Supply chain refers to the network between producers and different suppliers or supply agents. It is related with supply and distribution of manufactured items in the market. The supply chain management or network is a wide subject encompassing procurements, storage and supply of the products in the market. The supply chain management assignment comes under economics and marketing management subjects which is being taught in all universities in Australia.
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Procurement is the initial phase of the supply chain management. It refers to obtaining of products from the manufacturer's site. It begins with exploring different manufacturers of a product, analysing the pricing and other terms of purchase and making agreement with the selected manufacturer and final purchasing of a product. The procurement period of products may be large or small depending on the different bidders, time taken on finalizing the purchase deal. Suppliers can search available producers from both online as well as offline sources.
The storage comes next after the procurement process. It is storing of the procured products at various storage locations of a supplier. The storage is also made of different subprocesses such as incoming stock management, safe upkeeping of stocked products and clearance of stocks for final dispatch. Perishable items such as fruits and vegetables require temperature-controlled storage facilities so that it can be kept in fresh and undamaged condition till the final delivery. Large engineering products require storage in large facilities. Many suppliers also keep bulk products at third party storage facilities. Learn more about the storage by our supply chain management assignment help experts.
This is the last stage of supply chain management and refers to the final delivery of products to the market from the supplier's storage points. Many manufacturers also supply their manufactured products directly into the market from their storage facilities. However, public sector companies usually sell their products in the market through different suppliers. The supply of the products and services depends on its actual market demand, number of suppliers of a product and presence of substitutes. Due to convenience of operation, many suppliers now do business through online sites.
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