Supply Chain Management
Definition
A supply chain consists of all parties involved, directly or indirectly, in fulfilling a customer request. The supply chain includes not only the manufacturer and suppliers, but also transporters, warehouses, retailers, and even customers themselves.
Supply Chain Management
A supply chain is comprised of all the businesses and individual contributors involved in creating a product, from raw materials to finished merchandise. Examples of supply chain activities include farming, refining, design, manufacturing, packaging, and transportation.
The Parties of the supply chain
The parties in the supply chain are given below;
Customer: Suppliers are the first stage of supply chain. Generally, suppliers are responsible for purchasing and procurement operations in supply chain. Raw materials or natural resources are purchased by suppliers for which a company’s needs to procure goods or services that are required to manufacture a product.
Retailer: Retailers is informed what products they are buying. The goal is to ensure order entry quickly and well communicated among all other processes.
Manufacturer: Manufacturing facilities make the product according to order placed by customer. In order to do this they need to do necessary interaction with other members of the Supply chain cycle.
Distributor: There are some distribution channels which enhance the supply chain network as a whole to reach the product to the customer.
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