Supply Chain Management - An Overview

SCM is an abbreviation for supply chain management. This process is utilized by all organizations around the world to effectively manage their supply chain process. By carrying out such process the firm's processes would ensure that systems are in place to ensure optimum efficiency.

Through such processes, the organization can achieve overall efficiency and competitive advantages can be sought out through such processes. Supply Chain Management is not just limited to products and services, but it also would cover any form of Information Technology and other based operational services. Every part and integral process related to production is covered under the purview of supply chain management.

Components of Supply Chain Management

In the Supply Chain Management process, the supply chain manager would ensure that sufficient systems are in place in order to ensure that operational efficiency is maintained throughout the organization. Hence an organization would have a supply chain manager to handle all the operations related to supply chain processes.

The whole supply chain process would depend on the development, supply and shipment of products from one place to another place. For example, if we consider the Walmart Model related to supply chain then the department chain operates effectively in order to ensure that all product orders are placed. This would be carried out by the supply chain department in order to streamline the entire process related to purchases, sales and resupply goods in order to replace the existing supply.

Hence it would be the duty of the supply chain department or the manager to ensure that the supply chain process is present in an organization.

The following are the components of Supply Chain Management (SCM):

• Supply Chain Plan or Strategy

  The supply chain plan or strategy would be the main blue print for supply chain management in an organization. This would only be dependent on the planning aspect carried out by a supply chain department of an organization. The plan would include all the resources which are utilized in carrying out the services in an organization. The supply chain plan or strategy would affect the outcome of the services offered in the organization. Such strategy has to be implemented by the organization in order to ensure services are provided efficiently. Moreover, such supply chain plan and strategy has to be amended from time to time to ensure that the current objectives are carried out.

• Sources

  The sources of supply would depend on various aspects. For example, if the firm is operating domestically, then domestic sources would be utilized for supply chain. If an organization is operating on an international level, then international and cross border boundaries would be carried out. Apart from this, the organization or firm would also have to consider what part of the manufacturing hierarchy it operates at. There are different levels related to hierarchy at which the organization operates. Based on the requirements such as capital goods, raw materials and other products, the supply chain flow would operate throughout the organization. Also the organization must consider all sources for the supply of products.

• Manufacturing Processes

  This component will include the quality and quantity of the finished product. A supply chain manager would place emphasis on this aspect, if the final product or finished good aims for quality. For example, iPhone manufactured by Apple would place emphasis over quality as well as quantity of the products. As the product offers different features to consumers, still many consumers are buying iPhones. Similarly the features of different products would also be taken into consideration when making a supply chain management plan.

• Delivery and Logistics

  Delivery and Logistics would be the part and parcel of a supply chain management program. For example, if the order is placed in one geographical location, the finished product would have to be delivered or couriered to another location which is located in another part. Even after the product is delivered to another part of the globe, the logistics which are implemented by the company to make the product reach the final customer would be taken into consideration.

• Returns

  This would be required for many forms of defective products and items. For example, take the Online Delivery giant Amazon which operates worldwide. Amazon throughout the world has different fulfillment centers to ensure products are delivered to the customer. Apart from this, customers would also be able to return back products which are not up to their expectations. This would be done by the customer and the end-to-end process would be taken up by the fulfillment center. Hence emphasis must be provided when it comes to returns.

• Machinery and Systems

  Systems and Machinery around the world play an important role in SCM. For example, there are different forms of industries that utilize labour work force to carry out their services. However, with technology disruption, some manufacturing industries utilise AI and automation processes to ensure services are delivered efficiently. This would reduce the amount of human intervention and at the same time increase the overall process. Hence, it is important for the supply chain department to ensure sufficient technology is present to carry out the processes. The supply chain management department or team would have to effectively weigh all the pros and cons of the processes which is associated with the above.

Benefits of Supply Chain Management

The following are the benefits of having an effective supply chain management system:

• Smooth Operations

  By having efficient operations related to supply chain the overall efficiency of the organisation would improve. Such processes would increase the overall work performed by an organisation.

• Increase in Overall Performance

  The overall reputation and performance of the organisation would improve by following a proper supply chain framework. For example, more consumers would want to utilise processes and systems provided by the organisation.

• Framework

  An effective framework can be maintained by the organisation following certain national and international protocols. Through this a systematic framework can be established by the organisation.

• Compliance

  Usually there are specific quality standards related to supply chain frameworks in an organisation. By following such standards, the supply chain framework can be enforced throughout the organisation.

What services related to Supply Chain Management would be provided by TAP GLOBAL?

The following services relate to Supply Chain Management would be provided by TAP GLOBAL:

• Assessment

  Such assessment would analyse the supply chain strategies utilised by the organisation. Such strategies would ensure that the organization is growing at a rapid pace. Apart from this, our group of professionals at TAP GLOBAL, would also provide reformative services related to correct supply chain strategies.

• Strategies

  This would cover all forms of strategies utilized by the supply chain framework. We would also assess the strengths and weaknesses of a particular strategy and formulate a plan regarding the same.

• M & A related to Supply Chain

  Our M & A experts would help integrate and synchronize different matters related to supply chain at different levels of the organisation. We take active role in providing advice to both the buyers side and sellers side for supply chain merger and acquisition transactions.

• Supply Chain planning

  Behind every protocol lies a successive plan. Hence it is crucial and important to ensure that the supply chain strategy supports the growth of the organisation. For this, effective planning is required in the phase of supply chain development. An organisation before streamlining a supply chain protocol requires planning to ensure the system is streamlined.

• Sourcing and Logistics

  Based on the systematic plan provided to us, our team will ensure that the expectations meet the requirements of the organisation. This will also include the situation where an organisation is implementing the supply chain protocol.

• Profit Improvement

  Every organisation wants to ensure that effective services are provided at a low cost. Hence we will also ensure that this is achieved by developing effective supply chain protocols.

TAP GLOBAL Advantage- Supply Chain Management

• TAP GLOBAL main aim is to add value to your business.
• Our team of professionals comprising of Chartered Accountants, Company Secretaries, Lawyers, and Financial Executives.
• Constant monitoring and 24*7 customer service.

How to reach TAP GLOBAL for Supply Chain Management Services

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