SCM & FRANCHISE BUSINESS
There is no set formula for the smooth operation of the supply chain. Companies have different ways of carrying out their respective supply chains. Procuring of material by the franchisee is the most essential part. Some international companies have forayed into India and the procuring of material gets even more complex for such franchisees. The franchisor may appoint various vendors across the country to make available all the required material to the franchisees. The franchisees then form relationships with these vendors and keep them updated about their requirements. As and when required the franchisees automatically inform these vendors about the necessitated materials. Each franchisee has a small supply chain team to execute and coordinate with these vendors at operational level. The franchisees place orders, procure materials and pay to these vendors independently.

Confidence building between a franchisee and the franchisor is a must to achieve perfect SCM. The franchisee also plays an important role by keeping record of stock in his store. He can take immediate action over any shortage through the unified software and put up the requirement in the system. The concerned person in the company receives the request by default and accordingly the requirement is fulfilled through the specified process.

TECHNOLOGY & SCM
Technology plays an important role in the success of supply chain management. Even though the supply chain concept predates the internet and other technological advancements, only through the use of various software solutions and communication, can it truly reach its full potential. Another very important factor technology plays in SCM is that companies today can effectively work with global partners notwithstanding language barriers and time differences. Using technology to handle most of the elements involved in supply chain management, including procurement and communication, makes the exchange of data and the running of the supply chain faster. Through wide area networking system software and enterprise resource planning system we ensure that all the requirements get fulfilled, Software is used for automating logistics which helps the supply chain in automating the work flow as well as management of the system. By sharing of data, SCM applications have the potential to improve the time-to-market of products, reduce costs, and allow franchisors to better manage current resources and plan for future needs. An increasing number of companies are turning to web sites and web-based applications as part of the SCM solution for better functioning of their franchise business.

STOCK MANAGEMENT
Inventory is a list of supplies and materials, which is held available in stock by a business. Managing inventory in the supply chain is vital to ensure high customer service levels. Nevertheless, it is also an extremely expensive asset to maintain. It is very important to keep track of the inventory as the supply chain depends on it. The use of strategies like eliminating dead stock, ABC analysis, systems contracting and stockless buying, vendor-managed inventory and efficient consumer response strategies have reduced inventory expenditure for many businesses. The ultimate goal of any effective supply chain management system is to reduce inventory.