Production & Operation Management Full Series - No.21 ~ Supply Chain Management | Meaning | Importance | Components | Process | Advantages |

✅ Production & Operation Management Full Series ✅ https://www.youtube.com/playlist?list=PLPf7aahSRKFVJixTVuDVcpl4mxRe1IInJ ========================== 📕 Purchase Production & Operation Management PDF Book 📕 https://imojo.in/1TxEGJJ ========================== 📌 Supply Chain Management 00:00 Starting 00:25 Purchase PDF BOOK of Production & Operation Management 00:52 Meaning of Supply Chain Management 05:26 Importance of Supply Chain Management 08:56 Components of Supply Chain Management 10:24 Participants of Supply Chain Management 15:41 Process of Supply Chain Management 21:55 Activities of Supply Chain Management 27:38 Advantages of Supply Chain Management 36:30 Disadvantages of Supply Chain Management 👉 Meaning of Supply Chain Management Managing the flow of goods and services from vendors to customers, along with accompanying money and information, is known as supply chain management. This involves planning, organizing, and controlling the process, which may include tracking inventory levels, anticipating demand, identifying specific goods, and determining delivery timelines. 👉 Importance of Supply Chain Management 1.) Focus on the customer 2.) Multiple Flows 3.) Multiple activities 4.) Multiple Participants 5.) Coordination of participants 👉 Components of Supply Chain Management It includes:- a.) Participants (supplier, manufacturer, wholesalers, retailers) b.) Processes (steps taken for the functioning of the whole supply chain system) c.) Activities (It includes all the actions to ensure the smooth flow of material, information and money) 👉Participants of Supply Chain Management 1.) Supplier 2.) Manufacturer 3.) Distributors 4.) Wholesalers 5.) Retailers 6.) Customers 👉 Process of Supply Chain Management 1.) Planning 2.) Source 3.) Production 4.) Location 5.) Transportation 6.) Return of goods 👉 Activities of Supply Chain Management 1.) Demand Forecasting 2.) Purchase/ Material Handling 3.) Inventory Management 4.) Logistic Management 5.) Packaging 6.) Returns Management 👉Advantages of Supply Chain Management 1.) Minimize Delay 2.) Shorter lead time 3.) Less investment in inventory 4.) Increase Customer Satisfaction 5.) Better communication of participants 👉 Disadvantages of Supply Chain Management 1.) Faulty Prediction 2.) Complex activities 3.) Increased chances of error 4.) Dependence on outside consultants 5.) Require heavy investment #supplychain #supplychainmanagement #supplychainplanning #productionmanagement importance of Supply Chain Management Components of Supply Chain Management Advantages of Supply Chain Management Pros and cons of Supply Chain Management Explain the process of Supply Chain Management