BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A supply chain is a network of individuals and companies who are involved in creating a product and delivering it to the consumer. Links on the chain begin with the producers of the raw materials and end when the van delivers the finished product to the end user.

Detailed explanation-2: -Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.

Detailed explanation-3: -Supply chain management (SCM) is the oversight of materials, information and finances as they move in a process from supplier to manufacturer to wholesaler to retailer and then to the consumer. The three main flows of the supply chain are the product flow, the information flow and the finances flow.

Detailed explanation-4: -In its simplest form, a supply chain is composed of a company and its suppliers and customers. Combinations of these three – supplier, company, customer – create a simple supply chain. Extended supply chains contain an additional kind of organization called a service provider (as illustrated below).

Detailed explanation-5: -The Importance of the Supply Chain in Customer Satisfaction Having an efficient supply chain means you can beat your competitors on retail price and improve your profitability. Having high performing operations also means you’ll be able to meet or exceed your customers’ expectations on delivery of their product.