article thumbnail

What is Supply Chain Management? A Guide to Success

SCMDOJO

Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation. It also involves inventory management, order fulfillment, and monitoring stock levels.

article thumbnail

Mastering Agility and Resilience in Your Supply Chain

SCMDOJO

A dynamic and responsive infrastructure, robust risk management practices, and strong relationships with suppliers and partners characterize them. Ensuring Business Continuity: Supply chain disruptions can have far-reaching consequences, affecting logistics, suppliers, and workforces.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Streamlining supply chain management: Strategies for the future

IBM Supply Chain Blog

Supply chain disruptions are caused by a variety of factors, from pandemics, natural disasters and political instability to supplier bankruptcy and IT failures. To mitigate these risks , companies need the resources and technology to develop robust contingency plans.

article thumbnail

Mastering Resilience in Your Supply Chain

SCMDOJO

A dynamic and responsive infrastructure, robust risk management practices, and strong relationships with suppliers and partners characterize them. Ensuring Business Continuity: Supply chain disruptions can have far-reaching consequences, affecting logistics, suppliers, and workforces.

article thumbnail

Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.

article thumbnail

How Machine Learning is Transforming Supply Chain Management

Una

Tips for Building an Effective Procurement Data Strategy Robots in Procurement Supplier selection & risk management Think of machine learning as your trusted advisor when it comes to choosing and monitoring suppliers. Then there’s the resource-intensive task of supplier monitoring.

article thumbnail

Navigating Global Supply Chain Disruptions: Strategies for Resilience

SCMDOJO

Japan and Taiwan have earthquakes often, and they both are some of the leading suppliers of microchips. Supply Chain Risk Management, or (SCRM for short), is an already expanding industry, and with artificial intelligence becoming more intelligent by the day, it’s going to be an integral part of any supply chain analysis.