Economic Research Papers

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Essay On Supply Chain Management

Supply Chain Management is responsible for developing partnerships and relations that are reliable between the stakeholders and the suppliers of the organisation. It can be said that Supply Chain Management (SCM) is responsible for improving the visibility and velocity of inventory in relation to advancement in the construction projects (Jap, 2001, pp.10). With appropriate application of methods of SCM, organisations are able to achieve benefits both in the short and long terms. A number of studies have proved that the correct tools of application of SCM are responsible for providing 10% enhancement in the annual turnover of an organisation (Jap, 2001, pp.19).