The real-time supply chain will immediately detect changes in demand, supply, and business conditions. Advanced analytics will drive real-time decision-making. Collaboration tools will promote interaction with partners and vendors, synchronizing activities across the supply chain. The resulting supply chain exhibits greater flexibility, better responsiveness, higher delivery service levels, and the ability to respond to changing business conditions while reducing inventory, risk, and cost.
- Demand-Driven Business Planning
- Logistics and Order fulfillment
Supply chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption. Supply-chain management has been defined as 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. SCM practice draws heavily from the areas of industrial engineering, systems engineering, operations management, logistics, procurement, information technology, and marketing [6] and strives for an integrated approach.
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