Today's market as we know is customer driven, with extensive subcontracting, Inventory and supply chain management can make or break a deal.
Good supply network emphasizes on seamless integration between Original Equipment Manufacturer (OEM) and its suppliers.
A very rigorous approach for optimally coordinating information, material and financial flow between supplier tiers is another objective of this study.
Study is supported by mapping different models and approaches in order to provide a harmonic coordination within a closed supply network.
This literature review is carried out to review current market trends and also to have a thorough knowledge correlating our main objectives.
Ideas and thoughts of different authors has been analysed to demonstrate a more eccentric review of the topic.According to (Jaber 2009), Current inventory costs accounts to half of total logistical expenses of a supply chain(Lancioni 2000).Improper Inventory management in a supply chain usually tends to increase conflicts between entities of the supply chain i.e., between retailer, buyer, manufacturer and suppliers, which may result to inefficiencies of the supply chain.(Jaber 2009).He suggests eliminating this issue by effective information sharing of all stock levels.This concept is called ‘Co- Managed Inventory' CMI.(Christopher 2005).(Tan 2001) Suggest that primary focus of a SCM is to achieve efficient end product distribution from manufacturer to customer by replacing inventories with information.In general many Manufacturing Organizations are a network production and distribution sites.They transfer raw materials to finished products and supply it to end users (billington 1992).Orienting Intrafirm and interfirm operations with a strategic approach and thus reinforcing its capabilities by co-operative measures.Unique/Personalized approach should be carried out for every customer to stay competitive and to achieve better customer satisfaction.For years Supply chain was considered as channels for distribution.The main intent of channel distribution was to make each organisation more productive and efficient.