Supply Chain Management

  • A supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chains exist in both service and manufacturing organizations, although the complexity of the chain may vary greatly from industry to industry and firm to firm. SCM is the management of the flow of goods.

  • It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. Interconnected or interlinked networks, channels and node businesses are involved in the provision of products and services required by end customers in a supply chain.

  • Supply chain management is strategic in orientation and recognizes that the competitive strength of a firm is not only determined by its products but also by the operations and activities that place the products into customers' hands and provide supporting services.

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