CIS p. 356 Exercise- SCM
SCM stands for supply chain management. When I googled SCM, most of the websites just came up with general information. One company that produces SCM software is Mitrix. According to Information Week, Mitrix is a subsidiary of Mitsui & Co., and introduced SCM Live. It has applications including planning, sourcing, inventory, fulfillment, and logistics. According to Mitrix president, Ed Lewis, SCM Live will allow companies who couldn't afford supply- chain tools in the past to use SCM Live. In 2004, it managed more than $250 million in transactions. The software works by taking data from material planning forecasts and compares it to other data from existing suppliers and then makes recommendations that keeps inventory balanced with trading partners. Also, an algorithm allows the software to check the status of an order and then renegotiate with the customer if the product will be delivered late. It recalculates itself and then makes new recommendations. This will allow smaller businesses to have supply- chain software that will enable them to compete with larger businesses. SCM Love costs $200,000 to be used for 5 to 10 users and they must pay $75,000 annually.
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