Question: What Are The Four 4 Stages Of Supply Chains?

What is the difference between procurement and supply chain?

Procurement is the process of getting the goods your company requires, while supply chain management is the extensive infrastructure needed to get you those goods.

Supply chain management should ultimately be considered one of many responsibilities faced by a procurement function..

What are the pillars of procurement?

The 5 Pillars of Procurement and Supply Chain ManagementValue for Money. In short this means that it is not necessarily the tender with the lowest price that is going to win the bid. … Open and Effective Competition. Government departments must take care that everybody has a reasonable chance to compete for tenders. … Ethics and Fair Dealing. … Accountability and Reporting. … Equity.

What are the features of supply chain management?

8 essential features of an effective supply chain management solutionAbility to integrate throughout the supply chain. … Real-time and collaboration capabilities. … Process optimization abilities. … Analytics and forecasting. … Customization. … Cloud-based access and mobility. … Security. … Scalability.

What are the three main functional areas of the supply chain?

While supply chain is a very broad career field, it has 7 primary functional areas: Purchasing, Manufacturing, Inventory Management, Demand Planning, Warehousing, Transportation, and Customer Service.

What is supply chain diagram?

A supply chain is a network of retailers, distributors, transporters, storage facilities, and suppliers who take part in the production, delivery, and sale of a product that convert and move the goods from raw materials to end users, it describes the processes and organisations involved in converting and conveying the …

What are the major types of SCM software?

Types of supply chain management software and SCM software vendorsProduct Development.Sales & Operations Planning.Procurement.Production.Logistics.Warehouse Management.

What are the four pillars of supply chain management?

Understanding the Four Pillars of Supply Chain TechnologyData visibility. Supply chain tools are a window into what is happening in the business: What do customers want, how much and when? … Data “slice- and dice-ability.” Detailed data of supply chain operations can be overwhelming. … Focus on the right problem area. … Alignment with organization and process.

What are the steps of supply chain?

The Key Steps in a Supply ChainOriginal sourcing or extraction of raw materials.Refining or manufacturing materials into basic parts.Assembling basic parts into finished products.Selling finished products to end users.Delivering finished products to end users or consumers.

What is a supply chain example?

A supply chain is comprised of all the businesses and individual contributors involved in creating a product, from raw materials to finished merchandise. … Examples of supply chain activities include farming, refining, design, manufacturing, packaging, and transportation.

What are the 5 basic components of supply chain management?

The Top-level of this model has five different processes which are also known as components of Supply Chain Management – Plan, Source, Make, Deliver and Return. Let’s deep dive into each component: Plan: Planning is imperative to control inventory and manufacturing processes.

What are the four primary drivers of supply chain management?

Facilities, inventory, transportation and information are the four major drivers of the supply chain.

What are the goals of supply chain?

The basic purpose of the supply chain is to fulfil demand, drive customer value, improve responsiveness, facilitate financial success and build a good network.

What are the flows in supply chain?

There are three main flows of supply chain management: the product flow, the information flow, and the finances flow. The Product Flow – The product flow involves the movement of goods from a supplier to a customer. This supply chain management flow also concerns customer returns and service needs.

What are the four types of supply chains?

Efficiency supply chain models include, the efficient chain model, the fast chain model and the continuous flow model.

What is the difference between logistics and supply chain?

The basic difference between Logistics and Supply Chain Management is that Logistics management is the process of integration and maintenance (flow and storage) of goods in an organization whereas Supply Chain Management is the coordination and management (movement) of supply chains of an organization.

What is the most important aspect of supply chain management?

Production is one among the most important aspects of this system. It is only possible when all the other components of the supply chain are in tandem with each other. For the process of production to start it is essential that proper planning and supply of goods, as well as the inventory, are well maintained.

What is SCM process?

Supply chain management is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace.

What is supply chain in simple words?

A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. … The supply chain also represents the steps it takes to get the product or service from its original state to the customer.