Supply Chain is so Famous, But Why?

Supply Chain | Famous | 04th August 2022 | Virtual Wire

 

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Have you ever wondered how are the goods you consume every day are made available to you? If yes then here is the answer to your question: Supply Chain.


Supply Chain Management is defined as a procedure that controls the flow of the process from one end to another end. It is shown in such a way that the resources distributed among different levels are produced in an effective way and reach the end-user in a proper plan. In another words, it is a global network which is used to deliver products and services from materials raw materials material to selling to end customers.

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The importance of supply chain management includes momentum that streamlines uncertain risks. Integrated & cooperative logistics are considered the foundation of supply chain management, and interconnected supply chain deals with outsourcing, corporations, and global brand expansions.

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The organizations that make up the supply chain are linked together through physical flows and information flows. Physical Flows- It involves the transformation, movement and storage of goods and materials. They are the most visible place in the supply chain. Information Flows- It allows the various supply chain partners to coordinate their long-term plans, and control the day-to-day flow of goods and materials up and down the supply chain. So altogether the products flow from top to bottom of the supply chain while the funds flow from bottom to top, while information flow is in both directions. It is worthy to note that sometimes the product flow and funds flow to take place in the opposite direction.


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