Supply chain management (SCM) is the optimization of a product’s creation and flow from raw material sourcing to production, logistics and delivery to the final customer. In other words, it is the management of the flow of goods, data, and finances related to a product or service, from its origin (Nature) to the delivery of the product at its destination. SCM encompasses the integrated planning and execution of processes required to manage the movement of materials, information and financial capital in activities that broadly include demand planning, sourcing, production, inventory management and storage, transportation or logistics and returning excess or defective products.
MOU has been signed on 10 April 2023 between the Institute of Supply and Materials Management (ISMM) & the Industries Development Board (IDB) with the objective to develop a local Supply Chain Framework which is acclaimed globally to uplift domestic Industry with collaborative contribution of all stakeholders.
As per above MOU, there are 03 x main deliverable for ISMM.
- Conducting Awareness Programme on Concepts of SCM.
- Conducting Process Improvement Programme based on Lean Management Philosophies.
- Develop Criteria for Outline Framework for Grading of Industries.
Under the First deliverable, Awareness Programme on Concepts of SCM – 02 x programmes, one for Government Senior Officials & other as a one-day Workshop for all industrial personnel have already been planned to be conducted in the month of July 2023.
Under the Second deliverable, Conducting Process Improvement Programme based on Lean Management Philosophies – These training programmes will be conducted by ISMM as “Consultancies, Workshops etc” for Identified Industries as facilitated by IDB throughout the year commencing from August 2023.
Under the Third deliverable, Developing Criteria for Outline Framework for Grading of Industries – ISMM, in liaison with IDB will initiate immediate action with the scope to Motivate, encourage and development of all manufacturing industries under the IDB scale of micro, small, medium, and large towards sustainable growth by optimizing the process activities of the total supply chain. All the operational features that enable to improve the value addition process for the sustainable development of the manufacturing process are considered as the key areas for developing scales. It is expected to jointly declare (ISMM/IDB) the final version of Industry Grading on 24 Oct 2023 which is the “National Supply Chain Day” (ISMM Anniversary Day).
The Ministry of Industries & the Industrial Development Board have organized the “Industry 2023”, the National Industry Exhibition with the Theme of “Towards export-oriented manufacturing economy” which is the largest industrial event. The exhibition is scheduled to be held from 22nd June to 25th June 2023 at the BMICH. The Exhibition showcases the innovation & local industry excellence in machinery, technology, raw material & business development services to the potential local/international markets and most importantly create a platform to make relationship with right stakeholders including policy makers as well as other government support services. ISMM being the professional partner with IDB will be playing a key role during “Industry 2023” to enhance professionalism in Supply Chain Management in local industries.
