Business organizations are waking up to the importance of designing an effective supply chain management to keep pace with the globalized market. A Supply Chain Management is about planning and managing all activities involved in sourcing and conversions. It is a strategic concept that involves understanding the series of activities, from the supplier to the ultimate consumer. Supply Chain Management serves functions that include production and procurement of materials, transportation of these materials and finally the distribution to the consumers. Coordination and collaboration at every stage has to be immaculate. A well designed Supply Chain Management should be able to tackle challenges that arise in any particular link. Here are some key challenges that are faced in Supply Chain Management:
Infrastructure: As the basic foundation for any business venture to succeed is the best infrastructure, supply chain is no different. Unfortunately, this is the biggest challenge faced by most sectors and organizations. It is an acknowledged fact that much more can be accomplished with better infrastructure.
Technology: The development in the field of technology is faster than ever and the best way to boost Supply Chain Management is to update technology to keep pace with the changing times.
Communication: This is a major issue face by a number of organizations. Monitoring the follow of communication from both ends is critical.
Consistency: After achieving the desired result in supply chain, it is necessary to maintain that level. This is taken for granted and results in the effectiveness of the chain being compromised. In addition, these are some points to take careful note of:
- Be prepared: The Supply Chain Management should be effective enough to be able to deal with problems on-the-spot.
- People: A good supply chain requires a good team.
- Supplier: Never underestimate the capabilities of the supplier.
Supply chain management is vital in sectors like service, agriculture and manufacturing organizations. But the level of complexity involved is not standard for any business. However, it is an acknowledged fact that organizations having the best supply chain management win the race! Play the Chain Brain Challenge to win exciting prices based on Supply Chain Management
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