Please provide me an correct professional tional answer for this question. I’ll
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Please provide me an correct professional tional answer for this question. I’ll be much appreciated Thanks in advance QUESTION 3 (20 MARKS mun pressure to improve management of their supply chains. In aganisatives did itle to manage their supply chains Insiead, they tended to own egeratinns and their immediate suppliers foreover, the planni Sipply chain management is heing given incroasing attention as past, most on their and inventsary masnagement funsctions in organizations in supply chains have ndegendenty of eacsh other. This is exactly what is happening in the East Berhad operated acturing You have heom assigned to review the supply chain management and propase solutions based on the above scenaria Justify your answer appropriately. 20 Marks)Explanation / Answer
Answer-- Supply Chain Management is defined as the process of the design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally. For any industry, SCM is the most important factors which need to be taken care of either in the manufacturing or services sectors, it starts before production and ends after delivery. It helps to create a buyer and seller base all over the period span. The Most important are which directly depends on on SCM are
Production
Vendor Management
Customer management
Budget
Sales
After Sales
Buyer Customer Relationship
Goals of the Organisations etc.
A Good SCM can directly improve customer service. The right product and the correct quantity must be delivered in a timely manner, to appease both producers and distributors. Consumers also want a high standard of customer support. If goods are not distributed on time, supply chain management branches of a company have to assure them that they will get their products as soon as possible. It also has a huge impact on the bottom line of a company.Cash flow is directly increased because the delivery of a product is in a timely manner, and consumers can purchase their goods. Earlier there was lack of infrastructure facilities and even the technology was not up to Date so the SCM was less recognized the techniques of Marketing and other methods were also not so much scalable. But as the companies grew with modernization The SCM grew the cost of production of goods slowed down with better quantity and quality hence there was a stiff competition among the market here to face this off SCM works because it builds a relationship with the clients and customers and a bond of trust is maintained.
SCM has a huge impact on the financials and the profits of the company.SCM works with efficiency Management and other vital organizational goals. It streamlines everything from product flow to unexpected natural disasters. Logistics of a large company are managed completely by supply chain managers. With an effective SCM, organizations can diagnose problems and disruptions correctly. Many organizations lack in the risk management sector due to not being able to effectively deal with potential problems.
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