Do you know the 7 Principles of Supply Chain Management?

7 Principles of Supply Chain Management

First let's ask What is a Supply Chain? In theory its a collection of suppliers required to create one specific product for a business that is applicable for all industries be it manufacturing or service industries like hospitality. The chain is made up of nodes or “links,” which can include multiple producers for component parts, then the completed product, followed by the location or warehouse where it is stored, then its distribution centres, and finally, the point where a consumer can purchase it.
The concept of the chain is important because each link is connected in a specific direction and order, and the next link cannot be reached without going through the previous one. Each link adds time and costs, and may involve labour, parts, and transportation. Every product a business carries may have its own supply chain, though they may use certain suppliers for multiple products. 
Moving to a best practice supply chain requires alignment to the seven key supply chain principles. Think about how your supply chain is set up today. Are all the links in place? Has the waste been removed to allow an uninterrupted flow of products and information to give the customer the service they expect? If not contact us to arrange an audit of your supply chain to find the opportunities for improvement and start your journey to having a world class Supply Chain.