Retail Sector: Supply Chain Management and its Quantifiable Data to Gauge its Impact on Significant Parameters
Rishabh Chanana
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Abstract
Supply chain management is relatively new skill needed in operating an entity. As the name itself
relives the principles of that skill. Supply chain management(SCM) is by far very precise and
detailed function. SCM covers the planning and management of all activities involved in sourcing
and procurement, conversion and all logistics management activities. Importantly, it also includes
coordination and collaboration with channel partners, which can be suppliers, intermediaries, third
party service providers, and customers. In essence, SCM integrates supply and demand
management within and across companies.
Emphasize is on collaboration not on competition of every party included in supply chain.
Collaboration among partners will lead to their personal and mutual satisfaction obtained in costs
cuts and better profitability.
Keywords: Supply chain management(SCM); planning and management; logistics management activities