What is Supply Management process And how it is work

Question

Accepted Answer

Supply management process involves overseeing the sourcing, purchasing, and inventory management of goods and services.

Sourcing: Identifying and selecting suppliers to provide goods and services.
Purchasing: Negotiating contracts, placing orders, and managing supplier relationships.
Inventory management: Monitoring stock levels, optimizing inventory turnover, and minimizing carrying costs.
Supply chain coordination: Ensuring seamless flow of goods from suppliers to customers.
Risk management: Identifying and mitigating potential disruptions in the supply chain.
Performance measurement: Tracking key performance indicators to evaluate the effectiveness of supply management processes.

Popular interview questions of Operations Manager