Supply chain management
average company spends nearly half of every dollar that it earns on production
has three main links :-
1. material flows from suppliers and their 'upstream' suppliers at all levels
2. transformation of material info semifinished and finished products through organization's own production process.
3. distribution of products to customers & their downstream customers at all levels.
Supply chain visibility
ability to view all areas up & down the supply chain
Bullwhip effect
occurs when distorted product demand info passes from on entity to the next throughout the supply chain.
Demand planning software
generates demand forecasts using statistical tools and forecasting needs.
Supply chain planning (SCP) software
uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain.
Supply chain execution
automates the different steps and stages of supply chain
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