Supply chain management is in effect a value chain. That is why the research study undertaken in this paper indicates that it is a management of those relations that add value to the supply chain. There are a number of hardships or interruptions that usually occur in such management of supply chains. But strategic approach to supply chain management helps in overcoming such interruptions or limitations. The strategic approach to SCM facilitates the integrated handling of the functions of the business, especially the procurement function and the logistic functions at the front and at the back ends of the business. As a result SCM comes handy in value creation as well as value addition. But supply chain management has a demerit, as SCM gives prominence to materials management and treats the customer requirements of logistic as an appendix to the business.
Michael H. Hugos (2) states that “Supply chains encompass the companies and business activities needed to design, make, deliver, and use a product or service. Businesses depend upon their supply chains to provide them with what they need to survive and thrive. Every business fits into one or more supply chains and has a role to play in each of them.”i In other words every business action is a process in the supply chain of which it is a link somewhere. The objective is to develop relationships of many such actions whereby products or services are developed and delivered to the ultimate consumer. In simple language supply chain is a network of activities that combines the actions from production or procurement of product or services till its delivery to the consumer.
Management of such a network is a tricky affair and only experience hands achieve proficiency in the management of supply chains. It must be understood that “at the end of the day, supply chain management is a relationship management. A supply ...
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