IMPACT OF SUPPLY CHAIN MANAGEMENT ON INDUSTRIAL PRODUCTION: A REFLECTIVE VIEW

Abstract

Businesses are being forced to look outside of their four walls due to factors such as infrastructure bottlenecks, supply chain network uncertainty, product life cycle shortening, and increased product variety. The strategic issues surrounding supply management are becoming more and more important as businesses strive for greater global competitiveness. These issues include cost reduction, quality improvement, customer service improvement, and supply continuity, all of which greatly raise the status of supply management within organizations. The survival of world-class enterprises is increasingly dependent on the efficacy and significance of supply chain management. Value innovations are being used by organizations all over the world to manage their businesses both strategically and operationally in order to maintain and grow their competitive advantage. Supply chain management includes coordinating material and information flows within a procurement-production distribution network, as well as the organizational aspects of integrating legally separated firms. The main focus of this paper is to identify the supply chain issues that manufacturing firms typically encounter and how they affect pricing strategy throughout the supply chain. Numerous approaches are proposed to deal with these issues; additionally, each approach's applicability is largely determined by its social implications, which are methodically assessed.

Keywords: Supply Chain Management, Logistics, Industrial Production.