Business strategy consists of a group of choices that positions any business in industry to generate greater financial returns. Identifying right choices is not easy or an obvious decision to make, but decisions such as these need to be made and executed using the finite resources available. Strategic Business Management includes decisions and actions, which…
Tag: Supply Chain Management
Supply Chain Integration
What is Supply Chain Integration? A Supply Chain incorporates different departments engaged with the procurement of raw materials, manufacturing products and delivering finished goods. Supply Chain Integration is a process where all departments of an organisation come together in a single system for the fulfilment of consumer demand. Supply Chain Integration requires the collaboration of…
What is Enterprise Resource Planning (ERP) and why do you need it?
Enterprise Resource Planning (ERP) is an integrated process that helps an organisation to manage diverse functions. ERP manages financials, supply chain, operations, reporting, manufacturing, and human resource activities. ERP software integrates these functions into a complete system to streamline processes and information across the whole organisation. Effective ERP management allows various departments to communicate and…
Supply Chain Performance Measures and KPIs
Supply Chain performance measures define the activities involved in meeting end-customer requirements, essential inventory, and on-time and in-full delivery in a responsive manner. Supply Chain performance measures can be functional indicators and end-to-end supply chain indicators. A supply chain is called efficient when it is well-organised and ensures perfect delivery of goods and services from…
Reconciliation in Sales and Operations Planning
Sales and Operations Planning (S&OP) is a methodology that provides a framework for organisations to regularly plan and review their demand, supply and inventory levels. It helps to improve productivity and customer satisfaction. Meaning of reconciliation The word ‘reconciliation’ literally means ‘the process of making consistence or compatible’. In accounting, it means comparing two accounts…
What is Inventory Management?
Inventory Management refers to a process that deals with supply chain management, inventory control and demand forecasting. It is used for efficiently managing the regular flow of units into and out of a standing inventory. It is all about knowing what organisations have, where it’s stocked and how much they will need. Instruments of Inventory…
Decision Phases in Supply Chain Management (SCM)
Supply Chain Management (SCM) is a management practice that governs the movement of goods and services inside or outside the organisation. Effective SCM needs various decisions regarding the flow of information, products, and finances. SCM includes all methods that convert raw materials into finished goods, it comprises the designing, planning, executing, controlling and monitoring of…
Supply Planning in Sales & Operations Planning
What is Supply Planning? Supply Planning is one of the most crucial steps in Sales & Operations Planning (S&OP) and supply chain management. It aims at achieving a plan that efficiently fulfils the demand for any product or service. Procurement, manufacturing, warehousing, distribution and logistics are the constituent parts of supply planning. Supply and demand…
Integrated Business Planning (IBP) and Sales & Operations Planning (S&OP)
The journey of business planning from ‘production planning’ to ‘Integrated Business Planning (IBP)’ involved multiple changes in methodologies, processes and decision-making frameworks. Sales and Operations Planning (S&OP) is one of the intermediate stages in this journey, while a collaborative IBP is a final stage (at least till now). IBP and S&OP are neither exactly like…