ABSTRACT
This chapter explores changing nature of supply chain management from a variety of theoretical perspectives. It discusses efficient consumer response (ECR) and management of supply chain management (SCM). The key concepts and theories in SCM are the value chain concept, the resource-based theory (RBT) of the firm, transaction cost economics and network theory. The chapter analyses the application of supply chain concepts in international markets. The notion of time-based competition through just-in-time (JIT) and quick response (QR) principles was given further credence in the fast-moving consumer goods (FMCG) sector with the advent of ECR. The UK is often mooted to have the most efficient grocery supply chain in the world, a key contributor to the healthy profit margins of its grocery retailers. The four stages are supplier control, centralization, just in time and relationship. The chapter discusses on differences in logistics cultures was to show that implementation of best practice principles has been applied differentially in various geographical markets.
