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Discussing how Supply Management Benefits Organizations

Based on your experience or readings, discuss how supply management benefits organizations in the public and private sectors.

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Q - Discuss how Supply Management benefits organizations in the public and private sectors.

Supply chain management (SCM) is an amalgamation of science and art, that improves the methods organizations use to find raw components needed to manufacture products and/or services, and distribute it to the consumers. The principle behind supply chain management is to develop collaboration and trust amongst supply chain partners, while benefiting an organization's inventory visibility and the rapidity of inventory progress. There are five fundamental components of Supply chain management; each methodically benefits an organization, they are:

1. The planning stage: This is the strategic part of Supply chain management. Organizations (both public and private) need strategies for managing all resources to ...

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This solution provides a discussion of how supply management benefits organizations.