The principle of ‘Survival of the fittest’ remains true in the gift global economy characterized by the presence of ever shifting situation environment. all ahead of its time company needs to dwell on for the existence & addition below such a competitive environment. One surest quirk to attain this is to come up with the money for best character of product at reasonable rate, which suits skillfully to the requirements of goal customer. To impart a feeling of delight in the minds of consumers and come up with the money for setting product at reasonably priced price manufacturer has to bring shift in his stress from mere cost ascertainment to cost tapering off to condense cost of production. Thus, cost narrowing is the main managerial mantra as later than quoted by famous strategist Michael.E.Porter in his landmark scrap book “Competitive Strategy”. There are number of strategic cost dealing out techniques available when Supply Chain handing out (SCM) , matter Process Re-engineering (Value Re-engineering), sum Productive keep to reduce cost. Of these Supply Chain dispensation is prominent tool to cut cost. In this backdrop the present paper aims to stress the conceptual framework of SCM, Modus Operandi and its relevance for corporate world in the new millennium. supply chain management

Supply Chain organization has become a extremely powerful technique as it increases the responsiveness to the changing matter conditions and enhances the competitiveness of the organization. In today’s intense competition, and increasingly global economy, to survive and grow, direction must add up their publicize responsiveness and become cost competitive. The supply Chain framework is a method of breaking the length of the partnered set of value creating comings and goings from basic raw material/component supplier to the supply of the stop product to customer/consumer.

A supply chain is a situation process that links manufacturers, retailers, customers and suppliers in the form of a chain to, manufacture and refer products as a single virtual running of pooled skills and resources. Supply chain government is process of synchronizing the flow of bodily goods and allied information from the production pedigree of low level component suppliers to the end consumer, resulting in the provision of in the future statement of request fluctuations and synchronization of issue processes in the midst of all the co-operating organizations in this supply chain.

Definitions from well-respected references have varied during the like decade. For example, Supply Chain Yearbook 2000 described SCM as, “A chain of processes that facilitates concern endeavors amongst trading partners, from the purchase of raw goods and materials for manufacturing to delivery of a over and done with product to an end user.” APICS-The do its stuff Advantage, offered this definition in January 1999: “The global network used to adopt products and services from raw materials to stop customers through an engineered flow of information, beast distribution and cash.”

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