Supply Chain Management: Meaning, Importance, and Ways to Improve

Supply Chain
Management

Table of Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY.............................................................................................................................................3
TASK..........................................................................................................................................................3
Meaning and Importance of Supply Chain Management.........................................................................3
Managing relationships in the Supply Chain Management:.....................................................................3
Information and Supply Chain Management:..........................................................................................4
Procurement/Outsourcing in Supply Chain Management........................................................................4
Sustainability and Supply chain Management.........................................................................................5
Ways to improve Supply Chain Management..........................................................................................5
Ways to mitigate Supply Chain Risk and Reduction in Cost...................................................................6
How a Supply Chain Management can be sustainable?...........................................................................7
CONCLUSION..........................................................................................................................................8
REFERENCES..........................................................................................................................................9
Books and References:............................................................................................................................9

INTRODUCTION
Supply chain management can be defined as a management of movement of goods and
services which includes methods and procedures to transform raw materials into the finished
goods and their distribution to the end consumer. This management and ensures the maintenance
of equilibrium between demand and supply (Alkahtani, M. and Et.al., 2021). A company
required supply chain management with the purpose of reduction in wastes as much as it will be
possible and to enhance the quality of the customer experience. This report is going to prepare in
the context of supply chain management of the company Tesco. It is a London based company
specialized in the consumer goods. In 1919, Tesco was introduced by Jack Cohen. The British
Company expanded their business operations at global level. It has diversified into areas such as
retailing of furniture, toys, clothing, books, financial services and many more.
MAIN BODY
TASK
Meaning and Importance of Supply Chain Management.
Supply chain management or SCM is meant as a management of flowing goods and
services develop from raw material to finished goods sold to customers (Frederico, G. F. and
Et.al., 2019). SCM is a process moving and storing the materials used in production process store
that produced goods until they sell and tracking where finished goods so that manger can utilize
such data to drive upcoming sales. The process of supply chain management involves every part
of business operations that includes purchasing, logistics, technologies, or data. It incorporates
materials, manufacturing facilities, suppliers, wholesalers, financers, consumers, retailers into a
seamless system. In the context of Tesco, SCM helps to gain competitive advantage by making
Importance of Supply Chain Management:
 SCM supports the strategic plans and helps to develop the infrastructure for the business
to enable its future growth even at international level.
 SCM allows customer to receive finished products rapidly as the promises of company
also in a best way.
 SCM enables the business and maintain the balance of supply of products and the
demand of products.
Managing relationships in the Supply Chain Management:
Relationships in the supply chain covers a lot of area in supply chain management it
includes strategic relationships, internal relationships, tactical relationships, and transactional
relationships and many more. Supply chain relationship management is important for a long
journey because it makes supplier for the free movement of ideas and feedback.
Benefits of effective relationships in Supply Chain Management: