Supply chain management involves all processes involved in converting raw materials into finished goods that are delivered to customers, including manufacturing, distribution, and transportation. It aims to make movements of goods simple, cost-effective and efficient. Materials management is a core supply chain function that regulates the flow of materials based on changes in demand, prices, availability, quality, delivery and schedules. Just-in-time inventory systems aim to minimize inventory levels by aligning raw material orders directly with production schedules to reduce storage costs. Forecasting provides information about past, present and likely future events to help managers make planning decisions with confidence.

1. 1. Supply Chain Concept and example
Supply chain concept is a specialized field in logistics in which it comprises of
all the business and individual contributors to make a new set of products, from raw
materials to a finished merchandise that will directly delivered to the customers. it
describes the processes and organizations involved in converting and conveying the
goods from manufacturers to consumers.
Some of the examples of supply chain management are digital purchases we
see online in which it processes through websites that will accepts the customer’s order
and then the supplier, moves through shipping and then deliver to the customers within
the day. Supply chain make the movements simple, cost-effective and efficient as
transport simpler.
1. Explain the Inbound Logistic System
Inbound logistics refers to the incoming transportation of products to storages
inside the business. These process plays a vital role in the supply chain and have a
direct impact on the success of the business. It makes a smooth flow of raw materials
and ensure that the finished product lives up to the claims. It is particularly important
because it serves as the management of the delivery of all the products in business.
2. What is Materials management?
It is a core of supply chain function that includes supply chain planning and supply
chain execution capabilities. It deals with the controlling and regulating the flow of
material relation to changes in variables like demand, prices, availability, quality,
delivery and schedules. It is important function of an organization covering the proper
handling of various aspects of products and input process.
3. Explain the Just in Time concept and its importance.
It is an inventory system and is a management strategy that aligns raw-material
orders from suppliers directly with productions schedules. The most important benefit of
JIT is the elimination of the raw materials, inventory and product storage costs. Its
purpose is to minimize the amount of goods you hold at any one time. It maintains the
inventory in such a way that manufacturer should not face problems of excess inventory
or less inventory.
4. Importance of Forecasting
It provides relevant and reliable information about the past and present events and
the likely future events. It gives the confidence to the managers for making important
decisions. It is also the basis for making planning premises. Forecasting is concerned
with the future events of the company. It shows the probability of happening of future
events.