Principles And Strategic Elements Of Supply Chain Management

Supply-chain management consists of developing a strategy to organize, control, and motivate the resources involved in the flow of services and materials within the supply chain. A supply chain strategy, an essential aspect of supply chain management, seeks to design a firm’s supply chain to meet the competitive priorities of the firm’s operations strategy.

Mellat-Parast and Spillan (2014) defines supply chain management as the method of handling material and information moves from the beginning, through the organization, and to the end-user. This is a very important factor of organizational strategy.

Supply Chain Management (SCM) has been defined by Supply Chain Management Institute to be “the management of relationships in the network of organizations, from end customers through original suppliers, using key cross-functional business processes to create value for customers and other stakeholders”(SCM-Institute, 2016).

Supply chain management involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability. The dozens of steps are required to achieve and carry out each of the above components. SCM software can enable an organization to generate efficiencies within these steps by automating and improving the information flows throughout and among the different supply chain components.

Supply Chain Management is the integrations of the flows of products and materials, services, information, and financials through the entire supply pipeline from the supplier’s

Supply chain management (SCM) is the maximization of customer value and effective management of supply chain activities to ensure a sustainable competitive advantage. Supply chain firms strive to develop and manage their supply chains as efficiently as possible. Supply chain activities include everything from product development, procurement, production and logistics to all the information systems necessary to coordinate these activities.

Supply chain management (SCM) is the supervision of materials, information, and finances as they move in a process from supplier to manufacturer to retailer to the cessation consumer. There are three crucial flows of the supply chain: The product flow, the information flow and the finances flow. SCM involves coordinating and integrating these flows both inside and between

Supply chain management is an integrated process that constitutes the various stages through which a product passes prior to reaching the ultimate consumer. Every product or service is designed in such a manner that it is able to meet the requirements of its target consumers. Through a well formulated and managed supply chain process, products that are manufactured are able to reach out to its consumers effectively and through the process it is possible to make it available at a convenience to the customers. The processes constituted in the supply chain system are continuously active and are always being monitored and managed by several people across the system. An efficient supply chain management system ensures that there is speedy delivery of the product from the stage of the manufacturing through the various channels for delivering it to the consumers.

Supply chain management, then, is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. It represents a conscious effort by the supply chain firms to develop and run supply chains in the most effective & efficient ways possible. Supply chain activities cover everything from product development, sourcing, production, and logistics, as well as the information systems needed to coordinate these activities.

Supply Chain Management (SCM) is the management and administration of a network of interconnected enterprises involved in the fundamental provision of product and service packages required by end customers. This complex discipline is the systematic and strategic coordination of traditional business functions and the tactics across those business functions within a particular company and across businesses within that company’s supply chain. The end effect is improving long term performance of the company, the companies within the supply chain, and the supply chain as a whole for competitive advantage. Keith Oliver, an analyst working for the consulting firm Booz Allen Hamilton, coined the term “Supply Chain Management” in

Supply Chain Management is a process of streamlining the supply-side activities in order to order to take control over production, shipment and distribution (Cooper et al, 1997). An impeccable supply chain management process should enhance the quality of the production environment and help the organization to gain the competitive advantage. The supply chain management, in a nut shell, looks after the flow of goods within the organization. The flow normally refers to the movement of raw materials from storage area to work-in-progress area to inventory of the finished goods to distribution to the inter-linked networks that reach the end customers. The effective supply chain management would help the organization to reduce the ownership of the raw materials and distribution channels and to enhance the trust and collaboration with the supply chain partners. The globalization, information technology and outsourcing practices have been helping the organizations to successfully operate supply chain networks with the help of the technology

According to (Lummus & Vokurka, 1999, p. 2) “Supply chain management is an integrating philosophy to manage the total flow of a distribution channel from supplier to ultimate customer”. The theory behind this definition looks at how supply chain management allows companies to focus on there unique skill sets and how understanding supply chain objectives and individual roles, an ability to work together, and a willingness to adapt in order to create and deliver the best products and services possible. Technology and teamwork are a huge part of supply chain management, if organisations have advanced technology and good teamwork efficiency and effective processes will be created which will create more value for the end customer, but if

Supply chain management (SCM) is the combination of activities which help a company to improve the methods to make a product or service and deliver it to customers. (Larson, 2004) SCM encompasses the planning and management of all activities involved in sourcing, procurement, conversion, and logistics management activities. More importantly, it includes coordination and collaboration with other people who are associated with the business like suppliers, intermediaries, third-party service providers, and customers.

This part of supply chain management involves selling the right product to the right customer for right price. Right customer can be find with the help of market surveys and analysis. Price can be set by developing pricing strategies with respect to competition in market. Selling of product also involve setting targets of sales.

Top business companies in the world have discovered their own valuable strategy which makes their business superior than others. The secret is supply chain management (SCM) and it includes all integrated activities that from manufacture the product to customer service. SCM integrates the transportation and storage of raw materials , inventory, and finished goods from initial supplier to ultimate customer. Successful SCM coordinates everything into a seamless process. It connects all the partners in the chain which include vendors, suppliers, contracted companies, and employees.