What are the key functions of supply chain management?

Supply chain management encompasses several key functions that are crucial for the efficient coordination and optimization of the flow of goods and services. These functions include demand planning, procurement, production scheduling, inventory management, transportation, and customer service. By effectively managing these functions, organizations can ensure timely delivery, reduced costs, improved customer satisfaction, and enhanced overall performance. Demand planning involves forecasting customer demand and aligning it with production capabilities, while procurement focuses on selecting suppliers and negotiating contracts. Production scheduling involves planning and coordinating manufacturing activities, while inventory management aims to minimize stockouts and storage costs. Transportation ensures the smooth movement of goods from suppliers to customers, and customer service involves addressing any inquiries or concerns throughout the supply chain. By integrating these functions, supply chain management enables organizations to achieve greater efficiency and competitiveness in today's complex business environment.

This mind map was published on 28 August 2023 and has been viewed 67 times.