Importance of IT And Supply Chain Management
Supply chain management software (SCM) is developed to streamline activities that revolve around movement and storage of raw materials, work-in-process inventory, and finished goods from the point of origin to the point of consumption. SCM is design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value and at the same time building a competitive infrastructure, leveraging worldwide logistics and synchronizing supply with demand and measuring performance globally.
Supply chain management has seen major changes among all the business operations in the last few years. In order to compete in the global market, streamlining the internal business operation is not enough and to have success companies need adopt supply chain management software. Today in global era most businesses are competing for acquiring higher market share and profitability, thus it is necessary to follow current best practices to keep pace with the world. Multinational corporations are struggling to acquire the top most position in market and become the market leaders. They are innovative and develop the most effective solutions for their day to day problems.
Supply Chain Management (SCM) is a well-recognized source of achieving the dream position and having an edge over the competition. IT and supply chain management go hand in hand when it comes to overall development of the companies. SCM is simply defined as an effort involved in production and delivery of the final product from the end supplier to the end customer. Hence, it comprises of whole set of activities that brings products to the market and satisfies the customers.
Earlier supply chain management was related to functions such as purchasing, manufacturing, and logistics. But with the transformation of supply chain management, it is considered as an integrated and cross-functional discipline. The basic function of SCM rests in adding value to the product delivered. Supply chain management software enables the companies to accomplish strategies like reduction of working capital, acceleration of cash conversion cycles and more.
Information Technology plays is significant part in effective control of the complex supply chain. Today with the growth of the IT sector the concepts of supply chain design and management has become a popular operations model. IT and Supply chain offers certain functions that only technology can provide. For managing resources, operations, logistics and customers, there is an immediate requirement of technology and thus IT and supply chain work hand in hand.
Supply chain management software (SCM) is developed to streamline activities that revolve around movement and storage of raw materials, work-in-process inventory, and finished goods from the point of origin to the point of consumption. SCM is design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value and at the same time building a competitive infrastructure, leveraging worldwide logistics and synchronizing supply with demand and measuring performance globally.
Supply chain management has seen major changes among all the business operations in the last few years. In order to compete in the global market, streamlining the internal business operation is not enough and to have success companies need adopt supply chain management software. Today in global era most businesses are competing for acquiring higher market share and profitability, thus it is necessary to follow current best practices to keep pace with the world. Multinational corporations are struggling to acquire the top most position in market and become the market leaders. They are innovative and develop the most effective solutions for their day to day problems.
Supply Chain Management (SCM) is a well-recognized source of achieving the dream position and having an edge over the competition. IT and supply chain management go hand in hand when it comes to overall development of the companies. SCM is simply defined as an effort involved in production and delivery of the final product from the end supplier to the end customer. Hence, it comprises of whole set of activities that brings products to the market and satisfies the customers.
Earlier supply chain management was related to functions such as purchasing, manufacturing, and logistics. But with the transformation of supply chain management, it is considered as an integrated and cross-functional discipline. The basic function of SCM rests in adding value to the product delivered. Supply chain management software enables the companies to accomplish strategies like reduction of working capital, acceleration of cash conversion cycles and more.
Information Technology plays is significant part in effective control of the complex supply chain. Today with the growth of the IT sector the concepts of supply chain design and management has become a popular operations model. IT and Supply chain offers certain functions that only technology can provide. For managing resources, operations, logistics and customers, there is an immediate requirement of technology and thus IT and supply chain work hand in hand.