Supply Chain Management
Small and medium-sized enterprise (SME) owners need to understand that they have an untapped Gold mine right in front of their eyes. It’s their supply chain management system.
An efficient supply chain is one of the most underrated and misunderstood aspects of business management. Your supply chain, which can be quaint & local or multi-organizational & global, controls the flow of products & information and therefore the flow of capital.
Supply chain concept: It is the whole system of the relationships and connections that drive the movement of products between suppliers, producers, wholesalers, distributors, retailers and finally customers.
It’s an old saying, but its time: a chain is only as strong as its weakest link. Supply chains are no different. Every component must be considered as vital as every other component.
The responsibilities of your partners and suppliers are of the utmost importance. If one component lapses, the entire chain lapses and the customers immediately feel its effects.
Supply chains are not of the set-it-and-forget-it variety. They need constant maintenance and comprehensive care. Constant maintenance of comprehensive care and up-gradation.
