Supply Chain Management – Advantages

In this era of globalization where companies compete to provide the best quality products to the customers and satisfy all their demands, supply chain management plays a very important role. All the companies are highly dependent on effective supply chain process.

Let’s take a look at the major advantages of supply chain. The key benefits of supply chain management are as follows −

●      Develops better customer relationship and service.

●      Creates better delivery mechanisms for products and services in demand with minimum delay.

●      Improvises productivity and business functions.

●      Minimizes warehouse and transportation costs.

●      Minimizes direct and indirect costs.

●      Assists in achieving shipping of right products to the right place at the right time.

●      Enhances inventory management, supporting the successful execution of just-in-time stock models.

●      Assists companies in adapting to the challenges of globalization, economic upheaval, expanding consumer expectations, and related differences.

●      Assists companies in minimizing waste, driving out costs, and achieving efficiencies throughout the supply chain process.

These were some of the major advantages of supply chain management. After taking a quick glance at the concept and advantages on supply chain management, let us take a look at the main goals of this management.

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