Supply Chain Event Management (SCEM) - Definition & Meaning
What is Supply Chain Event Management (SCEM)?
Supply Chain Event Management (SCEM) is a concept which aims to achieve company-wide transparency of logistics process and a timely response to critical exception events in the supply chains. It thus represents a starting point to optimize the logistics performance and at the same time to reduce logistics costs.
More commonly nowadays, supply chain event management is used refer to a business software which has the ability to manage all the events which occur within and outside the organization and also between the supply chain partners.
The major objective of the SCEM is to keep each member of the supply chain, i.e. from supplier of materials and buyers to the manager of warehouses and product carriers informed about activity across the supply chain. There are five major business processes which are related to the supply chain activity. These are:
• Monitoring
• Notification
• Simulation
• Control
• Measurement
This software essentially acts a functionality provider, which can track the milestones and event schedules, as well as exception alerts which can notify the users from any stage of the supply chain when delays or disruptions occur.
All these processes lead us to the following features and functions of the SCEM.
• The execution of fulfilment activities according to the expectations and the timely arrival of inventory can be ensured by the suppliers
• Ensure timely pickup and deliveries to the carriers
• It enables the assurance of acceptance of orders by the buyers
• It also allows raising of critical awareness if the suppliers are unable provide the complete needs of the inventory
• It strengthens the decision making process of the logistics team pertaining to expediting the inventory by knowing when the disruptions in supply chain can delay the shipments in real time
• It allows adjustment of schedules, reduction of labour costs based on delayed shipments and delivery notification
Hence, this concludes the definition of Supply Chain Event Management (SCEM) along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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