This paper compares and contrasts two types of management systems: the supply chain management system and the inventory management system. The paper begins with a general overview and definitions of the two systems. It then compares and contrasts the systems and evaluates which system is best used in which business management situation.
Outline:
Introduction
Overview of the Management Systems
Supply Chain Management
Inventory Management
Comparison and Contrasting the Two Systems of Management
Conclusion
From the Paper:
"Supply chain management is a process of "planning, implementing, and controlling the operations of the supply chain." A supply chain is a general coordination implemented between various systems of entities, activities, information, and resources used in moving a product or service from the supplier to the customer (Wikipedia). Usually a supply chain involves numerous entities, including service providers, distributors, retailers, and manufacturers. Typically a supply chain operates from the issuance of the raw material all the way through the development in the final product ready for sale or use. The purpose of supply chain management is to fulfill the supply chain's goal of fulfilling demand by producing an efficient product or resource. Supply chain management accomplishes this goal by managing all aspects of the supply chain; from the "storage of raw materials, work-in process inventory, and finished goods from point of origin to point of consumption" (Wikipedia)."
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