What are the 7 supply chain functions?

What are the 7 supply chain functions?

While supply chain is a very broad career field, it has 7 primary functional areas: Purchasing, Manufacturing, Inventory Management, Demand Planning, Warehousing, Transportation, and Customer Service.

What are the 5 Rs in logistics?

The Five Rs of Returns Management

• Returns. Returns are the first step in reverse logistics flow. …
• Recalls. Another return format is recalls. …
• Recycling. Sustainable practices are at the forefront of many industries. …
• Repackaging. …
• Repair.

What is the principle of SCM?

Principle 1: Segment customers based on the service needs of distinct groups and adapt the supply chain to serve these segments profitably. Principle 2: Customize the logistics network to the service requirements and profitability of customer segments.

What are the 7 principles of procurement?

7. Principles of Procurement

• Accountability. …
• Competitive Supply. …
• Consistency. …
• Effectiveness. …
• Value for Money. …
• Fair-dealing. …
• Integration. …
• Integrity.

What are the 7 R’s of supply chain management?

The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.

What are the 6 rights in logistics?

What are the six rights?

• Right Source – are you purchasing from the correct source? …
• Right Price – are you purchasing within the budget? …
• Right Quantity – can you manage the quantity required against the price? …
• Right Time – Delivery needs to happen as planned so you can manage your inventory effectively.

What are the 7 rights of customer service?

Like getting the Right product, in the Right condition, in the Right quantity, at the Right time, in the Right place, to the Right customer, at the Right price. Each of these 7 rights is elaborated below.

What are the types of logistics?

Logistics can be split into five types by field: procurement logistics, production logistics, sales logistics, recovery logistics, and recycling logistics. Each of these is explained in detail, but first we should learn about logistics fields and types.

What is logistic principle?

Therefore logisticians must understand and apply logistics Principles in managing logistics support, Logistics principles has eight principles those are : Logistics Intelligence, Objective, Generative logistics, Interdependence Simplicity, Timeliness, Forward Impetus and Security.

What are the 8 supply chain processes?

Eight Key Business Processes for a Seamless Supply Chain…

• Customer Relationship Management. …
• Supplier Relationship Management. …
• Customer Service Management. …
• <Demand Management. …
• The Order Fulfilment. …
• Manufacturing Flow Management. …
• Product Development and Commercialisation. …
• Returns Management.

What are the 4 components of supply chain management?

What are the components of your supply chain you should be focusing on right now?

• INTEGRATION. Integration starts at your strategic planning phase and is critical throughout your communications and information sharing and data analysis and storage. …
• OPERATIONS. …
• PURCHASING. …
• DISTRIBUTION.

What are the 5 principles of procurement?

5 Procurement Principles UN Staff Members Should Know

• Best value for money. …
• Fairness, integrity, and transparency. …
• Effective international competition. …
• The interest of the Contractor. …
• Client centricity.

What are the five pillars of procurement?

The 5 Pillars of Procurement and Supply Chain Management

• Value for Money. In short this means that it is not necessarily the tender with the lowest price that is going to win the bid. …
• Open and Effective Competition. …
• Ethics and Fair Dealing. …
• Accountability and Reporting. …
• Equity.

What are the 5 steps of procurement process?

There are 5 steps in the procurement lifecycle:

• Requirements.
• Vendor selection.
• Negotiation and contracting.
• Service delivery and performance monitoring.
• Renewal/contract closure.

Why is 7R important?

7R’s or 7 Rights plays a significant role in the backing of supply chains and international logistics. Every organization wants to excel in its functionality. They want the work to be done with optimal utilization of resources.

What is 3PL vs 4PL?

A 3PL (third-party logistics) provider manages all aspects of fulfillment, from warehousing to shipping. A 4PL (fourth-party logistics) provider manages a 3PL on behalf of the customer and other aspects of the supply chain.

What is logistic cycle?

Logistics management cycle includes key activities such as product selection, quantification and procurement, inventory management, storage, and distribution. Other activities that help drive the logistics cycle and are also at the heart of logistics are organisation and staffing, budget, supervision, and evaluation.