MANAGING THE SUPPLY CHAIN THROUGH IMPROVED FORECASTING TECHNIQUES

Abstract

A supply chain is a network of facilities and distribution options that performs the functions of procurements of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Marketing, distribution, planning, manufacturing, and the purchasing organizations along the supply chain have traditionally operated independently. These organizations have their own objectives and these are often conflicting. Many manufacturing operations are designed to maximize throughput and lower costs with little consideration for the impact on inventory levels and distribution capabilities. Purchasing contracts are often negotiated with very little information beyond historical buying patterns. The result of these factors is that there is not a single, integrated plan for the organization. Clearly, there is a need for a mechanism through which these different functions can be integrated together. Supply Chain Management ...