Supply Chain Management In 6 Minutes | What Is Supply Chain Management? | Simplilearn

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In this video, we will learn What is Supply Chain Management in just 6 minutes using Apple Inc.'s iPhone 13 Pro as a compelling case study, we delve into the intricacies of supply delays and production cuts. We will Discover the key factors behind these challenges and explore how a sleek supply chain strategy can be crafted to navigate them effectively. Whether you're a student, professional, or simply curious about the dynamics of global supply chains, this concise yet comprehensive exploration is tailored just for you. Join us on this journey to unlock the secrets of Supply Chain Management excellence! Subscribe now for more educational content on business and technology.

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✅What Is Supply Chain Management?
The term supply chain is a connected network of individuals, organizations, resources, activities, technologies involved in the manufacturing and sales of a product or service. Companies develop supply chains so that they can reduce their costs and remain competitive in the business landscape.

✅What Are The Stages of Supply Chain Management?
Five stages altogether formulate a supply chain management strategy. You will now discover them in brief:

⏩ Planning Operational Strategy: The main focus at this stage is to focus on designing a strategy that yields maximum profit.

⏩ Sourcing: Following the planning, the next phase is to develop or source. At this stage, you are primarily concerned with developing strong relationships with raw material suppliers.

⏩ Manufacturing (Making): The products are created, manufactured, tested, packaged, and synchronized for delivery at this step. The supply chain managers are tasked with arranging all manufacturing, testing, packaging, and delivery preparation activities.

⏩ Delivery: This phase deals with product sales and distribution of products across all retail stores. It is a logistics phase, where consumer orders are approved, and product delivery is set into motion.

⏩ Returns: This last phase controls the return of defective or damaged products by consumers. This level of the supply chain is frequently a source of contention for many businesses. Supply chain planners must devise a responsive and adaptable network for receiving damaged, faulty, and additional items from consumers and expediting the return procedure for customers concerned with supplied products.

➡️About Lean Six Sigma Expert
With the Lean Six Sigma Expert Program, you can become a specialist in process improvement and quality management. You will gain expertise in the DMAIC framework and advanced tools like Minitab for effective data analysis. Drive efficiency with a deep understanding of Lean principles, practical skills, and real-world projects.

✅Key features
Simplilearn's JobAssist helps you get noticed by top hiring companies
40 hours of live instructor-led training and 15+ hours of self-paced content
18+ Harvard Case Studies with access to advanced statistical tools
Learn from industry experts and earn 114+ PDUs
Hands-on experience with 13 real-world projects and 12 simulation exams
Accredited to Globally Recognized IASSC
Exclusive GenAI Modules for Quality Management

✅Tools Covered
Lean manufacturing techniques
Six Sigma methodologies
Project management skills
Quality management principles
Data analysis and statistical tools
Process optimization strategies
Minitab Tool

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