What Is Supply Chain Management?
Supply chain management refers to the coordination and oversight of activities involved in the production, procurement, transportation, and distribution of goods or services from the point oforigintothepointofconsumption.Itsprimaryfunctionistoensuretheefficientandeffective flow of materials, information, and finances across the entire supply chain network.
The Five Functions of Supply Chain Management:
● Purchasing: Purchasingis thefirst functionofSupply Chain Managementandpertains to procuring raw materials and other resources that are essential for the manufacturing of a product or goods.
● Operations: It includes demand planning and forecasting, inventory management, production, and shipping to meet market demandandavoid excess inventoryorrevenue loss.
● Logistics: Coordinating storage and transportation of products, arranging local warehouses, ensuring smooth delivery to the end-point.
● Resource Management: Efficient allocation of raw materials, technology, time, and labour to optimize production and reduce costs.
● Information Workflow: Sharing and distributing information is what keeps all of the othertasks ofsupply chainmanagementrunningsmoothly. Iftheinformationworkflow and communication are weak, the entire chain may fall apart.
ReadytoenhanceyourexpertiseinthedynamicfieldofProcurement&ContractManagement?
Are you in search of an exceptional online certification program? Look no further, as we
present the perfect opportunity for upskilling – theOnline Contract Management Certificate Programs offered by UniAthena. This comprehensive program has 100% online delivery. With flexible learning durations and the advantage of getting certification, this diploma is tailored to meet your professional aspirations. Don't miss out on this remarkable opportunity to boost your career standing. Sign up for an Executive Diplomain Procurement & Contract Management course now and witness firsthand how this course can propel your professional growth.