Key Principles of Supply Chain Management

Key Principles of SCM are:

– Increase Visibility: Make the information about the supply chain visible as much as possible throughout the organization. For example: Make the point of sales date available to Marketing, warehouse, Supplier, Manufacturing etc.

– Increase Velocity: Just make the stock, money, return and information flow as quick as possible. For example: Get the payments from the supplier sooner, so that you can invest the money in the business fairly quickly.

– Reduce Variability: Objective is to reduce the differences between standard and actual as much as possible. Key metrics such as – average completion time, average number of defects, average daily sales etc. should not have much variation in order to achieve effective supply chain.

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