Supply Chain Management (SCM) is the combination of art and science that goes into
improving the way your company finds the raw components it needs to make a
product or service, manufactures that product or service and delivers it to
customers.
Supply chain management flows can be divided into three main flows:
- The Product Flow
- The Information Flow
- The Financial Flow
The Product Flow includes the movement of goods
from a supplier to a customer, as well as any customer returns or service needs.
The Information Flow involves transmitting orders and updating the status of
delivery. The Financial Flow consists of credit terms, payment schedules, and
consignment and title ownership arrangements.
There are two main types of SCM software: planning applications and execution
applications. Planning applications use advanced algorithms to determine the
best way to fill an order. Execution applications track the physical status of
goods, the management of materials, and financial information involving all
parties.
Some SCM applications are based on open data models that support the sharing
of data both inside and outside the enterprise (including key suppliers, manufacturers, and end customers of a
specific company). This shared data may reside in diverse database systems, or
data warehouses, at several different sites and companies.
By sharing this data "upstream" (with a company's suppliers) and "downstream"
(with a company's clients), SCM applications have the potential to improve the
time-to-market of products, reduce costs, and allow all parties in the supply
chain to better manage current resources and plan for future needs.
Exponential Technologies recognizes our customers’ needs for SCM solutions which would release entrapped value in the supply chain and
facilitate collaboration between both the internal and external stakeholders of
the company. We are focused on creating solutions which help our clients address key issues
like purchasing, inbound logistics, operations, warehouse management, outbound
logistics, and demand management. Exponential can integrate your organization's existing systems and/or create custom SCM solutions which will derive new efficiencies and enhance your current supply chain processes.