Principles And Strategic Elements Of Supply Chain Management

Objectives, principles and strategic elements of Supply Chain Management Supply Chain Management already exists for more than hundred years. It wasn’t defined as terminology for some period of time and it took years to develop it. It began with Fredrick Taylor’s â€Å"The Principles of Scientific Management† that was concentrated on improvement of manual loading processes all the way to Supply Chain Management we have now (Lamprecht, James; Page 180). Because Supply Chain Management spreading beyond location of production, everyone have different view on it. Many view Supply Chain Management from operational point of view where SCM is flow of materials. Others view SCM as an operational process. And others consider it as implementation of previously listed operational process in organization (Kotzab, Seuring, Muller and Reiner; Page 398). Here are some popular definitions of Supply Chain Management: According to one author Supply Chain Management is a set of approaches that helps to effectively integrate suppliers, manufacturers, distributors and retailers. SCM ensures availability of the right product at the right time in the right place at minimum cost and taking into account the service requirements of customers (Mandavi, Iraj; Page 26). According to APICS Supply Chain Management is the process of organizational planning, execution and control flows of raw materials, work in process, finished goods, as well as ensuring efficient and fast service receiving of timelyShow MoreRelatedExamine the Strategic Importance of Supply Chain Management to a Manufacturing Firm. 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