Such global acquisition of materials and distribution of products would not have been possible if very strong supply chain has not been incorporated. Kprulu and Albayrakoglu (2007) have defined supply chain management as the integrated process that facilitates the associated organizations to break all the barriers of resource procurement and obtain the best possible resources for the business. Acording to them, spply chain management also aids to distribute the organization’s products throughout their target customers. Sorey and Emberson (2006) has segregated the management of supply chain into three sections.
Te first concept deals with product flow that ensures movement of relevant resources from suppliers to manufacturers and from the manufacturers to retailers so that right consumer segment can obtain an access to the products and services at the right time. Te next concept involves incorporation of information flow that enables a business to obtain the most updated information regarding the changes in market segment, arival of new competitors, byers’ specification and utilization of technologies etc. a well as the information related to transformation of raw materials into and the delivery status of those goods from inventories to retailers and from retailers to consumers.
Te third concept of supply chain management i. fnance flow, asists the organizations in terms of proper execution of working capital management and managing the payment schedules from debtors and wholesalers. I fact, acording to the vision of Ali and Habib (2012) regarding supply chain management, te whole system is highly dependent upon efficient process planning and proper execution of the planned procedure in terms of tracking the status of resource procurement mterial inventory management as well as acquisition and application of obtained information and financial resources (Techtarget, 2015).
Rgarding supply chain management, Cyle, Lngley, Nvack and Gibson (2012) are of the opinion that the management system aids the organizations to control both upstream and downstream flow of operations. Mnaging upstream operations facilitates the organizations to administer the suppliers’ activities in time-bound and cost effective manner. Smilarly, te downstream activities of. ..
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