2. Introduction:
Supply chain management (SCM) is the process of
managing the flow of goods and services from the point
of origin to the point of consumption.
Effective supply chain management can help
organizations improve their efficiency, reduce costs,
increase customer satisfaction, and gain a competitive
advantage in the market.
4. 5 Parts of SCM
Supply Chain Management
Planning Sourcing Manufacturing Delivering Returning
Delivery channels
to ensure timely,
safe, and
inexpensive
delivery of
products into the
hands of its
customers.
The company
must ensure it has
the capabilities to
receive returned
products and
correctly assign
refunds for returns
received.
Strong
relationships with
vendors to
supply the raw
materials needed
throughout the
manufacturing
process.
Firms must
predict what
customer’s
future needs
will be and act
accordingly.
Transforms raw
materials by
using
machinery,
labor, or other
external forces
to make
something new.
Key Components:
5.
6. Conclusion:
● The future of supply chain management is likely to be
shaped by several emerging trends. These include the
rise of e-commerce and omnichannel retailing, the
increasing use of automation and robotics, and the
adoption of new technologies such as blockchain,
artificial intelligence, and 3D printing.
● To stay ahead of the curve, organizations need to
anticipate these trends, embrace innovation, and
continuously adapt their supply chain strategies and
operations.
