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Hi Haseeb,
Supply Chain Management is the management of physical goods movement, information flow and the cash flow.
Take following example from the Automotive Industry I am working in:
You as customer are ordering your brandnew BMW at your car dealer. Here is in a simplyfied picture what is happening until you can finally drive off from your perspective. Every stakeholde in this process has his own view and his own goals within the supply chain, i.e. low inventories, fast delivery, fast payment terms from customer, long payment terms to suppliers, quality, ... For you obviously the most important is that you get your car on time and, if you want to, can pay later to optimize your cash-flow.
The overall management and optimizatoin for the for your company relevant indicators is key element for supply chain management.
Best Regards
Thomas Becker
Building on globalization and specialization, the term "SCM2.0" has been coined to describe both changes within supply chains themselves as well as the evolution of processes, methods, and tools to manage them in this new "era". The growing popularity of... collaborative platforms is highlighted by the rise of TradeCard’s supply chain collaboration platform, which connects multiple buyers and suppliers with financial institutions, enabling them to conduct automated supply-chain finance transactions.[14]
Web2.0 is a trend in the use of the World Wide Web that is meant to increase creativity, information sharing, and collaboration among users. At its core, the common attribute of Web2.0 is to help navigate the vast information available on the Web in order to find what is being bought. It is the notion of a usable pathway. SCM2.0 replicates this notion in supply chain operations. It is the pathway to SCM results, a combination of processes, methodologies, tools, and delivery options to guide companies to their results quickly as the complexity and speed of the supply chain increase due to global competition; rapid price fluctuations; surging oil prices; short product life cycles; expanded specialization; near-, far-, and off-shoring; and talent scarcity.
SCM2.0 leverages solutions designed to rapidly deliver results with the agility to quickly manage future change for continuous flexibility, value, and success. This is delivered through competency networks composed of best-of-breed supply chain expertise to understand which elements, both operationally and organizationally, deliver results, as well as through intimate understanding of how to manage these elements to achieve the desired results. The solutions are delivered in a variety of options, such as no-touch via business process outsourcing, mid-touch via managed services and software as a service (SaaS), or high-touch in the traditional software deployment model.
Supply Chain Management is a process which originates right from initial stage of product planning, which further includes the movement and storage of raw materials,semi-finished( work-in-process inventories, includes pakaging,pricing reasearch) and finished goods from point of origin to point of consumption i.e to end customers consumption
A supply chain is comprised of all the businesses and individual contributors involved in creating a product, from raw materials to finished merchandise. Examples of supply chain activities include farming, refining, design, manufacturing, packaging and transportation.
scm is the management of a network of interconnected businesses involved in the provision of product and service packages required by the end customers in a supply chain. Supply chain management spans all movement and storage of raw material, work-in-process inventory, and finished goods from point of origin to point of consumption.
supply chain is the process related with goods and its movement from one place to another or from the warehouse to the destination . it a cycle process that never stop ,logistics is just a part of supply chain
Supply chain management is proper coordination and matching of the inflows from up stream in relation to the out flow downstream and thus ensuring that no undue build up of rawmaterials, work in progress and finished goods inventories whilst having adequate buffer stocks of all inventories to address contingencies and thus fine tune the process to be more cost effective and efficient. The process also involves thorough and stringent quality controls at all levels and is to ensure that no stock outs, delays, hot spots, bulges and frustration occurs at all levels and the flow is streamlined and smooth. The mainability of the Supply Chain Manager is to plan, set out the supply channels and distribution channels with adequate redundancy and efficeincy and then insert the controls and the control poins and procatively manage the total system.
Supply chains include every company that comes into contact with a particular product. For example, the supply chain for most products will encompass all the companies manufacturing parts for the product, assembling it, delivering it and selling it.
Supply Chain Management means from the time product produced till it reached to the final destination. Right product, Right Time, Right customer.
