"Supply chain management (SCM) deals with a system of procurement, operations management, logistics, and marketing channels..."
The evaluation of the efficiency and effectiveness of supply chain operations through the use of metrics and other performance indicators.
Key performance indicators (KPIs): Metrics used to measure the performance of various supply chain processes and activities, such as inventory turnover, on-time delivery, and order accuracy.
Performance benchmarking: The comparison of supply chain performance against industry standards or the performance of other companies in the same industry.
Data analysis: The use of quantitative methods to analyze performance data and identify trends, patterns, and opportunities for improvement.
Operational excellence: The adoption of proven best practices to optimize supply chain processes, reduce waste, and increase efficiency.
Lean principles: A philosophy and methodology that emphasizes the elimination of waste and the continuous improvement of processes.
Six Sigma: A disciplined, data-driven approach to improve and optimize processes by reducing defects.
Total quality management (TQM): A management approach that prioritizes the delivery of high-quality products and services to customers.
Supply chain visibility: The ability to track and monitor supply chain activities in real-time, providing insights into performance, risks, and opportunities for improvement.
Inventory management: The strategies and processes used to manage and optimize inventory levels, ensuring that the right products are available at the right time and in the right quantities.
Logistics management: The planning, execution, and control of the movement of goods and materials throughout the supply chain.
Supplier performance management: The monitoring and evaluation of supplier performance to ensure that they meet quality, delivery, and cost expectations.
Cost analysis: The assessment of the costs associated with various supply chain activities, such as transportation, inventory, and warehousing.
Capacity planning: The process of forecasting future demand and ensuring that the supply chain has the necessary resources to meet that demand.
Risk management: The identification and mitigation of potential risks that could impact the performance of the supply chain.
Sustainability: The consideration of environmental, social, and economic factors in supply chain management, including the reduction of waste and greenhouse gas emissions, and the promotion of ethical labor practices.
Cycle time: This is the time taken to complete a process or operation in the supply chain. It is used to measure the efficiency of the supply chain.
Inventory turnover: Inventory turnover is a measure of how quickly a company liquidates its inventory within a given period. It is calculated by dividing the cost of goods sold by the average inventory value.
Order lead time: This is the time taken to fulfill a customer's order from the time of receipt to delivery. It is used to assess the effectiveness of supply chain processes in meeting customer demands.
Perfect order measurement: This measures the percentage of orders that are delivered on time, in full, and without any errors or damages. It helps in evaluating the effectiveness of the overall supply chain process.
Supply chain responsiveness: This measures the ability of the supply chain to respond to changes in demand or supply. It helps in assessing the agility and flexibility of the supply chain.
Delivery performance: This measures the accuracy of delivery schedules, and it helps to identify tardiness or early delivery.
Customer satisfaction: This measures the level of satisfaction customers have with the products or services provided by the company. It helps to identify customer-related issues that may affect the supply chain.
Cost of goods sold: This measures how much it costs to produce and sell a product. It helps to evaluate the efficiency of supply chain processes that affect the cost of goods sold.
Return on Investment: ROI measures the amount of profit generated from the amount of capital invested. It helps to assess the efficiency of the supply chain in producing revenue.
Capacity Utilization: Capacity utilization measures how much of an organization's resources are being utilized to produce goods or services. It helps in identifying underutilized or overutilized resources in the supply chain.
"... procurement, operations management, logistics, and marketing channels."
"The objective of supply chain management is to create net value, build a competitive infrastructure, leverage worldwide logistics, synchronize supply with demand, and measure performance globally."
"Supply chain management encompasses the integrated planning and execution of processes required to optimize the flow of materials, information, and capital."
"Marketing channels play an important role in supply-chain management."
"Current research in supply-chain management is concerned with topics related to sustainability, volatility, and risk management, among others."
"An important concept discussed in SCM is supply chain resilience."
"The 'people dimension' of SCM, ethical issues, internal integration, transparency/visibility, and human capital/talent management are topics that have, so far, been underrepresented on the research agenda."
"Supply chain management is focused on a more traditional management and business-based approach, whereas supply chain engineering is focused on a mathematical model-based one."
"Supply chain management ensures that raw materials can be converted into a finished product and delivered to the end customer."
"Interconnected, interrelated or interlinked networks, channels, and node businesses combine in the provision of products and services required by end customers in a supply chain."
"SCM encompasses the integrated planning and execution of processes required to optimize the flow of materials, information, and capital in functions that broadly include demand planning, sourcing, production, inventory management, and logistics."
"Supply chain management includes the movement and storage of raw materials, work-in-process inventory, finished goods, and end-to-end order fulfillment from the point of origin to the point of consumption."
"SCM is the broad range of activities required to plan, control, and execute a product's flow from materials to production to distribution in the most economical way possible."
"SCM focuses on ensuring the production of high-quality products at high speed with good flexibility and low production cost."
"The design, planning, execution, control, and monitoring of supply chain activities are important elements of SCM."
"The objective of supply chain management is to build a competitive infrastructure, leverage worldwide logistics, and synchronize supply with demand."
"Supply chain management strives for an integrated, multidisciplinary, multimethod approach."
"The objective of supply chain management is to create net value."
"The objective of supply chain management is to measure performance globally."