What Is Supply Chain Management ?
Supply chain is nothing but effective management of flow of goods and services. The process involves storage and movement of raw materials, inventory and finished goods from source to destination.
It may also be defined as the process which includes designing, planning, execution, control and monitoring of supply chain activities.Objectives of Supply chain management process
· Measures performance globally
· Balance demand and supply
· Logistic management
· Helps build effective infrastructure
· Above all, creates net worth for a business
What Is Reverse Supply Process ?
Reverse supply process is the process of management of the return of goods. This is initiated from where the goods were delivered. It is in sync with the reverse logistics process which is the procedure of returning the goods back to inventory or warehouse. Returned goods are sent back to the vendor from where they were brought for replacement purposes or are scrapped.
What Are Supply Chain Centroids ?
Supply chain centroid is an area where a high proportion of the human population exists. It is also where a high proportion of a company's manufacturing exists generally within 805 km. of distance.
What Are The Components Of Supply Chain Management ?
· Leadership structure and power
· Reward structure
· Risk structure
· Management Methods
· Information flow facility structure
· Organisation Structure
· Work Structure
· Product flow facility structure