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Supply chain Management (SCM)
Supply chain Management (SCM), a crucial corporate function, involves the planning, implementing, and controlling the flow of products, services, data, and money from the supplier to the manufacturer to the wholesaler to the retailer to the final customer. Assuring that goods or services are delivered to the appropriate location, at the appropriate time, and in the most economical way is the main objective of supply chain management. Supply chain management's main objective is to make sure that goods or services are supplied in the most efficient way possible, at the appropriate time and place.

Key components and activities of supply chain management include:

1. Planning: This entails formulating plans, establishing goals, and creating the supply chain's framework. In addition, demand forecasting is part of it, which aids in figuring out how much product has to be made or bought.

2. Sourcing: In this step, suppliers are found, agreements are negotiated, and purchases are made. It's critical to choose affordable and dependable suppliers.

3. Production or Manufacturing: This stage addresses the actual production procedure, quality assurance, and capacity planning in situations where things are made.

4. Inventory Management: Controlling inventory levels to maintain product availability while reducing unnecessary inventory costs.

5. Distribution: This entails the shipping, warehousing, and order fulfillment procedures, ensuring that goods are efficiently delivered to the intended recipients and customers.

6. Logistics: This includes deciding on the appropriate modes of transportation and routes as well as organizing and carrying out the physical movement of products.

7. Information Systems: Making use of software and technology to track and manage the supply chain, including order processing, inventory control, and data analysis.

8 Sustainability and ethics: The practices are becoming more and more important as supply chain management becomes more global. A crucial element is ensuring that supply chains are ethical from both an environmental and social perspective.

9. Demand Management: Predicting consumer demand accurately and modifying supply chain procedures to fulfill that need.

10. Risk Management: The process of recognizing and reducing potential risks in the supply chain, such as disruptions brought on by natural catastrophes, geopolitical problems, or changes in demand.

A competitive advantage in the market, cost savings, enhanced customer happiness, and increased flexibility are just a few advantages that can result from effective supply chain management. Additionally, it contributes significantly to waste reduction, sustainability advancement, and ensuring rules are followed.
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For over 12 years as an Entrepreneur, and India’s Top Educationist, Jatin has led a range of initiatives in the Education Industry. In this role, he has created many successful educational services and products geared towards generating success for professionals aspiring to join IVY League and global Top Tier Universities for MBA Programs, Masters Programs, and undergraduate courses. He is the Founder and CEO of PythaGURUS Education, and has been recognized as a thought leader in the Higher education sector. Economic Times, Hindustan Times, Times of India, India Today, Business Today, Tribune, and many other national newspapers have recognized his work, and have given him numerous opportunities to be a regular columnist. He has also served as a panelist for NDTV, and other national news channels.

Jatin Bhandari

Founder, and CEO, PythaGURUS Education

MBA, Darden Graduate School of Business, University of Virginia
How Nitant made it to the world’s #1 Executive MBA, INSEAD?

We have had many applicants ask us if too much work experience is a thing during MBA applications. to be completely honest with you, it is. With more work experience, your responsibility to prove the need for an MBA increases.

Nitant was facing the same problem with about 8 years of experience in a brand development role.
Jatin Bhandari has generated over 100 Crores( ~USD 15 Million) of Top MBA scholarships for professionals from very diverse backgrounds. In addition to the common applicant pool, he has even helped Doctors, Policemen, and Politicians gain admits to top B-Schools, and has covered all possible professions that qualify for a Top Global MBA….ALL OF THEM! These applicants have gone to Top Tier Universities in more than 10 countries.
You can also take benefit from him and ask for expert advice from him.