Advantages Of Supply Chain Management
Building a competitive advantage and supply chain management
Supply chain management is the process of controlling and close monitoring of the flow of raw materials work in process, capital and all the necessary things required to produce goods or services from the suppliers to sale of the good or service to the final consumer. The main objective of supply chain management is to ensure that the stock is maintained at the optimum level that is, there is no overstock that could led to spoiling of goods especially if they are perishable and at the same time the inventory should not be less to the extent the demand of customers is not meet. Competitive advantage Supply chain management is used in various organization as means of ensuring competitive advantage is the state where a company is in a position of possess a great market share over other organization that produce the same goods or services.
Principles of Supply chain management competitive advantage
Notably, one of the main principle is specializing in ones best competency and subcontracting those that are challenging. An organization is required to focus more on those activities that help them achieve the competitive advantage. The second principle is overseeing the work of the supply
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Since cost is a source of competitive advantage developing interest on what make up the cost will enable controlling of the cost. In addition organization should also focus on supply chain partners cost drivers as it affects them and the financial situation of an organization. For example suppliers cost drive could be transport expense, the organization can help in that by moving its warehouse closer to its supplier hence cost reduction on both supplier and the company, cost reduction in turn result to a great financial burden reduction on organization side . But also result to improvement in competitive
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