In business, supply chain management, which include the process of the:
- movement and storage of goods
- materials and services
- between locations and companies
- manages the flow and allocation of materials
- work-in-transit inventory
- final goods and end-to-end distribution within geographical boundaries
A supply chain is a key management strategy in businesses that aim to reduce the cost of production, increase operational efficiency, and improve the quality of customer service. The supply chain has become an integral part of strategic planning in numerous fields such as:
- energy
- engineering
- construction
- supply chain management
- healthcare
It enables companies and organizations to efficiently manage their supply chains, allowing them to provide competitive advantage.
Logistics is the science of gathering and transporting managing and positioning goods or services to their proper points of delivery within a time period. Supply chain in supply chain management involves various processes like:
- logistics planning
- material transportation
- inventory control
- supply chain management and system checking
Before learning about this, get some info about IELTS training Dubai fees. The five major components of supply chain management are:
- supply chain management
- information systems
- supply chain software
- logistics monitoring
- quality management systems
There has been substantial improvement in supply chain management strategies for retail companies. With increased competition, retailing houses have to be even more innovative and flexible to survive. Retail supply chain is highly important for any retailing business. Some of the factors that affect retail supply chains are:
- customer demand
- shelf-life of products
- profit margins
- training and development needs
- staff training and motivation
- business development
- return on investment and competition
Apart from retailing, other business segments like:
- wholesale and custom apparel
- health and wellness
- electronics and furniture
- software and chemicals
- packaging and supply chain management activities have also shown significant improvement in logistics technology.
Logistics is a term used to define the process of receiving, storing and transporting goods. The basic function of logistics management is to optimize the delivery of a product by improving the supply chain. Logistics and supply chain management courses in Dubai is a broad concept that includes five stages:
- planning
- product development
- manufacturing
- logistics
- management and distribution
Manufacturing stage is responsible for the supply of final products to the customers. It includes the assembly of manufactured goods, including raw materials. It is also responsible for providing labor and resources to manufacture the final products. The final products include finished goods that are transferred from production plants to the final users.
