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Check Out Our Business: Supply Chain Management Essay

Supply chain management refers to the coordination of all business activities that are involved in designing products aimed at satisfying end users. Different Enterprise Resource providers use varying tools to manage supply chains, depending on the individual needs of companies and businesses. MaxQ technologies are Enterprise Resource Providers and offer several tools as described below.

 MaxQ technologies have designed an Advanced Forecasting tool that enables a business to accurately predict sales and purchases. Such predictions can be sent to vendors in the case of purchases and sales representatives in the case of sales forecasts.

Supply chain planning (SCP) is another tool offered by MaxQ technologies. This tool uses information regarding distribution requirements, replenishment of inventories and planning for material requirement to determine the right products, customers, prices and the means to take products to the market.

Vendor Managed Inventory (VMI) is a tool offered by MaxQ. It provides information to suppliers on the level of inventory in their customers’ business for the purpose of replenishing it.

 Import Management tool manages the process of importing. It combines information on import deliveries and replenishment planning, to increase profitability by reducing the complexity of the import process.

 Request for Quotation (RFQ) is another tool that automatically sends requests to different vendors for the prices of their products. Their feedback is displayed on the screen for the purchasing officers to make the appropriate purchases.

Inter-Company-Inventory Transfers (ICIT) tool enables companies that are related to exchange goods while documentation for the transaction is automatic. This tool is very flexible in its use as it can be utilized by companies in a single database or those in different databases. Therefore, Supply chain management becomes very easy with such automated tools. They reduce time wastage, increase efficiency and profitability to those companies that utilize them.

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