Supply Chain Management is critical for the success of any modern business, stated Prof. Amiya K Chakravarty, Philip McDonald Chair and Professor – Operations & Supply Chain Management, College of Business Administration, Northeastern University MA at a “Session on Supply Chain Business Models and Collaboration”, organised by Confederation of Indian Industry (CII) Delhi State Council on Friday.

Speaking at the Session Prof. Chakravarty said, “The objective of every supply chain is to maximize the overall value generated by an enterprise. It consists of all stages involved, directly or indirectly, in fulfilling a customer request.”

The management of an enterprise often finds itself caught between customers’ mounting demands and company’s need for growth and profitability. Supply Chain Management is an art as well as a science that involves the management of flow between and among stages in a supply chain to maximize profitability. This phenomenon has particular relevance in the Indian Small & Medium Enterprises (SME) sector, which is being forced to perform or perish in the face of global competition.

In his presentation, Prof Chakravarty focused on the significance of the coordination of processes that link companies in a network, which is essential for maximizing customer satisfaction and ROI. These processes are determined by flow of material, information, and funds between firms.

Decisions such as the number of tiers in the supply chain, extent of decentralization, type of alliance, and outsourcing determine a firm's competitiveness, he added.

In his opening remarks, Mr Shivinder M Singh, Vice Chairman, CII Delhi State Council highlighted the increasing relevance of effective supply chains, to successfully compete in the global market and networked economy.

Mr Singh said that Supply Chain Management offers the potential not just to cut costs but also to generate new revenues and higher profits. The challenge is to link these novel approaches together to garner the competitive rewards of a synchronized supply chain. Mr Singh cited the challenges faced by his organization in setting up effective supply chain processes and drive efficiencies on all fronts.

Mr A K Kaul, Past Chairman, CII Delhi State Council while concluding the session thanked Prof. Chakravarty, for sharing his experience and insights on Supply Chain Management.

The session was well attended by senior representatives from Manufacturing, Engineering and Services sectors.

Sourced From: Confederation of Indian Industry