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The significance of supply chain management is rapidly increasing in a dynamic business environment. It is the backbone for companies involved in product manufacturing. It is the business process that can be understood by learning how goods move from a producer, distributor, retailer, to customers.
1. Sourcing & purchasing: Sourcing means searching, analyzing, and engaging top suppliers of goods and services. Purchasing or procurement is the purchasing of goods and services.
2. Planning: It is highly significant to plan everything in an advance such as determine the product demand, check the costing, manpower, and etc.
3. Source: Purchase high-quality material for the production of a premium quality product. It helps in creating a good reputation in the market.
4. Transportation and Warehousing: It is the most important and biggest task to transport and store the product. Use the best transportation mode and warehouse with a technology system.
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