Why is supply chain management important?

chain Management supply
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Why is supply chain management important?

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Two main reasons – money and opportunity. In the US about 10 percent of gross domestic product, or almost $1 trillion, is spent on supply chain activities. Advances in information technology (IT) and the expanding IT infrastructure are introducing new possibilities to improve service and efficiencies, and given the amount of money at stake, the opportunities are high. Some people view the IT tools that underlie supply chain management as the backbone of e-commerce. Source: Syracuse University , Whitman School of Management In years past, manufacturers were the drivers of the supply chain — managing the pace at which products were manufactured and distributed. Today, customers are calling the shots, and manufacturers are scrambling to meet customer demands for options / styles / features, quick order fulfillment, and fast delivery. Manufacturing quality — a long-time competitive differentiator — is approaching parity across the board, so meeting customers’ specific demands for product d

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