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Supply Chain Activities

The network of organizations, individuals, operational activities, resources, information, and the technology involved in the delivery of a product to the end-user is known as supply chain. The supply chain operations encompass the supply of raw materials, natural resources, and components into a refined product to the customer.

Supply chain involves designing, planning, implementation, management, and supervising of supply chain activities with the objective of adding value to the industry. Supply chain management is an important aspect of the IT, logistics, procurement, amongst other industries.

With technology reaching every corner, it’s significant for business professionals to adopt new trends to simplify their supply chain and boost efficiency. The modern supply chain tools provide a better control of the business and also keep the organization competitive in the market. The supply chain technology applications make the supply operations more productive and also trim down the operational costs. Technologies like computerized shipping and tracking, use of social media, Radio Frequency Identification (RFID) to track the goods and services are utilized nowadays for an improved supply chain management.  Today, numerous companies are adopting web-based applications or websites for their supply chain processes.

The supply chain professionals’ ultimate job is to reduce inventory presuming that the good and services will be available when needed. The supply chain management application works on the principle of open data models that involve the sharing of data within and outside the organization. This exchanged data may be located in different database systems or data warehouses of organizations. The sharing of data with an organization’s suppliers or their customers augments the time-to-market of goods, reduces costs, and allows the supply chain professionals to handle their resources in an organized manner and plan for their future requirements.

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