“It’s not the organisations that are competing, it’s the supply chains that are competing.”- Wael Safwat, Supply Chain Management Association of Ontario
On the hottest days of the year, there’s always a refreshing drink waiting for you at the nearest convenience store. Ever wondered how that specific drink made it to that specific place? From procurement to labeling, pricing, insurance, storage, transportation and eventually distribution – that drink took a long supply chain journey!
In 1982, Keith Oliver, a consultant at Booz Allen Hamilton (now Strategy), introduced the term “Supply Chain Management” into the public domain in an interview for the Financial Times. The term gained currency when a number of books and articles were released in the public domain. A robust end to end supply chain is integral to the success of any organisation. It involves optimising operations to maximise speed (since customers value fast service) and at the same time maximising efficiency to prevent costs from shooting up. (more…)