Supply And Management: Literature Review On Supply Chain Management

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The discipline of supply chain management traces its history back to the early 1950s when several researchers were interested in understanding the optimal policies related to inventory management (Swaminathan et al., 2003). Supply chain management spans several functional and geographical areas, introducing complexities both in terms of design and execution. Among the significant factors that make matters worse for supply chain management decisions include the presence of multiple agents and their sometimes conflicting incentives; uncertainty in demand, supply and production distribution process; asymmetry of information related to product design, inventory, costs, demand and capacity across the
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Christopher (1992) describes a supply chain as a network of organizations that are involved, through upstream (i.e. supply sources) and downstream (i.e. distribution channels) linkages, in the different processes and activities that produce value in the form of products and services in the hands of the eventual consumers. Supply chain management is the efficient management of the end-to-end process, which starts with the design of the product or service and ends with the time when it has been sold, consumed, and finally, discarded by the consumer. This complete process includes product design, procurement, planning and forecasting, production, distribution, fulfillment, after-sales support, and end-of-life disposal. The Supply-Chain Council defines supply chain management as the "effort involved in producing and delivering a final product from the supplier's supplier to the customer's customer (Larson et al., 1998). Supply chain management is customer oriented and is aimed towards the integration of business planning and matching supply and demand across the entire supply chain for bringing instantly, costless, seaming less and frictionless products to
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