Supply chain management, on the other side is viewed as a management philosophy (Mentzer, 2001). Supply chain management can be defined as the encompassment of management and planning of various activities that are involved in sourcing, procurement, conversion as well as various other activities regarding logistics. The most important aspect of SCM is that it includes collaboration and co-ordination of different channel partners including suppliers, intermediaries and customers. In simple words, SCM integrates the demand and supply management across and within the companies (Council of Supply Chain Management Professionals, n.d.). The SCM concept views all the channel partners as a ‘single entity’ instead of considering them fragmented parts. According to Stevens, main objective of maintaining the supply chain is synchronizing the flow of goods and services with the needs of the customers so as to manage the balance among the high customer service, low unit cost and low inventory management (Mentzer, 2001). Monczka opined that SCM’s primary objective is managing and integrating the source, flow as well as the control of materials by using a perspective of ‘total system’ across different tiers of suppliers and different functions (Mentzer, 2001).
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Supply Chain Management Table of Contents Supply Chain Management 3 Role of SCM 4 References 5 Supply Chain Management Supply chain management (SCM) is found to be an important concept that is greatly practiced in the world of modern management. The term first came in the picture during late 1980s…
Better collaboration in turn means greater communication. When firms communicate effectively (even in diverse geographical parts with different cultural backgrounds) and given that these firms are customer –focused, then knowledge on the customer value is created.
Now the business firms are not competing individually in the markets rather they are the part and parcel of different supply chain links. The only way in order to succeed in the market is that the business managers must have the ability to link different business networks or supply chain links in an effective and efficient way.
Organizations have come up with various innovative methods in all these process, which not only provide good SCM but also add value to their businesses as well as the environment including their suppliers, society as well as economy. Supply chain strategy is critical to its sustainability.
A good supply chain allows the organization to reduce the cost for its products without compromising on the quality and the relationship they maintain with their suppliers. To overcome this challenge, organizations have moved on to outsource their suppliers to developing countries just as China, Brazil, and Poland etc.
Green Supply Chain Management.
Although the concept of green supply chain is one of the most argued topics among industrial experts and research scholars but surprisingly very few researchers have tried to explore the topic seriously. To understand the core concepts of green supply chain management, one has to define supply chain management.
To bring the main actors in the market together, for example, suppliers, manufactures, and stores are put together to simplify the production of commodities being produced, and then circulated at the right time. The captions are going to capture the
It brings integration of various processes such as production operations, buying goods and services, transportation and distribution. A successful supply chain management programs ensures these processes are integrated and coordinated into a process that is seamless
The micro-economic approach in regard to market logistics and strategic plans of an organization is extensively discussed. The effective warehouse management and transport arrangements are basic market logistic constituents (Jespersen & Skjøtt-Larsen, 2005). It is
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