supply chain management

(redirected from Supply chain event management)
Also found in: Dictionary, Acronyms, Encyclopedia.

Supply Chain Management

The act or process of ensuring that one's business has the proper supplies in order to continue operations. Supply management involves ensuring that supplies are procured as cheaply as possible. For example, a construction company must procure cement, wood, and nails efficiently and inexpensively; equally, a consulting firm must make sure that research materials are easily available. Large companies often devote whole divisions to supply chain management, giving them budgets of millions of dollars to help the company save money.

There are two basic types of supply chain management: just in time and just in case. A just in time supply chain management strategy involves keeping only enough inventory to meet immediate business needs. This requires constant monitoring but can save a significant amount money. A just in case strategy, on the other hand, keeps a larger inventory to meet unexpected increases in demand. This saves less money (depending on the nature of the business and matters like carrying costs) but can be easier to manage.

supply chain management

a term used to describe the management of inventory (STOCK), not only within a firm but also along the network of suppliers and customers which constitute the SUPPLY CHAIN or VALUE-ADDED CHAIN. Supply chain management employs a variety of methods such as STOCK CONTROL, MATERIALS REQUIREMENT PLANNING and DISTRIBUTED REQUIREMENT PLANNING to both minimize stock-holding costs while maintaining effective distributed levels of servicing customer orders. See SUPPLIER DEVELOPMENT.
References in periodicals archive ?
Verano is expanding its list of preferred integration partners through which it has deployed a number of supply chain event management solutions in production and process industries.
Proceeding on our belief that SCEM is a viable improvement technique, we present a Supply Chain Event Management Approach (called SCHEMA) for dealing with an event scenario like the one presented in Exhibit 2.
Implementation of the Supply Chain Event Management Approach follows a sequence that would be familiar to anyone who has undertaken process improvement activities such as Six Sigma or business process reengineering.
"Supply chain event management provides visibility into the supply chain and resolution of exceptions at a very granular level," says Knickle.
"Supply chain event management is likely to be a pervasive means of managing supply chain exceptions going forward," Knickle says.
Turns EXHIBIT 5 Operational Excellence Solution Map Issue Solutions Average Production Planning & Scheduling Performance Distribution Planning Transportation Planning Supply Chain Planning Variability Manufacturing Execution Warehouse Management Transportation Management Order Management Synchronization Supply Chain Collaboration Supply Chain Event Management Responsiveness Supply Chain Exchange Improvement Supply Chain Process Management Supply Chain Design Supply Chain Simulation Six Sigma and the Supply Chain
"Supply chain event management solutions are more of an add-on to traditional supply chain offerings," says the report's author, Kosin Huang, "but SCEM has the potential to emerge as its own category."
This feature eliminates the difficulties associated with i2's earlier client-server architecture and supports the cross-enterprise aspects of collaboration and supply chain event management.
AllPoints' primary product is the GlassPipeline, an advanced supply chain event management software package.
SCPM (also known as supply chain event management or SCEM), the subject of the ARC study, provides "alerting," extended supply chain visibility, and a real-time view of key performance indicators.
Beyond visibility into inventory levels and order status, wireless is also enabling supply chain event management. The WMS monitors the supply chain for events that are important to users of the system, like an order that's going to arrive late or an item that will be short shipped.
Newly defined SCEM (supply chain event management) software will take off in 2001, as companies focus on the velocity and agility of their supply chains.

Full browser ?