Functions of the Supply Chain management are based on the several functions which will be defined in detail in this blog. Supply chain functions are the pillars of the supply chain field.
Below are the major Functions of Supply Chain Management:
- Local Purchasing
- Imports
- Warehousing
- Inventory Management
- Inbound Logistics
- Outbound Logistics
- Scrap Sales & Bonded Warehouse
- Production Planning
Procurement
Procurement is the process of purchasing goods/services through a systematic process and standards made by the government and organizational policies.
Local Purchasing
Local purchasing refers to the acquiring of goods/services domestically which are available locally either manufactured or imported and we purchase them from local suppliers/vendors.
Below is the sequence wise steps of local purchasing of goods/services:
- Purchase Requisition
- Request for Quotation (RFQ)
- Quotation
- Negotiation
- Purchase order
- Contract
- Goods Receiving
- Invoice & Payment
To Study further about the functions of Supply Chain, please visit below:
No comments:
Post a Comment