Notes On Supply Chain Management - 2119 Words

BIS 647 Enterprise Systems for Management using SAP Software Report Group 4 Padmavati Srinivas Pappala – pappa1ps (GBI-082) Tarakarama Ravi Teja Godavarthi – godav1t(GBI-067) Venkata Satya Raviteja Kollu– kollu1v(GBI-071) Topic: Supply Chain Management in the field of business ABSTRACT The term supply chain defines the combined efforts of different organization in reaching of a product to the end user. The concept of Supply Chain Management lies in the idea of maximizing the customer value and attain competitive advantage. The SCM incorporates the development and capacity of raw materials, work-in-procedure stock, and completed products from the beginning point to processing to the final customer. By proper management of the†¦show more content†¦INTRODUCTION Every product or service goes through several processes and steps before reaching the customer. When a company makes a product from raw materials bought from a supplier and sell it to a customer then, there is a supply chain in place (Murray, 2014).Each product has a different series of steps that transform the raw materials into finished products, events in the supply chain lead to this conversion. Supply chain represents the flow of information and finances also and not just materials. Here, information means the knowledge of delivery dates and stock updates. Materials flow in the direction of the supply chain while finances flow in the opposite direction and information flows in both the directions (Renganathan, 2014). Supply chain management can be defined as the things that are done to influence the supply chain in order to get the desired results with competence in the best interest of the market being serv ed (Basic Concepts of Supply chain Management). Each supply chain has its unique set of demands and challenges which vary depending upon the size of the business and the product itself. ELEMENTS OF SUPPLY CHAIN There is a basic outline to the exercise of supply chain management. It involves several elements that help in the movement of the product or service from the manufacturer to the customer. The elements involved are customer, planning, purchasing, inventory, production and transportation.