![]() Each link adds time and costs, and can involve labor, parts, and transportation. The concept of the chain is important, because each link is connected in a specific direction and order, and the next link cannot be reached without going through the previous one. The chain is made up of nodes or “links,” which can include multiple manufacturers for parts, then the completed product, then the warehouse where it is stored, then its distribution centers, and finally, the store where a consumer can purchase it. Ready? Let’s get started.Ī supply chain is a collection of suppliers required to create one specific product for a company. Finally, you’ll find useful resources, templates, and education programs. Then we’ll move on to current issues and where the field is going. This article will cover what a supply chain is, with examples discuss how supply chain management works and its principles and vital concepts in the field. It’s safe to say that supply chain management is both an art and a science. For the largest companies, managing a supply chain can require dedicated teams in every area the chain touches. And on the other end, the supply chain grows more frayed in order to deliver to countless countries for consumption. Supply chains have had to keep in step, passing through numerous countries to obtain goods most efficiently and cost effectively, and growing more complex as a result. Globalization has become an undeniable part of commerce over the last few decades, as large companies have grown first to source labor and parts from developing regions, and then to start selling in those same areas as they grew in wealth and buying power. WorkApps Package your entire business program or project into a WorkApp in minutes.Digital asset management Manage and distribute assets, and see how they perform.Resource management Find the best project team and forecast resourcing needs.Intelligent workflows Automate business processes across systems.Governance & administration Configure and manage global controls and settings.Streamlined business apps Build easy-to-navigate business apps in minutes. ![]()
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