Role Of Supply Chain Management In Retail
Introduction
Supply chain Management
Let us initially understand what is supply chain management, it can be defined as ‘ the integrated network of all the people, organizations, resources, activities and technology involved to create and sell the product, from the delivery of raw materials from the supplier to the manufacturer, through to its final delivery to the end user’. It oversees flow of goods, information, labor and finance across the entire network.
Time taken from start point to end point of the value chain is called the Lead time. Lead time plays a very crucial role in entire supply chain planning. In short, Lead time means how quick are you able to deliver your products to the end customer. This lead time varies across the industries.
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It is an integrated process where all the activities are interconnected with the system for information throughout the value
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