What are the areas of supply chain management?

Question

What are the different areas of supply chain management?

Answer 1

Supply chain management involves several key areas that work together to ensure products or services are efficiently delivered to customers:

1. Procurement: Finding and buying the necessary materials or services.

2. Logistics: Managing transportation, warehousing, and distribution.

3. Inventory management: Controlling and optimizing inventory levels.

4. Demand forecasting: Predicting future customer demand.

5. Supplier relationship management: Building strong partnerships with suppliers.

6. Order fulfillment: Ensuring orders are processed and delivered on time.

7. Production planning: Coordinating manufacturing processes and capacity.

8. Supply chain strategy: Developing long-term plans and goals for the supply chain.

Check out the Supply Chain Management Course to learn more about the concepts of  logistics and supply chain management.