Supply Chain Management Practices of Organized Retail Sector –An Empirical Study Based on the State of Punjab
Periodic Research (P:
ISSN No. 2231-0045 RNI No. UPBIL/2012/55438 VOL.-IV, ISSUE-IV, May-2016 E: ISSN
No. 2349-9435)
Abstract
Assistant Professor, Deptt.of Commerce and Business Management, A.S.S.M. College, Mukandpur
Supply chain management is getting the right things, to the right places, at the right times for maximum profit. Many important strategic decisions impact the supply chain: how to coordinate the production of goods and services, including which suppliers to buy materials from; how and where to store inventory; how to distribute products in the most cost effective, timely manner; and how and when to make payments. The highly competitive environment of the organized retailing sector has made companies look for a competitive advantage. While supply chain management is as old as trade itself, new information and communication technologies have made today’s supply chains better, faster and cheaper. Information engineering that combines new information technologies with improved production, inventory, distribution and payment methods has revolutionized supply chain operations. For example, one way to buy a computer is to get on Dell’s web site and configure and price a system exactly as one wants. As soon as the online order is submitted, all of Dell’s global suppliers— those providing chips, monitors and so on—are immediately notified of the sale and go to work so that one can receive the computer typically within a week. In contrast the old model of supply chain management requires the customer to go to a store in search of a product that the manufacturer thinks you want to buy.
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