What is Supply Chain Management?
Supply chain management is the management flow of goods and services, that includes all methods of raw materials to final products. Supply chain management includes all the activities from raw material to final products.
Supply-chain management has been defined as the “design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value.
Objectives of Supply Chain Management
- Supply chain management tries to minimize shortages and keep costs down.
- To Minimise work in progress.
- To Reduce transportation cost.
- To increase distribution channel of the product.
- To provide social services by giving them electricity, food, medicine and etc.
- To make plans and strategy in order to maximise productivity and achieve on-time performance.
- To increase customer satisfaction by delivering products to consumers on time and providing fast service.