What is the subset of the Supply chain Management?

The subset of the supply chain management is Sourcing or Procurement.

What is the meaning of Sourcing?

It means managing the demand by dealing with all aspects related to the inputs to product or service in the organization with managing the supplier relationship effectively.

What is mean by the decision criteria in the supply chain management ?

It means how to create decisions to manage and operate the supply chain in next few years of the company

What are the phases of decisions made in supply chain management ?

Strategic supply chain decisions -

Managing the locations, modes of transportation, capacity and relevant facilities and information systems.

Planning supply chain decisions -

Generating inventory policies, lead time management, market size analyze

Operational supply chain decisions -  

Handling incoming customer orders in the best possible manner

How can you show the value generation to the business by the Supply chain visually?

Any kind of business has three criteria which generate value. Mainly  flow of information, product and funds. Without that value generation the end product which is served to the customer may not be a satisfied product. The below flow is essential In order to convert it to an augmented product from a core product in the business. 

What is the objective of the supply chain Management?

The objective of supply chain management is to maximize the overall value of the total business process.  

What is the value that Supply chain Management brings to the business?

The difference of the final product value which served to customer and the initial cost of the good is the value that generated in the total business process. Other than the cost of materials any business has to invest in assets, processes, systems, information and also for innovations to increase the core value of the product and also to delight the customer.

What is Supply Chain Management 

Supply chain management means planning and control the total processes of the business which involved, all suppliers, customers and other intermediaries who belong directly and indirectly to fulfill the customer satisfaction