ANALYTICAL STUDY ON SUPPLY CHAIN MANAGEMENT IN PHILIPS INDIA LIMITED

Abstract

Supply chain management (SCM) involves the planning, execution, and management of supply chain activities. Raw materials, work-in-process inventories, and completed goods transit and storage are all covered by SCM. Booz Allen Hamilton, a strategic consulting firm, originated the term supply chain management in 1982. Internal and external technologies that facilitate information flow between enterprises and individuals, as well as between customers and suppliers, will be studied in IT for supply chain management. The amount of data available and the cost savings associated with smart data are driving much of the current interest in this field. In the supply chain, the primary goal of information technology is to connect the site of production with the point of delivery or purchase. The idea is to create an information trail that follows the product's physical route. This allows for real-time planning, tracking, and lead time estimate. The shop, of course, must be informed of the progress of its orders, and suppliers must be able to anticipate a manufacturer order. Furthermore, participants want data in their own language. As a result, translation tables, such as bills of materials, are required throughout the system. The availability of product and material status information is the foundation for making informed supply chain choices. Furthermore, simply monitoring products along the supply chain is insufficient; numerous systems must be notified of the consequences of this movement. Supply chain managers are in charge of inventories, transportation systems, and whole distribution networks. Organizations may use supply chain management to meet or exceed their consumers' expectations. In addition to cost savings, the supply chain management technique enables better customer service. It's a complicated and dynamic web of facilities and organizations with a variety of competing goals. SCM will have to connect businesses in the future, enable increased communication among supply chain partners, and strive toward a synchronized value collaboration network. Firms can then discuss chain-wide profit maximization and economic value addition.