Supply Chain Management (SCM) is the management of the flow of goods and services.
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 has been defined as the "design, planning, execution,
control, and monitoring of supply chain activities with the objective of
creating net value, building a competitive infrastructure, leveraging worldwide
logistics, synchronizing supply with demand and measuring performance globally.
SCM
draws heavily from the areas of operations management, logistics, procurement,
and information technology, and strives for an
integrated approach.
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