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which of the following is true for supply chain management

which of the following is true for supply chain management

which of the following is true for supply chain management

which of the following is true for supply chain management: TheSCM (Supply Chain Management) is Generally defined as the flow of goods and services that includes (Processes, Systems, People), from the development of the product of raw materials to delivery and final consumption.

What is Supply Chain Management?

which of the following is true for supply chain management refers to optimizing the creation and flow of a product from a supply of the raw materials to production, logistics, and delivery to the final client.

which of the following is true for supply chain management

Have you ever wondered what path a product should have been followed until it reached our hands? Stick with the name Supply Chain Management. This Process, called Supply Chain Management(SCM), must be adequately understood to carry any business strategy successfully. Let’s start by explaining what it consists of and then deepen its optimization and advantages.

which of the following is true for supply chain management

What is Supply Chain Management SCM or A Supply Chain Management

Following the definition of the Council of Supply Chain Management Professionals (CSCMP) by “supply chain,” we understand “the different links that occur in a company, which of the following is true for supply chain management ranging from unprocessed raw materials to finished products that reach this final consumer.

SCM is a life cycle of a product or a service, from conception to consumption. A subsystem within the organization encompasses planning the supply, manufacturing, and distribution activities of products. Ultimately, the supply chain contains supply and demand, inside and outside the company.

There are different definitions of the concept of Supply Chain or supply chain. We will keep that SCM is  an integrating work philosophy to manage all these flows in the various distribution channels:

  • Providers
  • Customers
  • End consumers

Phases of these Supply Chain

During these processes in the Supply Chain, there are various links (purchasing, supply, inventory management, transportation, maintenance …). Actors such as suppliers, which of the following is true for supply chain management manufacturers, distributors, wholesalers, retailers, and the clients or end of consumers participate in them.

All of them work hand in hand to enjoy a particular product or a service. But what phases do we differentiate in these Supply Management chains?

  1. Supply. How and where do we obtain raw materials?
  2. Manufacturing. Convert these raw materials into the finished products.
  3. Distribution. The final product is transferred to shops, which of the following is true for supply chain management factories, and places of the sale so that the consumer can purchase it.

which of the following is true for supply chain management

Importance of good supply chain management

Once these concepts are clarified, we will see why it is good to implement them on a good supply management chain. We detail what these benefits it generates are:

  • Customer loyalty. Thanks to efficient production processes, customer service improves delivery time or purchase conditions. This causes customers to have a brand in mind when they think of these specific products. If the shopping experience is satisfactory, this will repeat.
  • Better control. With the defined Process, which of the following is true for supply chain management we can know where the product is in the chain in real-time. This allows greater control with external actors such as suppliers, and this way, we can quickly and easily access a more significant number of offers. In addition, it allows you to track the dates of inputs of supplies, production, distribution dates, etc.

Also Read: 5 Technical Aspects of Your Business You Should Know How to Manage

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