Supply Chain Management is the discipline which encompasses the end to end business activities carried out in any business, independent of the manufacturing or service sectors. It is the synchronization of a network of facilities and distribution options that performs procurement of materials, processing the materials into finished products, and distribution of the products to customers. SCM is seen as involving five fundamental processes. These include planning, sourcing, making, delivering, and returning.
SCM subsists in both service and manufacturing environments. A typical supply chain consists of many interactions between suppliers, manufacturers, distributors, retailers, with the vital goal of providing either a service or a product to customers. This also works in reverse with the customer at the head of the process when returning a product.
SCM is used as a means to assimilate planning, purchasing, manufacturing, distribution, and marketing organizations that normally do not work together to achieve a common goal. Each works toward goals specific to their own organization that accomplish narrow objectives. SCM is a way of integrating these varying functions so that they work together to make best use of the benefits for all involved.
Wal-Mart has been leading the charge with RFID technology. Having the largest retailer adopt and begin to use RFID technology has given strong backing to the technology and will only further and quicken the expansion of RFID. They have begun requiring all their major suppliers to implement RFID technology on all products supplied to Wal-Mart.
Author:- Ankur Sehgal
Source:-Final Year Project