| |FEBRUARY 202297 WAYS THE FURNITURE SUPPLY CHAIN IS DIFFERENT FROM OTHER INDUSTRIES2. In terms of Supply Chain LogisticsIn the furniture industry, supply chain management mainly focuses on logistics in terms of transportation of physical ma-terials (raw and finished products) from one location to an-other. Thereafter, the overall prices of the product are totally affected by the shipping charges from wholesalers to retailers and also the distance travelled from suppliers hub to manu-facturer. While in service-based and other industries, accord-ing to the business type, this cost can be reduced. 3. In terms of Finished OutputIn manufacturing or furniture industry, the finished good is the product that has been completely transformed from raw material form (Wood) to the form that is ready to sell to the customer (Almirah). Here, it is the furniture that is assem-bled, manufactured, tested and packaged at a warehouse and is ready to get sold. Whereas, in various industries like gov-ernment services, the finished output in the supply chain is customer satisfaction. 4. In terms of Inventory & Market DemandThe service firms, unlike the furniture manufacturer industry, don't hold the inventory. They create a service when the client demands. For example, it may be government or defence ser-vices or engineering or banking services. On the other hand, the furniture industry produces goods for stock, with inven-tory levels aligned to the forecasts of market demands. Here, the inventory also illustrates the cost for the organization. 5. In terms of Labor RequirementsThe furniture manufacturing industry can automate many processes, resulting in the reduction of labor costs and re-quirements. In comparison, service-based industries hire knowledgeable people according to their deliveries, where the process or deliverables cannot be automated easily. Hence, most of the modern furniture industries are not too labor-intensive. 6. In terms of Physical Production LocationService firms do not require any physical location to make their deliverables happen. The people can create or deliver their services from anywhere they want to. For example, consulting-based companies use communication networks to access and deliver their services across any part of the world. Talking about furniture companies, they need a physical site to manufacture the product and for stockholding operations. Also, the production of the furniture is not necessarily on the manufacturer's site, but it can process at any site in the supply chain process. 7. In terms of Supply Chain Optimization The main drivers of optimization in the furniture supply chain industry are the cost and the speed of delivery. It can be ac-complished by timely deliveries of products to the consum-ers and reducing the overall cost spend in the supply chain process. Many companies work on the reduction of physical inventories or in negotiating the prices of raw materials. On the other hand, in the service model, the drivers of optimiza-tion are building relationshipby clients.Supply Chain Management plays a significant role in the world of every business. It must be followed promptly in terms of every factor associated with the supply chain process directly or indirectly to achieve the company's objectives. Whether we talk about furniture or any other industries, an eye to the supply chain management practices is important and must to compete in this global competitive market. The furniture industry is like where customers demand andthey command. Therefore, the manufacturing cycle is not that simple as compared to the other industries like automobiles, electronics etc
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