Your supply chain will have an immediate effect on your business if it is managed efficiently and appropriately.
Supply Chain Management is the management of your activities within your supply chain that will enable you to maximise your customers value and attain a competitive advantage. You will need to operate your supply chain in the most effective and efficient way you can. Some activities that are included in a supply chain will include:
- Product Development
- Information Systems
Benefits of a responsibly resourced supply chain:
- Improve collaboration with suppliers
- Improve product quality
- Reduce the risk of negative PR
- Attract and retain new employees
- Provide security for investors and creditors
- New Market Opportunities.
Some of the benefits efficient supply chain management can achieve include:
- Suppliers – Supply the raw material to the manufacturer for processing.
- Manufacturer – Converts raw material into finished goods and delivers them to Distributors.
- Distributors – Takes delivery of finished goods from manufacturers for distribution among retailers.
- Retailers – Sell the product to the customer.
- Customer – Uses the finished product, after purchasing from the retailer. A customer could be either a individual or a business entity.
If you are looking to improve your supply chain management, contact our Supply Chain Consultants today and find out what improvements you could make.
See below our logistics consultants infographic on supply chain management: