Big Supply Chain Troubles in China
A worldwide economic recession, volatile energy prices and mistrust of Chinese products are conspiring to end China's reign as the low-cost supplier to the world.
A worldwide economic recession, volatile energy prices and mistrust of Chinese products are conspiring to end China's reign as the low-cost supplier to the world.
Supply chain management (SCM) is the combination of art and science that goes into improving the way your company finds the raw components it needs to make a product or service and deliver it to customers. The following are five basic components of SCM
1. Plan – This is the strategic portion of SCM. You need a strategy for managing all the resources that go toward meeting customer demand for your product or service. A big piece of planning is developing a set of metrics to monitor the supply chain so that it is efficient, costs less and delivers high quality and value to customers.
Mention the term supply chain management (SCM) and many people will start to think of manufacturing industries — the phrase may evoke visions of just-in-time inventory techniques or cost-efficient raw materials purchasing.
But Auckland Airport provides an example of how supply chain management systems can be just as relevant to service-based industries.