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Supply Chain Management- the backbone of Service Economy
What is Supply Chain Management?
Logistics Supply Chain management is one of the most demanding and contemporary concepts in today’s business world. SCM primarily aims at reducing cost and constantly innovating new strategies to achieve competitive advantage and to meet consumer demands. In brief Supply Chain Management means the right product at the right time at the right measure in the right quantity and the right place.
Coming to a more scientific or theoretical definition, Supply Chain Management can be defined as the administration of the flow of services and goods properly and involves movement and storage of raw materials from the purpose of beginning to the point of utilization. Shortly we can define the process of Supply Chain Management as the planning, designing, control, execution and overseeing of supply chain activities with the goal of generating better revenues, hiking sales, increasing global logistics, synchronizing stock with demand and consumption and building a competitive infrastructure.
Supply chain management is all about collaborative work between suppliers and consumers which is based on synchronizing the customer and product database and a joint integrated implementation process. Supply chain management is crucial because it helps in maintaining uniformity of sales and products. SCM, in short, is the submission of Supply Chain Management Software, hardware with the objective to run the system and proper planning, control and execution.
Writing an assignment on Supply Chain Management becomes quite perplexing because it involves many complicated procedures as well as deep analysis of the sales process. Shipping and dispatching also come under SCM so sometimes things become intertwined. This is why people opt for SCM assignment help to complete their assignments on time and excel with their write-ups.
Importance of Supply Chain Management
Supply Chain Management works on four major decision areas. These are location, production, Inventory and Transportation. There is an enormous amount of operational and strategic elements working on these decision areas. This line itself justifies the importance of Supply Chain Management in the corporate sector. Supply Chain Management is thus a crucial part of every organization, whether small or large.
Better the supply chain is the more efficiently a business works. SCM streamlines everything starting from product flow to unexpected problems in the economy. SCM connects major departments in an organization and makes customer relations easily. The retailers get the product without any hurdles. SCM aims at increasing the efficiency of the working process and helps to give maximum results minimum outputs.
Role of Supply Chain Management system in a business
Supply Chain Management plays a crucial role in planning, purchasing, production and transportation of the service or goods. Manipulating SCM effectively will help to manage the entire system with precision.
If the system is monitored efficiently, then the company itself becomes a renowned brand among the corporate giants with huge brand value.
CRM becomes easy if Supply chain management is maintained.
Outputs are maximized, and customer satisfaction is assured.
Things become more organized, and the orientation of the process becomes more specific.
Quality control is also assured as the customer relationships are sorted, and even the retailers can directly contact the suppliers.
Standardization and variety reduction is well promoted.
Minimum total cost of operation and procurement is assured.
Flexible and control processes increase the output efficiency and make Customer Relationship management easy.
Boosts production by several folds hiking the company’s revenues.
Labour costs drop close to minimum wages and so contribute to the company’s profit statement.
Supplier and customer problems are easily solved leading to better productive results and increasing the brand quality.
Enhanced customer service stances promote a high level of inventory.
Leads everything to a balanced situation and reduces the gap between the suppliers and consumers which is the prime objective of the supply chain process.
The concept of Supply Chain Management
Are you the one who ever got confused between logistics and supply chain managementassignment? Well, many people get confused between logistics and supply chain management assignment because these words are often used synonymously. Even half of the corporate sector doesn’t know that logistics is a branch of Supply Chain management. Supply Chain Management encompasses the submissive designing and implementation of procedures required to optimize the movement of goods, information, and capital in the channelized area.
Briefly, SCM means the process of sourcing and outsourcing the products and the execution and control involved in monitoring the process. SCM relies on each of its branches. Be it the supplier or buyer; the software or the workforce; SCM has it all. This is why the concept of SCM is different from logistics that only involves the statistical facts and figures of the process. People often confuse logistics with SCM, and so whenever they prepare an assignment about Supply Chain Management, they indulge unnecessary points about logistics that is of no particular importance.
Logistics and Supply Chain Assignment can be perplexing for a newbie, but for someone experienced, these assignments are just a matter of few hours. And even if people manage to prepare an assignment related to Supply Chain Management, they mess up facts and ignore the visible differences. So go for the various web forums available on the internet those are experts in writing business assignments like an assignment on Supply Chain management.
Supply Chain Management Process
The process of Supply Chain Management involves the flow of four sequences systematically. These phases are inevitable for accomplishing the supply chain management. There are four vital steps to complete Supply Chain Management. These are listed below:
This primarily involves maintaining the supply chain management effectively within the perfect budget and with unmatched quality. This is basically like the heart and brain of SCM. Monitoring integration plays a crucial role in maintaining communication between the rests of the phases of Supply Chain Management. Often this involves new technologies and software for timely results of goods or services.
This is the coordinating step that determines whether everything is running well and what can be done if things are a bit misplaced. This step involves business forecasting to predict that which supplies will be needed when and by whom and at what price. The operation is crucial because it forms a connecting link between rests of the three phases.
It is otherwise known as the sourcing phase. This step primarily aims at creating a better relationship with the suppliers. It monitors that whether the goods and services are cost-effective or not and at the same time it checks if the budget designated for a specific product matches its quality standards. A high-end product should be cost-efficient as well, so this step aims to maintain the product budget.
This is the final step of the Supply Chain Management process. This involves taking the responsibility of the communication among retailers or clients and ensures if the product reaches the right place in the right time without much investment in transportation. We all know how shipment charges are a headache. Distribution mainly works on minimizing the shipment charges and the proper dispatch of the wholesale stuff.
Analyzing these steps make it quite complicated to write an assignment on Supply chain management. This is the prime reason why people opt for Supply Chain management assignment help to accomplish their assignments. In general logistics and supply, chain management assignments are most probably the most tedious task while writing an assignment. The research efforts, time duration and peer pressure murder the creativity of a write-up and forces to focus just on the facts, figures and statistical analysis of the assignment.
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