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Meeting Customer Demand
Has a sudden increase in demand for products or services ever left your organization unable to meet customer orders? Most companies experience this problem now and then. However, there are ways to prevent it.
Effective supply chain management helps companies to efficiently meet customer demand.
Supply chain management is an essential component of an overall operations management strategy. It includes areas such as procurement, production operations, and logistics.
Originally considered a manufacturing concept, the principles of supply chain management have increasingly been applied to service organizations.
Components of Supply Chain Management
A typical supply chain in an organization comprises five major components: the suppliers, factory, warehouse, store, and consumer.
Suppliers
Suppliers are the starting point in a typical supply chain. They're responsible for providing the materials and services needed by organizations to start and continue production to meet customer demand.
Factory
A factory is a facility where the raw materials sent from the suppliers are converted into products. Factories rely on their suppliers to provide them with all the required materials in a timely manner.
Warehouse
A warehouse is the storage area for final products after they've been made in the factory. Products will remain here until they have to be transported to various store locations. Distribution centers are an alternative to warehouses. Because of limitations of space and cost, certain supply chains may rely on distribution centers to hold their products instead of warehouses.
Store
A store is the retail location where products are available for purchase by consumers. Transportation costs to get products into stores can have an effect on the price of products. Therefore, companies should carefully consider which stores will carry their products.
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