Objectives Of Supply Chain Management
Introduction:
Supply chain management:
Supply chain is basically the management of the services and goods from the manufacturer to the end user (consumer).
“OR”
Supply chain is the management of the finished goods from the point of manufacturing (i.e. the industry) to the point of the consumption (i.e. the retailers).
Main objectives of supply chain management:
1. Maintain or provide with the best services.
2. Minimum cost used.
Types of flow in supply chain management:
1. Material flow:
This is the flow of supply of the product from the supplier to the customer and the return of the product from the consumer to the suppliers (in case of warranty claims).
2. Information flow:
This is flow of the information within the organization and outside
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Financial flow:
This is flow of the financial statements such as invoices, purchase order etc.
Importance of supply chain management:
• Organized management.
• According to different researches, it proves that organizing considering supply chain management are more organized than the organization without supply chain management.
• Increase profit ratio, reduces risk factor.
• Managed inventory.
• Help to define the root cause of the company’s decline.
• As the most important factor in the profit of the organization is the customer satisfaction, so it helps in Timely worked, speed up the process to provide the final product to the customers by increasing the efficiency of the
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The role of ERP system with supply chain management on one page helps the business entity to increase efficiency of the business, to fulfill the orders timely, to increase the productivity, to decrease the risk factor.
• ERP plays an important role in interaction with different suppliers, It has different modules for different business activities, the main advantage is the integration of the organization data with all the level of departments, it is not an easy task for the huge organizations to take in notice to each of the information so it helps complex organization to simplify their work by accessing the required information anywhere at any time.
• ERP systems involve different modules of business organization involving inventory control packages, maintenance, financing, human resources department and much more which helps in being short from inventory, saves from poor quality of the product and long delivery times due to which customers may be disloyal from the
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