Supply Chain Management : Sounds Geekish, but is very much commonsense
Have you heard of Just-in-time, TQM, The rise of Toyota as a powerful global player in the automotive industry, even surpassing the gaping mouths of the big three in the United states? You would have certainly come across the term ‘Supply Chain Management’ – It sounds like jargon, doesn’t it? Well, it isn’t so difficult to understand and it is something most manufacturing ( even services!) industries indulge in today. Supply Chain management basically means that the process of managing the whole process of finding a suitable raw material, processing it and converting it into something valuable or useful that could be sold to the market.
The better a company is in managing its resources, the process of locating its raw materials, processing them, working on them, the entire production process, the out put, the packaging and even the labelling might constitute a simple supply chain management case study.
According to the CIO Magazine,
Supply chain management (SCM) is the combination of art and science that goes into improving the way your company...