Question

What are the planning and sourcing activities of supply chain management?

Answer 1

answer-

What are the planning and sourcing activities of supply chain management

Supply chain management is the concept which aims to put the good or services in the hands of customer in efficient and responsive manner. Planning and sourcing are very important part of supply chain management.

Planning activities of supply chain management involves process to operate exiting supply chain. In the planning phase, production plan is created to start manufacturing so that customer's orders can be fulfilled.Planning activities make sure how much inventory we needed, how much stock we have, how much we need to purchase to meet the demands of customers.

Sourcing activities of supply chain management involves process to identify, evaluation and selection of potential supplier who will provide us supplies or raw materials we need to start production.In this phase, we seek suppliers, issue RFP or negotiate with supplier then select the supplier who provide the best deal based on cost, quality and delivery time.