Question

“The supply chain management drivers were the main focus that motivates supply chain sustainability”. state Principle of supply chain management​

Answer 1

Answer:

Seven Principles of SCM

More than ten years ago, a research study of 100+ manufacturers, distributors, and retailers uncovered some widely used supply chain strategies and initiatives. These ideas and practices were distilled down to seven principles and presented in an article in Supply Chain Management Review, a magazine widely read by SCM professionals.

• Principle 1: Segment customers based on the service needs of distinct groups and adapt the supply chain to serve these segments profitably.
• Principle 2: Customize the logistics network to the service requirements and profitability of customer segments.
• Principle 3: Listen to market signals and align demand planning accordingly across the supply chain, ensuring consistent forecasts and optimal resource allocation.
• Principle 4: Differentiate product closer to the customer and speed conversation across the supply chain.
• Principle 5: Manage sources of supply strategically to reduce the total cost of owning materials and services.
• Principle 6: Develop a supply chain-wide technology strategy that supports multiple levels of decision-making and gives a clear view of the flow of products, services, and information.
• Principle 7: Adopt channel-spanning performance measures to gauge collective success in reaching the end-user effectively and efficiently.

Though they are more than a decade old, these timeless principles highlight the need for supply chain leaders to focus on the customer. They also stress the importance of coordinating activities (demand planning, sourcing, assembly, delivery, and information sharing) within and across organizations.

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