Supply Chain Management: Home Depot Introduction (What does it mean to become a “supply chain company?) Supply chain management is a strategic planning process whereby the supply chain is controlled in the efficient way possible (TechTarget 2010). This whole process is implemented from the origin (finished goods) to the level of consumption by the consumer. The main benefit of supply chain management is to reduce the level of inventory as much as possible (Ballou 2005). The flow of supply chain management is mainly divided into three strategic processes namely product flow, information flow as well as finances flow. Product flow is all about the movement of products from the supplier to the consumer, whereas information flow involves order transmission as well as status delivery update. On the other hand, finances flow involves major arrangements such as credit terms, schedule of payments, as well as title ownership. There are a number of supply chain management applications that are based on model known as open data. This model helps in supporting the process of data sharing both inside as well as outside the available project.
Buy this excellently written paper or order a fresh one from acemyhomework.com