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Supply chain professionals need to have knowledge of managing supply chain functions such as transportation, warehousing, inventory management, and production planning. In the past, supply chain professionals emphasized logistics skills, such as knowledge of shipping routes, familiarity with warehousing equipment and distribution center ...
Collaborative planning, forecasting, and replenishment (CPFR) is an approach to the supply chain process which focuses on joint practices. This is done through cooperative management of inventory through joint visibility and replenishment of products throughout the supply chain.
S&OP is the result of planning activities and it is composed of 5 main steps: data gathering, demand planning, supply planning, pre-meeting and executive meeting [7] with the addition of a preliminary step at the beginning (event plans), [8] two additional steps at the end of the process in case of a multinational company (global roll-up and ...
Multi-echelon inventory optimization represents a "state of the art" approach to optimize inventory across the end to end supply chain. Modeling multiple stages allows other types of inventory, including cycle stock and prebuild along with safety stock due to time phased demands, to be more accurately predicted. [18]
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Materials management is the process of planning and controlling material flows. It includes planning and procuring materials, supplier evaluation and selection, purchasing, expenditure, shipping, receipt processes for materials (including quality control), warehousing and inventory, and materials distribution. [6]
Supply chain engineering is the engineering discipline that concerns the planning, design, and operation of supply chains. [1] [2] Some of its main areas include logistics, production, and pricing.
Typically, supply-chain managers aim to maximize the profitable operation of their manufacturing and distribution supply chain. This could include measures like maximizing gross margin return on inventory invested (balancing the cost of inventory at all points in the supply chain with availability to the customer), minimizing total operating expenses (transportation, inventory and ...
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