Vol: 6, Issue: 4 2016

Page: 60-68

Retail Sector: Supply Chain Management and its Quantifiable Data to Gauge its Impact on Significant Parameters

Rishabh Chanana

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.