What are the concepts of supply chain?
A supply chain is a network between a company and its suppliers to produce and distribute a specific product or service. The entities in the supply chain include producers, vendors, warehouses, transportation companies, distribution centers, and retailers.
What is the basic concept of supply chain management?
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 were the 4 basics of supply chain?
There are four major elements of supply chain management: integration, operations, purchasing and distribution.
What are the main concepts between supply chain and logistics?
Supply chain management is an overarching concept that links together multiple processes to achieve competitive advantage, while logistics refers to the movement, storage, and flow of goods, services and information within the overall supply chain.
What is KPI in supply chain?
Key performance indicators (KPIs) are a set of quantitative metrics that can help you gauge your business’ performance over time. Omnichannel supply chains help businesses sell products through all possible sales channels. …
What is supply chain in ERP?
Supply chain management (SCM) involves planning, execution, control, and monitoring of supply activities. An ERP solution takes care of physical aspects of supply that includes storage and transportation and the market aspect of effectively managing demand and supply to meet customer demands.
What is Riso in supply chain?
RISO is building a global supply chain and is thoroughly pursuing the essence of manufacturing amid all flows of business ranging from the procurement of materials to shipments. RISO also carries out simulations to ensure that overall production flows smoothly and also performs production line design.
What are the basic principles of Supply Chain Management?
Applying all Five Principles of Supply Chain Management is necessary for the effective design and execution of supply chain systems: Know the customer. Adopt Lean philosophies. Create a supply chain information infrastructure. Integrate business processes. Unify decision support systems. Know the customer.
What are the five basic supply chain activities?
Five general activities make up the primary activities of the value chain – inbound logistics, operations, outbound logistics, marketing and sales and services. The specific activities found in the five primary activities vary per industry. Inbound logistics consist of receiving and storing material goods for use and inventory control.
What are the steps in supply chain?
A supply chain involves a series of steps involved to get a product or service to the customer. The steps include moving and transforming raw materials into finished products, transporting those products, and distributing them to the end user.
What is a typical supply chain?
A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the human extraction of raw material, and includes several production links (e.g., component construction, assembly, and merging) before moving on to several layers of storage facilities of ever-decreasing size and increasingly