Supply Chain Management

COURSE REVIEW ON SUPPLY CHAIN MANAGEMENT

This is a very interesting course, well detailed and structured. Supply Chain Management is a very important aspect of any business or company big or small.
From My understanding, I can pick out the major points below as what supply chain management is and the role it plays in the life of every business and trade.
They are listed as follows:
1. Supply change management (SCM) is the management that links and create interactions
within an organization, interdependent companies and small business entities comprising of
suppliers of raw materials, procurement, manufacturing processes, logistics, advertisement,
and other associated systems, that stimulates the onward and inverse flow of materials
services, investments and information from the producer to final consumer, with the aim of
adding value, increase profitability through efficient processes, Lowering Cost, Improve Performance and achieving customer’s satisfaction.

2. SCM simply refers to the general process of procuring raw materials from the suppliers, process raw material into finished goods and ensure the goods get to the final consumers. For Instance: Suppliers provide raw materials to the factory store, the factory transforms the raw material into finish goods and then marketing and sales unit ensures the goods get to the final consumers. The middlemen wholesalers and retailers also play crucial roles in ensuring the goods get to the targeted consumers.

3. It gives a clear definition of the terms in stages, Levels and supply Chain Flows, with their individual effects in Business. Such as : i. Product Flow, Information and Financial Flow, which are the key factors in Supply chain. Also it gives indebt Knowledge of Inventory which is a primary focus in Supply chain.

4. Supply Chain Management basically has five basic components which
include, Plan, Source, Make, Deliver and Return.
A Plan: O rganizations must have an effective strategy on how to properly manage the scarce resources in order to accomplish customer’s loyalty, retention, and preference for their goods and services. The SCM is evolving a set of metrics to supervise the supply channels to deliver good quality services to their customers.
B. Source: For a firm to be able to manufacture products, the firm needs to be very cautious when choosing suppliers. There is a need to develop a set of pricing and distribution system in the supply chain.
C. Make: The manufacturing process should always have schedules of activities that are required for production, packaging, testing and delivery. It is the responsibility of the factory manager to oversee the entire processes involved.
D. Deliver: This simply refers to logistics involve in the SCM. It is required that companies organize most efficiently the receipts of orders, efficient channels of distribution, and a network of warehouses developed.
E. Return: An efficient channel of inverse flow of product with defect most be properly
designed. The process should be flexible and responsible. Some this component is complicated but it can be managed if there is good communication between the producers and other members of the chain involved especially the customers.
5. Tracking Monitoring and stock keeping are possible ways of getting suppliers and producers keep records of product for customer satisfaction and build the relationship for business sustainability.
6. Because in all, Customers satisfaction is a consequence of supply chain management which reflect on the value of product delivery created by supply chain companies.
7. Supply Chain effectively implemented in all transactions and dealings with all members of the supply chain network especially the customers, shows high level of responsibility, flexibility in Business operational at any stage of the transaction. All this is because what is perceived by the customer is more important than the members of the supply chain network.

Thank You it was a very good opportunity to know all these factors in business and a good advancement in my career.