Supply chain maturity
A supply chain can be defined simply as a system of people, organizations, information, activities and resources that are involved in the movement of a service or a product from its supplier to the consumer. It is in fact a very dynamic and very complex network in supply and demand. A supply chain deals with everything from the converting raw materials into a finished product to delivering it to where it can be accessed by the final consumer.
Most sophisticated supply chains have within them the element of recycling. Here, used products re-enter the cycle at any given point if their residual value can be recycled. In the past decade the average company has spent 1.7 per cent of revenue in improving the excellence of their supply chain, this is mostly in technology.
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Motivation of the management will lead to a more efficient workplace all together. The environment within a workplace has been seen to influence productivity of the workforce a great deal. Therefore the supply chain should motivate the management team and not just in terms of money.
Having stated some traits of a supply chain that is mature, this paper is left to conclude that most of these traits, if not all are made to ensure maximization of profit. Though this is the aim of cost processes in a production Company, a mature supply chain approaches maximization of profit from all angles. This makes it the ideal tool.
Ayers, J. B. (2006). Handbook of supply chain management. CRC Press.