What is a Supply Chain Management? In simple terms
Supply means moving of Material from one destination to another. Chain means
one person get the material he may change or modify that material and might
give different shape and changes to finish to usable good and move to another
person. Management is done by officers or people who arrange to move that
material to end user.
We will
discuss more about supply. It is a material, goods, products or resources and
services that are provided to consumers in the market for consumption or use.
Supplying of raw material to finish good.
Chain means material or product or service moved
from Manufacture to seller, from seller to commission agents and then to end
user of that products.
Services are if one purchase
product to maintain it serving on regular bases eg you if install camera at
home or any place. There might be errors occur while using system or supply of
instrument not working properly. Another example, Lift require regular
servicing, it should be greased regularly so that it does not get rust.
Management officers who take care of maintaining or sending
material to different location which require high knowledge of legal and
consultation information is managed by people who are working on daily
activity.
Supply Chain Management is
divided into different domains.Product Planning, Order Management, Procure to
pay, Invoicing, Finance in short FICO. Material Master, Vendor Master, PR to
PO, Good Receipt, Return Request, Quotation, RFQ, Sourcing.
What order Management does. They receive the order from customer, list the material what is requirement check the status of material if it is available in their inventory or warehouse. Arrange for shipment, create delivery ticket that delivery ticket is moved Finance team to arrange payment by requestor or Buyer.
