The definition of “modern market” is not a place where buyers and sellers get together to sell modern or high-tech products. In the 21st century, modern market means “a global market, where one can buy and sell products and services from any part of the world.” But to keep this system active and healthy there are certain small systems and streams which should work properly. One such system is Supply Chain Management (SCM). The term is generally related to FMCG (Fast Moving Consumer Goods).
When we say global market we indirectly also state online market; a market that operates online, where to buy or sell a product or service one needs to visit a website (generally termed as e-commerce website) and chose the delight. As there is no physical boundary of this marketing system it slowly became important to be monitored. People started adapting many secure forms of carts and transaction systems e.g. VISA secured, FinCEN, etc. With these software systems payment became safe and secure, but there was always a question: is your buy appropriate and of good quality?
For a long time this was the reason why people feared to buy products online. But like every problem this also had a solution. There were many companies and much more emerging that offered quality inspection services, so that one can buy products with the quality assurance and product relevance.
Types and Relevance of Supply Chain Management Services:
Supply Chain Management Services includes many types of services but the quality inspection and sample performance evaluation are among the most important services that can also be stated as the backbone of modern markets. Countries like China which are major manufacturers of electronic and metal products need such services the most. This is probably a reason why there are many quality inspection companies in China, America, Japan, Russia, and Australia. These companies help the buyers in purchasing appropriate products (i.e. Products specific to their needs), high quality and durable products, and also helps in price determination.
For manufacturing sector sample performance evaluation and pre shipment inspection services are the most useful SCM services. Let us have a closer look at these two sub-services and their relevance to the manufacturing sector.
Sample Performance Evaluation: This service allows a company to confirm the quality and relevance of the product that they wish to buy for further use. In case of manufacturing sector it is oblivious that a manufacturing company will buy the product (their raw material) in bulk, so as to decrease expenses and enhance the quantity output with best quality. A company can therefore use this service and get their product confirmed before buying it in bulk.
Pre Shipment Inspection Services: Manufacturing industries as well as other commercial establishments require this service in order to save their time and money. With this service the company can make sure that their order has been dispatched in exact quantity from the concerned provider. In this way the companies will be able to shun the proximity of replacement and will be able to save that time and money.
There are many other sub categories of Supply Chain Management Services that needs to be taken care of, but these are the most important and opted of all services. A modern market is incomplete and unreliable without these services.