Efficient supply chain management is the key to a successful business. The supply chain plays a vital role in executing all the processes. It has five basic steps, and all of them demand equal amounts of attention and time. The supply chain is the key to logistics and transportation being managed efficiently. 

Supply Chain Management 

Supply chain management has five major steps. These steps include proper planning that leads to efficient execution. For this execution, you need to have an appropriate system of sourcing. From sourcing, you move towards manufacturing. After the making process is done, you move forward to the transportation. Here you define your destination while keeping in mind your location. All the factors, including timing and pricing, are efficiently determined here. You keep in mind the return policy and manage your steps accordingly. These steps are defined here: 

• Plan

First of all, plan! Before you start doing anything, just make a mind map and craft your ideas on paper. Properly make up things and come up with an implacable plan. This is the first step of supply chain management. Once you are done with the plan, move forward. 

• Source

After you are done with the planning, move forward to the source and see if you can find a manufacturer, a retailer, or anyone that can source you a proper set of things. After identifying a source, legally sign a contract with them and collectively move forward to the next step of your supply chain management. 

• Make

After you have found a source, move towards making the product. While manufacturing, you develop good relations with people. This is a plus point for you and your company. After you are done with establishing good contacts and making up the products, move towards the actual transportation process. 

• Deliver

Once your product is ready to dispatch, you plan a transportation strategy. Properly make up a plan of delivery and start working on its execution. After you are done with the planning and execution, you are halfway done.

• Return

After the delivery process has taken place, do not forget that there might be a possibility of return or, in some cases, a necessity. Once you dispatch the products to a retailer and he finds it defaulted, you will have the responsibility to return them. Remember to decide and compile a contract for the return policy. 

FAQs

Q. What is supply chain management? 

It is a process in which transportation, manufacturing, and logistics are all handled efficiently with the help of proper planning and execution.

Q. Why is the supply chain important?

The Supply chain process is immensely important in the process of business development. The smooth transition from one point to another is vital for efficiently carrying out the business development. 

Conclusion

After analyzing all the key features, we develop five basic steps of supply chain management. These steps include proper planning and efficient sourcing. Later, manufacturing and delivering, while keeping in mind the concept of return that might be possible. For more queries, visit Gillson Solutions.