Embisphere is at Colombo supply chain Forum - Sri Lanka
Supply Chain Management(SCM) is all about getting the right things to the right places at the right time. It contributes to business performance by finding out ways to get goods to the customer better, faster and cheaper.
Join Embisphere at – “Colombo supply chain Forum” on 4th & 5th of October - Sri Lanka
Supply Chain Management
Increased globalisation and competition has made Supply Chain Management (SCM) a very important and critical issue for any company. SCM is all about getting the right things to the right places at the right time. It contributes to business performance by finding out ways to get goods to the customer better, faster and cheaper.
The stakeholders of a typical supply chain include supplier, manufacturer, distributor, retailer and customer. Thus, SCM aims at movement of goods and services from one end of this chain to the other through different stages so as to improve the efficiency, productivity and profitability of the entire process. When the customer has direct access to global suppliers, the number of competing vendors in any category is huge. Global markets force companies to maintain competitive prices. Thus, the ability to produce a given product at a lower cost can give any company tremendous competitive advantage irrespective of its geographical location. At the same time, increased volumes in the global market add substantially to the bottom-line. SCM is all about achieving higher volumes and service levels without having to raise costs.
Supply Chain Management in Sri Lanka
Supply chain managers are essentially the implementers of the above intent. Given the overall marketing strategy of the company, it is they who decide how to actually make the corporate strategy work. They execute the procurement strategy, the manufacturing plan and the distribution scheme in alignment with the goals of the company.
Since the industry realises the extent to which the synergy of all these activities determines the overall profitability of any firm, a lot of effort is directed towards improving the efficiency of supply chain. Strategic Sourcing, GPS and RFID based tracking, Total Productivity Management (TPM), Total Quality Management (TQM), Enterprise Resource Planning (ERP), Management Information System, Supply Chain Simulation and Modelling, e-Commerce, Inventory Control and Distribution Structure Optimisation—these are some of the arrows in the quiver of supply chain managers.
Unfortunately, in Sri Lanka the focus of corporates on Supply Chain Management has been comparatively low. In the recent past corporates have started to focus on Supply Chain Management however that very fact that there are very few qualified Supply Chain Specialist in Sri Lanka and even less focus on Supply Chain studies.