Question

-can you explain to me what is supply chain management in the detail?
-discussion 3 things about the role/impact supply chains have on business and /or the economy。
Thanks！

Answer 1

Answer) A supply chain management is a network that is used to deliver products and services from raw materials to end Customers through an engineered flow of information , distribution channel and cash. Supply chain has generally basic three elements which is supplier, producer and customer. The raw material is supplied to the producer by supplier and then the end goods are supplied to the consumers by the producers . There is distribution of goods , flow of information from supplier to customers and vice versa and flow of cash from the customer to all the variables involved. Hence managing this elements is basically supply chain management . Supply chain management can have various strategies such as stable which means in this supply chai , little information and the only motive it to deliver goods with simple distribution points or reactive where continuous flow of information is needed such as sports t-shirt where the winning time t-shirt demand increases whereas loosing team demand decreases. Hence , supply chain management is a very broad aspect which includes Management of logistics, production, distribution etc.

Three things about the impact supply chains have on business -

1-) Business can only survive with efficient supply chain. If the raw materials or components coming in is late or not organised , the production will not happen on time and therefore the sales will not happen on time which will mean that the business will fail to survive.

2-) It increases profitablility - efficient supply chain means that all the orders are timely made to the supplier and they are timely delivered and the billing of the material also is correct. The raw materials then are made into final goods and transported to customers through supply chain. Hence , the profit of the company increases with organised sales as money timely comes into the Organisation.

3-) supply chain provides relevant information about the trades happening . Supply chain managers are aware about the feedback of the customers and hence they know what are their advantages and disadvantages ,which helps them give a Competetive edge.

It took some research to answer the questions If you can help me with a upvote I would really appreciate it

Thank you.