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INCLUSIVE GROWTH BY REALIGNING SUPPLY CHAINS - Supply Chain
 

A supply chain is a system of organizations, people, technologies, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to the end user.
 

In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable.

Supply Chain Management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities.
Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and

customers. In essence, supply chain management integrates supply and demand management within and across companies. Supply Chain Management is an integrating function with primary responsibility for linking major business functions and business processes within and across companies into a cohesive and high-performing business model.
It includes all of the logistics management activities noted above, as well as manufacturing operations, and it drives coordination of processes and activities with and across marketing, sales, product design, finance and information technology.

A typical supply chain begins with ecological and biological regulation of natural resources, followed by the human extraction of raw material, and includes several production links (e.g., component construction, assembly, and merging) before moving on to several layers of storage facilities of ever-decreasing size and ever more remote geographical locations, and finally reaching the consumer.

Companies everywhere are realizing that their supply chain holds the key to their future success. To be sure, turning the supply chain into a source of savings, profits, and innovation is no longer an option exercised by only the most resource–rich enterprises; rather, it is a key differentiator for all businesses regardless of size, industry, geography or market served.

 

 REALIGNING SUPPLY CHAINS

There are various ways of realigning the supply chains to help the society at large by making the small entrepreneurs, farmers, skilled persons to contribute in fulfilling the need of the product & services of companies.

This inclusive step will definitely go a long way to purposefully providing employment to persons and at the same time improve bottom line of companies.
Those who create environmental and social value alongside economic value are often considered to have a sustainable triple bottom line.

There are various measures which can be adopted by companies in improving their supply chain to attain inclusive growth.
Some of them are like, Direct Procurement from producers/primary suppliers, Use of Information & Technology, Vendor Development, Open Tendering, Ancillary Development, Targeted Procurement, and Unbundling of Contract are discussed in this paper.

By giving effect to inclusiveness, through realigning supply chain, companies can improve their triple bottom line.

The triple bottom line is a popular concept for understanding social responsibility among corporations looking to incorporate non-monetary values into their business model.
It's a method of "true cost accounting," which considers the impact of production decisions in terms of ecological and social value, as well as economic value.

 

 

Click these links to read in details:

Introduction
Inclusivity Measurement
Present Scenario
Supply Chain

Realigning Supply Chain through :

Direct Procurement from Producers/Primary Suppliers
Use of Information & Technology
Vendor Development
Open Tendering
Ancillary Development
Targeted Procurement
Unbundling of Contract

Discussion
 


By
Digvijay Singh, Dy. Manager (Materials Management)
Research & Development Center for Iron & Steel (RDCIS)
Steel Authority of India Ltd. (Ranchi)

 

Read below more Articles on Supply Chain Topics......

 

Supply Chain Technology: What's Next?
Supply Chain Management BEST practices : Outsourcing

Supply Chain Management : Multi Stage Dynamics

The Basics of RFID Technology

Common problems with Cost Savings Reports

Dynamic Business environment
Supply Chain Strategies

Benefits of preparedness in Negotiation

Seven Principles of Supply Chain Management
10 necessary Strategies for Supply Chain Management
Inclusive growth by realigning Supply Chain

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