Supply chain management comprises management of projects, quality, technology, service operations, strategic manufacturing, revenue, business analytics, advanced materials management and operations research among others. Of these branches retail management takes centre stage in honing skills of supply chain managers. In a nutshell supply chain management integrates supply and demand management within and across companies.
Supply chain management includes managing supply and demand, sourcing raw materials and parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels and delivery to the customer.
According to MS Prasad, professor, Icfai Business School, Hyderabad, "There is a lot of scope for supply chain management (SCM) in India due to increasing uncertainty of supply networks, globalisation of businesses, proliferation of product variety and shortening of product life cycles.” Personalised content and services for customers add to the cause.
With Inputs From India Today. © 2011. LMIL. All rights reserved.
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