Supply chain management can be daunting even to the most experienced business person in the world. However, the process can be understood by breaking it down into strategic stages. The five main stages are; plan, source, make, deliver, and return.
These stages together form the supply chain operations reference (SCOR) model which was designed to enable managers address, improve and communicate supply chain management practices effectively.
A successful supply chain management system also involves managing your business processes such as inventory using a cloud-based management software such as NetSuite (you can calculate your NetSuite estimate at Techfino.)…
Advances in technology have impacted all industries, from how consumers interact with them to how they communicate with stakeholders. But how has technology affected the supply chain of retail brands?
Technology has clearly changed how businesses make supply chains more efficient, but what exactly has changed and how will retail and technology merge further in the future?
The evolving demands of retail consumers
For some retail business owners and managers, demanding consumers are an issue. Many consumers expect convenience from all angles now that they know it’s possible.…
Getting your MBA is the first step toward a multitude of new career opportunities, perhaps some that you hadn’t even considered before. Supply Chain Management (SCM) is one such opportunity.
Described simply, SCM involves improving efficiencies and coordinating production, inventory, location and transportation among the participants in a supply chain, but there is a lot more to this rapidly growing sector.
Based on a new MHI report, the logistics/supply chain business will be looking to fill 1.4 million jobs, or roughly 270,000 jobs per year through 2018.…