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. Different definitions of supply chain management which are commonly being used are given below. Supply chain strategies require a total systems view of the links in the chain that work together efficiently to create customer satisfaction at the end point of delivery to the consumer. As a consequence, costs get` lowered throughout the chain by driving out unnecessary expenses, movements, and handling. The main focus is turned to efficiency and added value or to the end user’s perception of value. Through the supply chain strategies efficiency is increased and bottlenecks are removed. The measurement of performance focuses on total system efficiency and the equitable monetary reward distribution to everyone within the supply chain. The supply chain system has to be responsive to customer requirements. The integration of key business processes across the supply chain for the purpose of creating value for customers and stakeholders. The management of upstream and downstream value added flows of materials, final goods, and related information among suppliers, organization, sellers,...