1. Project Management :
Project Management, as name suggests, is a on-time management activity that mainly focuses on management, planning, and organizing company or business resources to proceed a specific task, project, or event towards completion.
2. Supply Chain Management :
Supply Chain Management, as name suggests, is a management that mainly focuses handling entire product flow i.e. goods and services at every stage of project development, product, or business deliverable and in turn maximizes customer value.
Difference between Project Management and Supply Chain Management :
|Project Management||Supply Chain Management|
|It mainly focuses on management of individual project till it gets completed successfully.||It mainly focuses on management of processes and supplies throughout project development, stages of business deliverable.|
|It is management of processes and principles to initiate, plan, execute and manage all efforts made to complete project.||It is management of supply chain activities such as good and services.|
|Various project management tools are Kanban, Trello, Airtable, Clarizen, etc.||Various supply chain management tools are warehouse management, demand forecasting, lean inventory, bid and spend, etc.|
|Process of project management includes initiating, planning, executing, controlling and closing project.||Process of supply chain management includes supply planning, product planning, demand planning, sales and operating planning, and at last, supply management.|
|It simply identifies, manages and control quality.||It directly impacts quality of product and profitability of company.|
|It is used in various organizations such as functional, projectized, matrix, etc.||It is used in various organizations such as retailers, service firms, transportation companies, etc.|
|Its main objective is to produce complete project, achieve desired goal and meet success criteria at given period of time.||Its main objective is to ensure that products are available to fulfill customer demand in sufficient quantity and are delivered to appropriate location on time.|
|It improves changes of achieving goal, maintain budget, set scope and schedule, improves planning, better collaboration, etc.||It reduces overhead costs, improves cash flow, improves quality control, improves risk mitigation, etc.|
|It has some disadvantages such as loss of resources, security issues, scheduling problems.||It has some disadvantages such as expensive to implement, improper implementation leads to service redundancy, missed deadlines, etc.|