Ever heard about the term supply chain management? Maybe be maybe not, supply chain management refers to the range of activities that need planning, controlling, and executing a product’s flow from raw material to finish goods and until it is delivered to the customers. it is the very first thing a student can mention as the first thing in their supply chain management assignment writing help with books and notes.

Importance of Supply Chain Management

It is well known that supply chain management is the internal part of any business and essential for success. In order to reach customer satisfaction, a company needs to deliver the correct produced quantity on time.

Retailers depend on supply chain management to quickly deliver products and avoid any extra cost retailers need to pay for holding costly inventories in the store longer for more than a necessary time period. On the other hand, manufacturers use supply chain management to design a network to easily deliver the customer’s product. This way they save a big portion of money and time on the product delivery.

How Supply Chain Management Affect the Financial Position of a Business

Many businesses value supply chain management because they help in reducing overall costs they spend over storage and delivery of products. The reduction in overall cost automatically increases the profit of business making it more profitable to work with supply chain managers.

Supply chain management also helps to decrease the cost businesses spend on building warehouses around the country. With the help of a strong network established by supply chain management, it is easy to deliver products around the country. Now business doesn’t need to build more warehouses for effective delivery of products.

Role of Supply Chain Management in Society

During the time of the disaster, supply chain management comes forward with the promise to deliver basic necessities such as food and water. Just like that during a medical emergency, many people depend on supply chain management as their services could make the difference between life and death.

Apart from this supply chain management also help people to live comfortably during extreme climates. As people depend on them to deliver electrical energy such as refrigerators and air conditioners during summers and heat and light during winters

When the recession hit the economy in 2008 and 2009 the supply chain executives were under pressure to make chain management more efficient while reducing its overall cost. Meanwhile, they were also asked to apply some strategy to arose from economic conditions that were effective it at that moment. Students who are writing an assignment on the subject might need supply chain management assignment help offered by BookMyEssay to get a better understanding of the recession that hit the supply chain.

After the crisis, the next big challenge that came into the picture was the introduction of smartphones and new technologies that disrupted the industry by providing an exponential customer base. Supply chain management was forced to build e-commerce portals for tracking goods and services. All these changes disrupted supply chain management. For supply chain management, the market after these challenges was not the same.

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