Supply Chain Management

What is meant by Supply ChainManagement?

Supply Chain Management maximizes customer value to gain a competitive advantage in the marketplace.

Supply chains cover:

-          Production

-          Product Development

-          Information Systems

Supply chain management typically attempts to control the production and distribution process of a product. The reason some companies are able to cut down on unnecessary processes and manage their time more efficiently is because of supply chain management. Although supply chains have always existed a lot of companies have only paid attention to them recently.

Supply Chain Management can be divided into three main categories.

1.       The product flow- Movement of the merchandise including customer returns or service needs.

2.       The information- This involves transmitting orders and updating the status of the delivery.

3.       The finances – This includes payment schedules and title ownership.