Importance Of Supply Chain Management ( Scm ) - 3206 Words

The Importance of Supply Chain Management Term Research Paper Ryan Hibbs Dr. Stanton BUS 311 B 8 December 2014 Importance of Supply Chain Management The leading companies around the world utilize a new method of business coordination that gives them a competitive edge in the market. Supply chain management gives companies the power of that competitive edge. Supply chain management (SCM) is defined as including all the activities that must take place to the right product into the right consumer’s hands in the right quantity and at the right time. This can vary from raw material extraction to consumer purchase. SCM is able to process and coordinate information from the supply chain, creating a smooth network. It†¦show more content†¦A crucial component of the supply chain is to have correct and accurate information as long as an open line of communication in case assistance is needed. Another crucial role in a successful supply chain is the role of management. Management is able to help things run smoothly and assist in any problems that might occur. The advancement of t he business world has caused a change in how managers operate. Management can be in charge of overseeing a large number of suppliers and consumers at any given time. They are responsible for managing the supply chain and ensuring that the consumers get what they need. A firm’s good supply chain management is crucial to the success of the business and how they operate. A firm has to improve the flow of information through the chain, accurately depict business models, and efficiently manage the production, development, and delivering of goods. A successful supply chain is able to work seamlessly with other parts of the business such as sales and marketing, engineering, business development, and program management. A good supply chain management can be the difference for the success of all parts of the business. Change goes hand in hand with supply chain management. Supply chain mangers are always managing changes, predicting events, and at the forefront of change. Darry l Barr, Manhattan Associates’ senior director discusses his views of how supply chain management changes. â€Å"In my