A BRIEF ON SUPPLY CHAIN AND INVENTORY MANAGEMENT￼
A company can only excel if everything from the first to the last step of production to distribution is done right. A product goes through many stages; it is brought in as raw material, furnished into a fine thing, and later distributed in the market with the supply chain and logistics. Supply chain management in Dubai is a growing demand because it is the core of any efficiently functioning company. The whole distribution and order line would be highly disrupted if there is a fault in the way the supply chain and Inventory of a company are outlined.
To understand how these things work, it is essential to know and understand them. Here is brief information on supply chain and inventory management that you need to know.
- Understanding the definitions: Supply chain, in simpler words, is a relationship or procedure between a company and its core suppliers for the movement and delivery of products from the factory to the customers. In contrast, inventory management stocks products in the warehouse/storage units. After the product is entirely manufactured and capable of use, these things play a role.
- Understanding how the supply chain works: Supply chain and inventory management function differently. The supply chain mainly works around creating a bond between the two parties, i.e., The supplier and the company. Some companies have systems where their workers run the supplies and deal with the returns, while some outsource third-party supply chain managers who look after everything.
- Understanding how Inventory works: Different kinds of inventories are helpful for different types of procedures and steps during the shift of work. There is a storage inventory for raw materials, the products under manufacturing, and the final goods. These Inventories are essential assets to the company and the other distribution processes. There are many ways an inventory settles, including XYZ of inventory management and more.
- How inventory management and supply chain are related: There is an important relationship between the two. If the company’s Inventory is not maintained, there would be a lot of trouble running the supply because of its balance between the demand and supply. The two of them go hand in hand. Having Inventory also helps in making fast deliveries to customers.
- How are they relevant to business growth: Having an inventory and an active supply chain is necessary for many functions starting from meeting the demand in the market. It is evident that if a company provides instant answers to the needs in the market while having adequate stock and quick supply, there would be progress and improvement in the services.
Understanding the working of supply chain and inventory management is essential to people running a company or studying it. These procedures are interlinked, complementing the betterment and progress to the full. If you want to know more about how these things are managed in huge enterprises, you can always look for supply chain management in Dubai and learn what you need to, and it is an essential factor that one could never eliminate.