"What is Supply Chain Management ?" so we understood what is Supply chain and lets see what is Management and why is it necessary. Supply chain management ( SCM ), the management of the flow of goods and services , money and information between businesses and locations, and includes the movement and storage of raw materials , of work-in-process inventory , and of finished goods as well as end to end order fulfilment from point of origin to point of consumption. Interconnected, interrelated or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. So just to simplify Supply chain management is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a busine...
"What is Supply Chain ?" most basic question asked by the few people. First lets understand what is Supply Chain and then lets move forward to management. A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. So lets simplify it further and let me try to illustrate from the figure below L et's take the example of a customer walks into department Store to purchase beauty soap. The supply chain begins with the customer and his need for beauty soap. The next stage of this supply chain is the retail store where the customer visits. Store stocks its shelves using inventory that may have been supplied from a finished goods warehouse managed by a party (vendor) or received from third party (vendor). The vendor in turn is stocked by the manufacturer. The manufacturing plant receives raw material from a variety of suppliers who may themselves have been supplied by lower tier suppli...