Exploring the Supply Chain

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Exploring the Supply Chain
Supply chain management is the management for the chain of supplies, and it is a
necessary and effective way of connecting manufacture to the demander. “A set of
approaches utilized to efficiently integrate suppliers, manufacturers, warehouses, and
stores, so that merchandise is produced and distributed at the right quantities, to the right
locations, and at the right time, in order to minimize system wide costs while satisfying
service level requirements." SCM can be defined as a company that provides the
manufacturer with logistics, procurement, information technology, and operations
managements. There are four traditional levels to SCM which are factory or the
manufacturer, service provider, wholesaler and retailer. One example to a retailer,
delivering service to consumers directly is Best Buy.
Retailers are involved with the supply chain management in order to keep product quality,
timing, expenses, as well as cost. There are many crucial functions of retailing. Retailers
perform functions such as buying an assembling; to meet the needs of large h\number of
consumers, retailers assemble the products that are delivered to the store from different
manufacturers. Storing and selling is another function of the retailer because the products
are delivered in different times. Retailer keeps these stocks in the warehouses and they
reserve it until the product’s in display is sold out. They are delivered large quantities of
products but sell small quantities depending on consumer requirements. The primary
function of the retailer is to sell the products to the consumer. Retailors serve as a bridge
that connects the producer with the consumer. Assumption of risk is another factor in
retailing. They have to bear the risk of products value levels, their last days of use and they
are also the stockers of whatever is the customer demand. These processes take great risks
because the products may lose their value over short or long period of time. Grading and
packing is another polishing step before the product is introduced to the customer.
Retailers sort out the products that they receive, pack or unpack them depending on the
product. Last important step for retailing is advertisements. Retailers display the products
in the stores and sometimes advertise their stores with the best products they have.
Retailers don’t have to be multiple location entities. They can be privately owned,
partnership, corporations.
Best Buy Stores are multiple location entity retailers. Few products Best Buy receives
from the supply chain is consumer electronicsand a variety of related merchandise,
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