The reforms have occurred due to the amplified market competition to deliver better value to their customers. A new system had definitely succeeded in delivering higher values to the clients - thanks to Supply Chain Management.
Supply Chain Management or SCM is a blend of art combined with technology which works to improve the business ways, functions, processes that are a part of a product formation and its delivery. Supply Chain Management is clearly defined as "A combination of various processes that start from the initial phase of the product till the finished consumption of the same product by the consumer. It is a process which involves the planning, implementation of these plans, and controlling of the product manufacture with the intention of providing complete satisfaction to the customer." (Kim, 2006). The basic activities that are encompassed within a supply chain are resource collection, procurement, warehousing, transport management activities, co-ordination with partners, suppliers and most importantly - the customers. ...Show more