Abstract

In this study, we try to explore the concept of “Supply chain management” in a holistic context. The focus of the research is on “Effect of supply chain on business”. The research also analyzes many aspects of “Supply chain” and tries to gauge its effect on “business”.

Table of Contents

INTRODUCTION3

DISCUSSION:3

CONCLUSION:5

SUPPLY CHAIN MANAGEMENT

INTRODUCTION

The supply chain management is a very important part of any business, because the whole value chain of the business turns out to affect the whole business. The major objective of supply chain management is helping the companies to make more accurate forecasts about future with the help of company objectives. Proper supply chain management paves the way for a company to achieve those objectives.

In the coming years, with more advancement in technology it is expected that supply chain will play even more important part of the company planning. The reason being that the new features of supply chain will enable the company to focus more on cost control with more customer satisfaction (Frazelle Pp.210)

DISCUSSION:

The supply chain of any company has direct affect on any customer because a company delivers its product to its customers through the supply chain and it is one of the best ways to determine the customer needs. Advancements in technology has enabled the marketers to interact with their customer in a better way and now the companies know their customer demands even before the customers can express it and due to this phenomenon the marketers can now make more targeted marketing campaigns. The new tools and techniques which have been provided to the marketers by the technology has given them a chance to better focus on their customers, e.g. Business Intelligence can help a company determine the customers behavior over time, which in return enables the marketers make more targeted plans for their customers. ERP (Enterprise Resource Planner) is one of the latest technologies, which can play a huge role in revolutionizing the whole system of business and especially the field of customer relationship management. The ERP provides an integrated view of the whole supply chain and with the help of BI (Business Intelligence) it can help a company look the conventional system of just providing the customers with the product and then forgetting it. The better use of technology can help a company better understand its customers and can create more customized products and services, which in turn would help the company build customer relationship and the customer retention would ratio would be boosted. The usage of this technology can help a company answer questions like what do the customers want from us, what are the customer's buying pattern over the years, how we can better serve our customers, etc. This would help the companies improve upon their marketing plans, which they create for marketing their products answers to all these questions would really help the marketers to understand their customers in a better way and create more suitable and more focused marketing plans.

The technology has also affected the inventory management systems, which ...