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Importance of Supply Chain Management

   
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Title: Importance of Supply Chain Management
 
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Subject: Business
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Date: December 28, 2006
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Length: 4 / 915
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Thomson Gale says, “In addition to helping to create an efficient, integrated company, supply chain management also plays a large part in reducing costs. Depending on the industry, companies leading in supply chain performance achieve savings equal to three to seven percent of revenues compared with their median performing peers...
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The use of strategic partnerships builds a relationship between the suppliers and buyers that can help both parties reduce their cost, which also builds trust between them both. Information sharing is used by supply chain partners for manufacturers to be able to utilize retailers’ current sales information to better forecast demand and diminish lead times...
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