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5 COMPONENTS OF SUPPLY CHAIN MANAGEMENT

A supply chain manager should work to develop and implement supply chains from product development and production to delivery and potential returns in the most productive and cost-effective manner possible. Supply chain management works to link the production, shipment, and distribution of a product to help cut down on excess costs and to deliver products to consumers faster.

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This is achieved by maintaining control of internal inventories, internal production, distribution, sales, and the inventories of vendors.

5 COMPONENTS OF SUPPLY CHAIN MANAGEMENT

The 5 components of supply chain management include:

1. Planning

Companies must properly plan and manage all resources to ensure that customer demand for their products or services are being met. This can be achieved through careful planning to determine which technology should be used, ensuring that the supply chain remains efficient and effective.

2. Sourcing

Every business needs to select a supplier or multiple suppliers to provide the goods and services needed to create their products. After selecting suppliers, the supply chain manager will then need to monitor and manage supplier relationships. This includes ordering, receiving, managing inventory, and authorizing supplier payments.

3. Producing

Supply chain managers must coordinate the activities required to order raw materials, accept them, manufacture them into finished products, test products for quality, package products for shipping, and schedule each shipment for delivery.

4. Delivering

Logistics and supply chain management are closely interlinked. Coordinating orders, picking, packing, scheduling deliveries, invoicing, dispatching, notifying relevant parties, and receiving payments are all crucial parts of the delivery process. Even with third-party courier systems in place, every single exchange along the way must be carefully monitored to ensure there are no errors as a single mistake can cause a significant delay.

5. Returning

As part of supply chain management, businesses must develop a process that makes returning products easier and faster. This includes a process for accepting customer returns and determining if the product should be reproduced, repaired, scrapped, or returned to the shelf.

To learn more about our international freight shipping solutions and supply chain management, or to discuss the details of your shipment, get in touch with the team at C&D Logistics. We can be reached through our online contact form and will be happy to answer any questions you may have regarding our services.

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[supplychainreport]

The Supply Chain Report

The Supply Chain Report is an online news portal that offers detailed coverage and analysis on various aspects of supply chain management, aimed at professionals and enthusiasts alike. It focuses on global trade, logistics, warehousing, and transportation, providing readers with the knowledge and insights needed to navigate the complexities of the industry. The portal stands out for its experienced team, comprehensive and unbiased reporting, and its dedication to fostering a community around supply chain discussions.

Contact Us. Phone: +442045861690 Address: 71-75, Shelton Street, Covent Garden, London. WC2H9JQ United Kingdom.

Website: https://www.supplychainreport.org