Recently, there’s been a lot of discussion around the supply chain. And as crisis concerns grow with no immediate solution in sight, companies around the world are looking for a serious enabler to optimize the supply chain.
Supply vs. Demand Chain
Through the management of logistics, operations, marketing and sales, and services, an organization creates a supply chain to deliver goods or services to a consumer. By anticipating the needs of the consumer, an organization can balance its expenditure of resources to meet market demand.
In the demand chain, the consumer initiates the flow of goods. By managing and better understanding relationships between consumers and suppliers, organizations can use information obtained through their demand chain to create greater operational efficiencies and minimize costs.
“The supply chain originates at the sources of supply and flows toward the customer, whereas the demand chain flows backward from the customer and ends up with the enterprise,” said Hokey Min, author of The Essentials of Supply Chain Management: New Business Concepts and Applications.
In a situation where supply chains around the world are in crisis, how can technology be used to optimize demand chain efficiencies?
Click How Battery-Free Bluetooth Sensors Are Helping to Enable the Demand Chain | Bluetooth® Technology Website for details.
