Supply Chain Management – Looked Upon as a Tool For Predicting the Future, for Retail and FMGC Organizations

Supply Chain management is not just about inventory management and streamlining of supply processes. It is now being envisaged as a tool for making forecasts in the domain of the retail and FMGC industry. In these domains, supply chain efficiency is extremely crucial. Stock out situations are totally unacceptable. Besides, monitoring and tracking of goods is important as it reduces pilferage. It also helps in recording the shelf life of products. Earlier, SCM was a methodology for cutting costs and boosting efficiency. However, the aim of most retailers and FMGC companies today, is to go beyond meeting the customer’s needs and predict their own future demand.