Supply Chain Management

What is supply chain management?

Supply chain management is an integrated methodological approach that heavily uses management approaches such as operations management and logistics management. It is inclusive of all activities of materials in the production of goods and services ranging from the storage of raw materials, processing them for production and supplying them to the customers.

Supply chain management is overseeing the flow of information, materials and finances within and across companies from the point of origin to the point of consumption.

Supply chain management is a cross-functional approach which organizes the entire business process through a chain of multiple companies who specializes in their concerned roles. These companies are business partners that focus on only a few key strategic activities.

The active management of supply chain activities maximizes the customer value and enables sustaining a competitive advantage over other companies.

How does supply chain management work?

It increases the number of organizations involved in the process of manufacturing goods and information providing.

It operates through interlinked channels and networks of business nodes which it uses to reduce the ownership of materials by distributing activities across various companies.

Companies outsource to other organizations the activities or processes they specializes in so they can be performed more efficiently and cost effectively.

What are the three types of flow in supply chain management?

Supply chain management is constituted of activities such as product development, sourcing, production, logistics and information system required to coordinate these activities. The organizations involved in supply chain are connected together through three kinds of flows which include flow of materials, information and finances.

Flow of materials and finances are physical flows which involve the transformation, movement, and storage of goods and materials and transaction of capitals. They are the most visible part of the supply chain.

Flow of information allows the various supply chain partners to coordinate their plans and control the flow of goods and material up and down the supply chain.

According to the Council of Supply Chain Management Professionals (CSCMP), “Supply Chain Management encompasses the planning and management of all activities involved in sourcing, procurement, conversion and logistics management. It also includes the crucial components of coordination and collaboration with channel partners, which can be suppliers, intermediaries, third party service providers, and customers.”

IBSAR Mumbai is a multi-disciplinary business school devoted to providing the top most education in the field of business.  As per the IBSAR Mumbai reviews, the business programs offered focus upon theoretical as well as practical knowledge to equip students with the required skills to compete in the world.

Prerequisites of Business Communication

 

      The aim of communication is to convey the desired message to an audience. A message which is         not conveyed successfully can result in serious damage especially in the business world. As per           the IBSAR Mumbai Reviews, keeping in mind some essential factors can result in the successful       delivery of the message, being received positively by the audience.

      We hereby provide you with a few of basic essentials of business communication:

1         .Structure

Structure is a necessary element for the successful communication for an un-structured or ill-structured message will not be understood in its entirety by the audience. You can systematically structure your message by diving it in three parts: Introduction, Main Body and Conclusion.

This can be used to structure any mode of communication including memos, presentation, speech, email, multi-media presentation.

2          .Clarity

Clarity in communication implies that the message you want to deliver should be clear both in your mind and in the process as well. Make sure that the communication is clear and delivered in a language common to everyone involved in the communication process.

3          . Adequate

The message you want to convey should be adequate, that is, it should be complete. An incomplete message or a message that is given in short bits and pieces will be considered as inadequate which could have adverse effects as it might risk the understanding of your audience.

4          .Consistency

The message should be consistent and in line with the previous messages and set objectives. Inconsistent, self-contradictory and conflicting messages can raise distrust in the audience. Therefore, if the aim of your message is to amend the previous one, than it should be stated clearly in the message itself.

5          .Medium

Choose the best available mode of communication for the successful transmission of your message. Select a mode which can be delivered in minimum time, offers greatest comprehension rate and costs low.

6          .Relevancy

The communication should be relevant to the organization, employees and their business. An irrelevant message or chunks of irrelevant information in a message would make the audience lose their interest.

     IBSAR Mumbai is one of the top business schools in India that offers specially designed courses      in MBA, BCA, and MCA taught by expert faculty members.

Attributes of a Healthy Organization

To be a successful organization, it is of utmost importance to be a healthy one first because only a healthy organization can grow into a successful one. As per the IBSAR Reviews, our team has prepared a list of characteristics most commonly seen in the healthy organizations.

1.     Good Leadership

For a healthy organization, healthy environment is most necessary element. Therefore, any organization needs good and effective leadership to maintain a healthy environment in the office premises. Managers who are open to suggestions and complaints gains the trust of their employees thus assuming the role of understanding leaders.

2.     Team Work

Sense of team work enables the employees to get familiarized to work together despite their differences of opinions. Healthy organizations understand the importance of team work therefore they work to develop teams that can collaborate to achieve the common goals.

3.     Employee Morale

Employees are the most important assets of an organization. Low morale in employees causes low productivity, poor coordination and hinders the growth of a company. While motivated and dedicated employees strengthen a company.

4.     Learning Opportunities

A static environment which provides no growth in terms of promotion or learning opportunities eventually makes their employees to look for those opportunities elsewhere. Many organizations now provide on the job training programs to enable their employees to cultivate their knowledge more efficiently.

5.     Employee Engagement

Unlike earlier times when companies used to follow strict hierarchical order in terms of decision making, now many companies have adopted more flexible approach. An organization where suggestions of employees are valued and considered, allows employees to become more engaged and accountable which eventually raises their productivity.

6.     Adapts to Changes

The constant development in technology and its influences on society demands for a more changeable or adaptable approach. Healthy organizations understand that to compete in the market, they need to stay in line or ahead of their competitors. Therefore, they adapt and incorporate new techniques and technologies.

7.     Result Oriented

Organizations are established with a set of goals. Healthy organizations understand that to attain those goals, it is essential that all the work and strategies designed to complete them are result oriented and all inessential activities must be eliminated.

IBSAR is a multi-disciplinary business school whose team of expert faculty members that provides the students necessary knowledge and skills to achieve success in their future endeavors in the form of various business programs.