Retailers will identify how e solutions can support their B2B activity. [printfriendly]
Supply Chain Management
What is supply chain management?
Supply chain management (SCM) is the management of the flow of goods. It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. Interconnected or interlinked networks, channels and node businesses are involved in the provision of products and services required by end customers in a supply chain.
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, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally.” (Source:Wikipedia)
Value chain vs supply chain (pull vs. push) and how it can improve process, better service and saved cost.
Why is it important?
Customers get products faster and more effectively which improves quality of buyer experience, quality and saves you money as a company.
For a company selling products to another company this is critical. As a company buying products from another company, to sell to your end customers is also very important.
Retail companies become involved in supply chain management in order to control product quality, inventory levels, timing, and expenses. In a global economy, supply chain management often includes dealings with companies and individual contributors in other countries, which requires involvement in politics, trade and tariff laws, quality control, and international relationships.