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Supply Chain Mangement
Aim: To analyse the impact of supply chain management practice to rationalize inventor ObjectivesTo understand the concept of supply chain managementTo evaluate the factors that impact supply chain management applicationTo identify the impact of supply chain management practice on success of organisationTo analyse supply chain management relation with rationalization of inventor LITERATURE REVIEWSupply chain management is considered as key aspect of every business because it allowsto advance overall performance. In addition to this, it can be stated that by having an improvedfocus on supply chain the business firm will try to overcome issues in appropriate manner.According to Adams (2002), the concept of supply chain management (SCM) of the mostimportant trends that seek to achieve compatibility with the requirements of globalization. Byhaving an improved focus on supply chain the businesses can attain better competitive advantageover businesses. Alabdulkarim (2014) has stated that competition framework traditional in theform of a competition between organizations to last more robust form of a competition betweensupply some strings with some have the ability of those chains to respond to rapid continuousvariables in the business environment.Allio (2013) has stated that supply chain management has become a sucessful strategy forevery business firm because it improve inventory management. By having an improved focus onsupply chain management the balance between demand and supply can be well maintained. Itmeans the goods inventory can also be advanced in desired manner. Along with this, reserveflows can also be improved which assist in meeting supply chain management values. As per theview of Bose (2008), companies need to manage the upstream supplier exchanges anddownstream customer demands. By having an improved focus on supply chain management theintegerated linear programing values can be improved. With an assistance of supply chain theactivities like planning, transportation and network design can be advanced effectively. In orderto meet key goals and objectives limitation constraints constructed by continuous and integervariables need to be referred effectively. Buscemi (2014) has contended that supply chainmanagement advancement might help in improving the bottom line so that goals and objectives
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