Sreejita Talukdar, Content Writer, siliconindia

After a hustling day, we all love to sit and grab a scrumptious slice of pizza and enjoy it over a cup of hot coffee with our favorite web series or movie. But do you know the food reaches you after a long process abiding by the steps and methods associated with Supply Chain Management (SCM). If any of the function goes wrong, there will be huge loss. Any business, irrespective of its scale and profit making capability, Supply chain Management plays a pivotal role in seamless functioning of it.

Gravity of Supply Chain in Business

Supply chain management is activated at the onset of production, ensuring a precise and seamless flow of raw materials until delivery to customers. SCM encompasses integrated planning and execution processes crucial in monitoring material, information-communication as well as financial capital movements across demand-planning, sourcing & inventory control mechanisms through logistics-related activities such as transportation along with returns-management too.

SCM is consisted of an integrated planning and execution process which is crucial to keep an eye on the movement of materials, information and financial capital in activities that broadly include demand planning, sourcing, production, inventory management and storage, transportation or logistics and returning excess or defective products. An effective and efficient supply chain management solely trusts on business strategy, specialized software and collaboration.

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SCM needs a strong bridge of communication between the partners at the ends such as suppliers, distributors, sellers, marketers, manufacturers and more. Each part of the system must communicate and work in sync to create efficiencies, manage risk and adapt quickly to change.

Maintaining tighter internal controls over inventories (company-owned), vendor developments vis-a-vis others related aspects within industry verticals should be prioritized consistently throughout key engagements, tasks or projects assigned invariably impacting other project deliverables ultimately complementing supply chain objectives, so that collaboration levels among all backend partners remain high round the clock.

“We care about every worker in our worldwide supply chain… What we will not do – and never have done – is stand still or turn a blind eye to problems in our supply chain. On this you have my word.”-Tim Cook, CEO of Apple and Supply Chain Expert