General Electric also known as GE has been around for many years. GE is a global company that provides a variety of products in the United States and abroad. The company started in 1900 in a barn and they have been much more advanced as the years have progressed. GE has more than 3000 employees working in research facilities throughout the United States, India, China, and Germany. Through the years, the company has won several Nobel prizes and other awards for the remarkable research they have performed over the years. Defining Supply Chain Management Supply chain management (SCM) is the combination of art and science that goes into improving the way your company finds the raw components it needs to make a product or service and deliver it to customers. The following are five basic components of SCM:
1. Plan:This is the strategic portion of SCM. Companies need a strategy for managing all the resources that go toward meeting customer demand for their product or service.
2. Source: Companies must choose suppliers to deliver the goods and services they need to create their product. Therefore, supply chain managers must develop a set of pricing, delivery and payment processes with suppliers and create metrics for monitoring and improving the relationships.
3. Make:This is the manufacturing step. Supply chain managers schedule the activities necessary for production, testing, packaging and preparation for delivery. This is the most metric-intensive portion of the supply chain where companies are able to measure quality levels, production output and worker productivity.
4. Deliver:This is the part that many SCM insiders refer to as logistics, where companies coordinate the receipt of orders from customers, develop a network of warehouses, pick carriers to get products to...