Two most important Managing aspect of Logistics Supply & Demand Management
Supply chain is a business of fulfiling needs and earning money. The world will stop if supply chain gets disturbed. That's why managing the business needs proper executers and ideal professionals. The business have the most importan two aspects in it, which are called two Managements of the business : - Demand Management Demand planning is the process of forecasting demand to make sure products can be reliably delivered. a good demand planning can improve the accuracy, align inventory levels with peaks and troughs in demand, and enhance profitability for a particular channel or product. Supply management Supply management in logistics includes supply planning, production planning, inventory planning, capacity planning, and distribution planning. if all of the plannings were executed properly then the supply chain becomes smooth and more profit can be earned. The objective is to balance supply and demand in a manner that achieves the financial and service objectives of the...