What Makes A Good Supply Chain?

What are the five most important factors of supply chain management?

Inventory-heavy businesses must consider the the cost and implications of these supply chain optimization strategies….Important Supply Chain Metrics.

Inventory and Electronic Data Capture Percentage.

High-Dollar Products and Procedural Costs.

Industry Standards.

Human Supply Chains..

What are the 3 foundations of supply chain?

Our three pillars (or fundamentals) of great supply chain management excellence are strategy, service, and cost.

What are the stages of supply chain?

The 5 essential stages in developing a successful supply chainStage 1: Plan. Planning involves a wide range of activities. … Stage 2: Source. This aspect of supply chain management involves organizing the procurement of raw materials and components. … Stage 3: Make. … Stage 4: Deliver. … Stage 5: Return.

What are the 5 basic steps of supply chain management?

The Top-level of this model has five different processes which are also known as components of Supply Chain Management – Plan, Source, Make, Deliver and Return. Let’s deep dive into each component: Plan: Planning is imperative to control inventory and manufacturing processes.

What are the most important activities of supply chain management?

Production operations, including the consumption of materials and flow of finished goods. Outbound operations, including all fulfillment activities and transportation to customers. Order promising, accounting for all constraints in the supply chain, including all suppliers, manufacturing facilities.

What are the 4 attributes of supply chain?

There are four major elements of supply chain management: integration, operations, purchasing and distribution.

What is supply chain diagram?

A supply chain is a network of retailers, distributors, transporters, storage facilities, and suppliers who take part in the production, delivery, and sale of a product that convert and move the goods from raw materials to end users, it describes the processes and organisations involved in converting and conveying the …

What is a supply chain example?

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.

What skills are needed for supply chain management?

Solid skills required in future supply chain managers include:Project management.Technical understanding.Cost accounting skills.Ability to understand financial statements.Understanding of e-business / e-procurement systems.Troubleshooting, problem solving.Understanding of cross-cultural / global issues.Business ethics.

What are the key elements of supply chain?

The Eight Components of Supply Chain ManagementPlanning. This is one of the most important stages. … Information. The world today is dominated by a continuous flow of information. … Source. Suppliers play a very crucial role in supply chain management systems. … Inventory. … Production. … Location. … Transportation. … Return of goods.