Friends, if you are going to set up a big business then it is very important to know about supply chain management. If you are a beginner and want to know about supply chain management in detail then you are at the right place. In this article, we are going to talk about supply chain management, its importance, and the process of supply chain management. You can also purchase supply chain management courses online at a great price. Firstly, let us talk about supply chain management.
Q. What Is Supply Chain Management?
Supply chain management is nothing but an essential process of delivering the raw material to the consumer. The things which we have to do in supply chain management are:
- Product planning.
- Demand Planning.
- Supply planning.
- Sales and operation planning.
- Supply management.
These are the important parts of supply chain management. It is a brief introduction of supply chain management. Now, let us talk about the process of supply chain management.
Everything About The Process Of Supply Chain Management:
- Demand Management:
Demand management is also divided into three parts -: demand planning, merchandise planning, and trade promotion planning.
A.) Demand Planning: In my opinion, it is the most important part of demand management. In this, we forecast demand so that we can deliver our products to our customers without any delay. If you do demand planning in an effective manner then you can easily improve your revenue forecasts and profit margins.
B.) Trade Promotion Planning: It is nothing but a psychological marketing strategy in which we attract the customers with the help of special pricing, display fixture, etc.
C.) Merchandise Planning: In this part, you have to decide the right price to buy and sell the merchandise in order to increase your returns on investment.
If you want to learn the complete supply chain management then you can purchase logistics and supply chain management courses online at discounted rates.
- Product Portfolio Management:
It is a practice of managing the entire product portfolio of your business. If you want to make a big company then you should have a good exit strategy for your product when it is not able to generate the profits for your company. If you want to do product portfolio management properly then you have to focus on many different things such as:
- New product introduction.
- Commercialization and ramp planning.
- Portfolio management.
- Brand, portfolio, and platform planning.
- Contribution margin analysis.
- End-of-life planning.
These all are the important things on which you have to focus if you want to do product portfolio management properly for your company. If you want to learn all of these in detail then you can purchase supply chain management courses online.
- Sales And Operational Planning:
If you want to be a master in supply chain management then you have to focus a lot on this point. It is an important process that you should do on a monthly basis, this will help you in empowering leadership so that you can easily focus on key supply chain drivers like marketing, demand management, inventory management, and the production of a new product. If you are not certified then you can get supply chain certification online at a great price.
