Supply chain

With rapid proliferation of different types of business worldwide supply chain has become extremely important. At its basic, a supply chain is a network between a company and its suppliers to manufacture and distribute a particular product or service to the end user. Supply chain management (SCM) is the management of supply chain procedures to optimize customer value and facilitate competitive advantage by enhancing efficacy. Supply chain activities entail product development, sourcing, production, and logistics, along with information systems needed to coordinate these activities.

Supply chain management is a crucial, because an optimized supply chain helps reduce costs and improve production cycle. A noticeable trend in the domain of supply chain is the soaring popularity of cloud based supply chain management on account of the reduced operational costs and better operational visibility it accords. Other modern sophisticated technologies such as Internet of Things (IoT) and big data analytics are also being deployed these days to attain more seamless operations.