Supply chain management is basically about managing inventory efficiently so that holding costs or any direct or indirect costs leading to cost incurred to the company due to goods or cargos movement is kept at lowest and in order to do that management of information is the cornerstone of the whole supply chain management project.
Managing information in present SCM scenario is done through custom software’s and applications which are broadly categorised as Enterprise Resource Planning (ERP) which are designed around the whole process within an enterprise’s supply chain activities. Important data to be monitored for the success of SCM information management are product pricing information, bills of material, supplier and distributor information, net cash flow etc. These components of SCM are been monitored through a SCM ERP and managing this portfolio of information efficiently results in the success of SCM mechanism. Other than these facts, managing stakeholder information which includes logistics, suppliers, partners, distributors etc. is again a very crucial component of a successful information management in SCM.
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