What is the supply chain management industry?

1. 01 What is the supply chain management industry? Architecture Presentation Logistics and supply chain management in Oman

2. Defenation of What is the supply chain management industry? The supply chain management industry is an integral part of the modern economy. Without it, goods wouldn't reach their destinations when and where they were needed. In essence, the supply chain is a series of organizations that are responsible for delivering a product or service to consumers. It can be hard to wrap your head around a supply chain's complexity, which is why this article will explain what exactly the supply chain entails and how companies can use its extensive resources to their advantage.

3. The five principles of SCM are as follows 1) Visibility – visibility is a measure of how well managers know about the inventory and its progress. If a manager knows where all his products are and can quickly access that information, it will be easier for him to control inventory and make more informed decisions. 2) Flow – flow refers to how well products can move within the supply chain. This includes both physical movement and information flow. Managers must manage these factors in order for the end result (consumer delivery) to be as efficient as possible. 3) Flexibility – flexibility is a measure of how well a company can respond to change. When products must be delivered quickly, it is imperative that supply chains have the ability to accommodate sudden demand. 4) Information Sharing – information sharing refers not only to the flow of information, but also how it is shared between different levels within the chain. If managers make decisions based on bad data or incomplete information, the supply chain will suffer. 5) Partnering – partnering refers to the relationships that businesses form with other organizations within their chain. If they are not diligent in identifying and managing these partnerships, software glitches could result.