: Handling the return of defective or excess products and managing the recycling or disposal process. 🛠️ Essential Features for Effectiveness
| Technology | Application in SCM | |------------|--------------------| | | Integrates planning, procurement, inventory, finance. | | IoT | Real-time tracking (temperature, location, vibration). | | AI & Machine Learning | Demand forecasting, anomaly detection, route optimization. | | Blockchain | Provenance, traceability, smart contracts, anti-counterfeit. | | Robotics & Automation | Picking, packing, palletizing, AGVs (Automated Guided Vehicles). | | Digital Twins | Simulate supply chain scenarios for risk planning. | fundamentals of supply chain management
Effective SCM balances six competing objectives (often visualized as a trade-off triangle): : Handling the return of defective or excess
: The bi-directional transmission of data, including demand forecasts, orders, and delivery schedules. Accuracy here is vital to preventing stockouts or overstocking. | | AI & Machine Learning | Demand
: The movement of money, credit, and payment schedules, primarily flowing from the customer back toward the supplier. 3. Core SCM Processes and Stages