How to Define Supply Chain Management (SCM), Supply Chain is all about the flow of material, information, and cash from suppliers until the end consumer. The movement and transformation of raw material into a finished product and its management is Supply Chain.
The ways and the methodology for the movement of material and
information from one end to another is defined in Supply Chain.
Supply Chain is also called the Value chain as every function of
the supply chain adds value to the product and plays its role in the chain.
The
stakeholders are involved in the above picture are:
- Suppliers
- Manufacturer/Producer
- Distributor
- Whole seller
- Retailer
- Consumer
The
supply chain covers the following areas in any organization working as separate
functions:
- Procurement
(Local/Imports)
- Warehousing
- Inventory
Management
- Logistics
(Inbound/Outbound)
- Scrap Sales
- Ex-bonding
- Production
Planning
- Stores management
To study further about the Supply Chain and how it works, read the below article.
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