A supply chain is a system of activities and organizations that a product moves through between initial suppliers and final customers. The supply chain includes all the steps necessary to get the product from the supplier to the customer, including manufacturing, packaging, transportation, and warehousing.
The supply chain is a crucial part of any business, as it determines how efficiently and effectively goods are produced and distributed. A well-functioning supply chain can significantly impact a company's bottom line. In contrast, a poorly managed supply chain can lead to delays, lost orders, and unhappy customers.
An essential part of managing the supply chain is understanding the various risks that can occur at each stage. By identifying these risks, companies can develop strategies to mitigate them. Some of the most common risks include supplier, production, transportation, and customer demand risks.
Supply chain risk is the likelihood of something going wrong with one or more suppliers involved in producing and/or delivering a product or service. This could include a supplier going out of business, being unable to meet delivery deadlines, or providing poor-quality products.
Related Blog Articles
Understanding Warehouse Management Solutions
A warehouse management system (WMS) is a software application that supports the day-to-day operations in a warehouse. A WMS helps to control and direct the movement of materials within a warehouse and plays an essential role in optimizing the efficiency of these operations. There are many things to consider when implementing a WMS, from the size and layout of your warehouse to the type of products you're storing. This blog...Want to see SIX for yourself?
Need help, have questions or want to get a free demo?
Please read our Privacy Policy on how we process personal data. We will never share your data!
