Quick Answer: What Are The 5 Basic Components Of A Supply Chain Management SCM System?

What are the processes of logistics?

It is “the process of planning, implementing, and controlling the efficient, cost-effective flow of raw materials, in-process inventory, finished goods and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal..

What are the five major components of logistics?

The five elements of logisticsStorage, warehousing and materials handling.Packaging and unitisation.Inventory.Transport.Information and control.

What are the 5 R’s of purchasing?

Delivered in the right “Quantity”. To the right “Place”. At the right “Time”. For the right “Price”.

What are the stages of supply chain?

There are four stages to the evolution of such a supply chain network:Stage 1: Supply Management. The most basic stage, built around an internal MRP system that is lead-time driven. … Stage 2: Supply Chain Management. … Stage 3: Supply Chain Integration. … Stage 4: Demand-Supply Network Collaboration.

What are the two types of supply chains?

The 2 Types of Supply ChainsReactive Supply Chain StrategyData-Driven Supply Chain StrategyOperational improvements based on guesswork or imitating competitorsA data-driven approach helps even best-in-class manufacturing operations find new ways to improve efficiency[iii]5 more rows

What is Nike’s supply chain?

Nike’s supply chain functions around three core organizational principles: outsourcing, to save costs; diversification, to minimize risk; and corporate social responsibility, to manage its impact on the world it works in.

What are the three types of logistics?

These are inbound logistics, outbound logistics, and reverse logistics. The information about these three supply chain directions is essential to know, especially to people inclined in the logistics industry.

What are the five pillars of supply chain management?

The five pillars of supply chain resiliencePillar 1 – Vulnerability.Pillar 2 – Management Culture.Pillar 3 – Procurement.Pillar 4 – Operations.Pillar 5 – Demand & Visibility.

What is the fourth stage of SCM?

The fourth stage is the delivery stage.

What is supply chain example?

A supply chain is comprised of all the businesses and individual contributors involved in creating a product, from raw materials to finished merchandise. … Examples of supply chain activities include farming, refining, design, manufacturing, packaging, and transportation.

What are the 7 stages of procurement?

The 7 Key Steps of a Procurement ProcessStep 1 – Identify Goods or Services Needed. … Step 2 – Consider a List of Suppliers. … Step 3 – Negotiate Contract Terms with Selected Supplier. … Step 4 – Finalise the Purchase Order. … Step 5 – Receive Invoice and Process Payment. … Step 6 – Delivery and Audit of the Order. … Step 7 – Maintain Accurate Record of Invoices.Sep 17, 2019

What are the five pillars of procurement?

The Five Pillars are:Value for Money. In short this means that it is not necessarily the tender with the lowest price that is going to win the bid. … Open and Effective Competition. … Ethics and Fair Dealing. … Accountability and Reporting. … Equity.Oct 31, 2019

What are the 6 types of supply chain management?

The 6 Supply Chain ModelsThe continuous flow models.The fast chain models.The efficient chain models.The custom configured model.The agile model.The flexible model.Feb 6, 2019

What are the 12 elements of logistics?

Terms in this set (12)Design Interface. … Sustaining Engineering. … Supply Support. … Maintenance Planning & Management. … Packaging, Handling, Storage, and Transportation. … Technical Data. … Support Equipment. … Training & Training Support.More items…

What are the components of supply chain management?

The Eight Components of Supply Chain ManagementPlanning. This is one of the most important stages. … Information. The world today is dominated by a continuous flow of information. … Source. Suppliers play a very crucial role in supply chain management systems. … Inventory. … Production. … Location. … Transportation. … Return of goods.

What are the four 4 stages of supply chains?

There are four customary stages in a product’s life cycle: the introductory phase, the growth phase, the maturity phase and the decline phase. Each phase is markedly different and often requires different value chains. Supply managers need to craft supply strategies that reflect the unique needs of each phase.

What are the four types of supply chains?

Supply chain models and simulations in SCM Globe are composed of just four types of entities: PRODUCTS; FACILITIES; VEHICLES; ROUTES. These entities relate to each other and their interactions are what drive supply operations and produce the simulation results and performance data.