Supply Chain Management (SCM) is the design, planning, execution, control, and monitoring of all in line or non linear production, supply and logistics activities. The objective is creating increased value, building a competitive/responsive infrastructure, leveraging international logistics, synchronizing supply with forecasts of demand, and gauging performance of international procurement.
Demand forecasting entails collaborating on the quantity of our supplied products that our customers ultimately will purchase, and to which must be on hand to satisfy their final production requirements. Demand forecasting involves techniques including both informal methods, such as educated guesses, and quantitative methods, such as the use of historical sales data or current data from test markets that entails information technology or sophisticated modeling methods. It must also be stressed that a great deal of burden lies on accurately understanding the dynamics of customer’s production, manufacturing processes and logistics to make these periodic forecast and supply programs work.
A principal term we use is “demand-pull.” Literally MWI is empowered to push product to customers as their demand – pulls it into their production. Minimum safety stocks are normally required, and turnover requirements are usually part of these stocking programs. The entire issue of SCM and demand forecasting is dependent upon a close collaboration between MWI and its customers.
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