Track: Supply Chain Management

Abstract

Implementation of best practices in supply chain for small and medium-sized enterprises is crucial for the streamlined flow of the business and cost optimization. Studies on the implementation of Supply Chain Management by Small and Medium Enterprises are relatively rare and their scope is limited to selected aspects. The sector plays a key role in the economies of all the countries in the world. In this context, it is important to streamline the processes within the supply chain management. This would save the time by 10% and enhance proper coordination with the respective departments. The study also presents the most important elements in the particular cost optimization of SMEs. The proper flow of information and order of processes lead to cost savings by 2.5%. The article is establish on data, using surveys, books, interviews with subject matter experts’, journals, and online resources collected in this sector. This research aims to streamline the supply chain, and optimize the processes within the supply chain to optimize the overall cost of the business by 2.5%.