{"id":13102,"date":"2015-07-14T10:00:18","date_gmt":"2015-07-14T10:00:18","guid":{"rendered":"https:\/\/www.whizlabs.com\/?p=13102"},"modified":"2015-07-14T10:00:18","modified_gmt":"2015-07-14T10:00:18","slug":"supply-chain-management","status":"publish","type":"post","link":"https:\/\/www.whizlabs.com\/blog\/supply-chain-management\/","title":{"rendered":"Supply Chain management"},"content":{"rendered":"

Imagine a scenario where you went to your local retail store or online store and discovered that the latest electronic gadget or the latest book that you were so eagerly waiting to purchase was \u201cnot in stock\u201d! The immediate reaction will be to check other retail stores or simply move to other online portals. To avoid this and lose potential customers an effective supply chain strategy is needed.\u00a0 The main components of a \u2018Supply chain management\u2019, what it is, the necessity to have a SCM in place and SCM analytics will be the focus of this post.<\/p>\n

What is Supply Chain management?<\/h3>\n

The major components of an effective SCM are suppliers, manufacturers, distributors, retailers and customers. \u00a0The effective movement of the major components of SCM thereby maximizing profits for the organization, providing customer satisfaction and reducing inventory is the basic idea behind \u2018Supply chain management solutions\u2019.\u00a0 Wikipedia defines SCM as \u201cSupply Chain Management<\/strong>\u00a0(SCM<\/strong>) is the management of the flow of goods and services. \u00a0It includes the movement and storage of\u00a0raw materials<\/a>, work-in-process inventory, and finished goods from point of origin to point of consumption\u201d (Supply Chain management)<\/p>\n

Why Supply Chain management:<\/h3>\n

The two primary reasons for Supply chain management are stated as follows:<\/p>\n

    \n
  1. As more and more businesses proliferate all across the globe, competition is fierce and every organization would like to stay ahead and reap huge profits. Local businesses are dealing with new foreign competition and they have to find innovative ways to stay ahead. One way increased profits can be achieved for organizations is by adopting an effective supply chain management solution.<\/li>\n
  2. The \u2018Information Age\u2019 has bombarded us with plenty ways to communicate and most customers want products instantly by the click of a mouse (or a button on the phone). This change from a static age to \u2018Information Age\u2019 is fuelling the growth for new SCM solutions.<\/li>\n<\/ol>\n

    Top 5 Supply Chain list:<\/h3>\n

    After having seen the meaning of \u2018Supply chain management\u2019 and the necessity for having SCMs, we will next see Gartner\u2019s top 5 supply chain list:<\/p>\n

      \n
    1. Apple<\/li>\n
    2. Procter and Gamble<\/li>\n
    3. com<\/li>\n
    4. McDonalds<\/li>\n
    5. Unilever<\/li>\n
    6. Intel and<\/li>\n
    7. Inditex<\/li>\n<\/ol>\n

      Both \u201cApple\u201d and \u201cProcter and Gamble\u201d have been included in the \u201cMaster list\u201d of Supply chain leaders. \u201cApple\u201d has become the \u201capple of consumer\u2019s eyes and spending habits\u201d. The iPhone, iTunes and Apple Pay have only charmed the user further. This has enabled Apple to lead the supply chain from 2008 -2014.<\/p>\n

      Similarly, P&G \u201c\u00a0embedded the concept of a consumer-driven supply chain\u201d\u00a0 (The Gartner Supply Chain Top 25 for 2015, 2015) and made efficient use of the supply chain to stay ahead.<\/p>\n

      Amazon.com -the leader in constantly innovating things, McDonalds, Unilever, Intel and Spanish clothing retailer Inditex round off the top 5 supply chain leaders.<\/p>\n

      Analytics in SCM:<\/h3>\n

      After having seen our supply chain leaders for 2015, let us see how analytics plays a role in SCM. Analytics seems to be the word that seems to be associated with most industries \u2013 we have \u2018data analytics<\/a>\u2019, \u2018twitter analytics\u2019, \u2018Google analytics\u2019, \u2018fraud analytics\u2019, \u2018credit risk analytics\u2019 and so on. And to apply analytics to SCM is the most obvious thing to do \u2013 because predicting future growth is only possible by analyzing past data.<\/p>\n

      Supply chain intelligence allows you to study the raw data pertaining to existing business chains and allows you to better manage the inventory in real time. This in turn, enhances customer buying bringing in more profits.\u00a0(Supply Chain Intelligence)<\/p>\n

      We have seen \u2018Supply chain management\u2019 in this post. This area is again poised for more growth as time goes by.<\/p>\n

       <\/p>\n

      Bibliography<\/h5>\n

      Supply Chain Intelligence. (n.d.). Retrieved from sas.com: http:\/\/www.sas.com\/en_in\/software\/supply-chain.html<\/em><\/p>\n

      Supply Chain management. (n.d.). Retrieved from Wikipedia.org: https:\/\/en.wikipedia.org\/wiki\/Supply_chain_management<\/em><\/p>\n

      The Gartner Supply Chain Top 25 for 2015. (2015). Retrieved from Gartner.com: https:\/\/www.gartner.com\/doc\/3052620?srcId=1-3132930191#a-1860903150<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

      Imagine a scenario where you went to your local retail store or online store and discovered that the latest electronic gadget or the latest book that you were so eagerly waiting to purchase was \u201cnot in stock\u201d! The immediate reaction will be to check other retail stores or simply move to other online portals. To avoid this and lose potential customers an effective supply chain strategy is needed.\u00a0 The main components of a \u2018Supply chain management\u2019, what it is, the necessity to have a SCM in place and SCM analytics will be the focus of this post. What is Supply […]<\/p>\n","protected":false},"author":145,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[26],"tags":[],"class_list":["post-13102","post","type-post","status-publish","format-standard","hentry","category-project-management"],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"profile_24":false,"profile_48":false,"profile_96":false,"profile_150":false,"profile_300":false,"tptn_thumbnail":false,"web-stories-poster-portrait":false,"web-stories-publisher-logo":false,"web-stories-thumbnail":false},"uagb_author_info":{"display_name":"Sparsh Goyal","author_link":"https:\/\/www.whizlabs.com\/blog\/author\/sparsh\/"},"uagb_comment_info":0,"uagb_excerpt":"Imagine a scenario where you went to your local retail store or online store and discovered that the latest electronic gadget or the latest book that you were so eagerly waiting to purchase was \u201cnot in stock\u201d! The immediate reaction will be to check other retail stores or simply move to other online portals. To…","_links":{"self":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts\/13102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/users\/145"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/comments?post=13102"}],"version-history":[{"count":0,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts\/13102\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/media?parent=13102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/categories?post=13102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/tags?post=13102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}