What Are The 5 Basic Steps Of Supply Chain Management?

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2004
What Are The 5 Basic Steps Of Supply Chain Management?

Supply chain management includes daunting tasks with a wide range of factors influencing its growth and the overall efficiency. Professionals associated with this domain have developed ways of tacking this issue by dividing the overall process into five basic steps. They have developed ways of managing and evaluating the job before making the final submissions. Students passionate about a career in supply chain management explore supply chain management course to learn the latest techniques to ease the process taken as a whole. Well, anyway, this all leads me to the 5 basic steps of supply chain management:

  1. Plan: Planning is one of the basic things that must be done to streamline the processes of every other organization. Business organizations have to reorganize their priorities and decide whether they want to move into the production or just procure the requirement products from other suppliers. Even before that they have to segregate their target audience and check with their preferences for designing the policies. Deciding the number of products produced domestically or internationally is also their main concern. So the planning part is going to be the most important aspect of supply chain management.
  2. Source: After the planning stage, organizations have to think of their sources for procuring the supplies. This step involves the process of connecting with different suppliers and comparing their quotations and prices as per the requirements. After the finalization of source, they have to schedule the process in order to start the next process.
  3. Manufacturing: On boarding the suppliers and procuring the raw material is the stage where regulatory compliance comes into the picture. Organizations hire professionals to keep a check on the products being manufactured under the set guidelines and performance metrics. Data has to collected from diverse sources and transferred to the facilities under proper evaluative testing stages.
  4. Deliver: This stage encompasses a wide range of activities involving the process of processing, arranging transportations, and the care that needs to be taken while moving the product. Distribution process with all the customer centric services is taken care of in this process. Warehousing facilities are finalized with different companies to save and mange their budget. This stage also includes the process of providing the trial and the warranty period to the consumers so that they can finalize the process of accepting your products and reviewing them with positive remarks.
  5. Return: What if the products that you delivered were faulty or had some other issues, you have to come up with a strategy where you can replace or at least provide them some better options of repairing the product. They have to authorize the process of final shipment for those faulty products and ensure the timely process. Almost all the business organizations have their set of rules for product return and monitoring their performance.

So, if you want to develop a specialization in supply chain management, then you must start your journey by signing up for the supply chain management now!

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